Solar Industries

What does Solar Industries do?

Solar Industries India Ltd manufactures industrial explosives and explosive initiating devices, and has expanded into ammunition for military applications. As of March 2025, it reported net sales of ₹2,167 Cr and a net profit of ₹322 Cr, with a market cap of ₹149,606 Cr.

Overview: <BR>Solar Industries India Ltd is engaged in the manufacturing of a complete range of industrial explosives and explosive initiating devices, operating within the Other Chemical products industry and classified as a Large Cap company.<BR><BR>History: <BR>Solar Industries India Ltd was incorporated in an unspecified year and has since expanded its operations to include ammunition manufacturing for military applications. The latest quarterly results reported are for March 2025, showing net sales and profit figures.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: 2,167 Cr (Quarterly Results - Mar 2025) <BR>Most recent Net Profit: 322 Cr (Quarterly Results - Mar 2025) <BR>Market-cap value: Rs 149,606 Cr (Large Cap)<BR><BR>Key Metrics: <BR>P/E: 127.00 <BR>Industry P/E: 47 <BR>Dividend Yield: 0.05% <BR>Debt-Equity: -0.06 <BR>Return on Equity: 27.57% <BR>Price to Book: 35.12<BR><BR>Contact Details: <BR>Address: Solar House 14 Kachimet, Amravati Road Nagpur Maharashtra : 440023 <BR>Phone: 91-0712-2561000/2560010/6681888 <BR>Email: solar@solargroup.com <BR>Website: http://www.solargroup.com

Has Solar Industries declared dividend?

Yes, Solar Industries India Ltd has declared a dividend of 425% (₹8.5 per share) with an ex-date of July 4, 2024. Despite a low dividend yield of 0.05%, the company has shown strong price appreciation, with total returns of up to 1691.47% over the past five years.

Yes, Solar Industries India Ltd has declared a dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 425%<BR>- Amount per share: 8.5<BR>- Ex-date: Jul-04-2024<BR><BR>Dividend Yield: 0.05%.<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was 52.55%, with a dividend return of 0%, resulting in a total return of 52.55%.<BR><BR>Over the past year, the price return was 80.69%, with a dividend return of 0.09%, leading to a total return of 80.78%.<BR><BR>In the 2-year period, the price return reached 328.92%, while the dividend return was 0.22%, culminating in a total return of 329.14%.<BR><BR>For the 3-year period, the price return was 490.47%, with a dividend return of 0.60%, resulting in a total return of 491.07%.<BR><BR>Over the last 4 years, the price return was 961.14%, and the dividend return was 1.90%, giving a total return of 963.04%.<BR><BR>In the 5-year span, the price return was 1687.83%, with a dividend return of 3.64%, leading to a total return of 1691.47%.<BR><BR>Overall, Solar Industries has declared a significant dividend, and while the dividend yield is relatively low, the total returns over various periods indicate strong price appreciation, reflecting a positive performance trend for the company.

Who are the peers of the Solar Industries?

Peers of Solar Industries include Linde India, PCBL Chemical, and Refex Industries, among others. Solar Industries shows excellent management, growth, and capital structure, with a 1-year return of 69.02%, while Refex Industries leads in returns at 268.37%.

Peers: The peers of Solar Industries are Linde India, PCBL Chemical, Refex Industries, Prem. Explosives, GOCL Corpn., Stallion India, DIC India, Keltech Energies, and Beezaasan Exp.<BR><BR>Quality Snapshot: Excellent management risk is observed at Solar Industries, while Good management risk is found at Linde India and PCBL Chemical, and the rest have Average management risk. Excellent growth is noted at Solar Industries, PCBL Chemical, Refex Industries, Stallion India, and the rest have either Below Average or Good growth. Excellent capital structure is seen at Solar Industries, Linde India, Refex Industries, Stallion India, and the rest have Average or Below Average capital structure.<BR><BR>Return Snapshot: Refex Industries has the highest 1-year return at 268.37%, while Linde India has the lowest at -15.34%. Solar Industries' 1-year return of 69.02% is significantly higher than Linde India's. Additionally, GOCL Corpn. and DIC India have negative six-month returns.

Is Solar Industries overvalued or undervalued?

As of August 21, 2020, Solar Industries is considered very expensive with a PE ratio of 123.77 and significant overvaluation compared to peers like Godrej Industries and Gujarat Fluoroch, despite outperforming the Sensex with a year-to-date return of 72.06%.

As of 21 August 2020, Solar Industries' valuation grade has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is currently considered overvalued, supported by a PE ratio of 123.77, a Price to Book Value of 34.13, and an EV to EBITDA ratio of 76.22. These ratios highlight a premium valuation compared to its peers.<BR><BR>In comparison, Godrej Industries, which is rated attractive, has a PE ratio of 46.63 and an EV to EBITDA of 34.36, demonstrating a stark contrast in valuation metrics. Other peers like Gujarat Fluoroch and Deepak Nitrite also show lower valuations, with PE ratios of 73.59 and 37.97, respectively. Notably, Solar Industries has outperformed the Sensex significantly over various periods, with a year-to-date return of 72.06% compared to the Sensex's 5.62%, reinforcing the narrative of its current overvaluation.

Who are in the management team of Solar Industries?

As of March 2023, the management team of Solar Industries includes Chairman Satyanarayan Nuwal, Managing Director & CEO Manish Nuwal, and several directors, including independent and executive members, responsible for the company's operations and strategic direction.

As of March 2023, the management team of Solar Industries includes the following individuals:<BR><BR>1. **Satyanarayan Nuwal** - Chairman (Non-Executive)<BR>2. **Manish Nuwal** - Managing Director & CEO<BR>3. **Khushboo Pasari** - Company Secretary & Compliance Officer<BR>4. **Amrendra Verma** - Independent Director<BR>5. **Suresh Menon** - Executive Director<BR>6. **Sujitha Karnad** - Independent Director<BR>7. **Milind Deshmukh** - Whole-time Director<BR>8. **Natrajh Ramakrishna** - Independent Director<BR>9. **Jagdish Chandra Belwal** - Independent Director<BR><BR>This team is responsible for overseeing the company's operations and strategic direction.

Who are the top shareholders of the Solar Industries?

The top shareholders of Solar Industries include promoter Manish Satyanarayan Nuwal with 38.93%, mutual funds holding 12.22%, foreign institutional investors at 6.79%, and individual investors with 4.75%. There are no pledged promoter holdings reported.

The top shareholders of Solar Industries include the promoters, who hold the majority of the shares. The promoter with the highest holding is Manish Satyanarayan Nuwal, owning 38.93% of the company. Additionally, mutual funds are represented by 31 schemes, accounting for 12.22% of the shares, while foreign institutional investors (FIIs) hold 6.79% through 407 different entities. Individual investors collectively own 4.75% of the shares. Notably, there are no pledged promoter holdings reported.

How big is Solar Industries?

As of 24th July, Solar Industries India Ltd has a market capitalization of 134,025.00 Cr and reported net sales of 7540.26 Cr and net profit of 1209.44 Cr over the latest four quarters.

As of 24th July, <BR><BR>Market Cap: Solar Industries India Ltd has a market capitalization of 134,025.00 Cr, categorizing it as a Large Cap company.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 7540.26 Cr, while the sum of Net Profit for the same period is 1209.44 Cr.<BR><BR>Balance Sheet Snapshot: The reporting period is March 2025, with Shareholder's Funds amounting to 4,386.34 Cr and Total Assets totaling 8,105.54 Cr.

How has been the historical performance of Solar Industries?

Solar Industries has exhibited significant growth from Mar'20 to Mar'25, with net sales increasing from 2,237.30 Cr to 7,540.26 Cr, and profit after tax rising from 276.35 Cr to 1,282.38 Cr, alongside a reduction in total debt to zero by Mar'25. The company's total assets also grew substantially, reflecting strong financial performance across various metrics.

Answer:<BR>The historical performance of Solar Industries shows significant growth in various financial metrics over the years.<BR><BR>Breakdown:<BR>Solar Industries has demonstrated a strong upward trend in net sales, increasing from 2,237.30 Cr in Mar'20 to 7,540.26 Cr in Mar'25. This growth is reflected in total operating income, which rose from 2,461.57 Cr in Mar'19 to 7,540.26 Cr in Mar'25. The company has also seen fluctuations in raw material costs, peaking at 3,819.54 Cr in Mar'23 before settling at 3,375.36 Cr in Mar'25. Operating profit (PBDIT) has improved significantly, reaching 2,031.19 Cr in Mar'25, up from 475.37 Cr in Mar'20. Profit before tax has also increased, from 335.80 Cr in Mar'20 to 1,733.19 Cr in Mar'25, while profit after tax rose from 276.35 Cr to 1,282.38 Cr in the same period. The company's total assets grew from 2,480.79 Cr in Mar'20 to 8,105.54 Cr in Mar'25, indicating robust asset accumulation. Total liabilities increased from 2,480.79 Cr to 8,105.54 Cr, with a notable reduction in total debt from 1,169.23 Cr in Mar'23 to zero in Mar'25. Cash flow from operating activities has also improved, reaching 2,467.00 Cr in Mar'25, contributing to a closing cash balance of 590.00 Cr. Overall, Solar Industries has shown strong financial performance and growth across multiple dimensions over the years.

Is Solar Industries technically bullish or bearish?

As of December 3, 2025, the technical trend is mildly bearish, indicated by bearish MACD and KST signals on both weekly and monthly charts, alongside a bearish outlook from Bollinger Bands, despite daily moving averages showing mild bullishness.

As of 3 December 2025, the technical trend has changed from sideways to mildly bearish. The current technical stance is mildly bearish, driven by several key indicators. The MACD is bearish on the weekly chart and mildly bearish on the monthly chart. The KST is also bearish weekly and mildly bearish monthly. The Dow Theory confirms a mildly bearish stance on both weekly and monthly time frames. Although the daily moving averages indicate a mildly bullish trend, the overall sentiment is dampened by the bearish signals from the Bollinger Bands on the weekly chart and the lack of strong signals from the RSI. The stock has underperformed against the Sensex over the past month, further supporting the bearish outlook.

When is the next results date for Solar Industries India Ltd?

The next results date for Solar Industries India Ltd is 03 February 2026.

The next results date for Solar Industries India Ltd is scheduled for 03 February 2026.

Are Solar Industries India Ltd latest results good or bad?

Solar Industries India Ltd's latest Q3 FY26 results are generally positive, showing a net profit increase of 1.85% QoQ and 20.67% YoY, despite a 3.35% QoQ revenue decline due to seasonal factors. The improved operating margin and strong return on equity indicate effective management, making the overall performance favorable.

Solar Industries India Ltd's latest results for Q3 FY26 present a mixed picture. On the positive side, the company reported a net profit of ₹344.97 crore, which reflects a 1.85% increase quarter-on-quarter (QoQ) and a significant 20.67% increase year-on-year (YoY). This indicates strong profitability and operational efficiency.<BR><BR>However, revenue for the quarter was ₹2,082.22 crore, which represents a decline of 3.35% QoQ, although it still shows impressive growth of 21.35% YoY. The sequential decline in revenue is somewhat typical for the explosives sector due to seasonal factors, such as monsoon-related project delays.<BR><BR>The operating margin, excluding other income, improved to 26.55%, marking a sequential increase of 172 basis points, which demonstrates effective cost management and operational discipline despite the revenue dip. The return on equity (ROE) remains strong at 25.82%, indicating efficient capital utilization.<BR><BR>Overall, while the revenue decline may raise some concerns, the strong profit growth and margin expansion suggest that the company is managing its operations well amidst seasonal challenges. Therefore, the results can be viewed as good, particularly in the context of the explosive industry's typical seasonal fluctuations.

Should I buy, sell or hold Solar Industries India Ltd?

Why is Solar Industries India Ltd falling/rising?

As of 08-May, Solar Industries India Ltd's stock price is rising to 16,121.25, reflecting a 1.49% increase. This growth is driven by strong performance metrics, positive investor sentiment, and solid financial fundamentals, including a year-to-date increase of 31.51%.

As of 08-May, Solar Industries India Ltd's stock price is rising, currently at 16,121.25, reflecting a change of 236.25 (1.49%) upward. This increase can be attributed to several positive factors. Over the past week, the stock has outperformed the benchmark Sensex, gaining 4.41% compared to the Sensex's 0.54%. In the last month, the stock has risen by 18.01%, while the Sensex has decreased by 0.30%. Year-to-date, the stock has shown a remarkable increase of 31.51%, contrasting with a decline of 9.26% in the Sensex.<BR><BR>Today, the stock has outperformed its sector by 1.25% and has experienced consecutive gains over the last two days, with a total return of 2.37% during this period. Additionally, Solar Industries is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. The rising investor participation is evident, with a delivery volume of 45.03k on May 7, which is an increase of 11.96% against the 5-day average delivery volume.<BR><BR>The company's strong long-term fundamentals also support the stock's rise, highlighted by an average Return on Capital Employed (ROCE) of 29.52% and a healthy growth in net sales and operating profit. The company has consistently declared positive results for the last seven quarters, with a net profit growth of 38.67%. Furthermore, the stock's liquidity is sufficient for trading, with a market cap of Rs 1,43,970 crore, making it the largest company in its sector.<BR><BR>Overall, the combination of strong performance metrics, positive investor sentiment, and solid financial fundamentals contributes to the rising stock price of Solar Industries India Ltd.

Which are the latest news on Solar Industries?