Solar Industries India advanced 2.28% to Rs 7,701.50 after the company informed that it has received defence export orders worth Rs 455 crore for supply of products.
The order has been received from an international client for supply of products over next 2 years for use in defence products.
Solar Industries India (SIIL) is the flagship company of the Solar Group. SIIL, along with its subsidiaries, manufactures bulk explosives, packaged explosives and initiating systems, which find application in the mining, infrastructure and construction industries. The Group forayed into the defence sector in 2010 and diversified into the manufacturing of propellants for missiles and rockets, warheads and warhead explosives.
The company's consolidated net profit declined marginally to Rs 203.33 crore in Q3 FY24 as against Rs 204.58 crore posted in Q3 FY23. While net sales stood at Rs 1,429.14 crore in Q3 FY24, down 21.1% year on year.
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