The contract is to be executed within a year, the company said.
On another note, Pankaj Tibrewal, the founder and CIO of Ikigai Asset Manager,
last week told CNBC-TV18 that long-term wealth in the equity market isn’t built on short-term movements but on a consistent focus on quality promoters, strong fundamentals and the courage to stay the course through downturns.
He cited the example of Solar Industries, a company he first identified when its market cap was just ₹1,000 crore. He explained how a low profile, high-conviction investment turned into a massive wealth creator. “They came out with an IPO in 2006, raised ₹80 crore, and over the next several years, just one small dilution of ₹100 crore. Today, the market cap is ₹1.5 lakh crore,” he said.
The promoter family’s consistent reinvestment into the business and their visible “passion, integrity, and skin in the game”—holding on to nearly 75% of the company, is what stood out for him. Even during long periods of no revenue, such as their early bets in the defence sector, they continued investing, demonstrating commitment and conviction.
Solar Industries reported a 43.4% increase in its fourth quarter net profit at ₹348 crore from ₹242.7 crore in the previous fiscal.
Its revenue for the March quarter was up 34.5% at ₹2,166.6 crore form ₹ 1,610.7 crore in the previous year.
The company’s earnings before interest taxes depreciation and amortisation was up 52.6% at ₹539.7 crore from ₹353.7 crore in FY24.
Its margin expanded to 24.2% from 22% in the year-ago period.
Shares of Solar Industries India Ltd. were up 0.38% at ₹17,072 apiece at 1.30 pm on Monday, June 23. The stock has gained 11.3% in the past month and 73% this year, so far.
Also Read: NBCC shares gain 3% after ₹296 crore order win from Meerut Development Authority
