Solar Industries
Market cap ₹1.69 L Cr
- P/E
- 84.90
- Day range
- ₹18,117.00 – ₹18,770.00
- 52-week range
- ₹11,646.00 – ₹22,700.00
- Volume
- 1.42 L
- Open
- ₹18,401.00
- Prev close
- ₹18,365.00
Latest results · Q1 FY27(consolidated)Revenue ₹3,668 Cr+70.3%Profit ₹666 Cr+89.0%Margin 18.2%YoY vs the same quarter last year
1 red flag to read up on
- medium
Promoter pledge went up
2.95% of promoter shares pledged, up from 2.27% · 30 Sept 2026
From NSE and BSE filings. A flag is a reason to read the filing, not a rating.
SOLARINDS in NSE indices and F&O
F&O margin for one lot of SOLARINDS (50 shares)Research profile
Composite 61 / 100Factor percentiles
Derived metrics
- Earn. yield
- 1.2%
- Graham no.
- ₹1,870.30
- vs Graham
- -90.0%
- ROE ÷ P/B
- 1.2%
- 12-1 mom.
- +42.3%
- Return / vol
- 0.88
- Magic Formula
- #308
- FCF yield
- -0.7%
Appears in 12 scans
Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.
Peer comparison
All 44 in Chemicals| Company | M-cap | P/E | P/B | ROE | ROCE | OPM | D/E | Sales YoY |
|---|---|---|---|---|---|---|---|---|
| Solar IndustriesSOLARINDS | ₹1.69 L Cr | 84.90 | 26.46 | 32.5% | 38.0% | 28.0% | 0.24 | +70.3% |
| Pidilite IndustriesPIDILITIND | ₹1.51 L Cr | 56.89 | 14.04 | 24.0% | 31.0% | 26.0% | 0.04 | +21.3% |
| SRF LtdSRF | ₹69,359 Cr | 30.39 | 4.48 | 13.8% | 15.0% | 19.0% | 0.35 | +34.7% |
| Coromandel InternationalCOROMANDEL | ₹50,979 Cr | 27.86 | 4.03 | 16.1% | 22.0% | 9.0% | 0.12 | +15.9% |
| Linde IndiaLINDEINDIA | ₹48,036 Cr | 87.93 | 11.45 | 13.6% | 18.0% | 29.0% | 0.02 | +21.5% |
| Gujarat FluorochemicalsFLUOROCHEM | ₹46,105 Cr | 75.37 | 5.92 | 7.6% | 10.0% | 27.0% | 0.35 | +24.0% |
| Fertilisers and Chemicals TravancoreFACT | ₹43,655 Cr | — | 31.65 | 3.0% | 9.0% | -2.7% | 2.79 | +65.2% |
| UPLUPL | ₹42,070 Cr | 20.63 | 1.24 | 6.9% | 10.0% | 13.0% | 0.68 | +10.5% |
| Sector median | ₹12,956 Cr | 30.77 | 3.06 | 9.9% | 12.0% | 18.5% | 0.25 | +21.4% |
Sector as classified in the tracked universe; medians use every tracked Chemicals company, and P/E only profitable ones. Tinted figures beat the median.
Latest news
Updated 21 Sept 2026Headlines about Solar Industries from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.
Key metrics
- P/E (TTM)
- 84.9
- EPS (TTM)
- ₹220.05
- Price / Book
- 26.92
- ROE (FY26)
- 32.5%
- ROCE (latest year)
- 38%
- Dividend yield
- 0.06%
Moving averages (NSE)
- 20-day
- ₹19,628.05
- Price below
- 50-day
- ₹20,031.7
- Price below
- 200-day
- ₹16,738.58
- Price above
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
₹ crore; a loss shows red. Operating margin below, same periods.
- Revenue
- Net profit
Operating margin
Who owns the company
% of equity by quarter, latest Sept 2026
- Promoter
- DII
- Public
- FII
Cash flows
Where cash came from and went, by fiscal year (₹ crore)
- Operating
- Investing
- Financing
- Free cash flow
Return on equity
Net profit over shareholders' equity, by fiscal year
Equity vs debt
Shareholders' equity against borrowings (₹ crore); the ratio below, same years.
- Equity
- Debt
Debt to equity
Dividends per share
₹ by fiscal year of the ex-date; the latest year runs to date.
Financial statements
| Line item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,347 | 1,429 | 1,611 | 1,685 | 1,716 | 1,973 | 2,167 | 2,154 | 2,082 | 2,548 | 3,053 | 3,668 |
| Expenses | 1,012 | 1,074 | 1,257 | 1,235 | 1,271 | 1,447 | 1,629 | 1,620 | 1,530 | 1,840 | 2,227 | 2,653 |
| Operating Profit | 335 | 355 | 354 | 449 | 445 | 527 | 537 | 535 | 552 | 708 | 826 | 1,015 |
| OPM % | 25% | 25% | 22% | 27% | 26% | 27% | 25% | 25% | 26% | 28% | 27% | 28% |
| Other Income | 8 | 11 | 20 | 26 | 36 | 10 | 7 | 29 | 29 | 25 | 46 | 17 |
| Interest | 25 | 28 | 32 | 27 | 30 | 31 | 29 | 27 | 31 | 34 | 41 | 41 |
| Depreciation | 34 | 39 | 37 | 40 | 44 | 47 | 50 | 56 | 61 | 63 | 71 | 80 |
| Profit before tax | 285 | 299 | 305 | 408 | 407 | 459 | 464 | 481 | 490 | 636 | 759 | 911 |
| Tax % | 27% | 26% | 21% | 26% | 25% | 26% | 25% | 27% | 26% | 27% | 27% | 27% |
| Net Profit | 209 | 222 | 243 | 301 | 304 | 338 | 346 | 353 | 361 | 467 | 556 | 666 |
| EPS in Rs | ₹22.12 | ₹22.47 | ₹25.98 | ₹31.66 | ₹31.59 | ₹34.80 | ₹35.61 | ₹37.43 | ₹38.12 | ₹49.31 | ₹60.52 | ₹72.11 |
From company filings, updated 27 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.
Working-capital cycle
+3 days since Mar 2021
+11 days since Mar 2021
-31 days since Mar 2021
+44 days since Mar 2021
+41 days since Mar 2021
Strengths, risks & growth
Solar Industries is one of the largest domestic manufacturers of bulk and cartridge explosives, detonators, detonating cords and components which find applications in the mining, infrastructure and construction industries. Company manufactures high-energy explosives, delivery systems, ammunition filling and pyros fuses for the defence sector. [1]
Strengths
- Company is expected to give good quarter
- Company has delivered good profit growth of 44.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.2%
- Company's median sales growth is 22.8% of last 10 years
Risks
- Stock is trading at 26.9 times its book value
- Working capital days have increased from 49.9 days to 74.4 days
Compounded Sales Growth
- 10 Years
- +21%
- 5 Years
- +31%
- 3 Years
- +12%
- TTM
- +42%
Compounded Profit Growth
- 10 Years
- +27%
- 5 Years
- +45%
- 3 Years
- +30%
- TTM
- +58%
Stock Price CAGR
- 10 Years
- +40%
- 5 Years
- +50%
- 3 Years
- +53%
- 1 Year
- +33%
Return on Equity
- 10 Years
- +29%
- 5 Years
- +32%
- 3 Years
- +32%
- Last Year
- +33%
Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.
Shareholding pattern
| Holder | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 73.15% | 73.15% | 73.15% | 73.15% | 0.00 pp |
| FII | 6.74% | 6.59% | 6.39% | 6.13% | -0.26 pp |
| DII | 12.91% | 12.89% | 13.36% | 13.55% | +0.19 pp |
| Public | 7.20% | 7.35% | 7.10% | 7.15% | +0.05 pp |
Filed with NSE for Sept 2026: promoters 73.15%, public 26.85% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 12.11% (-0.14 pp)- Promoters73.2%
- Foreign institutions6.1%
- Mutual funds12.1%
- Insurance0.5%
- Other domestic institutions0.9%
- Retail4.8%
- Others2.4%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| SBI Aggressive Hybrid Fund | 1.93% | 4.06% | +0.15 pp |
| SBI Focused Fund | 1.20% | 4.32% | -0.07 pp |
| Kotak Flexi Cap Fund | 1.09% | 3.71% | +0.36 pp |
| Kotak Mid Cap Fund | 0.89% | 2.41% | +0.16 pp |
| HDFC Defence Fund | 0.65% | 10.28% | -1.04 pp |
Scorecard
- Performance
- High
- Valuation
- High
- Growth
- Avg
- Profitability
- High
- Entry point
- Good
- Red flags
- Low
Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.
Risk & trend
From 275 daily sessions to 23 Oct 2026.
Risk
- Volatility (1Y)
- 35.6%
- Downside volatility
- 35.6%
- Worst 5% of days
- 3.2%
- Average of that tail
- 4.6%
- Max drawdown (1Y)
- 20.6%
- Below its peak
- 18.2%
Against the market
- Beta vs Nifty 50
- 0.87
- Correlation
- 0.32
- Relative strength (3M)
- +3.9%
- ATR (14)
- 3.4%
Return
- Return 1M
- -7.7%
- Return 3M
- -1.4%
- Return 6M
- +20.3%
- Return 1Y
- +31.4%
- vs 200-day average
- +9.7%
Momentum
- RSI (14)
- 35.5
- MACD histogram
- -131.38
- Stochastic %K
- 10.5
- ADX (14)
- 15.5
- +DI / −DI
- 14.1 / 32.2
- Money flow index
- 50.9
Participation
- Delivery (20d avg)
- 39.8%
- vs its 60-day baseline
- +1.3 pts
- Volume vs 20-day
- -0.4σ
- Close vs day's VWAP
- -0.1%
- 52-week position
- 62 / 100
These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.
Financial quality
From consolidated statements to 31 Mar 2026.
No F-Score: it needs two reporting periods a year apart that carry both an income statement and a balance sheet, and this company's filings do not yet line up that way. The ratios below need only the one period and are unaffected.
- Free cash flow
- -₹1,118 Cr
- FCF yield
- -0.7%
- Cash conversion
- 0.36
- Accruals ratio
- 0.102
- Net debt
- ₹1,340 Cr
- Net debt / equity
- 0.21
- EV / sales
- 15.01
- Capex intensity
- 17.7%
Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.
Model simulation
30 independent runs of NeoQuasar/Kronos-small, conditioned on daily bars to 16 Oct 2026, simulating 10 sessions ahead.
Lower edge (10th percentile)
₹17,593.38
-12.1%
Upper edge (90th percentile)
₹19,529.29
-2.4%
The marker is the last close, ₹20,011. Eight of every ten simulated runs ended inside this range; the middle run ended at ₹18,448.67 (-7.8%), which is the centre of the simulation and not an expected or target price.
The model reads price history only. It has not seen this company's results, its filings, its industry or anything that happened after 16 Oct 2026. Ranges widen with horizon because the further out the simulation runs, the less the recent past constrains it.
Insider trades
| Person | Type | Shares | Value | Disclosed |
|---|---|---|---|---|
Shri Kailash Chandra Nuwal Promoters · Gift | Sell | 2,08,82,963 | ₹4.2 Cr | 12 Mar 2026 |
Smt. Indira Kailashchandra Nuwal Promoters · Gift | Sell | 55,68,230 | ₹1.1 Cr | 12 Mar 2026 |
Sohan Devi Nand Lal Nuwal Family Trust Promoters · Gift | Buy | 2,64,51,193 | ₹5.3 Cr | 12 Mar 2026 |
Sohan Devi Nand Lal Nuwal Family Trust Promoters · Gift | Buy | 2,64,51,193 | ₹5.3 Cr | 11 Mar 2026 |
Shri Kailash Chandra Nuwal Promoters · Gift | Sell | 2,08,82,963 | ₹4.2 Cr | 11 Mar 2026 |
Smt. Indira Kailashchandra Nuwal Promoters · Gift | Sell | 55,68,230 | ₹1.1 Cr | 11 Mar 2026 |
Disclosures filed with NSE under SEBI (Prohibition of Insider Trading) Regulations. Pledges and releases are not trades and are not counted above.
Corporate actions
- dividend₹11.00
Dividend - Rs 11 Per Share
28 Jul 2026ex-date - dividend₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
8 Jul 2025ex-date - dividend₹8.50
Annual General Meeting/Dividend - Rs 8.50 Per Share
4 Jul 2024ex-date - dividend₹8.00
Annual General Meeting/Dividend - Rs 8 Per Share
9 Jun 2023ex-date - dividend₹7.50
Annual General Meeting/ Dividend - Rs 7.50 Per Share
27 May 2022ex-date - dividend₹6.00
Annual General Meeting/Dividend - Rs 6 Per Share
18 Aug 2021ex-date - dividend₹6.00
Annual General Meeting/Dividend - Rs 6 Per Share
3 Sept 2020ex-date - dividend₹7.00
Annual General Meeting/ Dividend - Rs 7 Per Share
18 Jul 2019ex-date - dividend₹6.00
Annual General Meeting / Dividend- Rs 6 Per Share
18 Jul 2018ex-date - dividend₹3.00
Annual General Meeting/Dividend - Rs 3/- Per Share (Book Closure Dates Revised)
9 Aug 2017ex-date - dividend₹2.00
Interim Dividend Rs 2/- Per Share (Purpose Revised)
20 Feb 2017ex-date - otherNot available — not reported in this filing
Annual General Meeting (Book Closure Date Revised)
15 Sept 2016ex-date - otherNot available — not reported in this filing
Fv Splt Frm Rs 10 To Rs 2
13 Jul 2016ex-date - dividend₹13.50
Interim Dividend - Rs 13.50/- Per Share
16 Mar 2016ex-date - dividend₹9.00
Interim Dividend - Rs 9/- Per Share
9 Nov 2015ex-date - dividend₹9.00
Annual General Meeting/Dividend - Rs 9/- Per Share
27 Aug 2015ex-date - dividend₹8.00
Interim Dividend - Rs 8/- Per Share
19 Nov 2014ex-date - dividend₹7.00
Annual General Meeting / Final Dividend - Rs 7/- Per Share
22 Aug 2014ex-date - dividend₹5.00
Interim Dividend - Rs 5/- Per Share
13 Nov 2013ex-date - dividend₹6.00
Annual General Meeting / Dividend - Rs.6/- Per Equity Share
30 Aug 2013ex-date
Company announcements
Disclosure under Regulation 30 of the SEBI (LODR) Regulations 2015
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for quarter ended September 30, 2026.
Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015.
Intimation of Closure of Trading Window
Intimation under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015
Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015-Credit Rating
Certificate confirming fulfilment of payment obligation with respect to Commercial Paper issued dated June 19, 2026, by Solar Industries India Limited.
Transcription of Conference Call with reference to the proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited.
Audio recording of conference call of proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited
Intimation of Conference Call under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Disclosure under regulation 30 of SEBI (LODR) Regulations, 2015
Press release on proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited
Intimation under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
Clarification under regulation 30 (11) of SEBI (LODR) Regulations, 2015 on news items appearing in "Mainstream Media"
The Exchange has sought clarification from Solar Industries India Ltd on September 03, 2026, with reference to news appeared in https://www.moneycontrol.com/ dated September 03, 2026 quoting ....
Filed with BSE (scrip 532725); the last 45 days. Documents open at bseindia.com.
SEBI filings & orders
From SEBI's website. An order may concern the company, its officers or trading in its shares, and may be under appeal - read the order itself. Personal identifiers are withheld.
Regulatory orders
- Order
Corrigendum to the Exemption Order under Regulation 11 of SEBI (SAST) Regulations, 2011 in the matter of Solar Industries India Limited
21 Mar 2025Read on SEBI - Order
Exemption Order under Regulation 11 of SEBI (SAST) Regulations, 2011 in the matter of Solar Industries India Limited
21 Mar 2025Read on SEBI
Documents
Annual reports
Earnings calls
- Sep 2026TranscriptRecording
- Aug 2026Slides
- May 2026TranscriptSlidesRecording
- Feb 2026TranscriptSlidesRecording
- Nov 2025TranscriptSlides
- Sep 2025Transcript
Credit ratings
- Rating update · 23 Sep from icra
- Rating update · 22 Sep from crisil
- Rating update · 4 Sep from icra
- Rating update · 23 Apr from crisil
- Rating update · 2 Feb from icra
- Rating update · 28 Nov 2025 from icra
Documents open at BSE or the rating agency that issued them.
Sourced from the company's NSE XBRL filing dated 13 Aug 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.
Solar Industries: common questions
Answered from the figures on this page.
