Rs 4,802 crore order book and FIIs increase stake: This multibagger bulk explosives stock secures Rs 455 crore export order!

Shares of the company grew by more than 70 per cent in the last six months.

Solar Industries India Limited has secured a significant export order worth Rs. 455 crores. This two-year contract involves supplying products for use in defence products to an international client. This win strengthens Solar Industries' position in the defence sector and highlights their capability in exporting specialized products.

The company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 1429.14 crore which decreased by 21.12 per cent YoY. The operating profit of the company stood at Rs 367.15 crore, while the PAT of the company stood at Rs 223.27 crore, from a profit of Rs 219.29 crore last year in the same quarter.

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Solar Industries is one of the world’s leading manufacturers of bulk explosives, packaged explosives and initiating systems, which find applications in the mining, infrastructure and construction industries. SIL also ventured into the defense segment in 2010 and diversified into manufacturing of propellants for missiles and rockets, warheads and warhead explosives.

The shares of the company have multibagger returns of more than 100 per cent in the last one year and FIIs increased their stake in the company in December 2023 respectively. The group will maintain its robust market position, backed by orders worth Rs 4,802 crore as on December 31, 2023, in the domestic market and continued growth in the international market.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.