Explosives manufacturer Solar Industries Ltd. has stated in its post-earnings release that given its current order book, it is optimistic of reaching its financial year 2026 guidance with the ongoing quarter marking a new growth phase in its Defence business.

MD & CEO Manish Nuwal said that the mining industry faced sluggish demand during the quarter due to heavy and prolonged monsoons, the demand for explosives from this sector was impacted.

For the first half of the financial year, Solar Industries reported revenue of ₹900 crore for the Defence business, reflecting a growth of 57% from last year, and nearly one-third of the company's full year guidance of ₹3,000 crore.

During the September quarter, Solar Industries reported a 20.6% growth in its net profit to ₹345 crore from ₹286 cror

See Full Page