Nifty
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Sensex
:
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370.05 (1.58%)
1225.07 (1.62%)
Nifty
Sensex
:
:
23810.85
76917.85
370.05 (1.58%)
1225.07 (1.62%)

Solar Industries India Ltd.

Explosives

Rating :
82/99

BSE: 532725 | NSE: SOLARINDS

NSE BSE
19654.00
03-Nov-2026
  • Open
  • High
  • Low
  • Previous Close
  •  19438
  •  20880
  •  19438
  •  19438.00
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  524521
  •  10572512118
  •  22700
  •  11646

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 1,77,542.39
  • 78.44
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 1,78,719.25
  • 0.06%
  • 25.60

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 73.15%
  • 1.27%
  • 5.29%
  • FII
  • DII
  • Others
  • 6.13%
  • 12.61%
  • 1.55%

Chart

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

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 20.07
  • 20.04
  • 17.47

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 23.26
  • 28.98
  • 13.87

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 24.56
  • 30.61
  • 26.13

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 58.78
  • 81.66
  • 95.90

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 16.10
  • 20.99
  • 25.42

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 38.23
  • 47.66
  • 57.11

Earnings Forecasts:

(Updated: 31-10-2026)
Description
2026
2027
2028
2029
Adj EPS
185.39
266.38
336.67
418.4
P/E Ratio
106.01
73.78
58.38
46.97
Revenue
9837.74
14180.3
19772
24277.8
EBITDA
2621.81
3888.21
5064.92
5912.45
Net Income
1677.55
2535.57
3230.45
3569.87
ROA
17.49
25.96
24.13
44.81
P/B Ratio
28.33
20.40
14.70
10.97
ROE
31.46
32.7
30.32
28.42
FCFF
-1244.92
458.05
-128.42
1957.96
FCFF Yield
-0.72
0.26
-0.07
1.13
Net Debt
939.88
615.91
1541.29
922.4
BVPS
693.69
963.49
1337.25
1791.73

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Sep 26
Sep 25
Var%
Jun 26
Jun 25
Var%
Mar 26
Mar 25
Var%
Dec 25
Dec 24
Var%
Net Sales
3,518.92
2,082.22
69.00%
3,668.20
2,154.45
70.26%
3,052.75
2,166.55
40.90%
2,548.32
1,973.08
29.15%
Expenses
2,513.14
1,529.43
64.32%
2,653.01
1,619.60
63.81%
2,226.78
1,626.88
36.87%
1,840.12
1,446.54
27.21%
EBITDA
1,005.78
552.79
81.95%
1,015.19
534.85
89.81%
825.97
539.67
53.05%
708.20
526.54
34.50%
EBIDTM
28.58%
26.55%
27.68%
24.83%
27.06%
24.91%
27.79%
26.69%
Other Income
15.37
29.18
-47.33%
8.52
29.26
-70.88%
44.47
6.55
578.93%
25.07
9.54
162.79%
Interest
55.36
30.89
79.22%
41.26
27.43
50.42%
41.27
28.78
43.40%
34.38
30.51
12.68%
Depreciation
87.95
60.62
45.08%
79.74
55.98
42.44%
71.42
50.49
41.45%
62.85
47.42
32.54%
PBT
877.84
490.46
78.98%
902.71
480.70
87.79%
757.75
466.95
62.28%
636.04
458.15
38.83%
Tax
227.45
128.07
77.60%
245.09
128.14
91.27%
203.00
118.26
71.66%
169.37
121.61
39.27%
PAT
650.39
362.39
79.47%
657.62
352.56
86.53%
554.75
348.69
59.10%
466.67
336.54
38.67%
PATM
18.48%
17.40%
17.93%
16.36%
18.17%
16.09%
18.31%
17.06%
EPS
68.18
38.12
78.86%
72.11
37.43
92.65%
60.51
35.61
69.92%
49.31
34.79
41.74%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Net Sales
12,788.19
9,837.74
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
Net Sales Growth
52.67%
30.47%
24.23%
-12.32%
75.36%
56.92%
12.44%
-9.11%
28.47%
21.27%
 
Cost Of Goods Sold
6,296.20
4,893.72
3,978.99
3,196.17
4,342.37
2,327.33
1,346.77
1,215.00
1,400.94
1,063.58
907.22
Gross Profit
6,491.99
4,944.02
3,561.27
2,873.35
2,580.16
1,620.28
1,168.86
1,022.30
1,060.63
852.54
672.77
GP Margin
50.77%
50.26%
47.23%
47.34%
37.27%
41.04%
46.46%
45.69%
43.09%
44.49%
42.58%
Total Expenditure
9,233.05
7,215.93
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
Power & Fuel Cost
-
122.51
81.90
60.09
61.64
42.59
32.12
30.64
28.90
20.76
18.59
% Of Sales
-
1.25%
1.09%
0.99%
0.89%
1.08%
1.28%
1.37%
1.17%
1.08%
1.18%
Employee Cost
-
765.64
547.02
400.45
330.60
267.47
221.97
195.95
174.06
133.48
104.31
% Of Sales
-
7.78%
7.25%
6.60%
4.78%
6.78%
8.82%
8.76%
7.07%
6.97%
6.60%
Manufacturing Exp.
-
271.12
197.65
151.68
133.00
106.71
76.56
81.44
75.31
99.34
64.93
% Of Sales
-
2.76%
2.62%
2.50%
1.92%
2.70%
3.04%
3.64%
3.06%
5.18%
4.11%
General & Admin Exp.
-
313.52
210.51
145.10
109.39
105.77
70.62
65.55
59.96
60.89
45.83
% Of Sales
-
3.19%
2.79%
2.39%
1.58%
2.68%
2.81%
2.93%
2.44%
3.18%
2.90%
Selling & Distn. Exp.
-
630.26
424.67
363.97
367.51
225.22
155.78
139.35
137.65
70.25
44.57
% Of Sales
-
6.41%
5.63%
6.00%
5.31%
5.71%
6.19%
6.23%
5.59%
3.67%
2.82%
Miscellaneous Exp.
-
219.16
157.39
382.85
289.10
137.96
97.21
75.05
82.81
67.00
44.57
% Of Sales
-
2.23%
2.09%
6.31%
4.18%
3.49%
3.86%
3.35%
3.36%
3.50%
4.47%
EBITDA
3,555.14
2,621.81
1,942.13
1,369.21
1,288.92
734.56
514.60
434.32
501.94
400.82
323.89
EBITDA Margin
27.80%
26.65%
25.76%
22.56%
18.62%
18.61%
20.46%
19.41%
20.39%
20.92%
20.50%
Other Income
93.43
127.98
89.06
44.47
31.52
32.36
21.42
41.05
14.72
22.83
13.21
Interest
172.27
133.97
116.50
109.37
90.38
50.25
45.39
55.04
49.87
32.72
26.89
Depreciation
301.96
250.87
181.50
143.38
128.21
109.25
93.53
84.53
58.89
51.29
38.74
PBT
3,174.34
2,364.95
1,733.19
1,160.93
1,101.85
607.42
397.10
335.80
407.90
339.64
271.47
Tax
844.91
628.58
450.81
286.05
290.41
151.95
109.03
57.13
125.05
106.05
76.74
Tax Rate
26.62%
26.58%
26.01%
24.64%
26.36%
25.02%
27.46%
17.01%
31.12%
31.22%
28.27%
PAT
2,329.43
1,677.55
1,209.44
835.93
757.19
441.28
276.35
267.43
261.61
220.55
186.54
PAT before Minority Interest
2,253.90
1,736.64
1,287.93
875.23
811.17
455.47
288.07
278.67
276.80
233.59
194.73
Minority Interest
-75.53
-59.09
-78.49
-39.30
-53.98
-14.19
-11.72
-11.24
-15.19
-13.04
-8.19
PAT Margin
18.22%
17.05%
16.04%
13.77%
10.94%
11.18%
10.99%
11.95%
10.63%
11.51%
11.81%
PAT Growth
66.37%
38.70%
44.68%
10.40%
71.59%
59.68%
3.34%
2.22%
18.62%
18.23%
 
EPS
257.40
185.36
133.64
92.37
83.67
48.76
30.54
29.55
28.91
24.37
20.61

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Shareholder's Funds
6,277.20
4,413.22
3,305.60
2,610.34
1,914.28
1,579.41
1,380.09
1,238.33
1,083.86
928.59
Share Capital
18.10
18.10
18.10
18.10
18.10
18.10
18.10
18.10
18.10
18.10
Total Reserves
6,259.10
4,395.12
3,287.50
2,592.24
1,896.18
1,561.31
1,361.99
1,220.23
1,065.76
910.49
Non-Current Liabilities
1,734.92
1,455.04
648.37
525.72
496.63
497.89
317.04
242.60
290.75
226.40
Secured Loans
791.64
320.98
472.72
390.99
397.76
401.18
219.06
115.17
162.71
147.34
Unsecured Loans
28.72
72.90
110.83
81.72
38.10
32.03
33.74
36.39
33.39
0.62
Long Term Provisions
2.85
5.32
3.44
2.64
1.00
0.91
1.92
0.15
0.18
0.00
Current Liabilities
2,448.89
2,113.88
1,501.42
1,632.32
1,117.88
819.43
732.15
724.47
565.98
526.50
Trade Payables
916.97
887.13
552.65
488.48
464.94
286.08
154.43
163.30
143.33
89.32
Other Current Liabilities
1,189.47
931.12
715.72
733.83
382.50
310.70
208.67
234.60
175.08
172.04
Short Term Borrowings
281.09
218.77
198.88
333.01
237.07
193.98
357.27
314.27
229.28
260.99
Short Term Provisions
61.36
76.86
34.17
77.00
33.37
28.67
11.78
12.30
18.29
4.15
Total Liabilities
10,732.71
8,142.30
5,577.04
4,908.74
3,629.42
2,959.42
2,480.79
2,252.95
1,987.97
1,721.75
Net Block
4,006.23
2,728.77
2,027.72
1,701.83
1,492.73
1,287.53
1,208.55
1,042.88
923.28
776.77
Gross Block
5,022.64
3,503.83
2,614.55
2,210.20
1,923.56
1,622.57
1,455.90
1,213.56
1,037.78
839.76
Accumulated Depreciation
1,016.41
775.06
586.83
508.37
430.83
335.04
247.35
170.68
114.50
62.99
Non Current Assets
5,695.25
4,015.79
2,928.66
2,407.39
1,965.56
1,733.76
1,497.29
1,290.45
1,169.29
989.82
Capital Work in Progress
730.83
706.98
489.79
282.03
230.37
292.88
164.97
177.56
107.40
90.93
Non Current Investment
182.69
147.30
156.47
78.51
18.22
0.97
2.33
2.56
3.04
3.50
Long Term Loans & Adv.
748.93
429.79
254.52
345.02
220.21
149.64
119.80
65.51
134.62
116.83
Other Non Current Assets
26.57
2.95
0.16
0.00
4.03
2.74
1.64
1.94
0.95
1.79
Current Assets
5,037.46
4,122.53
2,648.38
2,501.35
1,660.95
1,225.66
983.50
961.97
817.08
731.93
Current Investments
0.00
528.97
213.44
20.00
0.00
0.00
0.02
30.08
14.01
49.75
Inventories
1,741.86
1,039.98
846.82
1,097.99
718.87
440.49
330.98
282.74
232.42
181.07
Sundry Debtors
1,857.86
1,238.58
844.85
825.28
541.10
455.48
370.32
399.04
363.58
319.06
Cash & Bank
584.14
725.48
287.26
260.09
98.75
181.20
120.14
91.76
69.46
39.39
Other Current Assets
853.60
120.19
69.05
31.33
302.23
148.49
162.04
158.35
137.61
142.66
Short Term Loans & Adv.
701.06
469.33
386.96
266.66
266.99
123.00
149.99
149.98
119.88
124.60
Net Current Assets
2,588.57
2,008.65
1,146.96
869.03
543.07
406.23
251.35
237.50
251.10
205.43
Total Assets
10,732.71
8,138.32
5,577.04
4,908.74
3,626.51
2,959.42
2,480.79
2,252.42
1,986.37
1,721.75

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Cash From Operating Activity
620.87
2,467.56
1,406.01
656.48
297.80
356.68
324.81
313.75
254.10
117.62
PBT
2,364.95
1,733.19
1,160.93
1,101.85
607.42
397.10
335.80
401.85
339.64
271.47
Adjustment
495.64
323.05
364.21
335.76
162.27
168.94
130.31
142.72
104.26
16.94
Changes in Working Capital
-1,577.27
814.38
180.42
-526.72
-312.29
-105.27
-33.35
-101.40
-100.35
-111.76
Cash after chg. in Working capital
1,283.32
2,870.62
1,705.56
910.89
457.40
460.77
432.76
443.17
343.55
176.65
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
-662.45
-403.06
-299.55
-254.41
-159.60
-104.09
-107.95
-129.42
-89.45
-59.03
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
-1,163.83
-1,593.21
-727.34
-518.97
-303.05
-250.74
-212.24
-202.26
-174.33
-170.40
Net Fixed Assets
-366.55
-295.00
-225.76
-160.71
-102.64
-146.32
-66.41
-116.63
-61.47
13.94
Net Investments
-8.01
-191.63
-440.92
-80.62
-17.26
1.34
-37.69
-26.66
36.98
-36.15
Others
-789.27
-1,106.58
-60.66
-277.64
-183.15
-105.76
-108.14
-58.97
-149.84
-148.19
Cash from Financing Activity
209.46
-476.36
-370.28
118.16
-45.40
-26.07
-33.62
-51.74
-53.21
53.27
Net Cash Inflow / Outflow
-333.50
397.99
308.39
255.67
-50.65
79.87
78.95
59.75
26.56
0.49
Opening Cash & Equivalents
590.43
258.98
245.04
84.67
169.93
92.56
61.00
52.49
25.93
25.44
Closing Cash & Equivalent
469.44
590.43
258.98
245.04
84.67
169.93
92.56
61.00
52.49
25.93

Financial Ratios

Consolidated /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Book Value (Rs.)
693.61
487.65
365.26
288.44
211.52
174.52
152.50
136.83
119.76
102.61
ROA
18.40%
18.78%
16.69%
19.00%
13.83%
10.59%
11.77%
13.05%
12.59%
12.04%
ROE
32.49%
33.37%
29.59%
35.86%
26.07%
19.47%
21.29%
23.84%
23.21%
22.46%
ROCE
38.16%
38.00%
31.03%
36.34%
25.56%
19.87%
19.89%
26.24%
24.57%
22.67%
Fixed Asset Turnover
2.31
2.46
2.52
3.35
2.25
1.66
1.68
2.19
2.08
2.01
Receivable days
57.44
50.43
50.22
36.02
45.64
59.10
62.76
56.54
63.84
62.93
Inventory Days
51.61
45.67
58.48
47.90
53.10
55.21
50.06
38.19
38.67
36.36
Payable days
41.93
37.40
37.92
25.49
38.93
51.02
31.41
29.72
28.88
29.94
Cash Conversion Cycle
67.12
58.69
70.78
58.43
59.82
63.30
81.41
65.01
73.63
69.34
Total Debt/Equity
0.23
0.21
0.33
0.45
0.45
0.50
0.51
0.49
0.48
0.54
Interest Cover
18.65
15.92
11.62
13.19
13.09
9.75
7.10
9.06
11.38
11.10

Annual Reports:

FY 2026
FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017

News Update:


  • Solar Industries India reports 79% jump in Q2 consolidated net profit
    3rd Nov 2026, 16:30 PM

    The total consolidated income of the company has increased by 67.39% at Rs 3,534.29 crore for Q2FY27

    Read More
  • Solar Industries India’s arm to acquire 100% stake in Sivasakthi
    16th Oct 2026, 11:19 AM

    The transaction is expected to be completed within a period of 12 months.

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  • Solar Industries India’s arm to acquire Omnia Holdings for Rs 12,951 crore
    15th Sep 2026, 11:19 AM

    Solar SA and Omnia Holdings have inked definitive agreements for the acquisition

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  • Solar Industries Ind - Quarterly Results
    14th Aug 2026, 00:00 AM

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