Solar Industries’ proposed Rs 13,000-crore acquisition of South Africa-based Omnia Holdings is expected to reshape its revenue mix, reducing defence’s projected contribution to 22-25% by FY30 from the earlier 35-40% estimate, according to Jefferies.
Omnia generates 54% of its revenue from agriculture, primarily fertilisers, while the remainder largely comes from mining explosives. Following the acquisition, agriculture could contribute around 24% of Solar Industries’ consolidated revenue by FY30, while explosives could account for approximately 52%.
