The company said that the contract demonstrates its ability & agility in absorbing new technologies to develop products for the future.

“This is a first of its kind Loitering Munition made by an Indian company,” the firm added.

The contract is for a value of Rs 212 crore and it is expected to be delivered within a period of 1 year.

The Solar group is one of the largest domestic manufacturer and supplier of bulk and cartridge explosives, detonators, detonating cords, and components. It has manufacturing facilities in 25 locations in India, and plants in Nigeria, Zambia, South Africa, and Turkey.

The company reported 100.4% surge in consolidated net profit to Rs 204.58 crore on a 78% jump in net sales to Rs 1,811.75 crore in Q3 FY23 over Q3 FY22.

Shares of Solar Industries India rose 0.11% to Rs 3,768.50 on the BSE.