Solar Industries India Ltd Share Price

Aerospace & Defence

NSE: SOLARINDS Large Cap ISIN: INE343H01029

As on 24 November 2025 at 02:42 IST

₹13,886

-65.00

(-0.47%)

Sell Buy

Solar Industries India Q1 FY26 Results:

Net profit rose 18% to ₹339 crores, compared to ₹286.5 crores in Q1 FY25. Total income in Q1 FY26 increased 28% to ₹2,184 crores from ₹1,709 crores in the same period last year.

About Solar Industries India Ltd

Solar Industries India Ltd. is a leading manufacturer of industrial explosives and explosive-initiating devices. The company was initiated in the year 1995, making it an prominent player with multiple decades of experience in the industry. The headquarters of the company is located in Nagpur, Maharashtra, India. Solar Industries' main products include bulk explosives, packaged explosives, and initiating systems. The company also manufactures defense products, including high-energy materials like HMX, RDX, and TNT. Additionally, it offers composite propellants, ammunition, and warheads. Solar Industries falls under the chemicals sector, and it is known for its comprehensive product range. +

Over 1 Month

-0.94%

Over 6 Months

3.43%

Over 1 Year

39.88%

Over 3 Years

253.52%

Solar Industries India Ltd Summary

Close ₹13,951

Open ₹13,875

High ₹14,060

Low ₹13,787

Volume 1,04,582

Net Turnover (in Cr) ₹145.86

52Wk High ₹17,820

52Wk Low ₹8,482.50

52Wk High / Low

8,482.50

17,820

Solar Industries India Ltd Fundamentals

Key Financial Data

Market Cap (in Cr) ₹1,26,242.68

EPS (TTM) 104.53

Book Value (BV) 387.15

Div. Yield 0.07 %

P/E (TTM) 133.40

Price/Book Value 36.02

Delivery % 39.63 %

Face Value 2

Key Ratios

PE Ratio 126.69

PB Ratio 33.17

EV to Sales 22.83

PEG Ratio 3.65

ROA 22.77

ROE 29.67

Debt-Equity 0.10

Net Profit Margin 18.02

Operating Profit Margin 26.50

Solar Industries India Ltd Financials

Consolidated

Standalone

Yearly

Quarterly

Profit and Loss

Particulars (in ₹ Cr.)	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Total Revenue	7,611.09	6,113.99	6,954.05	3,967.27	2,537.05
Total Expenses	5,877.90	4,953.06	5,852.20	3,359.85	2,139.95
Profit Before Tax	1,738.74	1,161.28	1,101.58	607.42	397.10
Profit After Tax	1,287.93	875.23	811.17	455.47	288.07
Operating Profit After Depreciation	1,849.69	1,270.30	1,192.23	657.67	442.49

Balance Sheet

Particulars (in ₹ Cr.)	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Fixed Assets	2,695.61	2,030.15	1,704.46	1,501.97	1,298.04
Total Non Current Assets	4,138.79	3,088.82	2,534.90	2,063.35	1,804.05
Total Current Assets	4,122.53	2,648.38	2,501.35	1,660.95	1,225.66
Total Assets	8,261.32	5,737.20	5,036.25	3,724.30	3,029.71
Total Shareholder's Fund	4,386.34	3,305.60	2,610.34	1,914.28	1,579.41

Cash Flow

Particulars (in ₹ Cr.)	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Net Cash From Operating Activities	2,467.56	1,406.01	656.48	297.80	356.68
Net Cash Used In Investing Activities	-1,659.75	-1,021.79	-614.27	-337.66	-253.24
Net Cash Used In Financing Activities	-476.36	-370.28	118.16	-45.40	-26.07

Profit and Loss

Particulars (in ₹ Cr.)	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Total Revenue	4,540.35	3,775.86	4,218.09	2,564.51	1,610.04
Total Expenses	3,463.06	2,975.81	3,618.01	2,211.49	1,356.82
Profit Before Tax	1,077.29	800.05	600.08	353.02	253.22
Profit After Tax	803.11	596.30	445.39	261.52	189.07
Operating Profit After Depreciation	1,106.22	829.63	627.65	361.87	259.74

Balance Sheet

Particulars (in ₹ Cr.)	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Fixed Assets	1,139.30	813.16	781.67	706.32	560.05
Total Non Current Assets	2,496.92	1,837.39	1,492.53	1,259.48	1,004.71
Total Current Assets	1,938.80	1,397.86	1,276.64	749.60	595.74
Total Assets	4,435.72	3,235.25	2,769.17	2,009.08	1,600.45
Total Shareholder's Fund	3,066.96	2,346.47	1,767.45	1,365.59	1,156.81

Cash Flow

Particulars (in ₹ Cr.)	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Net Cash From Operating Activities	1,053.91	769.70	132.72	294.01	147.77
Net Cash Used In Investing Activities	-691.25	-549.29	-270.73	-280.21	-99.33
Net Cash Used In Financing Activities	-231.81	-216.50	173.04	-36.02	-65.95

Particulars (in ₹ Cr.)	2025-09	2025-06	2025-03	2024-12	2024-09
Total Revenue	2,082.22	2,154.45	2,166.55	1,973.08	1,715.83
Total Expenses	1,530.37	1,619.60	1,629.46	1,446.54	1,271.06
Profit Before Tax	489.52	480.76	464.37	459.11	406.97
Profit After Tax	361.45	352.62	346.11	337.50	303.78
Operating Profit after Depreciation	581.03	564.17	543.64	537.04	480.32

Particulars (in ₹ Cr.)	2025-09	2025-06	2025-03	2024-12	2024-09
Total Revenue	1,125.22	1,387.15	1,299.28	1,207.24	905.49
Total Expenses	835.33	1,011.61	981	917.67	674.37
Profit Before Tax	315.48	375.34	303.98	274.39	238.17
Profit After Tax	234.95	279.52	227.03	204.42	177.46
Operating Profit after Depreciation	346.47	405.21	332.81	301.37	262.76

Solar Industries India Ltd Technicals

Support and Resistance

S3 S2 S1 Pivot R1 R2 R3

S1 13,805.33

S2 13,659.67

S3 13,532.33

Pivot 13,932.67

R1 14,078.33

R2 14,205.67

R3 14,351.33

Moving Average

20 SMA 13,837.10

50 SMA 13,997.90

100 SMA 14,526.33

200 SMA 13,474.60

Solar Industries India Ltd Corporate Actions

Solar Industries India Ltd

₹10.0/Share

Announcement Date 08 Jul 2025

Record Date 08 Jul 2025

Div Yield 500%

AGM Date: 31 Aug 2021

With reference to the captioned subject and pursuant to Regulation 30(2) read with Part A of Schedule III, Regulation 33 and other regulations of the SEBI (Listing Obligations & Disclosure Requirements) 2015, the Board of Directors of the Company at their meeting held on Thursday, May 27, 2021 at 4:30 p.m. at 'Solar' House 14, Kachimet, Amravati Road, Nagpur- 440023 Pursuant to regulation 30 ft 47 of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, please find enclosed copies of the public notice of 26' Annual General Meeting, Remote E-voting information and Book Closure/Record Date published on August 10, 2021 in the following Newspapers:- 1. Loksatta newspaper (Nagpur) in Marathi Language. 2. Business Standard (Mumbai Edition) in English Language. (As Per BSE Announcement dated on 10.08.2021) Proceedings of the 26th Annual General Meeting of Solar Industries India Limited held on Tuesday 31st August 2021 through Video conferencing/ Other Audio Visual Means (VC/OAVM). (As Per BSE Announcement Dated on 8/31/2021 5:25:29 AM) Disclosures of the Voting results and Scrutinisers Report of the 26th Annual General Meeting of Solar Industries India Limited held on Tuesday August 31 2021 through Video conferencing/ Other Audio Visual Means (VC/OAVM). (As Per BSE Announcement Dated on 9/1/2021 1:46:57 AM)

AGM Date: 10 Jun 2022

Outcome of the Board Meeting dated 03.05.2022 We enclose herewith copies of Newspaper clippings regarding Information on E-voting and other related information, published on May 13, 2022 for the Twenty Seventh Annual General Meeting of the Company in the following newspapers: 1. Loksatta newspaper (Nagpur) in Marathi Language. 2. Business Standard (All Edition) in English Language. (As Per BSE Announcement Dated on 13.05.2022) Integrated Annual Report of Solar Industries India Limited for the financial year 2021-22. (As Per BSE Announcement Dated on 17.05.2022) Proceedings of the 27th Annual General Meeting of Solar Industries India Limited Disclosures of the Voting results and Scrutiniser's Report of the 27th Annual General Meeting of Solar Industries India Limited Corrigendum to disclosures of the Voting results of the 27th Annual General Meeting of Solar Industries India Limited Solar Industries India Ltd has informed BSE regarding the details of Voting results of AGM, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. (As Per BSE Announcement Dated on 11.06.2022)

AGM Date: 21 Jun 2023

The 28th Annual General Meeting of the Members of the Company will be held on Wednesday, the 21st day of June, 2023 through Video Conferencing (VC) or Other Audio Visual Means (OAVM) as per the relaxation given by Ministry of Corporate Affairs vide General Circular No. 10/2022 dated December 28, 2022. Intimation of Book Closure pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. (As Per BSE Announcement Dated on 06.05.2023) Compliance of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ['Listing Regulations']. (As per BSE Announcement Dated on 23/06/2023) Integrated Annual Report for the financial year 2022-23 including Notice convening 28th Annual General Meeting (AGM) and Intimation of Record Date. (As Per BSE Announcement Dated on 29.05.2023) Summary of Proceedings of the 28th Annual General Meeting of the Company. (As per BSE Announcement Dated on 21/06/2023) Disclosures of the Voting results and Scrutiniser's Report of the 28th Annual General Meeting of Solar Industries India Limited held on Wednesday, 21st June, 2023 through Video conferencing/ Other Audio Visual Means ('VC/OAVM'). (As Per BSE Announcement Dated on 23.06.2023)

AGM Date: 18 Jul 2024

Outcome of the Board Meeting dated May 16, 2024. Newspaper Clippings - 'Twenty Ninth Annual General Meeting, Information on E-voting, Record date and Final Dividend.' (As Per BSE Announcement Dated on: 27/06/2024) Summary of Proceedings of the 29th Annual General Meeting of the Company. (As Per BSE Announcement dated on 18.07.2024)

AGM Date: 22 Jul 2025

Outcome of the Board Meeting dated 20 May 2025 Integrated Annual report for the financial year 2024-25 including Notice convening 30th Annual General Meeting (AGM) and intimation of Record Date (As Per BSE Announcement Dated on: 27/06/2025) Summary of Proceedings of the 30th Annual General Meeting of the Company. (As Per BSE Announcement Dated on :22.07.2025) Disclosure of Voting Result & Scrutiniser''s Report of the 30th Annual General Meeting of Solar Industries India Limited. (As per BSE Announcement Dated on 24/07/2025)

Solar Industries India Ltd Peer Comparison

Company	Price	Market Cap (in Cr)
Hindustan Aeronautics Ltd	₹4,715.95	₹3,15,390.95
Bharat Electronics Ltd	₹423	₹3,09,203.64
Mazagon Dock Shipbuilders Ltd	₹2,828.75	₹1,14,106.12
Bharat Dynamics Ltd	₹1,556.70	₹57,062.78
Cochin Shipyard Ltd	₹1,723.60	₹45,344.60

Solar Industries India Ltd Top Mutal Funds Invested

Fund Name	AUM
Motilal Oswal Nifty India Defence Index Fund	11.63%
HDFC Defence Fund	11.30%
SBI Focused Fund	3.74%
SBI Equity Hybrid Fund	3.03%
PGIM India Midcap Fund	2.93%

Solar Industries India Ltd News

Solar Industries India bags Rs 1,400-cr defence order from global clients

Solar Industries India has secured a major defence supply order worth Rs 1,400 crore from international clients.

18 Nov 2025, 02:30 pm

Solar Industries India receives export orders of Rs 1400 cr

18 Nov 2025, 01:37 pm

Solar Industries India issues commercial paper of Rs 50 cr

11 Nov 2025, 06:57 pm

Solar Industries India Q2 PAT rises 21% YoY to Rs 345 cr

Solar Industries India reported a 20.66% jump in consolidated net profit to Rs 344.97 crore in Q2 FY26, compared to Rs 285.88 crore posted in Q2 FY25.

10 Nov 2025, 03:29 pm

Solar Industries India to announce Quarterly Result

On 10 November 2025

04 Nov 2025, 03:36 pm

Solar Industries India Ltd Stock Analysis

Annual revenue for Solar Industries India Ltd increased by 20.25% to ₹4,540.35 crore in FY 2025 from ₹3,775.86 crore in FY 2024.
Annual Net Profit for Solar Industries India Ltd increased by 34.68% to ₹803.11 crore in FY 2025 from ₹596.30 crore in FY 2024.
Promoter Shareholding in Solar Industries India Ltd remains unchanged by 0.00% in the most recent quarter, from 73.15% in June 2025 to 73.15% in September 2025.
Solar Industries India Ltd delivered a 1-year return of 39.88% compared to the Nifty 50, which provided a return of 12.17% as of the last trading session.
Solar Industries India Ltd share price moved down by 0.47% from its previous close of INR ₹13,951. The latest Solar Industries India Ltd share price is INR ₹13,886.
Solar Industries India Ltd share price today has been at a low of 13,760 and a high of 13,984. Over the past 52 weeks, the Solar Industries India Ltd share price has seen a low of 8,482.50 and a high of 17,820.

About Solar Industries India Ltd

Solar Industries India Ltd. is the top manufacturer of industrial explosives and explosive-initiating devices. The company operates in the chemicals sector, specifically focusing on industrial explosives and defense products. Solar Industries India Ltd. was founded in 1995. Thus, it has many decades of experience in the chemical industry.
The headquarters of Solar Industries India Ltd. is located in Nagpur, Maharashtra, India. The company is promoted by the Nuwal family, with key promoters including Satyanarayan Nuwal and Manish Nuwal. They serve as the chairman & non-executive director and managing director & CEO of the company. The other crucial managerial promoters of Solar Industries include:

Suresh Menon
Milind Deshmukh
Natrajan Ramkrishna

Solar Industries' main products include industrial explosives such as bulk explosives, packaged explosives, and initiating systems. The company also manufactures defense products, as well as composite propellants, ammunition, and warheads. Its defense products include high-energy materials like HMX, RDX, and TNT.
Solar Industries India Ltd. is one of the largest domestic manufacturers of industrial explosives and defense products. The company holds a significant market share in the explosives industry. With a significant market capitalization, Solar Industries is a major player in its sector.
The promoter shareholding in Solar Industries India Ltd. stands at 73.15%, indicating strong promoter commitment to the business. The major shares are held by Manish Satyanarayan Nuwal and Kailash Chandra Nuwal. They hold 38.93% and 23.08% of shares from total promoter shareholding.
The registered office of the company is located at Solar House, 14, Kachimet, Amravati Road, Nagpur - 440023, Maharashtra, India. Its registrar & transfer agent is Link Intime India Private Limited.
Solar Industries India Ltd. is a well-established company in the industrial explosives and defense sector. The company is known for its comprehensive range of products and strong market presence. Its commitment to innovation, quality, and customer satisfaction has strengthened its position as a reliable name in the industry.

Impact of the Company

Solar Industries India Ltd. has emerged as a transformative force in India's industrial explosives and defense sector since its inception in 1995. Based in Nagpur, Maharashtra, the company has grown from a regional player to a market leader. This significantly impacts both the domestic and international markets for explosives and defense materials.
The company's impact on the industrial sector has been particularly noteworthy. This is possible through its comprehensive range of explosive products. As a manufacturer controlling significant market share, Solar Industries has played a crucial role in supporting India's mining, infrastructure, and construction sectors. Their bulk explosives, packaged explosives, and initiating systems have become essential components in these industries.
Thus, it contributes to the nation's developmental projects and resource extraction capabilities. This market dominance has created substantial employment opportunities. Also, this has helped the company to establish India as a significant player in the global explosives market.
In the defense sector, Solar Industries has made remarkable strides in strengthening India's military capabilities and self-reliance. The company produces sophisticated high-energy materials like HMX, RDX, and TNT, along with composite propellants, ammunition, and warheads. These productions have reduced the country's dependence on foreign imports for critical defense supplies. This achievement aligns perfectly with India's "Make in India" initiative. Also, this has enhanced the nation's strategic autonomy in defense manufacturing.
The strong promoter shareholding of the company has had a significant impact on its stability and long-term strategic planning. This high level of promoter commitment has enabled Solar Industries to make bold investment decisions and maintain consistent quality standards. The high resulting market capitalization reflects the company's major economic impact and its contribution to India's capital markets.
From a technological perspective, Solar Industries has been instrumental in driving innovation within the sector. Their commitment to research and development has led to the introduction of newer, safer, and more efficient explosive products. This has improved safety standards across the industry and also helped in reducing the environmental impact of explosive manufacturing and usage.
The company's economic impact extends beyond its direct operations. Solar Industries is a major employer in the Nagpur region and other operational locations. Thus, it has contributed significantly to local economic development. Their presence has created a network of suppliers, service providers, and auxiliary industries. This creates a multiplier effect on employment and economic growth in these regions.
Solar Industries India Ltd.'s impact on the Indian industrial and defense landscape has been profound and multi-faceted. The company has successfully balanced commercial success with national interests. Thus, it has become a crucial player in India's industrial growth and defense preparedness. Their market leadership, technological innovations, and strong corporate governance have set industry standards and created a blueprint for other companies in the sector.
As India continues its journey towards becoming a global manufacturing hub and strengthening its defense capabilities, Solar Industries' role as a key enabler of this transformation cannot be understated. Looking ahead, Solar Industries appears well-positioned to continue its impactful journey, driving innovation and growth in both the industrial and defense sectors.