Shares of this large-cap company gained 2 percent to Rs.11,720 per share after NCLT’s approval for the company’s subsidiary Emul Tek to merge with Rajasthan Explosives.
Share Price Movement
In Wednesday’s trading session, Solar Industries Limited‘s share price hit an intra-day high of Rs.11,720, up 1.6 percent from the previous close of Rs.11,456.25 apiece. The share has since retreated and is currently trading at Rs.11,533 per share.
What is the news
On September 25, shares of Solar Industries India surged after receiving NCLT’s (National Company Law Tribunal) approval for the merger of Rajasthan Explosives and Chemicals with its wholly-owned subsidiary, Emul Tek.
Solar Industries specializes in the manufacturing of bulk and cartridge explosives, detonators, detonating cords, and components, which are used in the mining, infrastructure, and construction industries.
Business Segments
Solar Industries India Ltd. operates primarily in five key segments, which include industrial explosives, accessories, defence products, international operations, and commercial explosives.
The company manufactures a diverse array of explosives and related products for mining, construction, and military applications. Its global presence and dedication to innovation establish it as a leading player in the explosives market. As of August 2024, the order book status for Solar Industries is Rs.4,754 crore.
Shareholding Pattern
As per the June 2024 shareholding pattern, promoters hold a 73.15 percent stake in Solar Industries Limited. Foreign Institutional Investors (FII) own 7.56 percent, while Domestic Institutional Investors (DII) and retail investors hold 12.74 percent and 6.54 percent, respectively. The remaining 4.8 percent stake is held by other shareholders.
Financials
Turning to the financials of Solar Industries Limited, the company reported revenue from operations of Rs.1,695 crore in Q1 FY25, rising slightly by 1 percent compared to Rs.1,682 crore in Q1 FY24. Profit After Tax (PAT) rose significantly by 50 percent to Rs.301 crore, from Rs.202 crore in the same period.
Company Profile
Solar Industries India Ltd. is a prominent manufacturer of industrial explosives and initiating systems, with a significant presence in sectors such as mining, infrastructure, and defense.
The company has expanded its global operations, serving clients in over 75 countries, and is recognized for its innovative solutions and strong financial performance within the explosives industry.
Written by – Siddesh S Raskar
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