NSE: SOLARINDS · BSE: 532725 · ISIN INE343H01029
Solar Industries India Limited stock analysis
Solar Industries India Limited ranks #119 in the TickerSutra evidence-ranked universe with a score of 72/100 and 95% data confidence. The latest captured fundamentals show ROCE of 38.1%, quarterly sales growth of 70.3% and quarterly profit growth of 92.7%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 38.1%
- Low debt/equity of 0.24×
- CWIP indicates an active capacity pipeline
Risks and constraints
- CFO/EBITDA is below 0.6×
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹3,948cr | ₹748cr | ₹455cr | 19.0% |
| 2023 | ₹6,918cr | ₹1,336cr | ₹811cr | 19.0% |
| 2024 | ₹6,070cr | ₹1,482cr | ₹875cr | 24.0% |
| 2025 | ₹7,540cr | ₹2,026cr | ₹1,288cr | 27.0% |
| 2026 | ₹9,838cr | ₹2,717cr | ₹1,737cr | 28.0% |
| TTM | ₹11,351cr | ₹3,101cr | ₹2,050cr | 27.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Solar Industries India Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineCredit RatingNSE · 23 Sept 2026Solar Industries India Limited has informed the Exchange about Credit Rating
RoutineSolar Industries India Ltd - 532725 - Announcement under Regulation 30 (LODR)-Credit RatingBSE · 22 Sept 2026Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015-Credit Rating
RoutineSolar Industries India Ltd - 532725 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBSE · 14 Sept 2026Intimation of Conference Call under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Positive CatalystPress ReleaseBSE · 14 Sept 2026Solar Industries India Limited has informed the Exchange regarding a press release dated September 14, 2026, titled "Press release on proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited".
MANAGEMENT COMMENTARY
Signals from filed documents
But it will be very difficult for us to give any trajectory specifically in numbers of how much multiple we can grow, or how much times we can grow from this base. But I feel that since international markets are grow ing at 2% to 3%, but we expect that volume terms, we should be able to grow comfortably at aro und 10%. And in value terms, we should grow at around 15%.
Again, can we expect closer to 2, 3x kind of jump in terms of top line for our export business? And to achieve these kind of growt h opportunities, what kind of investment that we can expect from you in terms of medium term, both on capacity expansion as well as on client traction side? Yes, you are right that i f you look at 2015 number, the export and overseas was around INR400 crores, and that has rea ched to almo
If you look at the 3, 4 years back period, when the raw material prices has increased by 50%, 60%, 70%, at those times, our EBITDA margins went down by around 2% to 3%. So this time, we are confident that we should be able to manage t his situation with the help of improved defense as well as international business. Solar Industries India Limited May 15, 2026 Page 11 of 12 Bharat Shah: Sure.
Sanjeev Zarbade And sir, my second question was regarding the impact of the commodity prices. And of course, we have taken some price increases. So -- and I thi nk from our past interactions, I think the benefit of price increase comes with a lag.
Vikas Singh: Congratulations on a very good set of numbers despite challenges. Sir, my first question pertains to since our defense mix is improving in the overall sales, while we are still getting the guidance -- margin guidance kind of an impact versus last year. So is it some of the items where the cost inflation pass on would be difficult and that's why overall margins has failed?
Sir, my second question pertains to the domestic explosive market. Obviously, we have added a lot of capacities and eyeing a market share gain. Is it basically through the new products because segments remain the same or the user industries are limited in a way, and none of them are growing at 10% or 12%.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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