Solar Industries share price soars 10% on ₹2,039 crore export order win for defence products

The stock rose as much as 10% to ₹11,597 apiece on the National Stock Exchange (NSE). At 9:24 am, it was up 7.77% to ₹11,359.45 per share.

The market capitalisation stands at ₹1,02,791.73 crore.

The scrip has gained over 22% in the past six months and rose more than 60% year-to-date.

Solar Industries India bags order worth ₹2,039 crore

In an exchange filing, Solar Industries India said that the company and its subsidiary have secured export orders worth ₹2,039 crore for the supply of defence products. The international client's order is to be executed over four years.

On November 9, the firm won export orders valued ₹580 crore for defence products to be delivered over five years.

Before that, on November 5, it received ₹887 crore order from Singareni Collieries Company Ltd for the supply of LDC explosives and SME explosives and initiating systems for blasting overburden.

Solar Industries Q2 results

Solar Industries reported a 45.4% increase in its consolidated net profit to ₹304 crore in the latest September quarter compared to ₹209 crore in the same period last fiscal.

The revenue from operations increased 27% to ₹1,716 crore in Q2 FY25 against ₹1,347 crore in the year-ago period.

Manish Nuwal, Managing Director and CEO of the company said, "We have delivered a robust performance by registering the growth of 27% YoY in the quarter. We have achieved the highest ever quarterly EBITDA and PAT at ₹475 and ₹304 crore, registering a PAT growth of 45% YoY and highest ever half-yearly EBITDA and PAT at ₹949 crore and ₹604 crore, registering a PAT growth of 47% in the half year of FY25."

EBITDA (Earnings before interest, taxes, depreciation, and amortisation) surged 38% to 475 crore in the quarter under review, compared to ₹344 crore a year back. The EBITDA margin stood at 27.70 basis points (bps) vs 25.52 bps.