Tata Sons chairman N Chandrasekaran paid a 'courtesy visit' to defence manufacturer Solar Industries' facility in Nagpur on September 16, where he said the conglomerate will collaborate 'wherever there see a scope', without mentioning any specific project or company.
He added that India's defence sector will require several players to help create robust national capabilities, and the group will join hands wherever they see a scope.
Chandrasekaran reviewed Solar Industries' capabilities, missile and other defence production facilities during his visit. The Tata Group has been actively participating in defence programmes of strategic importance with the Ministry of Defence (MoD) as well as Defence Research and Development Organization (DRDO).
No Agenda for Visit?
Solar Industries' Chairman, Satyanarayan Nuwal said there was not agenda for the visit, but it was a matter for pride for the company.
"I cannot talk about the future, but there was no fixed agenda, because of which he came here to visit the factory... It was just a courtesy visit. Two days ago, we received a call from the Collector, and he said Mr Chandrasekharan wants to visit. It was indeed a matter of pride for us... The defence requirements and capabilities in India have a lot of scope, throughout the sector..," Satyanarayan Nuwal said.
Tatas Back Multiple Defence Players
Chairman Chandrasekaran told news agency ANI that no single firm can address all of the nation's defence needs, making a case for partnerships where required.
"Defence is a very important sector, and we will need multiple players. Nobody can solve the defence needs of the country alone; we all have to contribute. Wherever there is scope for collaboration, we will always collaborate. Today's visit was about understanding their facility and learning what they have," said Chandrasekaran.
"Whether it is ammunition, missiles, or other areas, the requirement for capabilities is immense. I don't want to use the word 'demand' because this is not about business -- it is about building capabilities required for the nation," Chandrasekaran added.
The Tata Group has partnered with global players for some of the major defence productions for fighter jets, helicopters, weapon systems, unmanned systems, as well as aero engine components.
Solar Industries: Financials and Orderbook
Solar Industries' turnover stood at Rs 2,154 crore during Q1FY26, a growth of 28 percent on year, with the international business recording a revenue of Rs 826 crore, its highest ever, growing at 43 percent on year. The company's defence revenue has reached Rs 418 crore, reflecting a growth of 115 percent on year. Solar Industries' defense order book stood at Rs 15,000 crore, with the upcoming commercialization of Pinaka orders this year is expected to boost the defense vertical to the next level of growth. The company has committed to a capex of Rs 2,500 crore for FY26, and is expected to ramp up it up to Rs 14,000–15,000 crore over the next 4-5 years, with a clear focus on defence.
"If you look at our annual guidance of Rs 10,000 crore, so we are still believing that we will definitely cross Rs 10,000 crores in this financial year. And out of that, Rs 3,000 crore should be some defense and nondefense should add to around Rs 7,000 crore. And as far as the products, which will give the momentum will be one of the key products is Pinaka series of rockets, should start from end of Q2 or start of the Q3," MD and CEO Manish Nuwal said during the June quarter earnings call.
Upcoming Big Ticket Projects
Solar Industries has in the recent past indicated that they would be participating in the upcoming Medium Altitude Long Endurance (MALE) UAVs tenders, which has a potential of around Rs 20,000 crore. The commercial production at the 155 mm shell facility is expected to start soon, the company has said, and it recently bagged the Nagastra-1 order worth Rs 160 crore, slated to be executed over the next 12 months.
The shares of Solar Industries are higher by 49 percent on a YTD basis and over last three years, they are up by 308 percent.
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