Solar Industries India Limited has secured an order worth ₹887 crore from Singareni Collieries Company Limited for the supply of explosives and initiating systems, the company announced today. The contract, to be executed over two years, involves the supply of SME explosives, LDC explosives, and initiating systems for overburden blasting operations.
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The shares of Solar Industries India Limited were trading at ₹9,760 down by ₹127.65 or 1.29 per cent on the NSE today at 1.10 pm.
The order from the domestic coal mining company will include the delivery of both bulk explosives and initiation systems. The contract will be executed on a domestic basis, with no involvement from international entities. The company confirmed that the order does not fall under related party transactions, and there is no interest from promoter or promoter group companies in the contract.
Solar Industries India Limited will supply these materials to Singareni Collieries, one of India’s largest coal producers. The contract reinforces Solar Industries’ position in the mining explosives market and adds to their order book for the coming two years.
