New Delhi, Sept. 10 -- Solar Industries India Ltd has delivered a whopping return of over 80% in 2026 so far, as the industrial explosives manufacturer's rapidly expanding defence business drives strong earnings growth. With continued investment in domestic defence modernization and higher global military spending, the defence segment is expected to become increasingly significant to Solar Industries.

The company's defence order book, including international and domestic orders, stood at Rs.18,000 crore as of the June quarter-end (Q1FY27), or nearly six times the segment's trailing 12-month revenue. Strong defence order inflows have helped the total order book reach Rs.21,350 crore, up more than four times from the Rs.5,100 crore at FY24...