SOLARINDS · Solar Industries India Ltd · Chemical Manufacturing
SOLARINDS · Solar Industries India Ltd · Chemical Manufacturing
As of 05 Nov close
52-week range
18.4% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹3,668 Cr
Revenue YoY
PAT YoY
+92.7%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
29
P/S (TTM)
17.8
Sector P/E
20.6
Dividend yield
+0.1%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| SOLARINDS (this stock) | 85 | 29 | +17.5% | +31.7% | 0.24 | +0.1% |
| Asian Paints | 53 | 11.1 | +12.8% | +22.3% | 0.18 | +1.1% |
| Pidilite Industries | 61.3 | 19.4 | +17.2% | +24.4% | 0.04 | +0.7% |
| SRF | 37.6 | 5.2 | +12.7% | +15.4% | 0.36 | +0.4% |
Promoter
stable
FII
falling 3q
MF
12.25% (+0.32pp)
rising 1q
Insider trades
| Date | Insider | Type | Qty | Value |
|---|---|---|---|---|
| 11 Mar 2026 | Shri Kailash Chandra Nuwal | SELL | 2,08,82,963 | ₹4.18 Cr |
| 11 Mar 2026 | Sohan Devi Nand Lal Nuwal Family Trust | BUY | 2,64,51,193 | ₹5.29 Cr |
| 11 Mar 2026 | Smt. Indira Kailashchandra Nuwal | SELL | 55,68,230 | ₹1.11 Cr |
| 09 Mar 2026 | Shri Kailash Chandra Nuwal | SELL | 2,08,82,963 | ₹4.18 Cr |
| 09 Mar 2026 | Sohan Devi Nand Lal Nuwal Family Trust | BUY | 2,64,51,193 | ₹5.29 Cr |
| 09 Mar 2026 | Smt. Indira Kailashchandra Nuwal | SELL | 55,68,230 | ₹1.11 Cr |
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- highcorporate actionthehindubusinessline.com· 15 Sept 2026, 05:27 pmSolar Industries acquires South Africa’s Omnia Holdings for $1.36 billion
Concalls & investor presentations
AI-generatedKey takeaway: Solar Industries India Limited (SOLARINDS) announced the proposed acquisition of Omnia Holdings Limited, a South African diversified mining and agritech company, during an earnings call on September 15, 2026. Management highlighted the strategic rationale for the acquisition, emphasizing the integration of Omnia's manufacturing infrastructure, including ammonium nitrate production and storage facilities, which would enhance Solar's vertical integration, supply chain resilience, and cost competitiveness. Management expects the acquisition to significantly expand Solar's operations, manufacturing, and distribution capabilities globally, with a focus on Africa and international markets. Management discussed potential synergies, including increased EBITDA margins, revenue growth, and expanded market reach, projecting consolidated revenue of INR30,000-32,000 crores by FY28. Funding for the acquisition would be managed through debt on Omnia's books and internal accruals, with management stating that net debt-to-EBITDA would remain below two times. The acquisition is subject to regulatory and shareholder approvals and management expects it to be completed by FY28. The agritech segment of Omnia was described as a complementary business, adding technology-driven crop nutrition solutions to Solar's portfolio. Management also addressed questions on the impact on Solar's defense business, emphasizing continued investment in that sector, and noted that the acquisition would not dilute focus on defense. The call concluded with management thanking participants and reiterating confidence in the strategic benefits of the acquisition.
The document emphasizes strategic growth, expansion, and synergies from the acquisition, with management expressing confidence in the transaction's benefits.
Sourced from an exchange-filed transcript, dated 17 Sept 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: During the earnings call for the fourth quarter and financial year ended March 31, 2026, management reported record sales of INR3,053 crores for the quarter and INR9,838 crores for the year. They highlighted a significant increase in EBITDA and PAT, achieving INR870 crores and INR556 crores respectively for the quarter, and INR2,750 crores and INR1,737 crores for the year. The defense business saw remarkable growth, with revenues increasing by 134% in Q4 and 94% for the year. Management noted a strong order book of INR21,300 crores and set a revenue goal of INR14,000 crores for FY '27, supported by planned capex of INR2,050 crores. They also proposed a dividend increase to INR11 per share, reflecting confidence in financial health. The call included discussions on international expansion and product development, particularly in defense.
Management emphasized strong financial performance and growth opportunities.
Sourced from an exchange-filed transcript, dated 18 May 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: The investor presentation from Solar Industries India Limited reported audited financial results for the quarter and year ended March 31, 2026. For Q4FY26, the company achieved net sales of Rs. 3,053 crore, a 41% increase from Rs. 2,167 crore in Q4FY25. EBITDA for the quarter was Rs. 870 crore, reflecting a 59% rise year-over-year. The profit before tax (PBT) and profit after tax (PAT) also saw significant increases of 64% and 61%, respectively. For FY26, total net sales reached Rs. 9,838 crore, up 30% from Rs. 7,540 crore in FY25. The presentation highlighted a strong order book status exceeding Rs. 21,300 crore and outlined a capital expenditure plan of Rs. 2,050 crore for FY27. The shareholding structure as of March 31, 2026, indicated a promoter holding of 73.15%.
Management emphasized strong financial growth and a robust order book.
Sourced from an exchange-filed presentation, dated 15 May 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: During the earnings conference call held on February 4, 2026, management reported that Q3 FY26 was the strongest quarter to date for Solar Industries India Limited, with net revenue increasing by 29% year-on-year to Rs. 2548 crores. The company achieved record quarterly EBITDA and profit after tax, growing by 37% and 38% year-on-year, respectively. Management highlighted significant growth in the defence sector, with revenue reaching Rs. 702 crores, a 72% increase, and a total order book of Rs. 21,000 crores. The international business also performed well, crossing Rs. 1000 crores in revenue, up 35% year-on-year. Management expressed confidence in maintaining strong growth driven by innovation and operational discipline, while also acknowledging challenges in the domestic market due to economic conditions. The call concluded with a focus on future growth opportunities in both domestic and international markets.
Management emphasized strong financial performance and growth opportunities.
Sourced from an exchange-filed transcript, dated 09 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedSolar Industries India Limited (SOLARINDS) reported significant business developments in FY2025-26, including becoming the first private-sector company to dispatch Pinaka Enhanced MK-I rockets to the Indian Army and contributing to India’s first High-Speed train project. The company’s Founder Chairman received the Padma Shri for contributions to trade and industry. Financially, the company’s standalone financial statements show accounting profit before tax of ₹1,640.68 crore for FY2026, with a 25.17% income tax rate. The auditor noted key audit matters, including revenue recognition involving estimates of powder factor charges and fair valuation of non-current investments. The company has ongoing disputes with tax authorities, including demands under the Central Excise Act and Goods and Service Tax Act, with amounts pending at various forums. The company has not defaulted on loans or statutory dues, and its internal financial controls are deemed adequate. The auditor confirmed the financial statements are prepared on a going concern basis.
- Achieved national recognition with dispatch of Pinaka Enhanced MK-I rockets to Indian Army and contribution to India’s first High-Speed train project.
- Founder Chairman conferred Padma Shri for contributions to trade and industry.
- Accounting profit before tax for FY2026 was ₹1,640.68 crore with 25.17% income tax rate.
- Key audit matters include revenue recognition estimates and fair valuation of non-current investments.
- Ongoing disputes with tax authorities over excise duty, GST, and other statutory dues, with amounts pending at various forums.
Key takeaway: Solar Industries India Limited demonstrated strong business growth and national recognition in FY2025-26, with robust financial performance and adequate internal controls, though ongoing tax disputes and estimation uncertainties pose notable risks.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Auditor Qualification (1 item); Regulatory Action (2 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Auditor Qualification
1 occurrenceOlder (3+ years ago)
The auditors of Solar Overseas Mauritius Limited (SOML) reported recoverability of deferred tax asset in subsidiary in South Africa as a key audit matter. The subsidiary has incurred significant losses and recognized deferred tax assets of Rs. 72.16 crore as of March 31, 2023.
Regulatory Action
2 occurrencesRecent (last 12 months)
The company paid a fine and filed a waiver/refund application to stock exchanges with SEBI regarding an inadvertent formatting error in disclosure under SEBI (LODR), 2015 regulations.
Older (3+ years ago)
Solar Industries India Limited faced two instances of regulatory issues: delayed submission of disclosure under SEBI (LODR) 2015 for March 31, 2022, and non-compliance with Audit Committee composition norms as per SEBI (LODR) 2015.
Routine disclosures
Contingent Liability
3 occurrencesRecent (last 12 months)
The entity has a contingent liability related to the joint operation with P V Explosives in Thailand, where the company holds 50% ownership, and the entity was under liquidation as of March 31, 2025.
Earlier (1-3 years ago)
The company has contingent liabilities related to contested tax demands and pending judgments for excise, GST, sales tax/VAT, and advance license import/export obligations. No tax expense has been accrued for these claims.
Older (3+ years ago)
The company has contingent liabilities as of March 31, 2023, which are detailed in Note 28 of the financial statements.
Related-Party Transaction
3 occurrencesRecent (last 12 months)
The company has provided guarantees (including SBLC) on behalf of its subsidiary Solar Overseas Mauritius Limited and other related parties such as Solar Mining Services Pty Limited in South Africa and Australia.
Earlier (1-3 years ago)
The company entered into a rent agreement with AG Technologies Private Limited, a related party, which was found to be a violation of the Companies Act, 2013, SEBI regulations, and the company's own related party transaction policy. The transaction was not pre-approved by the audit committee.
Older (3+ years ago)
Mr. Kailash Chandra Nuwal, Executive Director and Vice Chairman, vacated his office due to failure to disclose shareholding and directorship in AG Technologies Private Limited and facilitating a related-party rent agreement without audit committee approval, violating the Companies Act, SEBI regulations, and the company's related party transaction policy.
Statutory dues in dispute
3 occurrencesRecent (last 12 months)
The company has outstanding dues under dispute for excise duty and GST, with amounts related to periods from 2007-2009 to 2024-2025, pending before various authorities including the Tribunal and Commissionerate.
Earlier (1-3 years ago)
Solar Industries India Limited has outstanding statutory dues related to excise duty demands under the Central Excise Act for the periods 2000-2008 and 2007-2009, with disputes pending before the Tribunal.
Older (3+ years ago)
The company has outstanding statutory dues related to excise duty under the Central Excise Act for the periods 2000-2008, 2007-2009, and 2015-2017, with disputes pending before the Tribunal and Commissionerate.
Management & Board Governance
1 occurrenceOlder (3+ years ago)
Shri Nilesh Panpaliya resigned from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company w.e.f. May 14, 2021.
Promoter Share Pledge
1 occurrenceRecent (last 12 months)
3.54% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).