Defence stock jumps after securing an order worth ₹830 Cr from international client

Synopsis: Solar Industries India jumped sharply after the company secured an export order worth Rs 830 crore from an international client, boosting its global order book and strengthening future revenue visibility.

The shares of this defence company, engaged in the manufacturing of bulk and cartridge explosives, detonators, detonating cords and components which find applications in the mining, infrastructure and construction industries, are in focus after it secured a significant export order. In this article, we will dive more into the details of it.

With a market capitalisation of Rs 1,21,166 crore, the shares of Solar Industries India Ltd reached a day-high of Rs 13,431.90 per share, up 3 percent from its day-low price of Rs 13,003.85 per share. Over the past five years, the stock has delivered a multibagger 1,030 percent return, outperforming NIFTY 50’s return of 86 percent.

Solar Industries India Limited, through a stock exchange filing, announced that it has secured an export order worth Rs 830 crore to deliver defence products to overseas clients. These orders will be managed by the company and its subsidiary over the next four years, significantly strengthening Solar Industries’ presence in the global defence sector.

Last month, i,e., on 31st December 2025, the company secured another major order worth Rs 1,746 crore from Coal India Limited for supplying bulk explosives to Coal India’s subsidiaries over the next two years, which took Solar Industries’ total orders from Coal India to Rs 2,229 crore. 

Also, on 18th November 2025, the company secured an export order worth Rs 1,400 crore from an international client for the supply of defence products, which has to be executed within the next four years. Such strong traction of securing multiple orders frequently strengthens the order book, which in turn enhances the future sales outlook of the company.

Financials

Solar Industries Ltd has reported an operating revenue of Rs 2,082 crore in Q2 FY26, representing a 21 percent growth compared to Rs 1,716 crore in Q2 FY25. However, on a quarter-on-quarter basis, it slightly declined by 3 percent from Rs 2,154 crore.

Regarding its profitability, the company reported a net profit of Rs 361 crore in Q2 FY26, representing a 19 percent growth compared to Rs 304 crore in Q2 FY25. Additionally, on a quarter-on-quarter basis, it grew slightly by 2 percent from Rs 353 crore. 

As of the latest filing, the company had a robust order book of over Rs 17,100 crore, which is more than 2x of its FY25 revenue, providing a good revenue visibility over the next few years. Of this order book, Rs 15,500 crore was contributed from the defence segment, followed by the remaining from Coal India Ltd and Singareni Collieries Company Limited (SCCL).

Solar Industries India Ltd manufactures explosives, detonators, and other systems essential for controlled blasting in mining, construction, and infrastructure projects and has expanded significantly over the past few years as it’s also involved in defence, making products like ammunition and high-energy materials.

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