NSE: SOLARINDS | BSE: 532725

Expensive Performer

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13951.00 142.00 (1.03%)

64.47% Gain from 52W Low

107.9K NSE+BSE Volume

NSE 20 Nov, 2025 3:54 PM (IST)

126,242.7

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.

14 May 2018

13951.00

1.03%

Solar Industries: Results exceed expectations led by robust overseas performance

Neutral: Solar Industries India Ltd.

Motilal Oswal

Consol. revenue rose 30% YoY to INR5.8b (est. of INR5.0b) in 4QFY18. EBIDTA grew 28.5% YoY to INR1.2b (est. of INR951m), with the EBIDTA margin of 20.5% (-30bps YoY) ahead of our estimate of 19.1%. Adj. net profit rose 21.1% YoY to INR678m (est. of INR547m). Performance beat was driven by a better-than-expected performance from the overseas and exports business segment. For FY18, revenue stood at INR19.2b (+21.3% YoY), operating profit at INR4.1b (+27.1% YoY) and adj. PAT at INR2.3b (+17.3% YoY).

Solar Industries India Ltd. has gained 39.74% in the last 1 Year

Solar Industries India Ltd.

08 Feb 2018

13951.00

1.03%

Solar Industries India

Hold: Solar Industries India Ltd.

ICICI Securities Limited

Solar Industries Ltd (SIIL) reported weak Q3FY18 numbers on account of muted domestic performance. Revenues came in at | 465.7 crore, up 7.5% YoY (our estimates | 487.8 crore). The company witnessed weak revenue growth due to volume de-growth of 5.7% in the bulk segment and realization decline of 7.4% and 7.7% in both bulk and cartridge segment respectively. The only silver lining was strong...

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.

08 Feb 2018

13951.00

1.03%

Performance impacted by weak demand from CIL

Neutral: Solar Industries India Ltd.

Target

Motilal Oswal

Operational performance below expectations: Consol. revenue rose 10% YoY to INR4.6b (est. of INR5.6b) in 3QFY18. EBIDTA grew 35% YoY to INR0.9b (est. of INR1.3b), with the margin improving 420bp YoY to 22.4%, helped by strong...

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.

02 Jan 2018

13951.00

1.03%

Solar Industries India Ltd.

Buy: Solar Industries India Ltd.

Ashika Research

Incorporated in 1996, Solar Industries India (SIIL) is the largest manufacturer and exporter of industrial explosives and explosive initiating systems in India. Bulk & packaged (cartridge) explosives and initiating systems fall under the umbrella of industrial explosives while its defence portfolio boasts of a wide range of products like propellants for rockets, pyros, fuses, military explosives, flares, riot control devices and many more. Initiating systems comprises of detonators, detonating fuses and cast...

Solar Industries India Ltd. is trading below its 50 day SMA of 13997.6

Solar Industries India Ltd.

06 Dec 2017

13951.00

1.03%

SOLAR INDUSTRIES (INDIA) LTD.

Buy: Solar Industries India Ltd.

Ventura

Solar Industries India Ltd. (SIIL) is the dominant player

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

Solar Industries India Ltd.

17 Nov 2017

13951.00

1.03%

EARNINGS - SOLAR INDUSTRIES 2QFY18

Neutral: Solar Industries India Ltd.

Target

Chola Wealth Direct

Sector: Chemicals /Small Cap | Earnings Update 2QFY18 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...

Solar Industries India Ltd.'s price crossed above 30Day SMA today

Solar Industries India Ltd.

17 Nov 2017

13951.00

1.03%

Solar Industries India

Hold: Solar Industries India Ltd.

Target

ICICI Securities Limited

Solar Industries (SIL) reported strong Q2FY18 numbers wherein revenues came in at | 408.4 crore, up 21.6% YoY (our estimate: | 365.2 crore). The company witnessed strong revenue growth due to strong volume growth of 18.3% and 26.2% in bulk and cartridge segment, respectively. Bulk & cartridge segment contributed 60-65% to the topline. However, realisations in both segments, bulk and cartridge witnessed a decline of 8% & 2%, respectively (after adjusting for excise duty and other taxes). The overseas segment also...

Solar Industries India Ltd.'s price crossed above 30Day SMA today

Solar Industries India Ltd.

16 Nov 2017

13951.00

1.03%

Solar Industries: Operational performance beat led by overseas busine

Neutral: Solar Industries India Ltd.

Target

Motilal Oswal

Operational performance meaningfully ahead of estimates: Consol. revenue increased 30% YoY to INR4.1b (est. of INR3.6b) in 2QFY18. EBIDTA grew 30% YoY to INR0.9b (est. of INR595m), with the margin stable YoY at 22.0%, supported by strong growth in the overseas business. Adj. net profit rose 23% YoY to INR483m (est. of INR304m). aided by strong growth in overseas segment: Consol. revenue was driven by strong growth in the overseas segment (+85% YoY). On the domestic front, housing and infrastructure segment sales grew 45% YoY. However, the quarter...

Solar Industries India Ltd.'s price crossed above 30Day SMA today

Solar Industries India Ltd.

22 Aug 2017

13951.00

1.03%

SOLAR INDUSTRIES 1QFY18 EARNINGS

Neutral: Solar Industries India Ltd.

Target

Chola Wealth Direct

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 16 locations and eight states in India. In recent years expanded its manufacturing base to Nigeria, Zambia and Turkey. SIIL has also interests in the coal mines (in Chattisgarh) through two JVs. Solar is...

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

Is Solar Industries India Ltd. worth buying?

173 Votes:

Buy 79.77%

Sell 12.14%

Hold 8.09%

RESEARCH REPORTS

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