The company also clarified that neither its promoters nor any member of the promoter group has any interest in the awarding authority, and the transaction does not fall under the category of related party transactions as per regulatory requirements.

Solar Industries India (SIIL) is the flagship company of the Solar Group. SIIL, along with its subsidiaries, manufactures bulk explosives, packaged explosives, and initiating systems, which find application in the mining, infrastructure, and construction industries.

The company’s consolidated net profit jumped 18.2% to Rs 338.70 crore on 27.9% increase in revenue from operations to Rs 2,154.45 crore in Q1 FY26 over Q1 FY25.

The scrip declined 1.12% to Rs 13,986.80 on the BSE.