Solar Industries secures Rs 1,400-crore defence export orders, check stock reaction

Solar Industries India Ltd has secured export orders worth ₹1,400 crore for defence products, the company said on Tuesday, further strengthening its global defence pipeline. The supply contracts are scheduled to be executed over a four-year period, representing one of the largest export commitments for the firm in its defence segment. However, Solar Industries shares ended 1.17% lower at Rs 13,755. Market cap of the firm stood at Rs 1.24 lakh crore. The order is expected to support visibility for the company’s defence vertical, which has been a significant growth driver in recent quarters.

The new export orders have arrived as Solar Industries signals an increased focus on its defence business. Earlier this month, Solar Industries said that, based on its current order book, it remained confident of meeting its FY26 guidance, with the ongoing quarter marking a “new growth phase” for defence. In the first half of FY26, the firm’s defence segment delivered revenue of ₹900 crore, up 57% year-on-year and accounting for nearly one-third of the full-year defence guidance of ₹3,000 crore.

In the September quarter, net profit rose 20.6% year-on-year to ₹345 crore, while overall revenue grew 21.4% to ₹2,082 crore. In total, first half revenue stood at ₹4,237 crore, representing 42% of the company’s FY26 target of ₹10,000 crore. Solar Industries’ international business also recorded its highest-ever quarterly revenue at ₹960 crore, reflecting a 21% increase year-on-year as the company worked to expand into new global markets.

The combination of strong first half results, a record international revenue contribution, and long-term export commitments is expected to keep the company’s defence business on a growth trajectory through the remainder of the financial year, in line with previously outlined guidance.