Solar Industries India Ltd. announced on Friday, May 29, that the defence and explosives manufacturer and its subsidiary have secured export orders worth ₹1,076 crore for the supply of defence products to international customers.
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.
....
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%.