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Solar Industries plans to venture into the business of propulsion system for space application, which is synergistic with its current business of ammunition.
Manish Nuwal, Managing Director and CEO, Solar Industries, said the Small Satellite Launch Vehicle (SSLV) is a great business opportunity for private players for the next few decades. The government is framing a space policy to create an environment for private industry to serve India’s commercial and strategic needs and also make the country a global space technology hub, he added.
The proposed foray of the company in the space sector will enable it to develop and offer products which will cater to the demand of ISRO and other companies in India and across the globe.
The company has received fresh orders for a Guided Pinaka Rocket. A request for proposals s for Pinaka and multimode hand grenade has been floated. Its current order book from defence stands at ₹390 crore. “We are expecting a revenue of ₹300 crore this year despite lower sales in the first quarter,” said the firm.
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