SOLAR INDUSTRIES INDIA LIMITED

SOLAR INDUSTRIES INDIA LIMITED

Previous company name
SOLAR EXPLOSIVES LIMITED
Name change date
2/17/2009
Company Overview
Solar Explosives Ltd., headquartered in Maharashtra, is one of the largest manufacturers of comprehensive explosives and explosive initiating devices in India with a licensed and installed capacity of 175,000 metric tons of explosives, 140 million detonators and 20 million meters of detonating fuse. The company’s core business involves the production of explosives such as large diameter cartridge explosives, small diameter explosives, detonators and detonating cords. The company was established in 1996.
Solar Explosives aspires to become the premier explosives and explosive accessories manufacturer globally; focusing on delivering innovation, diversity, and quality in its uniquely customized products and services. The company strives to provide innovative technology and services through research and development.
Solar Explosives has manufacturing facilities in Nagpur, Maharashtra. This ISO 9001 certified facility has a licensed capacity of 80,000 TPA of all kinds of explosives. In addition it has a storage capacity of 450 MT explosives, 50 Lac detonators and 60 Lac meters of detonating fuse. The company markets its products to South East Asia, Middle East and various African countries.
Business Summary
The Company is a comprehensive explosives and explosive initiating devices manufacturing company.
Description and history
The Company is a comprehensive explosives and explosive initiating devices manufacturing company.

HISTORY:

The Company was incorporated on Feb. 24, 1995.

The ISO 9001 certified company and its subsidiaries offer a range of products including slurry and emulsion base explosives, bulk explosives, detonators, detonating fuse, pentaerythritol tetranitrate (PETN), cast boosters, and accessories for the products. The manufacturing units are located in Nagpur with a licensed capacity of 195,000 tons of explosives, which includes 140 million detonators, 20 million meters of detonating cord, 250 tons of PETN and 60 tons of cast boosters. The company has raised funds through an initial public offering in 2006 for expanding its bulk explosives facility.

The subsidiaries of the company include Economic Explosives, Solar Capitals, Solar Components, Industries, Solar Mines & Minerals, Solar Mining Resources and Solar Nigachem Nigeria. The Company has been amalgamated with the company in August 2007.

The Company is one of the largest suppliers of packaged explosives to Coal India, which consumes over 70% of the country`s demand. In August 2007, the company received an order valued at Rs 1116.34 million for the supply of bulk explosives through its subsidiary Solar Capitals.

Besides Coal India, other customers include major public sector and private sector companies involved in national hydro-electric projects and companies in the infrastructure and construction sector like Steel Authority of India, Singareni Collieries Company, Hindustan Zinc, Cement Industry, Border Roads Organization, among others. The registered and corporate office of the company is located at 11, Zade Layout, Bharat Nagar, Nagpur-440033.

Financials
The company disclosed rise of 47.16% in consolidated net profit on y-o-y basis to Rs 180.28 million, while total income climbed 35.23% y-o-y basis to Rs 1.59 billion for the quarter ended September 2010.

Business Line
Production of explosives such as large diameter cartridge explosives, small diameter explosives, detonators and detonating cords
Subsidiary
ECONOMIC EXPLOSIVES LTD.
Advisor
GANDHI RATHI & CO.
IPO date
4/3/2006
US SIC Code
2892
Company Address
11, Zade Layout, Bharat Nagar

City province or state postal code
440 033, NAGPUR
Phone: +91 712-2561000
Fax: +91 712-2560202
Country address: INDIA
Website url: www.solarexptosives.com