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Informist, Friday, May 15, 2026

By Gunjan Rajput

NEW DELHI –  Solar Industries India Ltd. reported a sharp year-on-year increase in net profit for the March quarter, registering its sharpest jump in bottom line in the last nine quarters. The increase in net profit was propped up by strong revenue growth and margin expansion. The March quarter revenue growth was the strongest in the last eight quarters. Both revenue and net profit were above analyst's consensus estimate.

The explosives and defence equipment maker's consolidated net profit rose about 70% on year to INR 5.48 billion for the March quarter and above analysts' estimate of INR 5.19 billion. The consolidated revenue rose nearly 41% on year to INR 30.53 billion, exceeding analysts' estimate of INR 29.21 billion. The company's operating margin expanded to 24.76% in the quarter from 22.46% a year ago. 

The company's total expenses rose over 37% on year to INR 23.40 billion, from INR 17.06 billion a year ago. Expenses related to the cost of material consumed, which accounts for nearly 61% of the total expenses, rose nearly 53% on year to INR 14.35, and other expenses rose over 64% on year to INR 4.53 billion. The employee benefits expenses rose over 45% on year to INR 2.53 billion, and expenses related to the purchase of stock-in-trade declined over 11% to INR 1.65 billion. 

For Jan-Mar, the company's consolidated earnings before interest, tax, depreciation, and amortisation rose 59% on year to INR 8.70 billion from INR 5.46 billion a year ago, and EBITDA margin expanded to 28.51% from 25.21% a year ago.

"These numbers were propelled by strong sales from international and defence businesses, relentless focus on our high-value chain products and operational efficiencies," Manish Nuwal, managing director and chief executive officer, said in the presentation. 

For the March quarter, the company reported the highest-ever defence revenue of INR 10.08 billion. "The defence vertical is steadily maturing into a powerful standalone platform, driving deep-tech innovation enabling significant future growth potential," Nuwal said. 

Solar Industries India reported revenue of INR 98.38 billion for the financial year 2025-26 (Apr-Mar) and expects revenue to rise to INR 140 billion in FY27. The company has guided for incurring a capital expenditure of INR 20.50 billion in FY27. The company said its current order book stands at over INR 213 billion, and it aims to cross defence revenue of INR 45 billion in FY27, as mentioned in its investor presentation. 

For FY26, Solar Industries' consolidated net profit rose nearly 40% on year to INR 16.78 billion. The company's board recommended a final dividend of INR 11 per share for FY26. The record date for the dividend has been fixed as Jul. 28. 

At 1430 IST, the shares of the company were trading at INR 16,794 on the National Stock Exchange, up 0.8%, after the company announced its earnings during the market hours. Friday, shares of the company ended at INR 17,314 on the National Stock Exchange, up nearly 4%.   End

 
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Tanima Banerjee

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