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:
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Nifty
Sensex
:
:
25571.25
82814.71
116.90 (0.46%)
316.57 (0.38%)

Solar Industries India Ltd.

Explosives

Rating :
71/99

BSE: 532725 | NSE: SOLARINDS

NSE BSE
13296.00
20-Feb-2026
  • Open
  • High
  • Low
  • Previous Close
  •  13350
  •  13589
  •  13211
  •  13370.00
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  113458
  •  1521585065
  •  17820
  •  8482.5

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 1,20,160.84
  • 82.75
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 1,20,688.75
  • 0.08%
  • 21.52

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 73.15%
  • 1.33%
  • 5.33%
  • FII
  • DII
  • Others
  • 6.74%
  • 12.43%
  • 1.02%

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 17.94
  • 24.55
  • 2.89

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 20.43
  • 30.43
  • 8.55

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 22.14
  • 34.35
  • 16.89

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 52.35
  • 69.18
  • 88.51

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 14.70
  • 18.78
  • 22.88

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 35.40
  • 43.64
  • 50.75

Earnings Forecasts:

(Updated: 21-02-2026)
Description
2024
2025
2026
2027
Adj EPS
133.65
185.58
239.36
286.87
P/E Ratio
99.48
71.65
55.55
46.35
Revenue
7540.26
9863.18
12489.2
15197.7
EBITDA
1960.36
2612.09
3363
4117.38
Net Income
1209.44
1669.37
2146.98
2615.25
ROA
17.28
23.36
24.78
22.75
P/B Ratio
27.43
20.30
15.03
11.61
ROE
31.45
32.34
31.17
28.92
FCFF
1468.83
-358.58
170.98
1031.59
FCFF Yield
1.22
-0.3
0.14
0.86
Net Debt
-279.5
847.08
816.9
956.45
BVPS
484.73
654.98
884.73
1145.61

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Dec 25
Dec 24
Var%
Sep 25
Sep 24
Var%
Jun 25
Jun 24
Var%
Mar 25
Mar 24
Var%
Net Sales
2,548.32
1,973.08
29.15%
2,082.22
1,715.83
21.35%
2,154.45
1,684.80
27.88%
2,166.55
1,610.71
34.51%
Expenses
1,840.12
1,446.54
27.21%
1,529.43
1,271.06
20.33%
1,619.60
1,235.42
31.10%
1,626.88
1,257.01
29.42%
EBITDA
708.20
526.54
34.50%
552.79
444.77
24.29%
534.85
449.38
19.02%
539.67
353.70
52.58%
EBIDTM
27.79%
26.69%
26.55%
25.92%
24.83%
26.67%
24.91%
21.96%
Other Income
25.07
9.54
162.79%
29.18
30.45
-4.17%
29.26
24.29
20.46%
6.55
17.65
-62.89%
Interest
34.38
30.51
12.68%
30.89
29.74
3.87%
27.43
27.47
-0.15%
28.78
31.52
-8.69%
Depreciation
62.85
47.42
32.54%
60.62
43.61
39.00%
55.98
39.98
40.02%
50.49
37.01
36.42%
PBT
636.04
458.15
38.83%
490.46
401.87
22.04%
480.70
406.22
18.33%
466.95
302.82
54.20%
Tax
169.37
121.61
39.27%
128.07
103.19
24.11%
128.14
107.75
18.92%
118.26
62.67
88.70%
PAT
466.67
336.54
38.67%
362.39
298.68
21.33%
352.56
298.47
18.12%
348.69
240.15
45.20%
PATM
18.31%
17.06%
17.40%
17.41%
16.36%
17.72%
16.09%
14.91%
EPS
49.31
34.79
41.74%
38.12
31.59
20.67%
37.43
31.65
18.26%
35.61
25.97
37.12%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Net Sales
8,951.54
7,540.26
6,069.52
6,922.53
3,947.61
2,515.63
2,237.30
2,461.57
1,916.12
1,579.99
1,448.62
Net Sales Growth
28.16%
24.23%
-12.32%
75.36%
56.92%
12.44%
-9.11%
28.47%
21.27%
9.07%
 
Cost Of Goods Sold
4,489.06
3,907.29
3,196.17
4,342.37
2,327.33
1,346.77
1,215.00
1,400.94
1,063.58
907.22
876.97
Gross Profit
4,462.48
3,632.97
2,873.35
2,580.16
1,620.28
1,168.86
1,022.30
1,060.63
852.54
672.77
571.65
GP Margin
49.85%
48.18%
47.34%
37.27%
41.04%
46.46%
45.69%
43.09%
44.49%
42.58%
39.46%
Total Expenditure
6,616.03
5,598.13
4,700.31
5,633.61
3,213.05
2,001.03
1,802.98
1,959.63
1,515.30
1,256.10
1,145.99
Power & Fuel Cost
-
81.90
60.09
61.64
42.59
32.12
30.64
28.90
20.76
18.59
17.66
% Of Sales
-
1.09%
0.99%
0.89%
1.08%
1.28%
1.37%
1.17%
1.08%
1.18%
1.22%
Employee Cost
-
547.02
400.45
330.60
267.47
221.97
195.95
174.06
133.48
104.31
87.63
% Of Sales
-
7.25%
6.60%
4.78%
6.78%
8.82%
8.76%
7.07%
6.97%
6.60%
6.05%
Manufacturing Exp.
-
186.45
151.68
133.00
106.71
76.56
81.44
75.31
99.34
64.93
53.53
% Of Sales
-
2.47%
2.50%
1.92%
2.70%
3.04%
3.64%
3.06%
5.18%
4.11%
3.70%
General & Admin Exp.
-
198.50
145.10
109.39
105.77
70.62
65.55
59.96
60.89
45.83
40.50
% Of Sales
-
2.63%
2.39%
1.58%
2.68%
2.81%
2.93%
2.44%
3.18%
2.90%
2.80%
Selling & Distn. Exp.
-
496.37
363.97
367.51
225.22
155.78
139.35
137.65
70.25
44.57
33.80
% Of Sales
-
6.58%
6.00%
5.31%
5.71%
6.19%
6.23%
5.59%
3.67%
2.82%
2.33%
Miscellaneous Exp.
-
180.60
382.85
289.10
137.96
97.21
75.05
82.81
67.00
70.65
33.80
% Of Sales
-
2.40%
6.31%
4.18%
3.49%
3.86%
3.35%
3.36%
3.50%
4.47%
2.48%
EBITDA
2,335.51
1,942.13
1,369.21
1,288.92
734.56
514.60
434.32
501.94
400.82
323.89
302.63
EBITDA Margin
26.09%
25.76%
22.56%
18.62%
18.61%
20.46%
19.41%
20.39%
20.92%
20.50%
20.89%
Other Income
90.06
89.06
44.47
31.52
32.36
21.42
41.05
14.72
22.83
13.21
14.87
Interest
121.48
116.50
109.37
90.38
50.25
45.39
55.04
49.87
32.72
26.89
20.44
Depreciation
229.94
181.50
143.38
128.21
109.25
93.53
84.53
58.89
51.29
38.74
32.82
PBT
2,074.15
1,733.19
1,160.93
1,101.85
607.42
397.10
335.80
407.90
339.64
271.47
264.24
Tax
543.84
450.81
286.05
290.41
151.95
109.03
57.13
125.05
106.05
76.74
86.74
Tax Rate
26.22%
26.01%
24.64%
26.36%
25.02%
27.46%
17.01%
31.12%
31.22%
28.27%
32.83%
PAT
1,530.31
1,209.44
835.93
757.19
441.28
276.35
267.43
261.61
220.55
186.54
163.66
PAT before Minority Interest
1,455.74
1,287.93
875.23
811.17
455.47
288.07
278.67
276.80
233.59
194.73
177.50
Minority Interest
-74.57
-78.49
-39.30
-53.98
-14.19
-11.72
-11.24
-15.19
-13.04
-8.19
-13.84
PAT Margin
17.10%
16.04%
13.77%
10.94%
11.18%
10.99%
11.95%
10.63%
11.51%
11.81%
11.30%
PAT Growth
30.37%
44.68%
10.40%
71.59%
59.68%
3.34%
2.22%
18.62%
18.23%
13.98%
 
EPS
169.10
133.64
92.37
83.67
48.76
30.54
29.55
28.91
24.37
20.61
18.08

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Shareholder's Funds
4,386.34
3,305.60
2,610.34
1,914.28
1,579.41
1,380.09
1,238.33
1,083.86
928.59
805.45
Share Capital
18.10
18.10
18.10
18.10
18.10
18.10
18.10
18.10
18.10
18.10
Total Reserves
4,368.24
3,287.50
2,592.24
1,896.18
1,561.31
1,361.99
1,220.23
1,065.76
910.49
787.35
Non-Current Liabilities
1,455.04
648.37
525.72
496.63
497.89
317.04
242.60
290.75
226.40
211.07
Secured Loans
320.98
472.72
390.99
397.76
401.18
219.06
115.17
162.71
147.34
134.07
Unsecured Loans
72.90
110.83
81.72
38.10
32.03
33.74
36.39
33.39
0.62
0.64
Long Term Provisions
5.32
3.44
2.64
1.00
0.91
1.92
0.15
0.18
0.00
0.00
Current Liabilities
2,113.88
1,501.42
1,632.32
1,117.88
819.43
732.15
724.47
565.98
526.50
447.89
Trade Payables
887.13
552.65
488.48
464.94
286.08
154.43
163.30
143.33
89.32
108.03
Other Current Liabilities
931.12
715.72
733.83
382.50
310.70
208.67
234.60
175.08
172.04
130.91
Short Term Borrowings
218.77
198.88
333.01
237.07
193.98
357.27
314.27
229.28
260.99
208.95
Short Term Provisions
76.86
34.17
77.00
33.37
28.67
11.78
12.30
18.29
4.15
0.00
Total Liabilities
8,105.54
5,577.04
4,908.74
3,629.42
2,959.42
2,480.79
2,252.95
1,987.97
1,721.75
1,512.21
Net Block
2,692.01
2,027.72
1,701.83
1,492.73
1,287.53
1,208.55
1,042.88
923.28
776.77
702.79
Gross Block
3,472.73
2,614.55
2,210.20
1,923.56
1,622.57
1,455.90
1,213.56
1,037.78
839.76
861.51
Accumulated Depreciation
780.72
586.83
508.37
430.83
335.04
247.35
170.68
114.50
62.99
158.72
Non Current Assets
3,979.03
2,928.66
2,407.39
1,965.56
1,733.76
1,497.29
1,290.45
1,169.29
989.82
863.21
Capital Work in Progress
706.98
489.79
282.03
230.37
292.88
164.97
177.56
107.40
90.93
30.44
Non Current Investment
147.30
156.47
78.51
18.22
0.97
2.33
2.56
3.04
3.50
9.17
Long Term Loans & Adv.
429.79
254.52
345.02
220.21
149.64
119.80
65.51
134.62
116.83
119.57
Other Non Current Assets
2.95
0.16
0.00
4.03
2.74
1.64
1.94
0.95
1.79
1.24
Current Assets
4,122.53
2,648.38
2,501.35
1,660.95
1,225.66
983.50
961.97
817.08
731.93
649.00
Current Investments
528.97
213.44
20.00
0.00
0.00
0.02
30.08
14.01
49.75
30.92
Inventories
1,039.98
846.82
1,097.99
718.87
440.49
330.98
282.74
232.42
181.07
159.86
Sundry Debtors
1,238.58
844.85
825.28
541.10
455.48
370.32
399.04
363.58
319.06
270.98
Cash & Bank
725.48
287.26
260.09
98.75
181.20
120.14
91.76
69.46
39.39
36.71
Other Current Assets
589.52
69.05
31.33
35.24
148.49
162.04
158.35
137.61
142.66
150.53
Short Term Loans & Adv.
469.33
386.96
266.66
266.99
123.00
149.99
149.98
119.88
124.60
119.62
Net Current Assets
2,008.65
1,146.96
869.03
543.07
406.23
251.35
237.50
251.10
205.43
201.11
Total Assets
8,101.56
5,577.04
4,908.74
3,626.51
2,959.42
2,480.79
2,252.42
1,986.37
1,721.75
1,512.21

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Cash From Operating Activity
2,467.56
1,406.01
656.48
297.80
356.68
324.81
313.75
254.10
117.62
243.28
PBT
1,733.19
1,160.93
1,101.85
607.42
397.10
335.80
401.85
339.64
271.47
264.24
Adjustment
323.05
364.21
335.76
162.27
168.94
130.31
142.72
104.26
16.94
51.51
Changes in Working Capital
814.38
180.42
-526.72
-312.29
-105.27
-33.35
-101.40
-100.35
-111.76
-25.52
Cash after chg. in Working capital
2,870.62
1,705.56
910.89
457.40
460.77
432.76
443.17
343.55
176.65
290.23
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
-403.06
-299.55
-254.41
-159.60
-104.09
-107.95
-129.42
-89.45
-59.03
-46.95
Other Direct Exp. Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Extra & Other Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Cash From Investing Activity
-1,593.21
-727.34
-518.97
-303.05
-250.74
-212.24
-202.26
-174.33
-170.40
-140.83
Net Fixed Assets
-295.00
-225.76
-160.71
-102.64
-146.32
-66.41
-116.63
-61.47
13.94
-72.03
Net Investments
-191.63
-440.92
-80.62
-17.26
1.34
-37.69
-26.66
36.98
-36.15
-7.75
Others
-1,106.58
-60.66
-277.64
-183.15
-105.76
-108.14
-58.97
-149.84
-148.19
-61.05
Cash from Financing Activity
-476.36
-370.28
118.16
-45.40
-26.07
-33.62
-51.74
-53.21
53.27
-91.62
Net Cash Inflow / Outflow
397.99
308.39
255.67
-50.65
79.87
78.95
59.75
26.56
0.49
10.83
Opening Cash & Equivalents
258.98
245.04
84.67
169.93
92.56
61.00
52.49
25.93
25.44
14.61
Closing Cash & Equivalent
590.43
258.98
245.04
84.67
169.93
92.56
61.00
52.49
25.93
25.44

Financial Ratios

Consolidated /

Standalone
Description
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Mar 16
Book Value (Rs.)
484.68
365.26
288.44
211.52
174.52
152.50
136.83
119.76
102.61
89.00
ROA
18.83%
16.69%
19.00%
13.83%
10.59%
11.77%
13.05%
12.59%
12.04%
12.24%
ROE
33.49%
29.59%
35.86%
26.07%
19.47%
21.29%
23.84%
23.21%
22.46%
22.46%
ROCE
38.11%
31.03%
36.34%
25.56%
19.87%
19.89%
26.24%
24.57%
22.67%
24.24%
Fixed Asset Turnover
2.48
2.52
3.35
2.25
1.66
1.68
2.19
2.08
2.01
2.00
Receivable days
50.43
50.22
36.02
45.64
59.10
62.76
56.54
63.84
62.93
53.60
Inventory Days
45.67
58.48
47.90
53.10
55.21
50.06
38.19
38.67
36.36
37.65
Payable days
38.09
37.92
25.49
38.93
51.02
31.41
29.72
28.88
29.94
28.20
Cash Conversion Cycle
58.00
70.78
58.43
59.82
63.30
81.41
65.01
73.63
69.34
63.05
Total Debt/Equity
0.21
0.33
0.45
0.45
0.50
0.51
0.49
0.48
0.54
0.49
Interest Cover
15.92
11.62
13.19
13.09
9.75
7.10
9.06
11.38
11.10
13.93

Annual Reports:

FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
FY 2016

News Update:


  • Solar Industries - Quarterly Results
    4th Feb 2026, 00:00 AM

    Read More
  • Solar Industries along with arm bags orders worth Rs 589 crore
    31st Jan 2026, 10:32 AM

    The order is to be executed over a period of 4 years

    Read More
  • Solar Industries along with arm secures export orders worth Rs 830 crore
    30th Jan 2026, 14:30 PM

    The said orders are to be delivered over a period of 4 years

    Read More
  • Solar Industries bags additional order worth Rs 1,746 crore
    31st Dec 2025, 14:51 PM

    The order is for the supply of bulk explosives to the subsidiaries of Coal India, to be delivered over a period of 2 years

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  • Solar Industries bags order worth Rs 1400 crore along with subsidiary
    18th Nov 2025, 14:51 PM

    The order is to be delivered over a period of 4 years

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