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Solar Group plans Rs 300 cr expansion

Friday, 05 Apr 2019
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Solar Industries is planning to make an investment of Rs 300 crore to enhance its capacity and defence capabilities. The company is into manufacturing industrial explosives, including packaged emulsion explosives, bulk explosives and explosive initiating systems.

The company recently commissioned a manufacturing unit in South Africa and plans to enter Australia soon. It supplies explosives for mining, defence and infrastructure sectors. In the defence segment, it has an order book of Rs 430 crore, and is working to build capacity.

The company intends to grow 20 percent in the next two financial years as it expects higher demand for explosives from Coal India (CIL).

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