Solar Industries Acquires Omnia Holdings for $1.35B

Solar Overseas Investments Proprietary Limited (wholly owned step-down subsidiary) has signed definitive agreements for proposed acquisition of Omnia Holdings Limited
All-cash transaction valued at $1.35 billion
Omnia Holdings Limited is a leading diversified mining and agritech company headquartered in South Africa
Transaction remains subject to customary regulatory, shareholder, and other closing approvals and conditions
Until completion, Solar and Omnia will continue to operate as independent businesses

Creates integrated global platform for commercial explosives and blasting solutions
Expands Solar's manufacturing presence from 11 to 25+ countries
Expands distribution network to 100+ countries
Omnia's mining business operates under BME brand with expertise in opencast mining, bulk explosives, electronic detonation systems, digital blasting solutions, and mining chemicals
Omnia's agriculture segment provides technology-driven crop nutrition products and services using proprietary Nutriology model and AgriBio solutions
Key strategic asset: Omnia's integrated manufacturing infrastructure including nitric acid and ammonium nitrate production facilities (largest in region)
Recent expansion includes new 5,000-ton ammonium nitrate storage tank doubling capacity

Management projects combined FY28 revenue of approximately ₹31,000-32,000 crores
FY28 EBITDA projected at ₹6,800-7,000 crores (including synergy benefits)
FY28 EBIT projected at approximately ₹6,300 crores
Debt expected to be ₹10,000-11,000 crores by FY28
Debt-to-EBITDA ratio projected to remain below 2x
Omnia's FY26 cash generation (PAT + depreciation): ~$110 million
Omnia's projected EBITDA (without synergy): ~$180 million
Solar's FY27 projection: ~₹14,000 crores revenue with 28-29% EBITDA margin
Solar's FY28 projection: ~₹16,500 crores revenue

Acquisition to be funded through internal accruals and debt
No equity issuance or dilution planned
Utilization of Omnia's balance sheet cash surplus
Debt to be taken on Omnia's books with any shortfall arranged through acquiring company

Vertical integration through Omnia's ammonium nitrate production capabilities
Solar's initiating systems business to complement Omnia's operations
Integration with Problast (Solar's South African acquisition in 2024) for down-the-hole services
Technology sharing between Solar and Omnia/BME
Enhanced supply chain resilience and raw material availability
Improved operational flexibility and long-term cost competitiveness

Significant expansion in African market presence - revenue expected to increase from current $300 million to ~$1 billion
Entry into new markets where Omnia has presence: USA, Canada, Brazil
Focus remains on India and African markets as primary strategic regions

Acquisition described as "transformational milestone" in Solar's global ambition
Expected benefits to become visible from FY28 onwards
No dilution of focus on defense business - existing ₹12,000 crore capex program to continue
Agriculture business viewed as complementary vertical rather than core focus
No immediate plans to expand agriculture business into Indian market