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With a Rs 2,039 Cr defence export order, Solar Industriesโ shares surge to Rs 11,597 per share
Solar Industries' share price has risen by a marvelous 10% after the company announced that it was to get the largest export order worth Rs 2,039 crore. The amount will be spread over four years as defense products will be supplied to international clients. Thus,ย shares of Solar Industries reached a six-week high at Rs 11,597 per share on December 3, 2024.
The company's good performance has been supported by regular significant export orders. This is the latest of a succession of high-value contracts for Solar Industries. In November, the company won two other defense export orders worth Rs 580 crore and Rs 399 crore. It also finalized a separate order worth Rs 887 crore from Singareni Collieries Company. These orders collectively highlight the expanding footprint of Solar Industries in the global defence sector.
Solar Industries Sees Surge in Shares on Strong Growth
As evidenced by share increases, this is being seen by some as indicative analysts think it would grow better both home-bound and internationally. The Rs 5,700 crores of order book at Solar Industries closed Q2FY25 reflected better performances yet. In the wake of developments described earlier, Solar Industries has bumped its capex guidance for FY25 to Rs 1,200 crores from Rs 800 crores.
Solar Industries has always returned impressive results to its investors. Its stock has risen by 973% in the last four years from Rs 1,027 per share to over Rs 11,000 per share today. The journey has been marked by multi-bagger returns, including a 122% gain in 2021 and a 62.35% increase so far in 2024.
Solar Industries Targets Rs 1,500 Cr in Defence Sales for FY25
The company is also expecting more orders, mainly from overseas customers, and remains hopeful that it will be able to deliver defense products worth Rs 1,500 crore in FY25. Defense products are expected to form about 20% of the sales of the upcoming fiscal year.
With Solar Industries along the curve of growth and acquiring large contracts, it has, therefore remained at the top in terms of market performance and new products, especially in the industrial explosives sector, for many mining, infrastructure, and defense industries.