Solar Industries India Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 32.6%)
- Efficient capital deployment (ROCE 38.1%)
- Low debt relative to equity (D/E 0.2x)
Concerns
- Premium to sector peers (P/E 83.4x vs industry 37x)
- High premium to book value (P/B 27.7x)
Today's Price Action
The stock closed at ₹19,240 with zero percent change, matching the previous close and showing no intraday drift. Trading volume stood at 1,13,725 shares, exactly equal to the 20‑day average, indicating neutral participation without any atypical buying or selling pressure.
Valuation Snapshot
Solar Industries India Limited trades at a price‑to‑earnings multiple of 83.4, while the chemicals sector average P/E is not applicable, highlighting a valuation that is considerably higher than typical sector baselines. A price‑to‑book ratio of 0 combined with a return on equity of 32.6% reflects high profitability relative to its balance sheet and suggests efficient capital utilisation.
Key Levels to Watch
The current price lies roughly 15 % below the 52‑week high of ₹22,700 and about 65 % above the 52‑week low of ₹11,641, suggesting ample room on both sides for potential price movement. Open‑interest data does not disclose significant concentration points, but the proximity to the upper band may act as a psychological ceiling that traders often monitor for short‑term reversals.
Chart Pattern
In the daily chart, a bullish harami and a tweezer bottom appeared three days ago, while a hammer formed seven days ago, each on the one‑day timeframe. These candlesticks are typical reversal signals that suggest a weakening of prior down‑trend momentum and may indicate an emerging shift in market sentiment.
Data Summary
Key metrics show a market capitalisation reported as zero crore, a P/E of 83.4, and a P/B of zero, collectively painting a picture of a highly leveraged but profit‑rich entity. The stock’s recent price action, volume stability, and high ROE constitute the most salient quantitative observations, providing a concise snapshot of its current financial and market profile.
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| PIDILITIND Pidilite Industries Limited | ₹1,390 | ₹1.5L Cr | 57.2 | 13.11 | 23.9 | 31 | 0.05 |
| SRF SRF Limited | ₹2,350 | ₹68K Cr | 29 | 4.55 | 14.3 | 14.6 | 0.35 |
| COROMANDEL Coromandel International Limited | ₹— | ₹51K Cr | 27.1 | 4.12 | 16.4 | 22 | 0.11 |
| LINDEINDIA Linde India Limited | ₹— | ₹49K Cr | 89.3 | 15.49 | 13.6 | 18.2 | 0.02 |
| FLUOROCHEM Gujarat Fluorochemicals Limited | ₹— | ₹47K Cr | 75.3 | 5.25 | 7.82 | 9.64 | 0.29 |
| FACT Fertilizers and Chemicals Travancore Limited | ₹— | ₹43K Cr | 2,930 | 41 | 1.61 | 8.65 | 2.79 |
| UPL UPL Limited | ₹536 | ₹43K Cr | 21.7 | 1.31 | 5.64 | 10.1 | 0.94 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
SOLARINDS · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% |
| FII | 5.90% | 6.10% | 7.56% | 7.53% | 7.23% | 5.82% |
| DII | 15.05% | 14.52% | 12.74% | 12.68% | 12.78% | 14.10% |
| Public | 5.88% | 6.22% | 6.54% | 6.64% | 6.82% | 6.92% |
Corporate Events
Dividend - Rs 11 Per Share
To consider and approve the financial results for the period ended March 31, 2026 and dividend
Annual General Meeting/Dividend - Rs 10 Per Share
Annual General Meeting/Dividend - Rs 8.50 Per Share
Annual General Meeting/Dividend - Rs 8 Per Share
Latest News
All newsSavita Oil sees spurt in trading volume
*Savita Oil sees spurt in trading volume* — Savita Oil Technologies witnessed a significant surge in trading volume on the NSE. The exchange queried the company for disclosures amid unusual activity. The firm has responded with requested information to safeguard investor interests. No material event was disclosed. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Volume
Solar Industries reports Q1 standalone and consolidated results
*Solar Industries reports Q1 standalone and consolidated results*. The company released unaudited financial results for the quarter ended June 30, 2026. Key figures include revenue of **₹1,842.3 Cr** and net profit of **₹167.5 Cr**. Margins improved YoY due to higher operating efficiency and cost optimization. The stock rose **4.2%** on the announcement. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Earnings
Solar Industries reports Q1 FY26 financial results
*Solar Industries reports Q1 FY26 financial results.* The company has announced its financial performance for the quarter ended June 30, 2026. Results were in line with market expectations, with revenue at **₹1,842 crore** and net profit at **₹198 crore**. Operational performance remained stable, driven by continued demand in defence and mining sectors. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Earnings
Solar Industries wins ₹10.76 billion defense order
*Solar Industries wins ₹10.76 billion defense order*\nSolar Industries India Ltd has secured a major order worth **₹10.76 billion** from a defense customer. The order is expected to boost revenue and profitability in the coming fiscal year. This win reinforces the company’s dominance in the defense explosives sector.\n\n📊 *STOCKS:* SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #order
Acme wins 300 MW solar power contract from SECI
*Acme wins 300 MW solar power contract from SECI*. **300 MW** capacity secured under SECI’s 1500 MW assured peak power tender. The win strengthens Acme’s project pipeline in renewable energy. Contract reflects growing government focus on solar infrastructure. 📊 *STOCKS:* $ACMESOLAR | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Solar
Solar Industries announces key corporate updates for June 30, 2026
*Solar Industries announces key corporate updates for June 30, 2026.* The company filed disclosures with the NSE regarding internal restructuring and board committee changes. While no financial figures were disclosed, the updates suggest strategic realignment. Traders may monitor for potential follow-up announcements. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #CorporateUpdate
Solex Energy secures new solar project orders
*Solex Energy secures new solar project orders* with contract wins totaling **₹120 crore**. The orders are expected to be executed within **12–14 months**. This strengthens the company’s near-term revenue visibility in the renewable energy space. 📊 *STOCKS:* $SOLARIND | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Orders
Solar Industries to host analyst meet for updates.
*Solar Industries to host analyst and institutional investor meet.* The event aims to provide updates on company performance and strategy. No financial numbers or major announcements were disclosed. It is part of routine investor engagement. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #AnalystMeet
Solar Industries unit buys stake in Sivasakthi Explosives
*Solar Industries unit buys stake in Sivasakthi Explosives*. The company's subsidiary has entered into a share purchase agreement with Sivasakthi Industrial Explosives. Terms and acquisition size not disclosed. Transaction aims to strengthen presence in industrial explosives segment. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* Corporate | #MEDIUMIMPACT #MergersAcquisitions
MOFSL initiates BUY on Solar Ind, stock up 4%
*MOFSL initiates BUY on Solar Ind, stock up 4%* Solar Industries India reversed a five-day losing streak, rising **4%** as Morgan Stanley Financial Services (MOFSL) initiated a BUY rating. The move signals renewed analyst confidence despite recent price weakness. Investors are reacting positively to the fresh positive stance from the brokerage. 📊 *STOCKS:* $SOLARINDS | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Brokerage
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2.5K Cr 22.4% | ₹2.1K Cr 3.3% | ₹2.2K Cr 0.6% | ₹2.2K Cr 9.8% | ₹2.0K Cr 15.0% | ₹1.7K Cr 1.8% | ₹1.7K Cr 4.6% | ₹1.6K Cr |
| Op. Profit | ₹708 Cr 28.3% | ₹552 Cr 3.2% | ₹535 Cr 0.4% | ₹537 Cr 1.9% | ₹527 Cr 18.4% | ₹445 Cr 0.9% | ₹449 Cr 26.8% | ₹354 Cr |
| OPM | 28.0% 7.7% | 26.0% 4.0% | 25.0% 0.0% | 25.0% 7.4% | 27.0% 3.8% | 26.0% 3.7% | 27.0% 22.7% | 22.0% |
| Net Profit | ₹467 Cr 29.4% | ₹361 Cr 2.3% | ₹353 Cr 2.0% | ₹346 Cr 2.4% | ₹338 Cr 11.2% | ₹304 Cr 1.0% | ₹301 Cr 23.9% | ₹243 Cr |
| EPS (₹) | 49.31 29.4% | 38.12 1.8% | 37.43 5.1% | 35.61 2.3% | 34.8 10.2% | 31.59 0.2% | 31.66 21.9% | 25.98 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹9.8K Cr 30.5% | ₹7.5K Cr 24.2% | ₹6.1K Cr 12.3% | ₹6.9K Cr 75.2% | ₹3.9K Cr 56.9% | ₹2.5K Cr 12.5% | ₹2.2K Cr 9.1% | ₹2.5K Cr 28.5% | ₹1.9K Cr 21.3% | ₹1.6K Cr |
| Expenses | ₹7.1K Cr 29.1% | ₹5.5K Cr 20.2% | ₹4.6K Cr 17.8% | ₹5.6K Cr 74.5% | ₹3.2K Cr 59.9% | ₹2.0K Cr 11.0% | ₹1.8K Cr 8.0% | ₹2.0K Cr 30.2% | ₹1.5K Cr 19.8% | ₹1.3K Cr |
| Op. Profit | ₹2.7K Cr 34.1% | ₹2.0K Cr 36.7% | ₹1.5K Cr 10.9% | ₹1.3K Cr 78.6% | ₹748 Cr 45.2% | ₹515 Cr 18.7% | ₹434 Cr 13.5% | ₹502 Cr 21.8% | ₹412 Cr 27.2% | ₹324 Cr |
| OPM | 28.0% 3.7% | 27.0% 12.5% | 24.0% 26.3% | 19.0% 0.0% | 19.0% 5.0% | 20.0% 5.3% | 19.0% 5.0% | 20.0% 4.8% | 21.0% 5.0% | 20.0% |
| Other Income | ₹33 Cr 230.0% | ₹10 Cr 114.7% | ₹-68 Cr 325.0% | ₹-16 Cr 184.2% | ₹19 Cr 9.5% | ₹21 Cr 48.8% | ₹41 Cr 355.6% | ₹9 Cr 25.0% | ₹12 Cr 7.7% | ₹13 Cr |
| Interest | ₹134 Cr 15.5% | ₹116 Cr 6.4% | ₹109 Cr 21.1% | ₹90 Cr 80.0% | ₹50 Cr 11.1% | ₹45 Cr 18.2% | ₹55 Cr 10.0% | ₹50 Cr 51.5% | ₹33 Cr 22.2% | ₹27 Cr |
| Depreciation | ₹251 Cr 37.9% | ₹182 Cr 27.3% | ₹143 Cr 11.7% | ₹128 Cr 17.4% | ₹109 Cr 16.0% | ₹94 Cr 10.6% | ₹85 Cr 44.1% | ₹59 Cr 15.7% | ₹51 Cr 30.8% | ₹39 Cr |
| PBT | ₹2.4K Cr 36.0% | ₹1.7K Cr 49.8% | ₹1.2K Cr 5.4% | ₹1.1K Cr 81.5% | ₹607 Cr 52.9% | ₹397 Cr 18.2% | ₹336 Cr 16.4% | ₹402 Cr 18.2% | ₹340 Cr 25.5% | ₹271 Cr |
| Tax % | 27.0% 3.8% | 26.0% 4.0% | 25.0% 3.8% | 26.0% 4.0% | 25.0% 7.4% | 27.0% 58.8% | 17.0% 45.2% | 31.0% 0.0% | 31.0% 10.7% | 28.0% |
| Net Profit | ₹1.7K Cr 34.9% | ₹1.3K Cr 47.2% | ₹875 Cr 7.9% | ₹811 Cr 78.2% | ₹455 Cr 58.0% | ₹288 Cr 3.2% | ₹279 Cr 0.7% | ₹277 Cr 18.4% | ₹234 Cr 20.0% | ₹195 Cr |
| EPS (₹) | 185.38 38.7% | 133.65 44.7% | 92.38 10.4% | 83.68 71.6% | 48.77 59.7% | 30.54 3.4% | 29.55 2.2% | 28.91 18.6% | 24.37 18.2% | 20.61 |
| Div Payout | 6.0% 14.3% | 7.0% 22.2% | 9.0% 10.0% | 10.0% 33.3% | 15.0% 25.0% | 20.0% 0.0% | 20.0% 16.7% | 24.0% 4.0% | 25.0% 4.2% | 24.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
Liabilities | ||||||||||
| Equity Capital | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr 0.0% | ₹18 Cr |
| Reserves | ₹5.1K Cr 16.0% | ₹4.4K Cr 33.7% | ₹3.3K Cr 26.9% | ₹2.6K Cr 36.7% | ₹1.9K Cr 21.5% | ₹1.6K Cr 14.6% | ₹1.4K Cr 11.6% | ₹1.2K Cr 14.4% | ₹1.1K Cr 17.1% | ₹910 Cr |
| Borrowings | ₹876 Cr 10.2% | ₹975 Cr 14.3% | ₹1.1K Cr 4.8% | ₹1.2K Cr 34.6% | ₹888 Cr 9.9% | ₹808 Cr 14.1% | ₹708 Cr 17.4% | ₹603 Cr 16.4% | ₹518 Cr 3.4% | ₹501 Cr |
| Other Liabilities | ₹3.0K Cr 9.8% | ₹2.8K Cr 142.9% | ₹1.1K Cr 2.7% | ₹1.1K Cr 33.5% | ₹827 Cr 44.6% | ₹572 Cr 45.5% | ₹393 Cr 4.4% | ₹411 Cr 6.2% | ₹387 Cr 32.5% | ₹292 Cr |
| Total Liabilities | ₹9.0K Cr 10.7% | ₹8.1K Cr 46.0% | ₹5.6K Cr 13.6% | ₹4.9K Cr 35.3% | ₹3.6K Cr 22.6% | ₹3.0K Cr 19.3% | ₹2.5K Cr 10.1% | ₹2.3K Cr 13.3% | ₹2.0K Cr 15.4% | ₹1.7K Cr |
Assets | ||||||||||
| Fixed Assets | ₹3.2K Cr 18.7% | ₹2.7K Cr 34.6% | ₹2.0K Cr 19.2% | ₹1.7K Cr 14.0% | ₹1.5K Cr 15.9% | ₹1.3K Cr 6.5% | ₹1.2K Cr 15.9% | ₹1.0K Cr 13.0% | ₹923 Cr 18.8% | ₹777 Cr |
| CWIP | ₹790 Cr 11.7% | ₹707 Cr 44.3% | ₹490 Cr 73.8% | ₹282 Cr 22.6% | ₹230 Cr 21.5% | ₹293 Cr 77.6% | ₹165 Cr 7.3% | ₹178 Cr 66.4% | ₹107 Cr 17.6% | ₹91 Cr |
| Investments | ₹278 Cr 58.9% | ₹676 Cr 82.7% | ₹370 Cr 273.7% | ₹99 Cr 450.0% | ₹18 Cr 1700.0% | ₹1 Cr 50.0% | ₹2 Cr 93.9% | ₹33 Cr 94.1% | ₹17 Cr 67.9% | ₹53 Cr |
| Other Assets | ₹4.7K Cr 16.8% | ₹4.0K Cr 49.8% | ₹2.7K Cr 4.8% | ₹2.8K Cr 49.7% | ₹1.9K Cr 37.0% | ₹1.4K Cr 24.7% | ₹1.1K Cr 10.5% | ₹1.0K Cr 6.4% | ₹940 Cr 17.4% | ₹801 Cr |
| Total Assets | ₹9.0K Cr 10.7% | ₹8.1K Cr 46.0% | ₹5.6K Cr 13.6% | ₹4.9K Cr 35.3% | ₹3.6K Cr 22.6% | ₹3.0K Cr 19.3% | ₹2.5K Cr 10.1% | ₹2.3K Cr 13.3% | ₹2.0K Cr 15.4% | ₹1.7K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹2.5K Cr 75.5% | ₹1.4K Cr 114.3% | ₹656 Cr 120.1% | ₹298 Cr 16.5% | ₹357 Cr 9.8% | ₹325 Cr 3.5% | ₹314 Cr 23.6% | ₹254 Cr 115.3% | ₹118 Cr 51.4% | ₹243 Cr |
| Investing CF | ₹-1.7K Cr 62.4% | ₹-1.0K Cr 66.4% | ₹-614 Cr 81.7% | ₹-338 Cr 33.6% | ₹-253 Cr 2.7% | ₹-260 Cr 2.4% | ₹-254 Cr 46.0% | ₹-174 Cr 2.4% | ₹-170 Cr 20.6% | ₹-141 Cr |
| Financing CF | ₹-476 Cr 28.6% | ₹-370 Cr 413.6% | ₹118 Cr 362.2% | ₹-45 Cr 73.1% | ₹-26 Cr 23.5% | ₹-34 Cr 34.6% | ₹-52 Cr 1.9% | ₹-53 Cr 200.0% | ₹53 Cr 157.6% | ₹-92 Cr |
| Net Cash Flow | ₹331 Cr 2264.3% | ₹14 Cr 91.3% | ₹160 Cr 288.2% | ₹-85 Cr 210.4% | ₹77 Cr 140.6% | ₹32 Cr 255.6% | ₹9 Cr 66.7% | ₹27 Cr | ₹0 Cr 100.0% | ₹11 Cr |
| Free Cash Flow | ₹1.5K Cr 70.9% | ₹858 Cr 368.9% | ₹183 Cr 976.5% | ₹17 Cr 82.3% | ₹96 Cr 10.3% | ₹87 Cr 35.9% | ₹64 Cr 106.5% | ₹31 Cr 155.4% | ₹-56 Cr 154.4% | ₹103 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 60d 17.6% | 51d 15.9% | 44d 12.0% | 50d 24.2% | 66d 10.0% | 60d 1.7% | 59d 14.5% | 69d 6.8% | 74d 8.8% | 68d |
| Inventory Days | 95d 2.1% | 97d 5.4% | 92d 18.6% | 113d 5.0% | 119d 20.2% | 99d 33.8% | 74d 7.5% | 80d 9.6% | 73d 9.0% | 67d |
| Days Payable | 45d 21.6% | 37d 9.8% | 41d 43.8% | 73d 6.4% | 78d 69.6% | 46d 7.0% | 43d 12.2% | 49d 36.1% | 36d 20.0% | 45d |
| Cash Conv. Cycle | 110d 0.9% | 111d 16.8% | 95d 5.6% | 90d 16.7% | 108d 4.4% | 113d 25.6% | 90d 10.0% | 100d 9.9% | 111d 23.3% | 90d |
| Working Capital Days | 37d 5.1% | 39d 25.8% | 31d 24.4% | 41d 24.2% | 33d 57.1% | 21d 23.5% | 17d 46.9% | 32d 18.5% | 27d 20.6% | 34d |
| ROCE | 38.0% 18.8% | 32.0% 11.1% | 36.0% 44.0% | 25.0% 31.6% | 19.0% 0.0% | 19.0% 26.9% | 26.0% 8.3% | 24.0% 9.1% | 22.0% 4.3% | 23.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Solar Industries India Limited
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]
ChemicalsChemicals & Petrochemicals