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Solar Industries India share price & results

Solar Industries India Limited· Chemicals· Commodities

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Top-5 global explosives maker supplying industrial blasting systems and defence munitions in 90+ countries.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue3,668 ₹ crore+70.3% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin28.0 %+3.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit666 ₹ crore+88.7% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity37.27 %+0.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-10.90 %−30.4 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)41.71 %+6.3 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

3 of 14 judged targets kept · 9 open · verdicts reflect calls analysed to Q1 FY27.

Solar Industries India Limited management guidance track record on Inve: 23 targets tracked across analysed earnings calls (3 achieved, 11 missed, 9 open).

TargetOriginal wordingSaidLatest callVerdict
155mm Shells Commercial ProductionComing quarters
Call transcript, Q1 FY26 · 8 Aug 2025		Q1 FY26Q1 FY27:No update provided during the special business update call, despite the previous quarter's revised timeline pointing to a Q4 FY26/early FY27 start.
Call transcript, Q1 FY27 · 15 Sept 2026		Ghosted
FY27 EBITDA MarginMaintain current margins (~28%)
Call transcript, Q4 FY26 · 15 May 2026		Q4 FY26Q1 FY27:Guidance effectively revised down. Management now projects a combined EBITDA margin of 22-23% by FY28 post-acquisition, a dilution from the standalone target of ~28%.
Call transcript, Q1 FY27 · 15 Sept 2026		Revised Down
Pinaka Commercial Sales StartEnd of Q2 or start of Q3 FY26
Call transcript, Q1 FY26 · 8 Aug 2025		Q1 FY26Q4 FY26:Achieved. Q4 defense revenue surged to INR 1,008 cr (+134% YoY), confirming that major dispatches, including Pinaka, commenced as per the revised Q4 timeline.
Call transcript, Q4 FY26 · 15 May 2026		Achieved

Source: Inve Guidance Tracker for Solar Industries India Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

11 of Solar Industries India Limited's 23 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 20 more targets are in the full ledger.

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Price

₹19,270 +3.14% · +₹587

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance +37.5% 1Y

₹12k₹14k₹16k₹18k₹20k₹22kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 4 Feb 2026Q4 FY26 — 15 May 2026Q1 FY27 — 15 Sept 2026

1Y: ₹14,017 on 24 Oct 2025 → ₹19,270. High ₹22,455 (8 Sept 2026), low ₹11,772 (18 Dec 2025).

Previous close
₹18,683
Market cap
₹1.7L Cr
52-week range
₹11,772 – ₹22,455
One year
+37.46%
Price to earnings (TTM to Jun 2026)
86.69×
Return on equity (TTM to Jun 2026)
37.27%

Overview

Symbol
NSE:SOLARINDS
Sector
Chemicals
Industry
Commodities
Exchange
NSE
Currency
INR

What Solar Industries India Limited does

Based on the company's own presentations, annual report and earnings calls.

Solar Industries India Limited manufactures and supplies explosives, initiating systems and ammunition for mining, infrastructure, construction, defence and space applications. Its industrial business spans packaged and bulk explosives, detonators, detonating cord, cast boosters and electronic detonators used in blasting, while a fast-growing defence and aerospace arm makes ammunition, rockets, propellants, warheads and loitering munitions. It runs an integrated value chain and earns through large-volume, multi-year supply contracts across domestic and international markets, with defence now roughly a fifth of the portfolio.

Segments

  • Industrial Explosives & Initiating Systems
  • Defence & Aerospace
Global market position
Among top 5 global explosives companies
Manufacturing facilities
40+ across 9 countries and 4 continents
Countries with product presence
90+
Total workforce
11,245
R&D and Quality Control professionals
245
Supplier base
10,000+
Headquarters Nagpur, Maharashtra, IndiaEmployees 11,245 (FY2024-25) Company website

How the price took the results

close before → close after

Q1 FY27
−13.6%
15 Sept
Q4 FY26
+3.9%
15 May
Q3 FY26
−1.6%
4 Feb
Q2 FY26
+2.8%
11 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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