Solar Industries India is pushing beyond its home market with new overseas plants and a growing defense pipeline, aiming to turn that into steadier growth and stronger profits. But its exposure to government contracts and volatile regions could quickly derail the story if orders slow or disruptions hit.Read more

₹19.38k

1.8% undervalued

AnalystConsensusTarget's

Fair Value

Revenue

26.13% p.a.

Profit Margin

18.71%

Future PE

67.48x

Price in 2029

₹27.54k

Solar Industries India

Defense Capacity Expansion And Global Reach Will Drive A Stronger Long Term Story

Solar Industries India is shifting from mining explosives into defence, backed by expanding capacity, big orders, and new products aimed at more complex ammunition and systems. The upside is a stronger, more global business, but it hinges on defence programs arriving on time and large investments paying off in tougher overseas markets and volatile input costs.Read more

₹22k

13.5% undervalued

AnalystHighTarget's

Fair Value

Revenue

30.92% p.a.

Profit Margin

17.55%

Future PE

73.44x

Price in 2029

₹31.44k

Trending Discussion

No trending discussion available.

Snowflake Analysis

Flawless balance sheet with high growth potential.

1 Risk

2 Rewards

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Solar Industries India Limited Key Details

Last Reported Earnings

Mar 31, 2026

Next Reporting Earnings

n/a

: 185.39
: 50.26%
: 17.05%
: 22.4%

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About SOLARINDS

Founded: 1983
Employees: 2403
CEO: Manish Nuwal
WebsiteView website: www.solargroup.com

Solar Industries India Limited, together with its subsidiaries, engages in the manufacture and sale of industrial explosives and explosive initiating devices in India and internationally. It offers industrial explosives, such as bulk and packaged explosives; and initiating systems, including electronic, electric, non-electric, and plain detonators, as well as cord relays, cast boosters, detonating cords, and aluminum elemented det products. The company provides defense products, including unmanned aerial systems and drones, ammunitions, high energy materials, bombs and warheads, rockets and missiles, initiating systems and detonix, chaffs and flares, and mines devices. Its products are used in mining, infrastructure, construction, defence, and the space sectors. The company was formerly known as Solar Explosives Limited and changed its name to Solar Industries India Limited in February 2009. The company was founded in 1983 and is based in Nagpur, India.