Solar Industries IndiaNSE: SOLARINDSBSE: 532725Chemicals · Explosives

₹18,391.00338.00 (1.87%)

Mkt Cap: ₹1.66 L Cr.
P/E (TTM): 97.47
Open: ₹18,110.00
Day's Range: ₹18,110.00 – ₹18,619.00
52W Range: ₹11,646.00 – ₹19,187.00
Div Yield: 0.06%
EPS (TTM): ₹185.10
Book Value: ₹693.71

Solar Industries India Financial Statements

Name: Solar Industries India Financials — historical data
Creator: StockeZee

For Mar 2026, Solar Industries India reported revenue of ₹9,838 crore and net profit of ₹1,678 crore. Return on equity stands at 31.50%. Profit & loss, balance sheet and cash flow across 9 reported years are below.

Updated 31 Jul 2026Source: NSE & BSE company filingsNifty 100 constituent

Latest year revenue: ₹9,838 Cr
EBITDA: ₹2,622 Cr
Operating margin: 26.65%
Profit after tax: ₹1,678 Cr
Net margin: 17.05%
EPS: ₹185.39
Latest year: Mar 2026
Years reported: 9

Solar Industries India profit & loss

Reported annual performance for Solar Industries India, oldest to newest. Figures in ₹ crore unless a row states otherwise.

Solar Industries India annual profit and loss statement. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue from Operations	1,951	2,462	2,237	2,516	3,948	6,923	6,070	7,540	9,838
Sales Growth YoY %	—	26.14%	-9.11%	12.44%	56.92%	75.36%	-12.32%	24.23%	30.47%
Other Income	12	15	41	21	20	32	44	71	128
Total Income	1,964	2,476	2,278	2,537	3,967	6,954	6,114	7,611	9,966
Cost of Goods Sold (COGS)	1,064	1,401	1,215	1,347	2,327	4,342	3,196	3,907	4,894
Cost of Materials Consumed	1,061	1,253	1,104	1,185	2,066	3,820	2,710	3,375	4,503
Purchases of Stock-in-Trade	40	137	153	199	302	560	403	557	569
Changes in Inventories	-37	10	-42	-38	-40	-37	84	-26	-178
Gross Profit	888	1,061	1,022	1,169	1,620	2,580	2,873	3,633	4,944
Gross Margin %	45.5%	43.09%	45.69%	46.46%	41.04%	37.27%	47.34%	48.18%	50.26%
Total Operating Expenses	476	559	588	654	873	1,291	1,504	1,673	2,322
Employee Benefit Expense	133	184	207	231	290	353	433	600	845
Other Expenses	343	374	381	424	583	939	1,071	1,073	1,477
EBITDA	412	502	434	515	747	1,289	1,369	1,960	2,622
OPM %	21.09%	20.39%	19.41%	20.46%	18.93%	18.62%	22.56%	26%	26.65%
Total Non-Operating Expenses	84	103	140	139	160	219	253	298	385
Depreciation & Amortisation	51	59	85	94	109	128	143	182	251
Finance Costs	33	50	55	45	50	90	109	117	134
Exceptional Items (Before Tax)	0	-6	0	0	0	0	0	0	0
Profit Before Tax (PBT)	340	402	336	397	607	1,102	1,161	1,733	2,365
Tax Expense	106	125	57	109	152	290	286	451	629
Current Tax	88	130	95	126	164	314	307	428	607
Deferred Tax	18	-5	-38	-17	-12	-24	-21	23	22
Effective Tax %	31.22%	31.12%	17.01%	27.46%	25.02%	26.36%	24.64%	26.01%	26.58%
Total Profit for Period	234	277	279	288	455	811	875	1,288	1,737
Less: Non-controlling Interests	13	15	11	12	14	54	0	78	59
Net Profit (Owner's PAT)	221	262	267	276	441	757	875	1,209	1,678
Net Profit Margin %	11.3%	10.63%	11.95%	10.99%	11.18%	10.94%	14.42%	16.04%	17.05%
PAT Growth YoY %	—	18.62%	2.22%	3.34%	59.68%	71.59%	15.59%	38.19%	38.7%
Earnings Per Share (EPS)	₹24.37	₹28.91	₹29.55	₹30.54	₹48.77	₹83.68	₹96.72	₹133.65	₹185.39
Diluted Shares Outstanding (Cr.)	9	9	9	9	9	9	9	9	9
Profit/Loss from Associates	0	0	0	0	0	-0	0	6	0
Other Comprehensive Income (Net of Tax)	8	-47	-63	-13	-28	-32	-172	-65	301
Expenses	1,624	2,074	1,943	2,140	3,360	5,852	4,953	5,878	7,601
Material Cost %	54.35%	50.92%	49.34%	47.11%	52.32%	55.18%	44.65%	44.76%	45.77%
Employee Cost %	6.84%	7.48%	9.24%	9.17%	7.34%	5.1%	7.14%	7.96%	8.59%
Other Cost %	17.57%	15.21%	17.05%	16.84%	14.78%	13.56%	17.64%	14.22%	15.02%
Interest Coverage (x)	11.01	8.88	6.36	9.28	12.7	12.84	11.21	15.27	17.7

Solar Industries India revenue and profit trend

Reported annual revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.

Solar Industries India balance sheet

Assets, liabilities and shareholders' equity as reported, in Schedule III order. Figures in ₹ crore unless a row states otherwise.

Solar Industries India annual balance sheet with assets, liabilities and equity. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Equity	1,286	1,432	1,642	2,015	2,751	3,427	4,537	6,549
Equity Share Capital	18	18	18	18	18	18	18	18
Reserves & Surplus	1,220	1,362	1,561	1,896	2,592	3,288	4,368	6,259
Equity Method Investments	—	—	—	—	—	—	36	37
Total Equity	1,286	1,432	1,642	2,015	2,751	3,427	4,537	6,549
Non-Current Liabilities	276	369	568	592	653	809	1,611	1,921
Long-term Borrowings	156	253	433	436	473	584	394	820
Deferred Tax Liabilities	119	105	116	137	159	198	219	272
Non-Current Provisions	0	2	1	1	3	3	5	3
Other Non-Current Liabilities	—	—	—	—	—	24	—	788
Non-Current Financial Liabilities	156	262	451	453	492	584	1,387	859
Current Liabilities	720	732	819	1,118	1,632	1,501	2,114	2,449
Short-term Borrowings	313	357	194	430	697	521	546	647
Trade Payables	163	154	286	465	488	553	493	632
Current Financial Liabilities	662	665	697	952	1,260	1,191	1,609	1,714
Other Current Financial Liabilities	185	154	217	57	75	116	571	435
Other Current Liabilities	46	55	94	132	295	19	428	674
Current Provisions	9	9	11	11	14	15	24	40
Current Tax Liabilities	4	3	18	22	63	277	53	22
Total Liabilities	996	1,101	1,388	1,709	2,286	2,310	3,725	4,370
Total Non-Current Assets	1,313	1,549	1,804	2,060	2,535	3,080	4,135	5,881
Property, Plant & Equipment (PPE)	1,005	1,147	1,216	1,416	1,614	1,919	2,470	3,716
Capital Work-in-Progress	166	152	282	221	279	487	703	692
Intangible Assets	30	51	61	66	77	42	112	59
Non-Current Investments	3	2	1	18	79	156	111	146
Loans – Non-Current	12	21	21	16	17	33	33	35
Other Non-Current Assets	27	77	47	74	168	100	236	535
Non-Current Financial Assets	36	47	107	169	255	303	288	447
Net Fixed Assets	1,201	1,351	1,560	1,704	1,971	2,448	3,285	4,466
Total Current Assets	968	984	1,226	1,661	2,501	2,657	4,123	5,037
Inventories	283	331	440	719	1,098	847	1,040	1,742
Trade Receivables	399	370	455	541	825	845	1,239	1,858
Cash & Cash Equivalents	61	93	170	85	245	260	590	469
Current Investments	30	0	—	—	20	213	529	—
Loans – Current	2	6	4	8	12	3	2	4
Current Financial Assets	620	583	703	741	1,154	1,503	2,664	2,583
Other Current Assets	66	70	82	201	250	299	419	712
Other Current Financial Assets	96	87	62	93	37	154	168	138
Assets Held for Sale	1	—	—	3	—	—	4	—
Current Tax Assets	—	—	—	—	—	9	—	—
Net Working Capital	248	251	406	543	869	1,156	2,009	2,589
Additional Asset Fields	77	103	133	196	268	282	326	457
Def Tax Assets	29	52	70	95	128	160	175	186
Non Controlling Int	48	52	63	101	140	122	150	272
Total Assets	2,282	2,532	3,030	3,724	5,036	5,737	8,261	10,919
Total Borrowings	469	610	627	866	1,169	1,105	940	1,468
Net Debt	408	518	457	781	924	845	349	998
Debt to Equity (x)	0.36	0.43	0.38	0.43	0.43	0.32	0.21	0.22
Current Ratio (x)	1.34	1.34	1.5	1.49	1.53	1.77	1.95	2.06

Solar Industries India cash flow statement

Cash generated and used across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.

Solar Industries India annual cash flow statement across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Cash from Operating Activities	298	656	1,406	2,468	621
Profit Before Tax	607	1,102	1,161	1,733	2,365
Depreciation & Amortisation	109	128	143	182	251
Finance Costs	50	90	109	117	134
Working Capital Changes	-312	-527	186	794	-1,556
Tax Paid	-160	-254	-300	-403	-662
Net Cash from Investing Activities	-303	-519	-726	-1,593	-1,164
Purchase of PPE	-287	-479	-560	-1,006	-1,739
Sale of Fixed Assets	7	0	-176	5	594
Interest Received	0	6	0	7	20
Net Cash from Financing Activities	-45	118	-370	-476	209
Proceeds from Borrowings	198	504	340	118	858
Repayment of Borrowings	-175	-225	-495	-357	-369
Interest Paid	-52	-87	-131	-118	-147
Dividend Paid	-54	-68	-77	-77	-114
Buyback / Redemption of Shares	0	0	0	0	0
Lease Liabilities Paid	-5	-6	0	-18	-19
Net Change in Cash	-85	160	15	398	-121
Effect of Foreign Exchange Changes	-35	-95	-295	0	213
Free Cash Flow	10	177	846	1,462	-1,118
CFO / PBT (x)	0.49	0.6	1.21	1.42	0.26

Solar Industries India key ratios

Valuation, profitability, return, leverage and per-share measures computed from reported statements — not from adjusted or normalised earnings.

Solar Industries India trades at a P/E of 97.47× against a sector median of 48.30× — a 102% premium. Sector comparisons can mislead for conglomerates with mixed business lines.

Solar Industries India valuation, profitability, return and leverage ratios
Ratio	Category	Value
P/E (TTM)	Valuation	97.47
Forward P/E	Valuation	55.36
P/B	Valuation	26.05
PEG (TTM)	Valuation	3.31
EV / EBITDA (TTM)	Valuation	42.61
P/S (TTM)	Valuation	15.99
Operating margin	Profitability	26.6%
Net margin (TTM)	Profitability	17.05%
Return on equity	Return ratios	31.5%
Return on capital employed	Return ratios	36.8%
Return on assets	Return ratios	15.45%
Debt to equity	Leverage & liquidity	0.24
Beta	Leverage & liquidity	0.98
EPS (TTM)	Per share	₹185.1
Book value	Per share	₹693.71
Revenue / share (TTM)	Per share	₹1,087.16
Cash flow / share	Per share	₹68.61
Dividend yield	Shareholder returns	0.06%
Dividend payout (TTM)	Shareholder returns	5.4%

How this is calculated

Statements are as filed with the exchanges. Consolidated figures are shown where reported. Figures are in rupees crore unless the table states otherwise. Ratios are computed from the same reported statements, not from adjusted or normalised earnings.

Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.

Solar Industries India: frequently asked questions

What is Solar Industries India's annual revenue?

Solar Industries India reported revenue of ₹9,838 crore in Mar 2026, up 30.5% on the previous financial year.

Is Solar Industries India profitable?

Solar Industries India reported a net profit of ₹1,678 crore in Mar 2026, up 38.7% on the previous financial year.

What is Solar Industries India's EPS?

Solar Industries India reported earnings per share of ₹185.39 for Mar 2026.

What is Solar Industries India's operating margin?

Solar Industries India's operating margin for Mar 2026 was 26.65%.

What is Solar Industries India's return on equity?

Solar Industries India's return on equity stands at 31.50%. ROE measures profit generated per rupee of shareholder equity.

How many years of Solar Industries India financials are shown?

9 reported financial years are tabulated on this page, the most recent being Mar 2026.

Are these figures consolidated or standalone?

Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.

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Disclaimer

The data, ratios and commentary about Solar Industries India Limited (SOLARINDS) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.