SOLARINDS · NSE
Solar Industries India Limited
₹18,555
-1.38% (-₹260)
Prev. close
₹18,815
Volume
2,02,858
Delivery %
46.1%
As of
18 Sept 2026
Price history
Analyst sentiment
Analysts lean bullish
4 analyst stances · last 90 days · one per analyst
Trackable
3 · 2 bull / 1 neutral / 0 bear
Long-Horizon
none in window
Commentary
1 · 1 bull / 0 neutral / 0 bear
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Initiated 'hold' on Solar Industries with a target price of ₹22,753 per share, indicating an 18.2% upside. The defence s…” | HSBC AnalysisHSBC | Solar Industries Ltd | PENDING | |
| “Bullish on Solar Industries, citing an optimistic view towards its potential to reach ₹13,000. This positive outlook is …” | Mayuresh JoshiMarketsmith India | Solar Industries Ltd | PENDING | |
| “Bullish on Solar Industries with a Buy rating and a target price of Rs 28,160, implying over 26% upside from the last cl…” | Jefferies AnalysisJefferies | Solar Industries Ltd | PENDING |
Market commentary · 1 · levels, conditionals, previews, macro & hedged views — context, not graded
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Remains bullish on Solar Industries despite a recent market cap drop post-acquisition news. Estimates revenue, EBITDA, a…” | Rahul AroraAshika Institutional Equities | Solar Industries | PENDING |
Fundamentals
About Solar Industries India Limited
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.
Details
Sector
Basic Materials
Industry
Specialty Chemicals
CEO
Mr. Manish Satyanarayan Nuwal
Headquarters
Nagpur
Employees
2,351
Website
solargroup.comExchange
View on NSE ↗Key stats
Market cap
₹1.70 L Cr
P/E ratio (TTM)
85.8
Dividend yield
0.06%
EPS (TTM)
₹219.24
Beta (1Y · daily vs NIFTY 50)
0.90
Beta (5Y · monthly vs NIFTY 50)
0.96
Shares float
2.39 Cr
EPS · quarter ended Jun 2026
₹72.11
Upcoming earnings
20 Nov 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹2,515.63 Cr | ₹3,947.61 Cr | ₹6,922.53 Cr | ₹6,069.52 Cr | ₹7,360.06 Cr | ₹9,837.74 Cr | |
| EBITDA | ₹536.02 Cr | ₹766.92 Cr | ₹1,320.44 Cr | ₹1,413.68 Cr | ₹2,036.74 Cr | ₹2,749.79 Cr |
| ₹276.35 Cr | ₹441.28 Cr | ₹757.19 Cr | ₹835.93 Cr | ₹1,209.44 Cr | ₹1,677.55 Cr | |
| Diluted EPS | ₹30.54 | ₹48.77 | ₹83.68 | ₹92.38 | ₹133.65 | ₹185.39 |
Total expenses (as filed), Employee benefit expense, Other expenses, Other income have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹3,029.71 Cr | ₹3,724.30 Cr | ₹5,036.25 Cr | ₹5,737.20 Cr | ₹8,298.08 Cr | ₹10,918.50 Cr | |
| ₹807.56 Cr | ₹888.00 Cr | ₹1,194.68 Cr | ₹1,367.55 Cr | ₹1,369.56 Cr | ₹1,809.25 Cr | |
| Stockholders' equity | ₹1,579.41 Cr | ₹1,914.28 Cr | ₹2,610.34 Cr | ₹3,305.60 Cr | ₹4,413.22 Cr | ₹6,277.20 Cr |
CWIP, Others have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹356.68 Cr | ₹297.80 Cr | ₹656.48 Cr | ₹1,406.01 Cr | ₹2,467.56 Cr | ₹620.87 Cr | |
| Investing cash flow | ₹-250.74 Cr | ₹-303.05 Cr | ₹-518.98 Cr | ₹-726.46 Cr | ₹-1,593.21 Cr | ₹-1,163.83 Cr |
| ₹-26.07 Cr | ₹-45.40 Cr | ₹118.16 Cr | ₹-370.28 Cr | ₹-476.36 Cr | ₹209.46 Cr | |
| Capital expenditure | ₹-275.76 Cr | ₹-304.94 Cr | ₹-479.11 Cr | ₹-559.75 Cr | ₹-1,005.95 Cr | ₹-1,739.12 Cr |
| End cash position | ₹169.93 Cr | ₹84.67 Cr | ₹245.04 Cr | ₹258.98 Cr | ₹590.43 Cr | ₹469.44 Cr |
Debt issued, Debt repaid have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21–Jun 26(20Q) |
|---|---|
| Promoter | 73.15% |
| Public | 26.85% |
| Employee trusts | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Basic Materials
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| UltraTech Cement Limited | ₹3.17 L Cr | ₹11,014 | 36.9 | 4.13 | 10.7% | 0.31 | +16.6% | -12.8% |
| JSW Steel Limited | ₹3.06 L Cr | ₹1,275.6 | 12.4 | 3.06 | 22.3% | 1.19 | +9.3% | +13.8% |
| Hindustan Zinc Limited | ₹2.42 L Cr | ₹596 | 14.2 | 10.69 | 61.1% | 0.39 | +18.6% | +31.0% |
| Asian Paints Limited | ₹2.35 L Cr | ₹2,451.3 | 49.3 | 11.01 | 20.2% | 0.18 | +5.1% | -1.1% |
| Tata Steel Limited | ₹2.28 L Cr | ₹187.29 | 20.7 | 2.23 | 10.6% | 0.90 | +6.2% | +9.3% |
| Hindalco Industries Limited | ₹2.18 L Cr | ₹986.5 | 13.3 | 1.59 | 9.8% | 0.73 | +15.0% | +31.5% |
| Grasim Industries Limited | ₹2.15 L Cr | ₹3,209.2 | 37.9 | 2.08 | 4.8% | 2.20 | +18.2% | +11.5% |
| Solar Industries India Limited | ₹1.71 L Cr | ₹18,815 | 86.1 | 27.25 | 26.7% | 0.29 | +30.6% | +27.0% |
| Vedanta Aluminium Metal Limited | ₹1.60 L Cr | ₹416.5 | 42.1 | — | — | — | — | — |
| Pidilite Industries Limited | ₹1.58 L Cr | ₹1,572.1 | 59.8 | 14.58 | 22.6% | 0.04 | +11.1% | -48.5% |
| JINDAL STEEL LIMITED | ₹1.11 L Cr | ₹1,103 | 41.1 | 2.19 | 6.6% | 0.44 | +5.5% | +4.7% |
| Lloyds Metals And Energy Limited | ₹1.02 L Cr | ₹1,799.3 | 21.1 | 7.35 | 26.5% | 1.49 | +153.9% | +34.2% |
Ranked by market cap within Basic Materials, same metrics as the Fundamentals screener. Click a column to sort.
Documents
Annual reports
Show all 22
Concall transcripts
Show all 15
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
41 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.
Solar Industries Falls 9% After Rs 12,951 Cr Omnia Acquisition
Solar Industries India shares fell nearly 9% after announcing a Rs 12,951 crore all-cash acquisition of South Africa-based Omnia Holdings. Investors are weighing the large transaction size against potential strategic benefits, despite Goldman Sachs maintaining a Buy rating. The deal aims to expand Solar Industries' international presence and strengthen its explosives and mining solutions.
Solar Industries India (SOLARINDS.NS) Slips 1.82% to ₹18,900 as Traders Eye Support at ₹17,955 - Momentum Stock Picks
siam.in · 2 days ago