Solar Industries Unit Wins Rs 2.39-Bn Defence Contract for Hand Grenades

05 Mar 2025 CW Team

Solar Industries India, through its wholly-owned subsidiary Solar Defence and Aerospace, has secured a Rs 2.39 billion contract from the Ministry of Defence. Under the agreement, the company will supply multi-mode hand grenades, with delivery scheduled within a year. This contract strengthens the company’s role in the defence sector by enhancing national security capabilities.

Solar Defence and Aerospace specialises in manufacturing and supplying advanced defence products. Recently, Solar Industries India, along with its subsidiary, received orders worth Rs 21.50 billion from an international entity for the supply of defence equipment. These orders are expected to be fulfilled over the next six years.

Despite steady growth in the defence segment, the company has revised its revenue projections for FY25. The previously set 30 per cent revenue growth target will not be achieved due to a slowdown in the domestic market. While defence revenue is expected to remain stable, fluctuations of 5-10 per cent are anticipated. The execution timeline for the Pinaka order is projected to extend over 8-12 years. However, the company expects an improvement in profit margins despite the slower revenue growth.

Financial performance in the December quarter reflected strong growth, with net profit increasing by 55 per cent to Rs 3.14 billion. Revenue for the quarter rose by 38 per cent to Rs 19.73 billion, compared to Rs 14.29 billion in the same period the previous year.

News source: CNBC TV18

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..