Solar Industries India Ltd on Monday said that its arm Economic Explosives Ltd. has bagged a Rs 212 crore order for the supply of loitering munition to the Defense Ministry. The industrial explosives manufacturer will have to deliver the order in one year.

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Economic Explosives Ltd. is a wholly-owned subsidiary of Solar Industries India Ltd., which is a leading global manufacturer of industrial explosives.

In the December quarter, the company reported 78 percent year-on-year jump in net sales at Rs 1,811.75 crore as against Rs 1,017.87 crore in the same quarter a year ago.

Last year, Solar Industries became the first private sector company in India to receive an export order for ready-to-use ammunition worth Rs 300 crore.

As of December quarter, promoters held 73.1 percent stake in the company, while the remaining stake was held by mutual funds, Foreign Portfolio Investors (FPIs) among others.

Shares of Solar Industries ended 0.5 percent higher at Rs 3,850.