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Solar Industries India Limited (SOLARINDS.NS)
INR17,380.00
-591.00 (-3.29%)
IN NSE Basic Materials Chemicals - Specialty
Address
Solar House 440023
Nagpur, IN
Nagpur, IN
CEO
Manish Satyanarayan Nuwal
Website
solargroup.com
IPO
2006-04-03
ISIN INE343H01029
Also trades on
Bombay Stock Exchange · SOLARINDS.BO (INR)
National Stock Exchange of India · SOLARINDS.NS (INR)
Description
Solar Industries India Limited, through its subsidiaries, is a global producer and distributor of industrial explosives and their associated initiating devices. Its extensive product line features industrial explosives, available in both packaged and bulk formats, as well as a comprehensive array of initiating systems. These include electronic, non-electric, electric, and plain detonators, along with cord relays, cast boosters, detonating cords, and aluminum elemented det products. The company also manufactures a wide range of defense solutions, such as unmanned aerial systems (UAS) and various drones, ammunition, military-grade explosives, bombs, warheads, rockets, and drones armed with guided missiles. Additionally, it supplies counter-drone technologies and specialized initiating systems and pyrotechnics like fuzes, detonators, ignitors, decoys, flares, and riot control devices. Primarily serving the mining, defense, and infrastructure sectors, Solar Industries India Limited was founded in 1983. Based in Nagpur, India, the company was formerly known as Solar Explosives Limited before adopting its current name in February 2009.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
INR17,380.00
-591.00 (-3.29%)
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Volume Profile
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Liquidity & share structure
Average Volume
173.6K
Beta
0.20
Float Shares
24.30M
Free Float %
26.9%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +0.54% | +13.98% | +20.06% | +35.50% | +31.19% | +47.86% | +32.19% | +376.68% | +1,339.38% | +2,656.54% | +41,641.94% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Price Targets & DCF
Current price
17,380.00
DCF (Unlevered)
1,948.01
-88.8%
DCF (Levered)
11,536.78
-33.6%
Ratings Trend (MoM)
92% Bullish
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 2 | 0 |
| Buy | 9 | +2 |
| Hold | 1 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Quality scores
Altman Z-Score
24.44
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
-
Revenue growth+24.2% Q1'26: +40.9% (vs Q1'25)
-
EPS growth+44.7% Q1'26: +70.0% (vs Q1'25)
-
FCF margin+26.6% Q1'26: -21.9% (vs Q1'25)
-
EBIT margin+23.4% Q1'26: +24.7% (vs Q1'25)
-
ROIC+29.5% Q1'26: +29.5% (vs Q1'25)
-
Share dilution+0.0% Q1'26: 0.0% (vs Q1'25)
-
Debt / EBITDA0.51× Q1'26: 0.46× (vs Q1'25)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Mar 2007 actual |
Mar 2012 actual |
Mar 2013 actual |
Mar 2014 actual |
Mar 2015 actual |
Mar 2016 actual |
Mar 2017 actual |
Mar 2018 actual |
Mar 2019 actual |
Mar 2020 actual |
Mar 2021 actual |
Mar 2022 actual |
Mar 2023 actual |
Mar 2024 actual |
Mar 2025 actual |
Mar 2026 10 Rev. Ana. 8 EPS Ana. |
Mar 2027 3 Rev. Ana. 3 EPS Ana. |
Mar 2028 11 Rev. Ana. 10 EPS Ana. |
Mar 2029 1 Rev. Ana. 4 EPS Ana. |
Mar 2030 1 Rev. Ana. 4 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
2.06B
est: 1.99B (+3.7%)
|
9.68B
est: 9.89B (-2.2%)
|
11.22B
est: 11.27B (-0.5%)
|
11.33B
est: 11.45B (-1.0%)
|
13.52B
est: 13.50B (+0.1%)
|
14.49B
est: 15.42B (-6.1%)
|
15.80B
est: 16.40B (-3.6%)
|
19.16B
est: 18.71B (+2.4%)
|
24.62B
est: 24.58B (+0.1%)
|
22.37B
est: 22.04B (+1.5%)
|
25.16B
est: 24.23B (+3.8%)
|
39.48B
est: 37.09B (+6.4%)
|
69.23B
est: 64.88B (+6.7%)
|
60.70B
est: 60.82B (-0.2%)
|
75.40B
est: 74.26B (+1.5%)
|
98.02B
96.13B – 100.70B
+32.0% YoY
|
128.59B
126.08B – 130.08B
+31.2% YoY
|
159.91B
147.33B – 186.30B
+24.4% YoY
|
212.05B
201.18B – 231.95B
+32.6% YoY
|
180.00B
170.77B – 196.89B
-15.1% YoY
|
| EBITDA |
391.67M
est: 448.28M (-12.6%)
|
1.84B
est: 1.60B (+14.7%)
|
1.90B
est: 1.78B (+6.7%)
|
2.32B
est: 1.42B (+62.8%)
|
2.54B
est: 1.73B (+46.4%)
|
3.10B
est: 2.50B (+23.8%)
|
3.53B
est: 3.07B (+14.8%)
|
4.03B
est: 2.87B (+40.4%)
|
5.14B
est: 4.83B (+6.5%)
|
4.47B
est: 3.67B (+21.7%)
|
5.47B
est: 3.44B (+59.1%)
|
7.88B
est: 4.34B (+81.6%)
|
13.83B
est: 4.60B (+200.4%)
|
15.52B
est: 13.71B (+13.2%)
|
19.20B
est: 16.89B (+13.7%)
|
22.10B
21.67B – 22.70B
+30.8% YoY
|
28.99B
28.43B – 29.33B
+31.2% YoY
|
36.05B
33.22B – 42.00B
+24.4% YoY
|
47.81B
45.36B – 52.29B
+32.6% YoY
|
40.58B
38.50B – 44.39B
-15.1% YoY
|
| EBIT |
350.43M
est: 400.66M (-12.5%)
|
1.71B
est: 1.27B (+34.4%)
|
1.73B
est: 1.75B (-1.3%)
|
2.10B
est: 1.65B (+27.4%)
|
2.23B
est: 2.36B (-5.7%)
|
2.77B
est: 2.40B (+15.4%)
|
3.14B
est: 3.07B (+2.4%)
|
3.52B
est: 3.41B (+3.1%)
|
4.56B
est: 4.59B (-0.6%)
|
3.68B
est: 4.34B (-15.2%)
|
4.58B
est: 3.40B (+34.7%)
|
6.89B
est: 4.29B (+60.4%)
|
12.66B
est: 4.55B (+178.2%)
|
14.23B
est: 12.26B (+16.1%)
|
17.62B
est: 15.10B (+16.7%)
|
19.75B
19.37B – 20.29B
+30.8% YoY
|
25.91B
25.41B – 26.21B
+31.2% YoY
|
32.22B
29.69B – 37.54B
+24.4% YoY
|
42.73B
40.54B – 46.74B
+32.6% YoY
|
36.27B
34.41B – 39.67B
-15.1% YoY
|
| Net Income |
192.16M
est: 201.08M (-4.4%)
|
1.01B
est: 955.16M (+6.0%)
|
1.16B
est: 1.15B (+0.8%)
|
1.18B
est: 1.17B (+1.1%)
|
1.47B
est: 1.41B (+4.3%)
|
1.66B
est: 1.68B (-1.2%)
|
1.85B
est: 1.83B (+1.5%)
|
2.21B
est: 2.04B (+8.3%)
|
2.62B
est: 2.89B (-9.6%)
|
2.67B
est: 2.47B (+8.4%)
|
2.76B
est: 2.60B (+6.4%)
|
4.41B
est: 3.28B (+34.6%)
|
7.57B
est: 3.48B (+117.8%)
|
8.36B
est: 9.25B (-9.6%)
|
12.09B
est: 12.62B (-4.1%)
|
16.78B
16.52B – 17.62B
+33.0% YoY
|
23.06B
22.28B – 23.85B
+37.5% YoY
|
28.54B
25.11B – 36.01B
+23.7% YoY
|
39.21B
36.60B – 43.99B
+37.4% YoY
|
29.98B
27.98B – 33.64B
-23.5% YoY
|
| SGA |
264.48M
est: 171.87M (+53.9%)
|
1.50B
est: 1.93B (-22.2%)
|
1.53B
est: 2.22B (-31.2%)
|
1.73B
est: 2.17B (-20.0%)
|
825.60M
est: 3.25B (-74.6%)
|
901.30M
est: 3.47B (-74.1%)
|
1.09B
est: 2.66B (-58.8%)
|
1.65B
est: 3.16B (-47.9%)
|
2.13B
est: 4.93B (-56.8%)
|
2.44B
est: 4.17B (-41.5%)
|
2.64B
est: 4.64B (-43.1%)
|
3.39B
est: 5.86B (-42.1%)
|
4.71B
est: 6.22B (-24.2%)
|
5.03B
est: 5.26B (-4.3%)
|
6.80B
est: 7.49B (-9.1%)
|
8.47B
8.31B – 8.70B
+13.2% YoY
|
11.12B
10.90B – 11.24B
+31.2% YoY
|
13.82B
12.73B – 16.10B
+24.4% YoY
|
18.33B
17.39B – 20.05B
+32.6% YoY
|
15.56B
14.76B – 17.02B
-15.1% YoY
|
| EPS |
2.22
est: 2.22 (-0.1%)
|
11.68
est: 12.44 (-6.1%)
|
13.09
est: 13.36 (-2.0%)
|
13.09
est: 12.64 (+3.5%)
|
16.29
est: 17.28 (-5.7%)
|
18.09
est: 19.67 (-8.0%)
|
20.61
est: 23.30 (-11.5%)
|
24.37
est: 23.50 (+3.7%)
|
28.91
est: 29.62 (-2.4%)
|
29.55
est: 18.70 (+58.0%)
|
30.54
est: 29.20 (+4.6%)
|
48.77
est: 45.22 (+7.9%)
|
83.68
est: 82.75 (+1.1%)
|
92.38
est: 102.22 (-9.6%)
|
133.65
est: 140.87 (-5.1%)
|
188.57
182.51 – 194.68
+33.9% YoY
|
253.88
246.15 – 263.54
+34.6% YoY
|
315.71
277.43 – 397.93
+24.4% YoY
|
433.30
404.42 – 486.17
+37.2% YoY
|
331.30
309.22 – 371.72
-23.5% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-19 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 1/5 | 1/5 |
| 2026-05-18 | C- | 1/5 | 4/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-15 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-14 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-13 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-12 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-11 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-08 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-07 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-06 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-05 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-05-04 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-30 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-29 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-28 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-27 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-24 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-23 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-22 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-21 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-20 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-17 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-16 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-15 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-13 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
| 2026-04-10 | C | 2/5 | 5/5 | 1/5 | 1/5 | 1/5 | 1/5 | 1/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
1.43B
OE per share TTM
15.75
Owner's Yield
0.09%
Maintenance CapEx ratio
176.26%
Maint CapEx / Avg PPE
42.4%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
Insider Activity
Insider Activity — Latest Quarter
No insider activity available.
Insider buys vs sells (history)
Insider history not available.
Recent insider transactions
No recent insider transactions.
Executive team
Top executives
EBIT / Employee
12.57M
Shares Outstanding
90.49M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Manish Satyanarayan Nuwal | Chief Executive Officer, MD & Executive Director | 241M | male |
| Suresh Menon | Whole Time Director | 20M | male |
| Milind Deshmukh | Executive Director | 16M | male |
| Moneesh Agrawal | Joint Chief Financial Officer | 6M | male |
| Shalinee Mandhana | Joint Chief Financial Officer | 6M | female |
| Khushboo Anish Pasari | Compliance Officer & Company Secretary | 3M | female |
| Aanchal Kewlani | Senior Finance Manager & Investor Relations | — | female |
| Sanjay Singh | Senior General Manager of Safety | — | male |
| Shailendra Tiwari | Chief Information Officer - IT | — | male |
| Manoj Kumar Lalwani | Senior General Manager Sales & Marketing | — | male |
ESG Score History
No data available for this company.
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for SOLARINDS.NS
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
