Solar Industries India Ltd (Industrial Explosives) — fundamental analysis, earnings data, and key metrics. PE: 77.4. ROE: 32.6%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Mar 7, 2026
What: Converting record defense order book with 72% YoY revenue growth already visible
Impact: +₹3000 Cr revenue
“Defense revenue crossed ₹700 cr in Q3 (+72% YoY), management expects strong momentum continuing into FY27”
What: Strong traction in African, Southeast Asian and Turkish markets
Impact: +₹1000 Cr revenue
“International business forms ~₹11,000 cr of total ₹21,000 cr order book, management cites good demand across geographies”
What: Higher contribution from defense/international business driving OPM to 28.8%
“OPM improved 180 bps YoY to 28.8%, management confident of maintaining 27-28% EBITDA margins”
Earnings deceleration risks from management commentary
Trigger: If defense ramp-up takes longer than expected
Impact: -200 bps margin impact
Management view: Ramping up of defense takes more time than other sectors, but gradual improvements expected quarterly
Monitor: Quarterly defense revenue growth
Trigger: If global tensions ease reducing defense spending
Impact: -150 bps margin impact
Management view: Defense shipping well due to geopolitical tensions and global product vacuum
Monitor: Global defense spending trends
Key quotes from recent conference calls
“we have crossed 1000 crores which is a growth of almost 35%. And we believe that it is all because of our efforts in last so many years. — Management”
“demand in African market is quite good. We are getting good traction in some of the Southeast Asian market also. We are doing quite good in Turkey and nearby market also. — Management”
“we should be able to maintain the ebitda margins around 27, 28% as we move forward also. — Manish Nuwal”
“in FY27 we are likely to perform very good. And the total expectations we will share at the start of the financial year 27. — Management”
Forward-looking targets from management for FY27
Implied PAT Growth
25%
OPM Guidance
27.5%
Key Milestones
• Defense revenue expected to reach ₹3,000 cr in FY26
• Continued margin expansion to 27-28% EBITDA
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Mar 7, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Solar Industries India Ltd's latest quarterly results (Dec 2025) show
Solar Industries India Ltd's current PE ratio is 77.4x.
Solar Industries India Ltd's price-to-book ratio is 22.0x.
Solar Industries India Ltd's fundamental strength based on key financial ratios
Solar Industries India Ltd has a debt-to-equity ratio of N/A.
Solar Industries India Ltd's return ratios over recent years
Solar Industries India Ltd's operating cash flow is positive (FY2025).
Solar Industries India Ltd's current dividend yield is 0.08%.
Solar Industries India Ltd's shareholding pattern (Dec 2025)
Solar Industries India Ltd's promoter holding has remained stable recently.
Solar Industries India Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Solar Industries India Ltd has 3 key growth catalysts identified from recent earnings analysis
Solar Industries India Ltd has 2 key risks worth monitoring
In Q3 FY26, Solar Industries India Ltd's management highlighted
Solar Industries India Ltd's management has provided the following forward guidance for FY27
Based on quantitative research signals, here is why Solar Industries India Ltd may be worth studying
Solar Industries India Ltd investment thesis summary:
Solar Industries India Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
