Intimation of receipt of order of Rs. 402 Crores from Coal India Limited.
Awaiting price reaction for this filing.
Solar Industries India Limited has received an order worth Rs. 402 Crores from Coal India Limited for the supply of Cartridge Explosives and Accessories. The order is to be delivered over a period of two years. Coal India Limited is a domestic public sector undertaking and there is no related party interest in the transaction. The order adds to the company's existing business from one of India's largest mining companies.
Positive for the company as it provides revenue visibility over the next two years from a reputed government PSU client, reinforcing its position in the domestic explosives market. However, the order size is moderate relative to the company's annual revenue and is unlikely to cause a significant stock price reaction on its own.