Solar Industries has agreed to acquire Omnia for a purchase consideration of ₹1,345,049,194 INR. Solar Industries, which manufactures industrial explosives primarily for mining and infrastructure, alongside a growing defence business, will acquire the entire Omnia group.
The acquisition includes Omnia’s mining customers, explosives technology, manufacturing and distribution network across Africa, and its ammonium-nitrate infrastructure. Omnia also operates a sizeable agriculture business. The deal provides Solar Industries with an established international business platform, rather than solely expanding its explosives capacity.
According to the source, building these capabilities from scratch could take years, and the acquisition offers customers, geographical access, and vertical integration without the need for ground-up development. In FY26, Omnia generated approximately ₹13,300 crore of revenue and around ₹1,500 crore of EBITDA. Omnia's EBITDA margin was about 11.5% in FY26, which is lower than Solar's EBITDA margin of around 28%.
Solar Industries aims to enhance Omnia's profitability over time. This strategy involves integrating Omnia's nitric-acid and ammonium-nitrate capabilities to improve raw-material supply. Solar also plans to sell its own initiating systems to Omnia’s existing mining customers and expects to achieve greater efficiencies from the combined business's increased scale. Management targets a combined revenue of ₹32,000 crore and EBITDA of ₹7,000 crore by FY28.
Solar Industries anticipates its total debt will reach approximately ₹11,000 crore by FY28, an increase from about ₹1,468 crore at the end of FY26. This acquisition occurs while Solar also has a separate ₹12,700 crore defence and aerospace investment plan spread over 10 years. The source notes that the deal's success hinges on the new business becoming more profitable and generating enough cash to support these investments.