(MENAFN- KNN India) New Delhi, Jun 2 (KNN) Solar Industries India Ltd (SIIL), a leading manufacturer of explosives and initiating systems, has announced a significant contract win worth Rs 402 crore from Coal India Ltd (CIL).

The agreement entails the supply of cartridge explosives and accessories over a two-year period.

This contract underscores SIIL's robust presence in the mining sector, particularly in providing essential materials for coal extraction processes.

The company's expertise in manufacturing bulk explosives, packaged explosives, and initiating systems positions it as a key player in supporting India's mining and infrastructure industries.

In addition to its mining sector engagements, SIIL has diversified into the defence sector since 2010, producing propellants for missiles and rockets, warheads, and related explosives. This diversification aligns with the Indian government's 'Make in India' initiative, promoting indigenous manufacturing capabilities.

Financially, SIIL has demonstrated strong performance. In the third quarter of FY25, the company's consolidated net profit rose by 54.86Rs to Rs 314.87 crore, with sales increasing by 38.06 per cent to Rs 1,973.08 crore compared to the same period in the previous fiscal year.

Following the announcement of the CIL contract, SIIL's shares experienced a slight uptick, trading at Rs 16,145.75 on the BSE. This contract adds to SIIL's growing portfolio of domestic and international orders, reinforcing its position as a leading supplier in both the mining and defence sectors.

With this new contract, SIIL continues to solidify its role in supporting India's energy and defence infrastructure through reliable supply of critical materials.

(KNN Bureau)

MENAFN02062025000155011030ID1109625148