SOLARINDSSolar Industries India Ltd
Solar Industries’ subsidiary signs an agreement to buy Sivasakthi Industrial Explosives for ₹115 crore
- Mergers & acquisitions
- Explosives
Solar Industries India Limited has told the exchanges that its wholly owned subsidiary, Solar Explochem Limited, signed a share purchase agreement on 15 Oct 2026 to acquire 100% of the issued and paid-up equity share capital of Sivasakthi Industrial Explosives Private Limited. The total consideration is ₹115.02 crore, payable in cash, and the acquisition is to be completed within 12 months.
Sivasakthi was incorporated in 2008 in India and manufactures, processes, distributes and trades in explosives for industrial mining and other purposes. Its turnover was nil in FY2025-26, ₹34.99 lakh in FY2024-25 and about ₹1.26 crore in FY2023-24.
The agreement is subject to the terms and conditions that the parties may agree, as stated in the filing.
Inference
For shareholders, the filing shows Solar Industries paying about ₹115 crore for a company in its own line of business whose recent turnover is very small. The filing does not say why the price is higher than the acquired company's sales suggest, which could be its licences, plant or land; it does not describe the assets.
The deal is not complete: the filing allows up to 12 months and refers to terms yet to be agreed. Investors may want to look for later disclosures on the assets acquired and on completion, since the acquired company's turnover gives little guide to its value.
Reference: Original filing (PDF)
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