NSE: SOLARINDS | BSE: 532725

Expensive Performer

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13969.00 160.00 (1.16%)

64.68% Gain from 52W Low

46,024 NSE+BSE Volume

NSE 20 Nov, 2025 12:39 PM (IST)

126,405.6

Market Cap

Market Leader

0.9

Beta 1Year

Low volatility

Order Win

Solar Ind bags export orders worth Rs 1,400 crore from overseas clients to supply defence products See details

Solar Industries India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SOLARINDS, BSE:532725 Solar Industries India Ltd.

Solar Industries India Ltd.

10 May 2019

13969.00

1.16%

n-line performance; defense showing traction

Neutral: Solar Industries India Ltd.

Target

Motilal Oswal

Operational performance in line with expectations: 4QFY19 consol. revenue increased 17.0% YoY to INR6.7b (v/s our estimate of INR6.8b), supported by growth in volume (10%) and realization (5%). EBIDTA grew 21% YoY to INR1.4b (in-line with our estimate of INR1.4b). Margin improved 60bp YoY to 21.1% (marginally below our estimate of 21.3%) due to (a) raw material price (ammonium nitrate) increase not being completely passed on to the end consumer, and (b) forex loss of INR17m being impacted due to INR appreciation. Adj. net profit grew 18% YoY to INR776m (ahead of our estimate...

Number of FII/FPI investors increased from 487 to 499 in Sep 2025 qtr.

Solar Industries India Ltd.

10 May 2019

13969.00

1.16%

EARNING UPDATE-SOLAR INDUSTRIES 4QFY19

Buy: Solar Industries India Ltd.

Target

Chola Wealth Direct

Sector: Chemicals /Small Cap | Earnings Update 4QFY19 Background: Established in 1995, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world's largest manufacturing facility for packaged explosives. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 51 countries around the world. Economic Explosives, a 100% subsidiary, manufactures detonators. Solar has manufacturing facilities spread across 25 locations and eight states in India. In recent years expanded its manufacturing base to Nigeria, Zambia, South...

Solar Industries India Ltd. has gained 39.92% in the last 1 Year

Solar Industries India Ltd.

29 Mar 2019

13969.00

1.16%

Solar Ind

Buy: Solar Industries India Ltd.

Keynotes Financial Opiniery

1. Founded in 1955 by Shri Satyanarayan Nandlal Nuwal. 2. Solar Group is a leading company with the global marketplace in the explosive business. With an...

Solar Industries India Ltd. has gained 39.92% in the last 1 Year

Solar Industries India Ltd.

01 Feb 2019

13969.00

1.16%

Solar Industries India

Hold: Solar Industries India Ltd.

Target

ICICI Securities Limited

Industrial explosives segment (54.1% of topline) reported growth of 43% YoY. Overseas and exports segment (37% of topline) grew 42.3% YoY to | 239 crore. Revenues from the defence segment were...

Solar Industries Ind.. has an average target of 16950.00 from 2 brokers.

Solar Industries India Ltd.

01 Feb 2019

13969.00

1.16%

EARNINGS UPDATE-SOLAR INDUSTRIES 3QFY19

Solar Industries India Ltd.

Chola Wealth Direct

Solar Industries India Ltd. is trading above its 200 day SMA of 13452.7

Solar Industries India Ltd.

01 Nov 2018

13969.00

1.16%

EARNINGS UPDATE-SOLAR INDUSTRIES 2QFY19

Buy: Solar Industries India Ltd.

Recommendation Target

Chola Wealth Direct

Number of FII/FPI investors increased from 487 to 499 in Sep 2025 qtr.

Solar Industries India Ltd.

31 Oct 2018

13969.00

1.16%

Solar Industries India

Hold: Solar Industries India Ltd.

Target

ICICI Securities Limited

Solar Industries (SIL) reported Q2FY19 numbers that were above our estimates. Revenues came in at | 520.9 crore, up 27.5% YoY (our estimates | 496.3 crore). This was due to strong growth in overseas and exports' markets. The same grew 28% YoY to | 219.6 crore. Overseas and exports', which normally contribute ~30% to topline, contributed 42.1% to the topline in Q2FY19 Industrial explosives segment has reported 10% YoY growth (1% volume growth and 9% realisation growth) for the quarter. Revenues...

Solar Industries India Ltd. has gained 39.92% in the last 1 Year

Solar Industries India Ltd.

02 Aug 2018

13969.00

1.16%

Solar Industries India

Hold: Solar Industries India Ltd.

Target

ICICI Securities Limited

Solar Industries (SIL) reported Q1FY19 numbers that were above our estimates. Revenues came in strong at | 614.7 crore, up 31.7% YoY (our estimate: | 541 crore). This was due strong growth in overseas and exports' markets. The same grew 32% YoY to | 237 crore. Overseas and exports'. This segment has contributed 38.7% to the topline in Q1FY19 (against 25-30% contribution in earlier years). The...

Solar Industries India Ltd. has gained 39.92% in the last 1 Year

Solar Industries India Ltd.

02 Aug 2018

13969.00

1.16%

EARNINGS UPDATE-SOLAR INDUSTRIES-1QFY19

Neutral: Solar Industries India Ltd.

Target

Chola Wealth Direct

Sector: Chemicals /Small Cap | Earnings Update 1QFY19 Background: Established in 1984, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 19 countries in Africa and South East Asia. Economic Explosives, a 100% subsidiary, manufactures detonators. Solar has manufacturing facilities spread across 25 locations and eight states in India. In recent years expanded its manufacturing base to Nigeria, Zambia, South Africa and Turkey. SIIL has also interests in the coal...

ICICI Securities Limited released a Buy report for Solar Industries India Ltd. with a price target of 17200.0 on 12 Nov, 2025.

Solar Industries India Ltd.

01 Aug 2018

13969.00

1.16%

Results above expectations; growth witnessed across segments

Neutral: Solar Industries India Ltd.

Target

Motilal Oswal

1 August 2018 20.9%, missing our estimate of 21.9%. Operating margin was impacted by INR120m forex loss, adjusting for which operating margin was healthy at Performance beat was driven by better-than-expected performance from the overseas and exports business segment. supported by all segments except the institutional segment (14% of sales; +2% YoY). Sales from CIL registered 26% YoY growth, supported by increase in production of coal, infrastructure segment contributed 33% YoY growth, and overseas segment registered 32.5% YoY growth. Explosives segment (bulk + cartridge) registered revenue growth of 17% YoY, supported by volume growth of 8.7%. During the quarter realization improved by 7.5% on YoY basis. business was INR280m (v/s INR4.5m in 1QFY18), driven by pickup in execution of orders in hand. SOIL expects revenue contribution to reach INR2b in FY19 as compared to INR378m in FY18. Defense order backlog stands at INR2.

Solar Industries India Ltd. is trading above its 200 day SMA of 13452.7

Is Solar Industries India Ltd. worth buying?

173 Votes:

Buy 79.77%

Sell 12.14%

Hold 8.09%

RESEARCH REPORTS

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