Solar Industries India Ltd

Solar Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Solar Industries India Ltd

₹ 15,334 2.17%
23 May - close price
solargroup.com BSE: 532725 NSE: SOLARINDS
About

Solar Industries is one of the largest domestic manufacturers of bulk and cartridge explosives, detonators, detonating cords and components which find applications in the mining, infrastructure and construction industries.
Company manufactures high-energy explosives, delivery systems, ammunition filling and pyros fuses for the defence sector.[1]

Key Points

Product Segments
1) Industrial Explosives (86% in FY24 vs 91% in FY22): The company manufactures bulk explosives, packaged explosives, and initiating systems, finding applications in the mining, infrastructure, construction, Defence, and Space Sector. [1]

Website BSE NSE
  • Market Cap ₹ 1,38,757 Cr.
  • Current Price ₹ 15,334
  • High / Low ₹ 15,399 / 7,888
  • Stock P/E 173
  • Book Value ₹ 339
  • Dividend Yield 0.06 %
  • ROCE 37.3 %
  • ROE 29.7 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 30.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29.1%

Cons

  • Stock is trading at 45.2 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Aerospace & Defence Industry: Chemicals

Part of BSE 500 BSE 200 Nifty 500 BSE MidCap Nifty Midcap 100

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
916 988 862 1,059 1,253 983 830 902 1,002 1,045 905 1,207 1,299
773 882 733 903 1,016 790 631 710 751 786 674 918 981
Operating Profit 144 106 129 155 238 193 199 192 250 258 231 290 318
OPM % 16% 11% 15% 15% 19% 20% 24% 21% 25% 25% 26% 24% 24%
15 18 13 22 3 14 14 18 13 26 32 12 15
Interest 3 3 4 9 12 8 6 8 8 6 7 8 8
Depreciation 15 14 14 14 15 15 16 16 16 17 18 19 21
Profit before tax 140 108 124 154 215 184 191 186 239 261 238 274 304
Tax % 27% 26% 26% 25% 26% 25% 26% 26% 25% 26% 25% 26% 25%
102 80 92 116 158 137 141 138 179 194 177 204 227
EPS in Rs 11.31 8.83 10.16 12.77 17.47 15.19 15.60 15.29 19.82 21.46 19.61 22.59 25.09
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
856 950 1,016 1,137 1,273 1,663 1,512 1,584 2,528 4,160 3,718 4,457
733 794 832 920 1,046 1,350 1,248 1,312 2,153 3,529 2,882 3,359
Operating Profit 123 155 184 217 228 313 263 272 375 631 836 1,097
OPM % 14% 16% 18% 19% 18% 19% 17% 17% 15% 15% 22% 25%
7 10 14 13 18 15 35 26 36 54 57 84
Interest 14 7 8 14 14 12 12 7 9 28 30 29
Depreciation 13 18 18 19 26 29 34 38 49 57 63 75
Profit before tax 103 140 173 197 205 287 252 253 353 600 800 1,077
Tax % 18% 23% 37% 33% 35% 33% 15% 25% 26% 26% 25% 25%
84 108 109 133 134 191 213 189 262 445 596 803
EPS in Rs 9.26 11.92 12.03 14.65 14.84 21.16 23.58 20.89 28.90 49.22 65.90 88.75
Dividend Payout % 26% 29% 37% 34% 40% 33% 25% 29% 26% 16% 13% 11%
Compounded Sales Growth
10 Years: 17%
5 Years: 24%
3 Years: 21%
TTM: 20%
Compounded Profit Growth
10 Years: 21%
5 Years: 30%
3 Years: 45%
TTM: 35%
Stock Price CAGR
10 Years: 36%
5 Years: 77%
3 Years: 81%
1 Year: 53%
Return on Equity
10 Years: 25%
5 Years: 26%
3 Years: 29%
Last Year: 30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 18 18 18 18 18 18 18 18 18 18 18 18
Reserves 438 506 530 641 741 867 1,003 1,139 1,347 1,749 2,328 3,049
254 155 176 246 152 171 129 127 156 424 318 196
112 114 176 145 190 236 234 317 488 577 571 1,172
Total Liabilities 821 793 900 1,050 1,101 1,292 1,384 1,600 2,009 2,769 3,235 4,436
275 288 351 403 420 470 545 558 706 779 811 1,139
CWIP 8 20 12 16 35 74 32 130 41 78 219 112
Investments 69 59 66 102 66 92 130 129 146 226 667 859
469 426 470 528 581 656 677 784 1,116 1,685 1,538 2,325
Total Assets 821 793 900 1,050 1,101 1,292 1,384 1,600 2,009 2,769 3,235 4,436

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
82 150 174 70 213 210 195 148 294 133 770 1,054
-39 -53 -109 -100 -78 -129 -10 -99 -280 -271 -548 -691
-13 -118 -65 36 -139 -65 -142 -66 -36 173 -216 -232
Net Cash Flow 30 -21 0 6 -4 16 43 -18 -22 35 5 131

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 60 44 48 57 45 41 50 68 43 47 59 64
Inventory Days 48 27 36 38 40 32 38 51 56 56 42 56
Days Payable 25 23 41 18 26 29 40 67 69 48 53 26
Cash Conversion Cycle 83 49 43 77 59 43 47 52 30 55 48 94
Working Capital Days 91 75 70 77 58 43 59 63 47 64 67 79
ROCE % 19% 23% 26% 26% 24% 31% 24% 21% 26% 34% 34% 37%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
73.15% 73.15% 73.15% 73.15% 73.15% 73.15% 73.15% 73.15% 73.15% 73.15% 73.15% 73.15%
6.63% 6.64% 6.72% 6.63% 5.79% 5.89% 5.90% 6.10% 7.56% 7.53% 7.23% 5.82%
14.73% 14.60% 14.45% 14.32% 15.01% 15.24% 15.05% 14.52% 12.74% 12.68% 12.78% 14.10%
5.50% 5.61% 5.67% 5.91% 6.04% 5.71% 5.88% 6.22% 6.54% 6.64% 6.82% 6.92%
No. of Shareholders 31,87239,40449,24751,94351,19950,10357,92664,37772,85378,40283,95995,380

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

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