Solar Industries India Limited , a prominent player in the industrial explosives sector, has announced the appointment of two new Additional Directors to strengthen its board. The company's Board of Directors approved these appointments on September 17, 2025, based on recommendations from the Nomination and Remuneration Committee.

Ms. Girija Balakrishnan: Legal Expert Joins the Board

Ms. Girija Balakrishnan, a law graduate from the prestigious National Law School of India, Bangalore, has been appointed as a Non-Executive Independent Director for a five-year term, effective September 18, 2025. With over 31 years of experience, Ms. Balakrishnan brings extensive expertise in:

• Corporate Laws
• Mergers and Acquisitions
• Commercial Laws
• Foreign Direct Investments
• Joint Ventures and Foreign Collaboration

Her appointment is subject to shareholder approval, and she will serve as an Additional Director in the interim. Ms. Balakrishnan is a member of the Bar Council of Karnataka and has handled litigations before various courts, tribunals, and SEBI.

Shri Viswanathan Lakshmanan: Financial Veteran Enhances Board Expertise

Shri Viswanathan Lakshmanan has been appointed as a Non-Executive Independent Director for a five-year term, effective October 18, 2025. His impressive credentials include:

• Fellow Member of the Institute of Cost Accountants of India (ICAI)
• Certified Public Accountant (CPA) from the USA
• 42 years of leadership experience across diverse industries

Shri Lakshmanan's career highlights include:

• Over 27 years at Stock Holding Corporation of India Limited (SHCIL)
• Served as Group CFO and Head HR at SHCIL
• Chairman of SHCIL's Management Committee

His extensive experience spans Financial Services, Information Technology, Media, and Pharmaceutical industries, with global business dealings.

Strengthening Corporate Governance

Both appointments underscore Solar Industries India's commitment to enhancing its corporate governance structure. The company has confirmed that neither Ms. Balakrishnan nor Shri Lakshmanan is related to any existing board members. Furthermore, both appointees are not debarred from holding directorial positions by SEBI or any other authority.

These strategic additions to the board are expected to bring fresh perspectives and valuable insights to Solar Industries India Limited, potentially contributing to the company's future growth and strategic decision-making processes.

Shareholders will have the opportunity to approve these appointments, reinforcing the company's adherence to regulatory requirements and commitment to transparency in corporate governance.

Solar Industries India Limited , a leading manufacturer of explosives and ammunition, has reported a robust financial performance for the quarter, with significant growth in revenue and profitability.

Strong Revenue Growth

The company achieved a revenue of INR 2,154.00 crores, marking a 28% increase from INR 1,685.00 crores in the same quarter of the previous year. This impressive growth was primarily driven by strong performances in the defense and international business segments.

Record-Breaking Profitability

Solar Industries recorded its highest ever quarterly EBITDA of INR 564.00 crores and PAT of INR 353.00 crores. The company's Managing Director and CEO, Manish Nuwal, expressed satisfaction with these results, highlighting the resilience of their operational and financial performance.

Defense Segment Surge

The defense segment emerged as a key growth driver, with revenue surging by 115% to reach INR 418.00 crores. The company's defense order book stands at an impressive INR 15,000.00 crores, indicating strong future growth potential in this sector.

International Business Expansion

International business also showed remarkable growth, with revenue increasing by 43% to INR 826.00 crores. This performance was attributed to the company's strategic manufacturing facilities in 9 countries and its global distribution network spanning 90 countries.

Product Development and Testing

Solar Industries successfully tested two new missile systems, Bhargavastra and Rudrastra, during the quarter. These developments, along with repeat orders for UAVs and multi-mode hand grenades, have reinforced the company's position as a trusted partner in India's self-reliance initiative for defense production.

Domestic Market Challenges

While the overall performance was strong, the domestic explosives market faced some challenges due to early monsoon conditions, which impacted demand in the mining sector. However, the company remains optimistic about growth in the mining, housing, and infrastructure sectors in the upcoming quarters.

Future Outlook

Solar Industries has set an ambitious target of achieving INR 10,000.00 crore revenue for FY2026, including INR 3,000.00 crore from the defense sector and INR 3,500.00-4,000.00 crore from international operations. To support this growth, the company plans to invest INR 2,500.00 crores in capital expenditure.

Mr. Nuwal commented, "With a proven global footprint and deep integration into commercial exposures, Solar is now strategically positioning itself as a global supply chain partner in the defense sector, unlocking new opportunities and enhancing long-term value for stakeholders."

As Solar Industries continues to expand its presence in both domestic and international markets, particularly in the high-growth defense sector, the company appears well-positioned for sustained growth in the coming years.