Solar Industries India (SOLARINDS) Stock Overview
Manufactures and sells industrial explosives, explosive initiating devices, and high energy materials for mining and defense applications in India and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 5/6 |
| Past Performance | 6/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
No risks detected for SOLARINDS from our risk checks.
SOLARINDS Community Fair Values
Create NarrativeSee what 42 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Solar Industries India Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹19,900.00 |
| 52 Week High | ₹20,422.00 |
| 52 Week Low | ₹11,646.00 |
| Beta | 0.24 |
| 1 Month Change | 6.87% |
| 3 Month Change | 9.75% |
| 1 Year Change | 34.05% |
| 3 Year Change | 332.85% |
| 5 Year Change | 1,054.13% |
| Change since IPO | 37,503.93% |
Recent News & Updates
Analysis Article • Aug 16
Solar Industries India Limited Just Beat Revenue By 26%: Here's What Analysts Think Will Happen Next
A week ago, Solar Industries India Limited ( NSE:SOLARINDS ) came out with a strong set of first-quarter numbers that...
Narrative Update • Aug 14
SOLARINDS: Defence Orders And Dividend Will Support Measured Future Upside
Analysts have lifted their price target on Solar Industries India from ₹19,375.62 to ₹20,576.00, citing updated assumptions around slightly lower revenue growth, a modestly higher profit margin, a small change in the future P/E multiple, and a marginally adjusted discount rate. What's in the News Solar Industries India approved an alteration of its Articles of Association at the AGM held on 12 August 2026.
New Narrative • Jul 24
Rising Capex And Defense Execution Risks Will Pressure Margins And Future Returns
Catalysts About Solar Industries India Solar Industries India manufactures explosives and related energetic products for mining, infrastructure and defense customers in India and overseas markets. What are the underlying business or industry changes driving this perspective?Recent updates
Analysis Article • Aug 16
Solar Industries India Limited Just Beat Revenue By 26%: Here's What Analysts Think Will Happen Next
A week ago, Solar Industries India Limited ( NSE:SOLARINDS ) came out with a strong set of first-quarter numbers that...Narrative Update • Aug 14
SOLARINDS: Defence Orders And Dividend Will Support Measured Future Upside
Analysts have lifted their price target on Solar Industries India from ₹19,375.62 to ₹20,576.00, citing updated assumptions around slightly lower revenue growth, a modestly higher profit margin, a small change in the future P/E multiple, and a marginally adjusted discount rate. What's in the News Solar Industries India approved an alteration of its Articles of Association at the AGM held on 12 August 2026.New Narrative • Jul 24
Rising Capex And Defense Execution Risks Will Pressure Margins And Future Returns
Catalysts About Solar Industries India Solar Industries India manufactures explosives and related energetic products for mining, infrastructure and defense customers in India and overseas markets. What are the underlying business or industry changes driving this perspective?
New Narrative • Jul 09
Defense Capacity Expansion And Global Reach Will Drive A Stronger Long Term Story
Catalysts About Solar Industries India Solar Industries India manufactures explosives and related energetic products for mining, infrastructure, international markets and defense applications. What are the underlying business or industry changes driving this perspective?Narrative Update • Jul 09
SOLARINDS: Defence Exports And Dividend Will Drive Future Upside Potential
Analysts have revised their fair value estimate for Solar Industries India from ₹20,131.92 to ₹19,375.62, citing updated assumptions for revenue growth, profit margins and future P/E multiples. What’s in the News for Solar Industries India Solar Industries India and a subsidiary received export orders worth ₹10,760 million for supplying defence products to international clients, with deliveries scheduled over 3 years.Narrative Update • Jun 24
SOLARINDS: Defence Export Wins Will Support Dividend And Upside Potential
Analysts have kept their fair value estimate for Solar Industries India steady at ₹20,131.92 per share, making only a minor adjustment to the discount rate and long term P/E assumptions. This reflects fine tuning of their models rather than a shift in overall conviction on the stock.Narrative Update • Jun 03
SOLARINDS: Defence Export Orders And Dividend Outlook Will Support Fair Value
Analysts have raised the price target for Solar Industries India to about ₹20,132 from roughly ₹16,697, citing updated assumptions that include a lower discount rate, slightly different expectations for revenue growth, higher profit margin forecasts, and a modestly reduced future P/E multiple. What's in the News Solar Industries India and its subsidiary received export orders worth ₹10,760 million for supply of defence products to international clients, with deliveries scheduled over 3 years.Analysis Article • May 23
Solar Industries India's (NSE:SOLARINDS) Promising Earnings May Rest On Soft Foundations
Unsurprisingly, Solar Industries India Limited's ( NSE:SOLARINDS ) stock price was strong on the back of its healthy...Analysis Article • May 18
Party Time: Brokers Just Made Major Increases To Their Solar Industries India Limited (NSE:SOLARINDS) Earnings Forecasts
Solar Industries India Limited ( NSE:SOLARINDS ) shareholders will have a reason to smile today, with the analysts...Narrative Update • Apr 25
SOLARINDS: Defence Export Orders Will Support Multi Year Fairly Valued Outlook
Analysts have maintained their fair value estimate for Solar Industries India at ₹16,696.67. They have made only minor adjustments to assumptions on the discount rate, revenue growth, profit margin and future P/E to reflect updated modeling rather than a change in overall conviction.Narrative Update • Apr 11
SOLARINDS: Defence Export Contracts Will Sustain Multi Year Upside Potential
Analysts maintained their fair value estimate for Solar Industries India at ₹16,696.67, with only minor adjustments to assumptions on discount rate, revenue growth, profit margin, and future P/E, resulting in a largely unchanged price target narrative. What's in the News Solar Industries India and its subsidiary received export orders worth INR 8,300 million for defence products, with deliveries scheduled over 4 years under international contracts governed by specific defence supply terms (company announcement).Narrative Update • Mar 27
SOLARINDS: Defence Export Contracts Will Sustain Multi Year Upside Potential
Analysts keep their price target for Solar Industries India broadly unchanged at about ₹16,696, reflecting almost identical assumptions on discount rate, revenue growth, profit margin and future P/E, and indicating that their core valuation view remains steady. What's in the News Solar Industries India and its subsidiary received export orders worth ₹8,300 million for defence products, with deliveries planned over 4 years under international contracts with significant terms and conditions for defence supplies (company announcement).Narrative Update • Mar 13
SOLARINDS: Defence Export Orders Will Drive Multi Year Upside Potential
Analysts have kept their fair value estimate for Solar Industries India steady at ₹16,696.67 per share, with only small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions supporting the unchanged price target. What's in the News Solar Industries India and its subsidiary received export orders worth ₹8,300 million for defence products, with execution scheduled over four years under international contracts with significant terms and conditions for defence supplies to overseas clients (Key Developments).Narrative Update • Feb 26
SOLARINDS: Defence Export Pipeline Will Support Multi Year Upside
Analysts have trimmed their fair value estimate for Solar Industries India from ₹17,167 to about ₹16,697, reflecting updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples. What's in the News Solar Industries India and its subsidiary received international export orders for defence products worth about ₹8,300 million, with execution scheduled over four years, governed by standard terms for cross border defence supplies (company client announcement).Analysis Article • Feb 06
Results: Solar Industries India Limited Beat Earnings Expectations And Analysts Now Have New Forecasts
The quarterly results for Solar Industries India Limited ( NSE:SOLARINDS ) were released last week, making it a good...Analysis Article • Jan 31
Investors Still Waiting For A Pull Back In Solar Industries India Limited (NSE:SOLARINDS)
Solar Industries India Limited's ( NSE:SOLARINDS ) price-to-sales (or "P/S") ratio of 14.6x may look like a poor...Narrative Update • Jan 26
SOLARINDS: Defence Export Orders Will Support Multi Year Upside
Narrative Update: Solar Industries India Analyst Price Target Analysts have left their fair value estimate for Solar Industries India unchanged at ₹17,167, with small tweaks to assumptions such as the discount rate and future P/E, reflecting only minor model refinements rather than a shift in overall view. What's in the News Solar Industries India and its subsidiary received export orders worth ₹14,000 million for supply of defence products, to be delivered over 4 years, from international clients (Key Developments).Narrative Update • Jan 12
SOLARINDS: Defence Export Orders Will Support Multi Year Upside
Analysts have nudged their fair value estimate for Solar Industries India slightly higher to ₹17,167 from ₹17,146, reflecting updated assumptions regarding the discount rate, long-term revenue growth, profit margins, and future P/E multiples. What's in the News Solar Industries India and its subsidiary received export orders worth ₹14,000 million for defence products, with deliveries scheduled over 4 years to international clients (company announcement).Analysis Article • Dec 26
We Think Solar Industries India (NSE:SOLARINDS) Might Have The DNA Of A Multi-Bagger
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Narrative Update • Dec 15
SOLARINDS: Export Wins And Defence Orders Will Drive Multi Year Upside
Analysts have marginally raised their price target on Solar Industries India by maintaining a fair value estimate of ₹17,146.29, while fine tuning assumptions on discount rate, revenue growth, profit margin, and future P/E to reflect a slightly improved long term risk reward profile. What's in the News Secured export orders worth INR 14,000 million for defence products from international clients, to be executed over four years (Key Developments) Received a major domestic order of INR 4,830 million for supply of bulk explosives to SECL, a subsidiary of Coal India Limited, with a two-year delivery schedule (Key Developments) Scheduled a board meeting on November 10, 2025, to review unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, and to approve a postal ballot notice (Key Developments) Plans to seek shareholder approval via postal ballot for appointing Smt.Analysis Article • Dec 05
Here's Why Solar Industries India (NSE:SOLARINDS) Can Manage Its Debt Responsibly
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Narrative Update • Nov 28
SOLARINDS: Export Orders Will Drive Positive Momentum Over The Next Four Years
Analysts have marginally raised their price target for Solar Industries India from ₹17,105.83 to ₹17,146.29. This reflects slight adjustments in expected revenue growth and a lower discount rate.Analysis Article • Nov 13
Solar Industries India Limited Just Missed EPS By 11%: Here's What Analysts Think Will Happen Next
It's been a good week for Solar Industries India Limited ( NSE:SOLARINDS ) shareholders, because the company has just...Analysis Article • Nov 12
Should You Be Adding Solar Industries India (NSE:SOLARINDS) To Your Watchlist Today?
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Nov 02
SOLARINDS: New Bulk Explosives Order Will Drive Future Revenue Momentum
Analysts have maintained their fair value estimate for Solar Industries India at ₹17,105.83. They cited minor methodological updates, which resulted in negligible changes to underlying assumptions.Narrative Update • Oct 18
International Expansion Will Reshape Global Defense Manufacturing
Analysts have maintained a fair value estimate of ₹17,105.83 for Solar Industries India. They note subtle adjustments in discount rate, revenue growth, and profit margin projections to reflect the latest industry outlook.Analysis Article • Oct 18
Solar Industries India Limited's (NSE:SOLARINDS) Price In Tune With Revenues
Solar Industries India Limited's ( NSE:SOLARINDS ) price-to-sales (or "P/S") ratio of 15.9x may look like a poor...Narrative Update • Oct 04
International Expansion Will Reshape Global Defense Manufacturing
Solar Industries India’s analyst price target has been raised by analysts from ₹16,884 to ₹17,106. This reflects a slight increase based on updated estimates of profit margins and valuation multiples, despite marginally slower projected revenue growth.Narrative Update • Sep 04
International Expansion Will Reshape Global Defense Manufacturing
With no new analyst reasoning provided, both the discount rate (13.46%) and revenue growth forecast (28.1% per annum) for Solar Industries India remained steady, resulting in a consensus analyst price target that is unchanged at ₹16,884. What's in the News Board meeting scheduled to consider and approve Q1 FY26 unaudited standalone and consolidated financial results.
New Narrative • Nov 20
Tactical Global Expansion And Defense Innovation Fuel Dynamic Growth Path
Significant growth expected from Indian defense contracts and international expansion, enhancing revenue stability and growth.Shareholder Returns
| SOLARINDS | IN Chemicals | IN Market | |
|---|---|---|---|
| 7D | -0.3% | -1.4% | -0.2% |
| 1Y | 34.1% | -1.1% | 2.4% |
Return vs Industry: SOLARINDS exceeded the Indian Chemicals industry which returned -1.1% over the past year.
Return vs Market: SOLARINDS exceeded the Indian Market which returned 2.4% over the past year.
Price Volatility
| SOLARINDS volatility | |
|---|---|
| SOLARINDS Average Weekly Movement | 4.6% |
| Chemicals Industry Average Movement | 5.9% |
| Market Average Movement | 5.9% |
| 10% most volatile stocks in IN Market | 9.0% |
| 10% least volatile stocks in IN Market | 3.6% |
Stable Share Price: SOLARINDS has not had significant price volatility in the past 3 months compared to the Indian market.
Volatility Over Time: SOLARINDS's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1995 | 2,351 | Manish Nuwal | solargroup.com |
Solar Industries India Limited, together with its subsidiaries, manufactures and sells industrial explosives, explosive initiating devices, and high energy materials for mining and defense applications in India and internationally. The company offers industrial explosives comprising bulk, packaged, non-permitted, permitted, and seismic explosives; initiating systems; electronic, non-electric, and plain detonators; cord relays; cast boosters; detonating cords; and aluminum elemented det products. It also provides defense products consisting of high energy materials, such as HMX, RDX, TNT, and their compounds; composite, single base, double base, and triple base propellants; complete integration of rockets; ammunitions, including multi-mode hand grenades, mines, bombs, warheads, and bund blasting devices; drones and UAVs; pyros and ignitors; propellants for space applications; missiles; and unmanned systems and advanced defense technologies.
Solar Industries India Limited Fundamentals Summary
| SOLARINDS fundamental statistics | |
|---|---|
| Market cap | ₹1.80t |
| Earnings (TTM) | ₹19.91b |
| Revenue (TTM) | ₹113.51b |
90.4x
P/E Ratio15.9x
P/S RatioIs SOLARINDS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| SOLARINDS income statement (TTM) | |
|---|---|
| Revenue | ₹113.51b |
| Cost of Revenue | ₹57.37b |
| Gross Profit | ₹56.14b |
| Other Expenses | ₹36.23b |
| Earnings | ₹19.91b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 220.07 |
| Gross Margin | 49.46% |
| Net Profit Margin | 17.54% |
| Debt/Equity Ratio | 23.3% |
How did SOLARINDS perform over the long term?
See historical performance and comparisonDividends
0.06%
Current Dividend Yield6%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/22 20:01 |
| End of Day Share Price | 2026/08/21 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Solar Industries India Limited is covered by 21 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | 360 ONE Capital Market Private Limited |
| Kavish Parekh | 360 ONE Capital Market Private Limited |
| null null | Anand Rathi Shares and Stock Brokers Limited |