SOLAR INDUSTRIES INDIA LIMITED HAS RECEIVED AN ORDER
News: Solar Industries India Limited has received an order worth Rs 887 crores from Singareni Collieries Company Ltd for the supply of SME explosives, LDC explosives and initiating systems for blasting of Overburden, to be delivered over a period of two years.
Views: The contract provides healthy growth visibility for explosives volumes. Management has been guiding ~15% volume growth in explosives, led by healthy demand from mining, housing & infra segments. Total order backlog is estimated to be at ~Rs 4400 crore at present, which also includes significant share from defence segment (~Rs 2400 crore).
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