Shares of Solar Industries India Ltd are in focus after the company announced its largest overseas expansion with a $1.35 billion (Rs 12,951 crore) acquisition of South African chemicals firm Omnia Holdings.
The all-cash transaction will give Solar Industries 100% ownership of Omnia, subject to customary approvals. The acquisition will be carried out through Solar SA Investments Proprietary and Solar Overseas Mauritius, both wholly owned step-down subsidiaries of Solar Industries. The transaction is expected to close by early to mid 2027, as per company's press release.
The deal strengthens Solar Industries' presence in Africa's mining sector through Omnia's Bulk Mining Explosives (BME) business. BME provides sustainable mining solutions and has an established presence across several international markets.
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Omnia operates across 23 countries and reported FY26 revenue of $1.41 billion. Following completion, the company will be delisted from the Johannesburg Stock Exchange and A2X Markets.
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Solar Industries said the acquisition will create a platform for commercial explosives and blasting solutions while expanding its technology capabilities, manufacturing base and access to mining customers.
The company expects the benefits of the expanded African footprint to become increasingly visible from FY2028, with revenue from the region's mining market expected to grow substantially.
The acquisition also builds on Solar Industries' presence in Africa. The company began operations in the Southern African Development Community in 2010 and subsequently expanded its manufacturing and distribution network.
Solar Group Managing Director and CEO Manish Nuwal said Omnia's BME business brings technological expertise, manufacturing assets and electronic initiation systems that could help create an integrated global blasting platform.
Meanwhile, Solar Industries shares have delivered strong returns recently. The stock closed at around Rs 22,290 on Friday, while it gains of nearly 59% over six months, keeping the stock near its 52 week high.
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