Mega Order Win: Solar Industries Bags Rs. 402 Crore Order; Shares Up 62% In 2025; Should You Invest?

Solar Industries India Limited, a manufacturer of industrial explosives, has announced a major order win from Coal India Limited (CIL). The company disclosed via stock exchange filings on May 31, 2025, that it has received an order worth Rs. 402 crore for the supply of cartridge explosives and accessories.

Rs. 402 Crore Order Details

According to the official filing made to both the National Stock Exchange (NSE) and BSE, the order has been placed by Coal India. The contract is domestic in nature and is to be fulfilled over a two-year period.

Solar Industries India Ltd, headquartered in Nagpur, caters to both domestic and international markets with a wide range of commercial and defence-grade explosives.

As per the company's disclosure under SEBI's Listing Obligations and Disclosure Requirements, this Rs. 402 crore order involves the supply of cartridge explosives and related accessories, which are essential to mining operations. This deal is expected to enhance Solar Industries' order book and improve its revenue visibility over the next two years.

Solar Industries Share Price Movement & Q4 FY25 Financials

Shares of Solar Industries India Ltd ended lower on Friday, closing at Rs 16,045, down by 1.26%, but are currently hovering near their 52-week high. The stock has provided good returns in 2025 so far. In the last 30 days, Solar Industries shares have surged by 23%, while over the past six months, the stock has gained around 52%. On a year-to-date (YTD) basis, Solar Industries has jumped by 62%, outperforming broader market indices and many sectoral peers.

In its earnings report for the January-March quarter (Q4FY25), Solar Industries posted a strong 42% year-on-year (YoY) jump in net profit, also called profit after tax, which stood at Rs. 346 crore, up from Rs. 243 crore reported in Q4FY24.

The company's revenue for the quarter rose to Rs 2,167 crore, rising 35% YoY compared to Rs 1,611 crore in the same quarter last year. The company's EBITDA stood at Rs. 546 crore for Q4FY25, up 47% YoY compared to Rs. 371 crore in Q4FY24 while the EBITDA margin expanded to 25.21% in this quarter.

According to a recent report by Centrum, Solar Industries' defence order book has seen a massive jump, rising from Rs. 4,970 crore in Q3FY25 to Rs. 15,200 crore in Q4 FY25. The brokerage has maintained a BUY rating on the stock, with a revised target price of Rs 15,310, valuing it at 60 times its estimated FY27 earnings.

Coal India Share Price Movement & Q4 FY25 Results

Shares of Coal India Limited closed at Rs. 397.40, down by Rs. Rs.0.80 or 0.20% on Friday, May 30th. Over the past week, Coal India share price fell by approximately 1.5% but rose by around 3.3% in the month of May. However, the stock has remained largely flat in 2025 and is still down by 22% over the past year.

On May 7, Coal India reported its Q4 Q4FY25 earnings, posting a 12.04% year-on-year (YoY) growth in consolidated net profit, which stood at Rs. 9,604.02 crore, compared to Rs. Rs.8,572.14 crore in the same quarter of the previous year (Q4 FY24). The revenue from operations for Q4FY25 saw a 1% YoY decline, coming in at Rs. 37,824.54 crore, compared to Rs. 38,213.48 crore in the corresponding quarter last year.

Coal India's EBITDA rose by 3.5% YoY to Rs 11,790 crore in Q4FY25, compared to Rs 11,387.6 crore in FY24. The company's EBITDA margin improved by 120 basis points (bps) to 31.2%, up from 29.8% in the year-ago quarter. The company also declared a final dividend of Rs 5.15 per equity share, representing a 51.50% payout.

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