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Solar Industries India Limited SOLARINDS NSEINFRA

Basic Materials · Specialty Chemicals · India
https://solargroup.com
Company Profile ↓
₹21,445.00
+47.05% 1Y
Mkt Cap₹1.94 L Cr
P/E115.68
P/B26.89
Div. Yield0.06%
52W High₹21,500.00
52W Low₹11,765.05
Book Value₹693.69
EPS (TTM)₹185.39

Company Overview

Solar Industries India Limited, together with its subsidiaries, manufactures and sells industrial explosives, explosive initiating devices, and high energy materials for mining and defense applications in India and internationally. The company offers industrial explosives comprising bulk, packaged, non-permitted, permitted, and seismic explosives; initiating systems; electronic, non-electric, and plain detonators; cord relays; cast boosters; detonating cords; and aluminum elemented det products. It also provides defense products consisting of high energy materials, such as HMX, RDX, TNT, and their compounds; composite, single base, double base, and triple base propellants; complete integration of rockets; ammunitions, including multi-mode hand grenades, mines, bombs, warheads, and bund blasting devices; drones and UAVs; pyros and ignitors; propellants for space applications; missiles; and unmanned systems and advanced defense technologies. The company serves the Coal India Limited (CIL), non-CIL and institutional, housing and infrastructure, and defense industries. It exports its products to approximately 90 countries. The company was formerly known as Solar Explosives Limited and changed its name to Solar Industries India Limited in February 2009. Solar Industries India Limited was incorporated in 1995 and is based in Nagpur, India.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 26.7%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 29.5%.

Consistent Profit Growth

Net profit has compounded at 30.4% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 12.4% CAGR over the past five years.

Healthy Margins

Maintains a net profit margin of 17.4%.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.29.

Recent Developments

  • Mar 2026 Revenue of ₹9,611.87 Cr (+30.6% YoY); net profit ₹1,677.55 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +30.6%, earnings +38.7%.
  • 5-Year Trend Long-term compounding — revenue CAGR 12.4%, profit CAGR 30.4%.

Growth & Price Performance

Compounded Sales Growth

5 Years:12.39%
1 Year:30.59%

Compounded Profit Growth

5 Years:30.36%
1 Year:38.70%

Stock Price Performance

1 Year:+47.05%
6 Months:+41.62%
3 Months:+17.47%
1 Month:+15.94%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bullish
52-Week Range 99% of range
₹11,765.05 ₹21,500.00
Trend Signals
  • Price vs 50-DMAAbove
  • Price vs 200-DMAAbove
  • RSI (14)71.15 · Overbought
Price Performance
1M+15.94%
3M+17.47%
6M+41.62%
1Y+47.05%
Valuation vs Sector

P/E of 115.68 is above the sector median of 27.43 — pricier than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Strong return on equity of 26.7%.
  • Healthy ROCE of 29.5%.
  • Compounding revenue at 12.4% over 5 years.
  • Profit CAGR of 30.4% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 115.7.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
115.68
Industry PE
27.43
Forward P/E
64.35
PEG Ratio
-
Book Value
₹693.69
Price to Book
26.89
P/S
17.15
EV/EBITDA
65.07
Dividend Yield
0.06%

Growth (CAGR)

Revenue 5Y
12.39%
Profit 5Y
30.36%
Revenue (YoY)
30.59%
Earnings (YoY)
38.70%

Profitability & Returns

ROCE
29.51%
ROE
26.72%
ROA
15.36%
Profit Margin
17.45%
Op Margin
24.93%
Gross Margin
48.39%
EPS (Latest Qtr)
₹60.52
EPS (TTM)
₹185.39

Balance Sheet & Liquidity

Debt/Equity
0.29
Quick Ratio
1.35
Current Ratio
2.06
Debt
₹1,809.25 Cr
Total Assets
₹10,918.50 Cr
Current Assets
₹5,037.46 Cr
Working Capital
₹2,588.57 Cr

Ownership

Promoter Holding
43.92%
Chg in Prom Hold
-29.23%
FII / Inst Holding
45.07%
Chg in FII Hold
-0.10%

Financial Snapshot

Enterprise Value
₹1.94 L Cr
Total Revenue (TTM)
₹9,611.87 Cr
EBITDA
₹2,750.06 Cr
Free Cash Flow
₹-1,118.25 Cr
Operating Cash Flow
₹620.87 Cr
Shares Outstanding
₹9.05 Cr
Gross Margin
48.39%
Payout Ratio
5.39%

Peer comparison

Peer companies in the same sector (Basic Materials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 SOLARINDS Solar Industries India Limited NSEINFRA 21,445.00 115.68 ₹1.94 L Cr 0.06% 29.51% 26.72% 12.39% 30.36%
2 ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA 11,408.00 41.12 ₹3.36 L Cr 1.99% 11.84% 10.66% 11.92% 17.26%
3 JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA 1,325.00 14.52 ₹3.24 L Cr 0.54% 18.75% 22.30% 3.61% 75.28%
4 HINDZINC Hindustan Zinc Limited NSEINFRA 601.00 18.36 ₹2.54 L Cr 3.56% 61.97% 61.13% 5.61% 9.58%
5 ASIANPAINT Asian Paints Limited NIFTY50NSEINFRA 2,527.30 56.03 ₹2.42 L Cr 1.00% 24.41% 20.24% 1.10% 1.75%
6 TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA 188.79 21.83 ₹2.36 L Cr 2.11% 11.32% 10.56% -1.59% 7.21%
7 HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA 1,011.00 16.79 ₹2.27 L Cr 0.49% 9.42% 9.80% 7.10% 9.87%
8 GRASIM Grasim Industries Limited NIFTY50NSEINFRA 3,322.00 59.86 ₹2.26 L Cr 0.31% 3.98% 4.80% 14.30% -10.06%
9 VAML Vedanta Aluminium Metal Limited NSEINFRA 437.75 - ₹1.71 L Cr 3.33% 41.97% 49.39% - -46.32%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 1,929.00 Cr1,682.00 Cr1,347.00 Cr1,429.00 Cr1,611.00 Cr1,685.00 Cr1,716.00 Cr1,973.00 Cr2,166.55 Cr2,154.45 Cr2,082.22 Cr2,548.32 Cr3,052.75 Cr
Cost of Revenue --------1,177.94 Cr1,094.40 Cr987.86 Cr1,241.32 Cr1,521.54 Cr
Gross Profit --------988.61 Cr1,060.05 Cr1,094.36 Cr1,307.00 Cr1,531.21 Cr
Operating Expenses 1,571.00 Cr1,359.00 Cr1,012.00 Cr1,074.00 Cr1,257.00 Cr1,235.00 Cr1,271.00 Cr1,447.00 Cr499.43 Cr581.18 Cr602.19 Cr661.65 Cr776.66 Cr
Operating Income 322.00 Cr289.00 Cr301.00 Cr316.00 Cr317.00 Cr409.00 Cr401.00 Cr480.00 Cr489.18 Cr478.87 Cr492.17 Cr645.35 Cr754.55 Cr
EBITDA 357.00 Cr323.00 Cr335.00 Cr355.00 Cr354.00 Cr449.00 Cr445.00 Cr527.00 Cr543.64 Cr564.17 Cr581.03 Cr733.14 Cr871.72 Cr
Interest Expense 31.00 Cr25.00 Cr25.00 Cr28.00 Cr32.00 Cr27.00 Cr30.00 Cr31.00 Cr28.78 Cr27.43 Cr30.89 Cr34.38 Cr41.27 Cr
Pretax Income 302.00 Cr272.00 Cr285.00 Cr299.00 Cr305.00 Cr408.00 Cr407.00 Cr459.00 Cr464.37 Cr480.76 Cr489.52 Cr635.91 Cr759.03 Cr
Tax Provision 81.54 Cr70.72 Cr76.95 Cr77.74 Cr64.05 Cr106.08 Cr101.75 Cr119.34 Cr118.26 Cr128.14 Cr128.07 Cr169.37 Cr203.00 Cr
Net Income 221.00 Cr202.00 Cr209.00 Cr222.00 Cr243.00 Cr301.00 Cr304.00 Cr338.00 Cr322.23 Cr338.70 Cr344.97 Cr446.25 Cr547.63 Cr
Diluted EPS 22.7821.8222.1222.4725.9831.6631.5934.8035.6137.4338.1249.3160.52

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 1,276.00 Cr1,449.00 Cr1,580.00 Cr1,916.00 Cr2,462.00 Cr2,237.00 Cr2,516.00 Cr-6,769.72 Cr5,909.02 Cr7,360.06 Cr9,611.87 Cr
Cost of Revenue --------4,367.13 Cr3,230.68 Cr4,024.27 Cr4,960.31 Cr
Gross Profit --------2,402.59 Cr2,678.34 Cr3,335.79 Cr4,651.56 Cr
Operating Expenses 1,022.00 Cr1,144.00 Cr1,256.00 Cr1,505.00 Cr1,960.00 Cr1,803.00 Cr2,001.00 Cr-1,057.06 Cr1,255.14 Cr1,558.86 Cr2,255.08 Cr
Operating Income 223.00 Cr271.00 Cr285.00 Cr361.00 Cr443.00 Cr349.00 Cr421.00 Cr-1,345.53 Cr1,423.20 Cr1,776.93 Cr2,396.48 Cr
EBITDA 254.00 Cr304.00 Cr324.00 Cr412.00 Cr502.00 Cr434.00 Cr515.00 Cr-1,320.17 Cr1,414.03 Cr2,036.74 Cr2,750.06 Cr
Interest Expense 18.00 Cr20.00 Cr27.00 Cr33.00 Cr50.00 Cr55.00 Cr45.00 Cr-90.38 Cr109.37 Cr116.50 Cr133.97 Cr
Pretax Income 203.00 Cr264.00 Cr271.00 Cr340.00 Cr402.00 Cr336.00 Cr397.00 Cr-1,101.58 Cr1,161.28 Cr1,738.74 Cr2,365.22 Cr
Tax Provision 46.69 Cr87.12 Cr75.88 Cr105.40 Cr124.62 Cr57.12 Cr107.19 Cr-290.41 Cr286.05 Cr450.81 Cr628.58 Cr
Net Income 156.00 Cr178.00 Cr195.00 Cr234.00 Cr277.00 Cr279.00 Cr288.00 Cr-757.19 Cr835.93 Cr1,209.44 Cr1,677.55 Cr
Diluted EPS 16.2918.0820.6124.3728.9129.5530.54-83.6892.38133.65185.39

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 1,389.00 Cr1,512.00 Cr1,722.00 Cr1,988.00 Cr2,253.00 Cr2,481.00 Cr2,959.00 Cr-5,036.25 Cr5,737.20 Cr8,298.08 Cr10,918.50 Cr
Current Assets --------2,501.35 Cr2,648.38 Cr4,122.53 Cr5,037.46 Cr
Cash & Equivalents --------245.04 Cr258.98 Cr590.43 Cr469.44 Cr
Inventory --------1,097.99 Cr846.82 Cr1,039.98 Cr1,741.86 Cr
Receivables --------825.28 Cr844.85 Cr1,238.58 Cr1,857.86 Cr
Total Liabilities --------2,285.55 Cr2,309.95 Cr3,724.70 Cr4,369.60 Cr
Current Liabilities --------1,632.32 Cr1,501.42 Cr2,113.88 Cr2,448.89 Cr
Long Term Debt --------472.71 Cr583.55 Cr393.88 Cr820.36 Cr
Total Debt 371.00 Cr398.00 Cr501.00 Cr518.00 Cr603.00 Cr708.00 Cr808.00 Cr-1,194.69 Cr1,367.55 Cr1,369.56 Cr1,809.25 Cr
Total Equity 776.00 Cr805.00 Cr928.00 Cr1,084.00 Cr1,238.00 Cr1,380.00 Cr1,579.00 Cr-2,610.34 Cr3,305.60 Cr4,413.22 Cr6,277.20 Cr
Shares Outstanding --------9.05 Cr9.05 Cr9.05 Cr9.05 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 230.00 Cr243.00 Cr118.00 Cr254.00 Cr314.00 Cr325.00 Cr357.00 Cr298.00 Cr656.48 Cr1,406.01 Cr2,467.56 Cr620.87 Cr
Investing Cash Flow -149.00 Cr-141.00 Cr-170.00 Cr-174.00 Cr-254.00 Cr-260.00 Cr-253.00 Cr-338.00 Cr-518.97 Cr-727.34 Cr-1,593.21 Cr-1,163.83 Cr
Financing Cash Flow -177.00 Cr-92.00 Cr53.00 Cr-53.00 Cr-52.00 Cr-34.00 Cr-26.00 Cr-45.00 Cr118.16 Cr-370.28 Cr-476.36 Cr209.46 Cr
Capital Expenditure -112.00 Cr-140.00 Cr-174.00 Cr-223.00 Cr-250.00 Cr-238.00 Cr-261.00 Cr-281.00 Cr-479.11 Cr-559.75 Cr-1,005.95 Cr-1,739.12 Cr
Free Cash Flow 118.00 Cr103.00 Cr-56.00 Cr31.00 Cr64.00 Cr87.00 Cr96.00 Cr17.00 Cr177.37 Cr846.26 Cr1,461.61 Cr-1,118.25 Cr
Net Change in Cash -96.00 Cr11.00 Cr027.00 Cr9.00 Cr32.00 Cr77.00 Cr-85.00 Cr255.67 Cr308.39 Cr397.99 Cr-333.50 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------35.5%45.3%45.3%48.4%
Operating Margin % 17.5%18.7%18.0%18.8%18.0%15.6%16.7%-19.9%24.1%24.1%24.9%
Net Margin % 12.2%12.3%12.3%12.2%11.3%12.5%11.4%-11.2%14.1%16.4%17.5%
ROE % 20.1%22.1%21.0%21.6%22.4%20.2%18.2%-29.0%25.3%27.4%26.7%
ROCE % --------39.5%33.6%28.7%28.3%

Shareholding Pattern

Insiders
43.92%
Institutions
45.07%
Public Float
80.36%

Analyst View

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Latest News

Recent headlines for SOLARINDS

Google News hu, 25 Jun 2026

SOLARINDS Forecast — Price Target — Prediction for 2027 - TradingView

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Google News Sun, 16 Aug 2026

Solar Industries India Limited Just Beat Revenue By 26%: Here's What Analysts Think Will Happen Next - simplywall.st

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Google News Mon, 07 Sep 2026

Solar Industries India Ltd. 52 Week High Streak Analysis - Univest

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Google News ue, 25 Aug 2026

Solar (SOLARINDS.NS) Momentum: Retreats 0.63% to ₹19,800.00 on the Day; Next Test: the Session Ends Within the Reported Technical Boundaries for the Current Session - Narrow Range Breakout - siam.in

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Google News Mon, 18 May 2026

Party Time: Brokers Just Made Major Increases To Their Solar Industries India Limited (NSE:SOLARINDS) Earnings Forecasts - simplywall.st

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Google News ue, 23 Jun 2026

Solar Industries (SOLARINDS.NS) Edges Lower Amid Profit Booking; Key Support at ₹17,315 in Focus - Charm Flow - vinanet.vn

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SOLARINDS — Frequently Asked Questions

What is the current share price of Solar Industries India Limited (SOLARINDS)?

As of 2026-09-08 04:53 IST, Solar Industries India Limited (SOLARINDS) trades at ₹21,445.00 on NSE. Its 52-week range is ₹11,765.05 to ₹21,500.00.

What is the market capitalisation of SOLARINDS?

Solar Industries India Limited (SOLARINDS) has a market capitalisation of ₹1.94 L Cr on NSE.

What is the P/E ratio of SOLARINDS?

SOLARINDS trades at a trailing price-to-earnings (P/E) ratio of 115.68. The industry average P/E is 27.43. Its price-to-book (P/B) ratio is 26.89.

Does SOLARINDS pay a dividend?

Solar Industries India Limited (SOLARINDS) currently offers a dividend yield of 0.06%.

What is the return on equity (ROE) of SOLARINDS?

SOLARINDS has a return on equity (ROE) of 26.72%. Its return on capital employed (ROCE) is 29.51%.

Is SOLARINDS a good stock to buy?

This page provides a data-driven analysis of Solar Industries India Limited (SOLARINDS), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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