Solar Industries

    SOLARINDS
    Chemicals
    ₹19250.00
    price as of 15/9/2026, 6:28:01 pm

    Market cap ₹1.74 L Cr

    P/E
    87.23
    Day range
    ₹19,065.00 – ₹22,700.00
    52-week range
    ₹11,646.00 – ₹22,700.00
    Volume
    13.04 L
    Open
    ₹22,320.00
    Prev close
    ₹22,290.00

    Key metrics

    P/E (TTM)
    101.5
    EPS (TTM)
    ₹220.05
    ROE (FY26)
    32.5%
    ROCE (latest year)
    38%
    Dividend yield
    0.05%

    Charts & trends

    From company filings. Amounts in ₹ crore.

    Revenue 3Y CAGR
    +12.5%
    Profit 3Y CAGR
    +28.9%
    Revenue YoY (Jun 2026)
    +70.3%
    Profit YoY (Jun 2026)
    +88.7%
    Operating margin
    28.0%
    Net margin
    18.2%

    Revenue, profit & margin - quarterly

    Bars in ₹ crore (a loss shows red); line is operating margin

    Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Jun 20260 Cr950 Cr1.9K Cr2.9K Cr3.8K Cr0%7%14%21%28%
    • Revenue
    • Net profit
    • Operating margin

    Who owns the company

    Shareholding as of Jun 2026

    • Promoter
    • DII
    • Public
    • FII

    Cash flows

    Where cash came from and went, by fiscal year (₹ crore)

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-3.0K Cr-1.5K Cr0 Cr1.5K Cr3.0K Cr
    • Operating
    • Investing
    • Financing
    • Free cash flow

    Return on equity

    Net profit over shareholders' equity, by fiscal year

    FY17FY18FY19FY20FY21FY22FY23FY24FY25FY260%9%18%27%36%15%

    Equity vs debt

    Shareholders' equity against borrowings (₹ crore); line is debt-to-equity

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260 Cr2.0K Cr4.0K Cr6.0K Cr8.0K Cr0.0x0.1x0.3x0.5x0.6x
    • Equity
    • Debt
    • Debt / equity

    Financial statements

    ₹ Crore
    Quarterly results, oldest period first, figures in rupees crore
    Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
    Sales1,3471,4291,6111,6851,7161,9732,1672,1542,0822,5483,0533,668
    Expenses1,0121,0741,2571,2351,2711,4471,6291,6201,5301,8402,2272,653
    Operating Profit3353553544494455275375355527088261,015
    OPM %25%25%22%27%26%27%25%25%26%28%27%28%
    Other Income8112026361072929254617
    Interest252832273031292731344141
    Depreciation343937404447505661637180
    Profit before tax285299305408407459464481490636759911
    Tax %27%26%21%26%25%26%25%27%26%27%27%27%
    Net Profit209222243301304338346353361467556666
    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 15 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.

    Working-capital cycle

    Debtor Days69

    +3 days since Mar 2021

    Inventory Days130

    +11 days since Mar 2021

    Days Payable47

    -31 days since Mar 2021

    Cash Conversion Cycle152

    +44 days since Mar 2021

    Working Capital Days74

    +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 32.1 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
    +43%
    5 Years
    +63%
    3 Years
    +69%
    1 Year
    +54%

    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

    Percentage of shares held by each category at each quarter end
    HolderSept 2025Dec 2025Mar 2026Jun 2026Change
    Promoter73.15%73.15%73.15%73.15%0.00 pp
    FII7.11%6.74%6.59%6.39%-0.20 pp
    DII12.90%12.91%12.89%13.36%+0.47 pp
    Public6.84%7.20%7.35%7.10%-0.25 pp

    Filed with NSE for Jun 2026: promoters 73.15%, public 26.85% · XBRL filing

    Analysts & fund holdings

    79%
    79% recommend buy
    14 analysts cover the stock
    Valuation vs Chemicals
    P/E87.2 vs 24.9
    Sector P/B3.12
    Beta0.98

    Who holds the shares, quarter by quarter

    Mutual funds 12.25% (+0.32 pp)
    Mar 25
    Jun 25
    Sept 25
    Dec 25
    Mar 26
    Jun 26
    • Promoters73.2%
    • Foreign institutions6.4%
    • Mutual funds12.3%
    • Insurance0.5%
    • Other domestic institutions0.6%
    • Retail4.5%
    • Others2.6%
    Mutual funds holding the most
    Fund% of company% of fund3-month change
    SBI Aggressive Hybrid Fund2.00%4.06%+0.15 pp
    SBI Focused Fund1.23%4.32%-0.07 pp
    Kotak Flexi Cap Fund1.12%3.57%+0.22 pp
    Kotak Mid Cap Fund0.91%2.30%+0.05 pp
    HDFC Defence Fund0.69%10.77%-0.55 pp

    Scorecard

    Performance
    High
    Valuation
    High
    Growth
    Avg
    Profitability
    High
    Entry point
    Avg
    Red flags
    Low

    Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.

    Risk & trend

    From 248 daily sessions to 11 Sept 2026.

    Computed

    Risk

    Volatility (1Y)
    32.5%
    Downside volatility
    29.3%
    Worst 5% of days
    3.0%
    Average of that tail
    3.8%
    Max drawdown (1Y)
    20.6%
    Below its peak
    0.7%

    Against the market

    Beta vs Nifty 50
    0.83
    Correlation
    0.33
    Relative strength (3M)
    +30.9%
    ATR (14)
    2.4%

    Return

    Return 1M
    +9.7%
    Return 3M
    +29.0%
    Return 6M
    +51.4%
    Return 1Y
    —
    vs 200-day average
    +41.0%

    Momentum

    RSI (14) · overbought
    74.0
    MACD histogram
    156.98
    Stochastic %K
    88.7
    ADX (14)
    32.0
    +DI / −DI
    35.4 / 10.9
    Money flow index
    78.9

    Participation

    Delivery (20d avg)
    38.9%
    vs its 60-day baseline
    +2.1 pts
    Volume vs 20-day
    -0.1σ
    Close vs day's VWAP
    -0.3%
    52-week position
    98 / 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.

    Corporate actions

    • dividend
      ₹11.00

      Dividend - Rs 11 Per Share

      28 Jul 2026
      ex-date
    • dividend
      ₹10.00

      Annual General Meeting/Dividend - Rs 10 Per Share

      8 Jul 2025
      ex-date
    • dividend
      ₹8.50

      Annual General Meeting/Dividend - Rs 8.50 Per Share

      4 Jul 2024
      ex-date
    • dividend
      ₹8.00

      Annual General Meeting/Dividend - Rs 8 Per Share

      9 Jun 2023
      ex-date
    • dividend
      ₹7.50

      Annual General Meeting/ Dividend - Rs 7.50 Per Share

      27 May 2022
      ex-date
    • dividend
      ₹6.00

      Annual General Meeting/Dividend - Rs 6 Per Share

      18 Aug 2021
      ex-date
    • dividend
      ₹6.00

      Annual General Meeting/Dividend - Rs 6 Per Share

      3 Sept 2020
      ex-date
    • dividend
      ₹7.00

      Annual General Meeting/ Dividend - Rs 7 Per Share

      18 Jul 2019
      ex-date
    • dividend
      ₹6.00

      Annual General Meeting / Dividend- Rs 6 Per Share

      18 Jul 2018
      ex-date
    • dividend
      ₹3.00

      Annual General Meeting/Dividend - Rs 3/- Per Share (Book Closure Dates Revised)

      9 Aug 2017
      ex-date
    • dividend
      ₹2.00

      Interim Dividend Rs 2/- Per Share (Purpose Revised)

      20 Feb 2017
      ex-date
    • other
      Not available — not reported in this filing

      Annual General Meeting (Book Closure Date Revised)

      15 Sept 2016
      ex-date
    • other
      Not available — not reported in this filing

      Fv Splt Frm Rs 10 To Rs 2

      13 Jul 2016
      ex-date
    • dividend
      ₹13.50

      Interim Dividend - Rs 13.50/- Per Share

      16 Mar 2016
      ex-date
    • dividend
      ₹9.00

      Interim Dividend - Rs 9/- Per Share

      9 Nov 2015
      ex-date
    • dividend
      ₹9.00

      Annual General Meeting/Dividend - Rs 9/- Per Share

      27 Aug 2015
      ex-date
    • dividend
      ₹8.00

      Interim Dividend - Rs 8/- Per Share

      19 Nov 2014
      ex-date
    • dividend
      ₹7.00

      Annual General Meeting / Final Dividend - Rs 7/- Per Share

      22 Aug 2014
      ex-date
    • dividend
      ₹5.00

      Interim Dividend - Rs 5/- Per Share

      13 Nov 2013
      ex-date
    • dividend
      ₹6.00

      Annual General Meeting / Dividend - Rs.6/- Per Equity Share

      30 Aug 2013
      ex-date

    Insider trades

    Last 12 months, market trades
    Net buying ₹0
    2 buys · ₹10.6 Cr
    4 sells · ₹10.6 Cr
    Latest insider trades disclosed to NSE
    PersonTypeSharesValueDisclosed
    Smt. Indira Kailashchandra Nuwal
    Promoters · Gift
    		Sell55,68,230₹1.1 Cr12 Mar 2026
    Shri Kailash Chandra Nuwal
    Promoters · Gift
    		Sell2,08,82,963₹4.2 Cr12 Mar 2026
    Sohan Devi Nand Lal Nuwal Family Trust
    Promoters · Gift
    		Buy2,64,51,193₹5.3 Cr12 Mar 2026
    Sohan Devi Nand Lal Nuwal Family Trust
    Promoters · Gift
    		Buy2,64,51,193₹5.3 Cr11 Mar 2026
    Shri Kailash Chandra Nuwal
    Promoters · Gift
    		Sell2,08,82,963₹4.2 Cr11 Mar 2026
    Smt. Indira Kailashchandra Nuwal
    Promoters · Gift
    		Sell55,68,230₹1.1 Cr11 Mar 2026

    Disclosures filed with NSE under SEBI (Prohibition of Insider Trading) Regulations. Pledges and releases are not trades and are not counted above.

    Company announcements

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Intimation of Conference Call under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

    Company UpdatePrice-sensitive
    Announcement under Regulation 30 (LODR)-Acquisition

    Disclosure under regulation 30 of SEBI (LODR) Regulations, 2015

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Press release on proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited

    Company UpdatePrice-sensitive
    Announcement under Regulation 30 (LODR)-Credit Rating

    Intimation under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

    Others
    Rumour verification - Regulation 30(11)

    Clarification under regulation 30 (11) of SEBI (LODR) Regulations, 2015 on news items appearing in "Mainstream Media"

    Company UpdatePrice-sensitive
    Clarification sought from Solar Industries India Ltd

    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 ....

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Submission of Newspaper Clippings for the unaudited financial results for the quarter ended on June 30, 2026

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Updates on Unaudited Financial Results (Standalone and Consolidated) of the Company for the Quarter Ended on June 30, 2026.

    Company Update
    Announcement under Regulation 30 (LODR)-Investor Presentation

    Presentation on Unaudited Financial Results for the Quarter Ended on June 30, 2026

    Result
    Unaudited Financial Results For The Quarter Ending On June 30, 2026

    Unaudited Financial Results for the Quarter ending on June 30, 2026

    Board Meeting
    Board Meeting Outcome for Outcome Of Board Meeting Dated August 13, 2026

    Outcome of Board Meeting dated August 13, 2026

    AGM/EGMPrice-sensitive
    Disclosures Of The Voting Results And Scrutiniser'S Report Of The 31 St Annual General Meeting Of Solar Industries India Limited Held On Tuesday, August 11, 2026, Through Video Conferencing / Other Audio Visual Means ('VC/OAVM').

    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)

    AGM/EGMPrice-sensitive
    Shareholder Meeting / Postal Ballot-Outcome of AGM

    Summary of Proceedings of 31st Annual General Meeting of the Company.

    Board MeetingPrice-sensitive
    Board Meeting Intimation for The Meeting Of Board Of Directors.

    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 ....

    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 2025
      Read on SEBI
    • Order

      Exemption Order under Regulation 11 of SEBI (SAST) Regulations, 2011 in the matter of Solar Industries India Limited

      21 Mar 2025
      Read on SEBI

    Documents

    Annual reports

    Earnings calls

    Credit ratings

    Documents open at BSE or the rating agency that issued them.

    Sourced from the company's NSE XBRL filing dated 6 Feb 2025 (unaudited). View the source filing. Figures are as filed and are not investment advice.