News: Solar Industries has received export order worth Rs 399.4 crores for supply of defence products, which will be delivered over a period of 3 years.
Views: Defence remains the fastest growing segment of Solar Industries led by strong execution of a healthy order book. With this order, the company's defence order backlog is estimated to be at ~Rs 2400 crore (5.5x TTM defence revenues), giving strong growth visibility. Management guides ~3x YoY jump in defence segment revenue to Rs 1500 crore in FY25e. Order pipeline remains robust in the segment (including large orders like Pinaka rockets, munitions, UAVs etc).
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