In an exchange filing, the company said it received the contracts from international clients and that they will be executed over a period of three years.
Solar Industries did not disclose the names of the customers or the specific defence products covered under the contracts. Still, they said that the contracts do not involve any related-party transactions.
The Nagpur-based company manufactures a range of defence products, including ammunition, rockets, warheads, propellants, drones and counter-drone systems, and has been increasing its focus on exports amid rising global demand for defence equipment.
Earlier this month, Solar Industries’ management guided revenue growth of over 40% in FY27, with its defence business expected to cross ₹4,500 crore and nearly 70% of that coming from international markets. Consolidated revenue is expected to cross ₹14,000 crore in FY27.
Managing Director and Chief Executive Officer Manish Nuwal said, “The international business should grow by around 35% and should cross the ₹5,000 crore revenue mark,” adding that the domestic business is also expected to grow at a similar pace. While the explosives business could grow by around 35%.
For the March quarter, the company reported a 70.2% rise in net profit to ₹548 crore from ₹322 crore last year. Revenue increased 41% year-on-year to ₹3,053 crore from ₹2,167 crore in Q4FY25. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 53% YoY to ₹826 crore, while the margin expanded by 220 basis points to 27.1% from 24.9% earlier.
Shares of Solar Industries are trading 0.7% lower despite the order win. The stock has surged over 53% so far this year.
