This defence company's drones were part of Operation Sindoor success, shares hit 52-week high today

Solar Industries, a defence equipment and explosives manufacturer was in the spotlight today after its shares hit a fresh 52-week high. The stock rose 1.3% to hit a new lifetime high of ₹13,910 per share on NSE.

Solar Industries, along with other defence stocks, has been in focus this month amid cross-border tensions with Pakistan. Nagastra drones, which were manufactured by Solar Industries, were used in the recent Operation Sindoor launched by the Indian armed forces.

The stock has gained nearly 5% so far in May and is up over 41% in 2025. Solar Industries is one of the leading manufacturers of industrial and military explosives, rockets, missiles and drones. The company has worldwide presence with 40 manufacturing facilities and a global footprint in 82+ countries.

The company is yet to announce its March quarter results. However, the company reported net sales of ₹1,973 crore, up 38% YoY in the December quarter, while its profit after tax rose 52% YoY to ₹338 crore. Meanwhile, EBITDA stood at 536 crore, rising 46% YoY compared to Q3FY24.

In the first nine months of FY25, the defence segment contributed 17% to total sales, while Coal India contributed 12% to total sales. International business has a 40% share in total sales.

As of 1:30 pm, Solar Industries shares are trading 0.7% higher at ₹13,821 per share, with a day high of ₹13,910 and a market cap of ₹1,25,066 crore. As of the December quarter, promoter holding in the company stood at 73.15%, while public shareholding is at 26.8%.

SBI (4.39%), Kotak Fund (3.14%), HDFC (1.5%) are among key public shareholders, while Fidelity, Fiam & Variable group (1.19%), Vanguard (1.08%), Ishares (0.99%) are key FIIs shareholders.