Solar Industries India Limited

BSE: SOLARINDS532725ISIN INE343H01029

Commodities
Explosives
BSE 200

BSE listing

Share price

₹18,830.00-60.00 (-0.32%)

as of 18 Sep 2026

52W high: ₹22,630.05
52W low: ₹11,641.10
Off 52W high: -16.79%
1M return: -4.90%
3M return: +4.33%
6M return: +45.53%
1Y return: +28.86%
20D avg volume: 21,970
50 DMA: ₹19,515.17
200 DMA: ₹15,920.87

Key ratios Consolidated

Market cap: ₹1,70,393 Cr
Current price: ₹18,830.00
52W high / low: ₹22,630.05 / ₹11,641.10
Face value: ₹2.00
P/E: 83.09
P/B: —
EPS (TTM): ₹226.61
Book value / share: —
ROE: —
ROCE: 29.50%
Operating margin: —
Net margin: —
Debt / equity: 0.22
Net debt: ₹998.40 Cr
Interest cover: 18.65
Dividend yield: 0.06%
Dividend / share (TTM): ₹11.00
Payout: 4.85%
Cash conversion cycle: 110.1 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	3,668	3,053	2,548	2,082	2,154	2,167	1,973	1,716	1,695	1,611	1,429	1,347
	8.52	44.47	25.07	29.18	29.26	6.55	9.54	30.45	24.29	17.65	10.91	7.72
	2,774	2,339	1,937	1,621	1,703	1,706	1,524	1,344	1,313	1,326	1,140	1,070
	1,787	1,435	1,116	908.18	994.68	927.13	885.09	640.83	813.96	744.82	634.50	547.74
	104.80	164.50	159.37	122.33	122.48	185.86	130.42	252.95	96.56	48.90	129.89	96.72
	255.60	252.59	213.90	194.70	183.79	173.58	150.69	144.69	131.11	118.54	111.48	103.34
	41.26	41.27	34.38	30.89	27.43	28.78	30.51	29.74	27.47	31.52	28.29	24.89
	79.74	71.42	62.85	60.62	55.98	50.49	47.42	43.61	39.98	37.01	38.60	33.67
	540.23	452.65	384.90	346.87	341.41	287.82	267.18	283.41	244.11	309.01	209.79	255.25
	902.71	757.75	636.04	490.46	480.70	466.95	458.15	401.87	406.22	302.82	300.26	285.31
	0.00	0.00	0.00	-0.94	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	902.71	757.75	636.04	489.52	480.76	466.95	458.15	401.87	406.22	302.82	300.26	285.31
	245.09	203.00	169.37	127.83	128.14	118.26	121.61	103.19	107.75	62.67	76.99	75.54
	666.37	556.03	466.54	361.69	352.62	346.11	337.50	303.78	300.54	242.71	221.94	208.99
	72.11	60.52	49.31	38.12	37.43	35.61	—	31.59	31.66	25.98	22.47	22.12
Key metrics
	1,024	870.44	733.27	581.03	564.17	546.22	536.08	475.22	473.67	371.35	367.15	343.87
	27.90%	28.50%	28.80%	27.90%	26.20%	25.20%	27.20%	27.70%	27.90%	23.10%	25.70%	25.50%
	18.20%	18.20%	18.30%	17.40%	16.40%	16.00%	17.10%	17.70%	17.70%	15.10%	15.50%	15.50%
	—	9.40%	—	7.60%	—	8.10%	—	—	—	—	—	—
	70.30%	40.90%	29.20%	21.40%	27.10%	34.50%	38.10%	27.30%	—	—	—	—
	89.00%	60.70%	38.20%	19.10%	17.30%	42.60%	52.10%	45.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	11,351	9,838	7,540	6,070	6,923	3,948	2,516	2,237	2,462	1,951	1,711
	107.24	127.98	70.83	44.47	31.52	19.66	21.42	41.05	14.72	12.10	13.21
	8,672	7,601	5,878	4,953	5,852	3,360	2,140	1,943	2,068	1,624	1,453
	5,246	4,503	3,375	2,710	3,820	2,066	1,185	1,104	1,253	1,061	903.25
	551.00	568.68	557.44	402.58	560.22	301.85	199.37	153.36	137.34	40.39	20.44
	916.79	844.98	600.07	433.46	352.72	289.63	230.64	206.62	184.20	133.48	104.31
	147.80	133.97	116.50	109.37	90.38	50.25	45.39	55.04	49.87	—	26.89
	274.63	250.87	181.50	143.38	128.21	109.25	93.53	84.53	58.89	—	—
	1,725	1,477	1,073	1,071	938.52	583.39	—	381.36	374.49	307.51	245.28
	2,787	2,365	1,733	1,161	1,102	607.42	397.10	335.80	407.90	339.64	271.47
	-0.94	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-6.05	0.00	0.00
	2,786	2,365	1,733	1,161	1,102	607.42	397.10	335.80	401.85	339.64	271.47
	745.29	628.58	450.81	286.05	290.41	151.95	109.03	57.13	125.05	106.05	76.74
	2,051	1,737	1,288	875.23	811.17	455.47	288.07	278.67	276.80	233.59	194.73
	220.06	185.39	133.65	92.38	83.68	48.77	30.54	29.55	28.91	—	—
Key metrics
	3,208	2,750	2,031	1,414	1,320	766.92	536.02	475.37	510.61	339.64	298.36
	28.26%	28.00%	26.90%	23.30%	19.10%	19.40%	21.30%	21.20%	20.70%	17.40%	17.40%
	18.06%	17.70%	17.10%	14.40%	11.70%	11.50%	11.50%	12.50%	11.20%	12.00%	11.40%
	—	29.50%	30.10%	—	—	—	—	—	—	—	—
	—	30.50%	24.20%	-12.30%	75.40%	56.90%	12.40%	-9.10%	26.10%	14.00%	—
	—	34.80%	47.20%	7.90%	78.10%	58.10%	3.40%	0.70%	18.50%	20.00%	—
	—	-1,118	1,462	—	—	—	—	—	—	—	—
	—	0.36	1.92	—	—	—	—	—	—	—	—
	—	0.22	0.21	—	—	—	—	—	—	—	—
	—	998.40	349.16	—	—	—	—	—	—	—	—
	—	110.1	86.5	—	—	—	—	—	—	—	—
Balance sheet
	—	10,918	8,261	—	—	—	—	—	—	—	—
	—	5,037	4,123	—	—	—	—	—	—	—	—
	—	469.44	590.43	—	—	—	—	—	—	—	—
	—	1,858	1,239	—	—	—	—	—	—	—	—
	—	1,742	1,040	—	—	—	—	—	—	—	—
	—	712.46	418.95	—	—	—	—	—	—	—	—
	—	3,716	2,470	—	—	—	—	—	—	—	—
	—	631.74	492.52	—	—	—	—	—	—	—	—
	—	2,449	2,114	—	—	—	—	—	—	—	—
	—	1,468	939.59	—	—	—	—	—	—	—	—
	—	647.48	545.71	—	—	—	—	—	—	—	—
	—	820.36	393.88	—	—	—	—	—	—	—	—
	—	6,549	4,537	—	—	—	—	—	—	—	—
Cash flow
	—	620.87	2,468	—	—	—	—	—	—	—	—
	—	-1,164	-1,593	—	—	—	—	—	—	—	—
	—	209.46	-476.36	—	—	—	—	—	—	—	—
	—	1,739	1,006	—	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,656	1,574	1,493	1,125	1,387	1,299	1,207	905.49	1,045	1,002	902.25	830.34
	29.83	83.48	37.51	56.58	29.67	14.53	11.80	31.64	25.78	13.18	17.68	13.56
	1,204	1,150	1,087	866.32	1,041	1,010	944.65	698.96	809.62	775.51	734.21	653.20
	904.82	743.65	650.34	476.52	682.56	699.95	612.83	451.48	590.19	537.06	463.68	411.44
	16.05	76.57	118.57	117.75	96.30	42.37	75.31	62.17	51.33	24.47	85.51	73.70
	84.50	86.40	70.91	67.57	68.67	70.34	56.43	52.78	52.73	52.24	48.17	42.60
	6.88	7.34	5.68	6.26	6.74	8.08	7.88	6.73	6.24	7.88	7.73	6.33
	28.05	26.42	25.43	24.73	23.13	20.75	19.10	17.86	16.93	16.20	16.13	15.72
	193.05	213.97	215.48	186.76	173.57	174.04	154.37	119.22	99.77	119.11	98.55	93.12
	482.04	506.81	443.05	315.48	375.34	303.98	274.39	238.17	260.75	239.34	185.72	190.70
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	482.04	506.81	443.05	315.48	375.34	303.98	274.39	238.17	260.75	239.34	185.72	190.70
	123.66	129.03	113.60	80.53	95.82	76.95	69.97	60.71	66.55	59.95	47.40	49.52
	358.38	377.78	329.45	234.95	279.52	227.03	204.42	177.46	194.20	179.39	138.32	141.18
	39.60	41.75	36.41	25.96	30.89	25.09	22.59	19.61	21.46	19.82	15.29	15.60
Key metrics
	516.97	540.57	474.16	346.47	405.21	332.81	301.37	262.76	283.92	263.42	209.58	212.75
	31.20%	34.40%	31.80%	30.80%	29.20%	25.60%	25.00%	29.00%	27.20%	26.30%	23.20%	25.60%
	21.60%	24.00%	22.10%	20.90%	20.20%	17.50%	16.90%	19.60%	18.60%	17.90%	15.30%	17.00%
	—	11.10%	—	8.20%	—	8.80%	—	—	—	—	—	—
	19.40%	21.10%	23.70%	24.30%	32.80%	29.70%	33.80%	9.10%	—	—	—	—
	28.20%	66.40%	61.20%	32.40%	43.90%	26.60%	47.80%	25.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	5,848	5,579	4,457	3,718	4,162	2,528	1,584	1,512	1,663	1,305	1,253
	207.40	207.24	83.75	58.34	55.84	36.17	25.64	35.35	21.22	18.23	13.38
	4,308	4,145	3,463	2,976	3,618	2,211	1,357	1,294	1,391	1,118	1,069
	2,775	2,553	2,354	2,049	2,797	1,647	918.71	872.12	968.99	750.02	678.57
	328.94	409.19	231.18	232.60	213.56	160.35	122.16	102.27	92.77	91.39	76.07
	309.38	293.55	232.28	185.51	145.36	131.89	95.98	94.10	91.12	69.00	54.35
	26.16	26.02	28.93	29.58	27.57	8.85	6.52	12.17	11.92	—	13.79
	104.63	99.71	74.64	63.37	57.02	49.44	37.98	33.96	28.93	26.09	19.28
	809.26	789.78	547.40	395.90	383.24	239.13	192.94	193.78	183.25	154.81	113.27
	1,747	1,641	1,077	800.05	600.08	353.02	253.22	252.44	293.54	205.42	197.15
	0.00	0.00	0.00	—	—	—	—	—	-6.05	—	—
	1,747	1,641	1,077	800.05	600.08	353.02	253.22	252.44	287.49	205.42	197.15
	446.82	418.98	274.18	203.75	154.69	91.50	64.15	39.04	96.02	71.16	64.57
	1,301	1,222	803.11	596.30	445.39	261.52	189.07	213.40	191.47	134.26	132.58
	143.72	135.01	88.75	65.90	49.22	—	20.89	23.58	21.16	—	—
Key metrics
	1,878	1,766	1,181	893.00	684.67	411.31	297.72	298.57	328.34	231.51	230.22
	32.12%	31.70%	26.50%	24.00%	16.40%	16.30%	18.80%	19.80%	19.70%	17.70%	18.40%
	22.24%	21.90%	18.00%	16.00%	10.70%	10.30%	11.90%	14.10%	11.50%	10.30%	10.60%
	—	36.10%	31.10%	—	—	—	—	—	—	—	—
	—	25.20%	19.90%	-10.70%	64.60%	59.60%	4.80%	-9.10%	27.40%	4.20%	—
	—	52.10%	34.70%	33.90%	70.30%	38.30%	-11.40%	11.50%	42.60%	1.30%	—
	—	518.80	775.94	—	—	—	—	—	—	—	—
	—	0.76	1.31	—	—	—	—	—	—	—	—
	—	0.03	0.06	—	—	—	—	—	—	—	—
	—	-108.69	2.02	—	—	—	—	—	—	—	—
	—	77.7	81.6	—	—	—	—	—	—	—	—
Balance sheet
	—	5,529	4,436	—	—	—	—	—	—	—	—
	—	2,012	1,939	—	—	—	—	—	—	—	—
	—	250.36	192.92	—	—	—	—	—	—	—	—
	—	984.79	786.52	—	—	—	—	—	—	—	—
	—	405.28	396.97	—	—	—	—	—	—	—	—
	—	186.78	120.15	—	—	—	—	—	—	—	—
	—	1,361	1,124	—	—	—	—	—	—	—	—
	—	201.17	186.80	—	—	—	—	—	—	—	—
	—	909.05	880.72	—	—	—	—	—	—	—	—
	—	141.67	194.94	—	—	—	—	—	—	—	—
	—	62.92	101.38	—	—	—	—	—	—	—	—
	—	78.75	93.56	—	—	—	—	—	—	—	—
	—	4,227	3,067	—	—	—	—	—	—	—	—
Cash flow
	—	927.34	1,054	—	—	—	—	—	—	—	—
	—	-681.95	-691.25	—	—	—	—	—	—	—	—
	—	-187.95	-231.81	—	—	—	—	—	—	—	—
	—	408.54	277.97	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +10.26%
Sales CAGR 5Y: +28.63%
Sales CAGR 10Y: —
Profit CAGR 3Y: +39.98%
Profit CAGR 5Y: +45.23%
Profit CAGR 10Y: —
Sales YoY (TTM): +21.86%
Profit YoY (TTM): +46.39%

Consolidated

Sales CAGR 3Y: +12.43%
Sales CAGR 5Y: +31.36%
Sales CAGR 10Y: —
Profit CAGR 3Y: +28.88%
Profit CAGR 5Y: +43.23%
Profit CAGR 10Y: —
Sales YoY (TTM): +41.72%
Profit YoY (TTM): +53.03%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 73.14%

Holder	Type	Holding	Previous	Change
Manish Satyanarayan Nuwal	Promoter	38.93%	—	—
Sohan Devi Nand Lal Nuwal Family Trust	Promoter Group	29.23%	—	—
Sbi Equity Hybrid Fund	Public	3.63%	—	—
Satyanarayan Nandlalji Nuwal	Promoter	3.58%	—	—
Kotak Flexicap Fund	Public	2.77%	—	—
Seema Manish Nuwal	Promoter	1.37%	—	—
Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Midcap Fund	Public	1.22%	—	—
Rahul Nuwal	Promoter	0.03%	—	—
Raghav Manish Nuwal	Promoter	0.00%	—	—
Indira Kailashchandra Nuwal	Promoter	0.00%	—	—
Leeladevi Satyanarayan Nuwal	Promoter	0.00%	—	—
Harshwardhan Manish Nuwal	Promoter	0.00%	—	—
Kailash Chandra Nuwal	Promoter	0.00%	—	—
Sohandevi Nuwal	Promoter	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Certificate confirming fulfilment of payment obligation with respect to Commercial Paper issued dated June 19, 2026, by Solar Industries India Limited.17 Sep 2026 · Others / Intimation of Repayment of Commercial Paper (CP)
Transcription of Conference Call with reference to the proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited.17 Sep 2026 · Company Update / Earnings Call Transcript
Audio recording of conference call of proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited15 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of Conference Call under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.14 Sep 2026 · Company Update / Analyst / Investor Meet
Disclosure under regulation 30 of SEBI (LODR) Regulations, 201514 Sep 2026 · Company Update / Acquisition
Press release on proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited14 Sep 2026 · Company Update / Press Release / Media Release
Intimation under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 20154 Sep 2026 · Company Update / Credit Rating
Clarification under regulation 30 (11) of SEBI (LODR) Regulations, 2015 on news items appearing in "Mainstream Media"3 Sep 2026 · Others
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 ....3 Sep 2026 · Company Update / Clarification
Submission of Newspaper Clippings for the unaudited financial results for the quarter ended on June 30, 202615 Aug 2026 · Company Update / Newspaper Publication
Updates on Unaudited Financial Results (Standalone and Consolidated) of the Company for the Quarter Ended on June 30, 2026.13 Aug 2026 · Company Update / Press Release / Media Release
Presentation on Unaudited Financial Results for the Quarter Ended on June 30, 202613 Aug 2026 · Company Update / Investor Presentation
Unaudited Financial Results for the Quarter ending on June 30, 202613 Aug 2026 · Result / Financial Results
Outcome of Board Meeting dated August 13, 202613 Aug 2026 · Board Meeting / Outcome of Board Meeting
Disclosure of Voting Results and Scrutinisers Report of 31st Annual General Meeting of the Company held on August 11, 2026 through Video Conferencing/ Other Audio Visual Means (VC/OAVM)12 Aug 2026 · AGM/EGM / AGM
Summary of Proceedings of 31st Annual General Meeting of the Company.11 Aug 2026 · AGM/EGM / AGM
Solar Industries India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2026 ,inter alia, to consider and approve the Unaudited Standalone ....6 Aug 2026 · Board Meeting / Board Meeting
Newspaper clippings- 31st Annual General Meeting, Information on E-voting, Record Date and Final Dividend21 Jul 2026 · Company Update / Newspaper Publication
Letter to the Shareholders - Annual Reports Financial Year 2025-2621 Jul 2026 · Company Update / General
Integrated Annual Report for the financial year 2025-26 including Notice convening the 31st Annual General Meeting (AGM) and Intimation of Record Date.20 Jul 2026 · AGM/EGM / AGM
Integrated Annual report for the financial year 2025-26 including Notice convening 31st Annual General Meeting (AGM) and Intimation of Record date.20 Jul 2026 · Others / Reg. 34 (1) Annual Report
Newspaper clippings- 31st Annual General Meeting, Information on E-voting and Record Date15 Jul 2026 · Company Update / Newspaper Publication
Disclosure under Regulation 30 read with part A of Schedule III of SEBI (Listing Obligation and Disclosure Requirement) 20159 Jul 2026 · Company Update / Acquisition
Certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulation, 2018 for quarter ended June 30, 2026.9 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of Closure of Trading Window.30 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Intimation of Book Closure pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.29 Jun 2026 · Corp. Action / Book Closure
Intimation of issuance of commercial paper amounting to Rs. 75 crores.19 Jun 2026 · Company Update / Issue of Securities
Intimation of participating in the India Investment Forum 20262 Jun 2026 · Company Update / Analyst / Investor Meet
Intimation of Receipt of Export Order for Supply of Defence Products of INR 1076 Crores.29 May 2026 · Company Update / Award of Order / Receipt of Order
Transcription of Conference Call with reference to the audited financial results for the quarter and year ended on March 31, 2026, with the management of the Company.18 May 2026 · Company Update / Earnings Call Transcript
Submission of newspaper clippings for the audited financial results for the quarter and year ended on March 31, 2026.16 May 2026 · Company Update / Newspaper Publication
Audio recording of earning conference call of audited financial results of the Company for the quarter and year ended March 31, 2026.16 May 2026 · Company Update / Analyst / Investor Meet
Intimation of Appointment of an Additional Director (Non-Executive Independent Director).15 May 2026 · Company Update / Change in Management
Updates on Audited Financial Results (Standalone and Consolidated) for the quarter and year ended on March 31, 2026.15 May 2026 · Company Update / Press Release / Media Release
Presentation on Audited Financial Results for the quarter and year ended March 31, 2026.15 May 2026 · Company Update / Investor Presentation
Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended on March 31, 2026.15 May 2026 · Result / Financial Results
Outcome of the Board Meeting dated May 15, 2026.15 May 2026 · Board Meeting / Outcome of Board Meeting
Intimation of Corporate Meeting14 May 2026 · Company Update / General
Revised Intimation of Conference Call under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.12 May 2026 · Company Update / Analyst / Investor Meet
Intimation of Conference Call under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.8 May 2026 · Company Update / Analyst / Investor Meet

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 11.0000	28 Jul 2026	28 Jul 2026	—
Final Dividend - Rs. - 10.0000	8 Jul 2025	8 Jul 2025	—
Final Dividend - Rs. - 8.5000	4 Jul 2024	—	—

Board meetings

13 Aug 2026 Board Meeting - Financial Results