Debut Plus

₹18,467

▲ +66.24 +0.36%

18 Jul 2026

NSE Listed · Aerospace & Defence

Solar Industries (I) Ltd. (SOLARINDS)

Volume: 3,363Avg Vol 1W: 42,130Avg Vol 1M: 75,23652W Range:₹11,646₹18,972
NSE BSE www.solargroup.com
Key Ratios
Checked just now
Market Cap₹1,67,108 Cr
Current Price₹18,467
Previous Close₹18,400.76
High / Low (52w)₹18,972 / ₹11,646
Volume3,363
Avg Vol (1W)42,130
Avg Vol (1M)75,236
Stock P/E99.61
Book Value₹693.69
Dividend Yield6%
ROE26.72%
ROA15.91%
Revenue (TTM)—
Revenue Growth24.23%
Profit Margin17.05%
Total Debt₹381 Cr
Shares Outstanding9 Cr
Face Value₹2
EPS (TTM)₹185.39
P/B26.62
Debt / Equity0.27
50 DMA₹18,029.87
200 DMA₹15,992.4
Day change+0.36%
Price Chart
₹18,467▲ 38.03% · 1Y
₹18696₹117728.2L
2025-11-24
2026-07-17

20-day avg volume: 77K shares

Pros
  • Healthy return on equity of 26.7%.
  • Pays a dividend yield of 6.0%.
  • Company is almost debt-free.
  • Revenue grew 24% YoY.
  • Net profit is growing year over year.
Cons
  • Stock trades at a high P/E of 100.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue₹1,685 Cr₹1,716 Cr₹1,973 Cr₹2,167 Cr₹2,154 Cr₹2,082 Cr₹2,548 Cr₹3,053 Cr
EBITDA₹434 Cr₹432 Cr₹489 Cr₹496 Cr₹508 Cr₹521 Cr₹670 Cr₹799 Cr
Net Profit₹286 Cr₹286 Cr₹315 Cr₹322 Cr₹339 Cr₹345 Cr₹446 Cr₹548 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹1,928 Cr₹2,476 Cr₹2,278 Cr₹2,537 Cr₹3,967 Cr₹6,954 Cr₹6,114 Cr₹7,611 Cr
EBITDA₹372 Cr₹458 Cr₹391 Cr₹442 Cr₹658 Cr₹1,192 Cr₹1,270 Cr₹1,850 Cr
Net Profit₹221 Cr₹262 Cr₹267 Cr₹276 Cr₹441 Cr₹757 Cr₹836 Cr₹1,209 Cr
EPS24.3728.9129.5530.5448.7783.6892.38133.65
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹1,995 Cr₹2,282 Cr₹2,532 Cr₹3,030 Cr₹3,724 Cr₹5,036 Cr₹5,737 Cr₹8,261 Cr
Total Liabilities₹864 Cr₹996 Cr₹1,101 Cr₹1,388 Cr₹1,709 Cr₹2,286 Cr₹2,310 Cr₹3,725 Cr
Equity₹1,131 Cr₹1,286 Cr₹1,432 Cr₹1,642 Cr₹2,015 Cr₹2,751 Cr₹3,427 Cr₹4,537 Cr
Total Debt————————
Cash Flow
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹344 Cr₹443 Cr₹433 Cr₹461 Cr₹457 Cr₹911 Cr₹1,706 Cr₹2,871 Cr
Investing₹-174 Cr₹-202 Cr₹-212 Cr₹-251 Cr₹-303 Cr₹-519 Cr₹-727 Cr₹-1,593 Cr
Financing₹-53 Cr₹-52 Cr₹-34 Cr₹-26 Cr₹-45 Cr₹118 Cr₹-370 Cr₹-476 Cr
Free Cash Flow₹344 Cr₹443 Cr₹433 Cr₹461 Cr₹457 Cr₹911 Cr₹1,706 Cr₹2,871 Cr
Shareholding
Promoter 73.15% Institutions 19.76% Public 7.1%
Efficiency & Working Capital
ROCE29.1%
Interest Coverage15.9
Dividend Payout—
Debtor Days60 d
Inventory Days50 d
Payable Days24 d
Cash Conversion Cycle86 d
Working Capital Days110 d
Shareholding Details

As of 2026-03-31

Promoter73.1%
FII6.6%
DII12.9%
Institutions19.5%
Public7.4%
Promoter Pledge1.8%
No. of Shareholders1,15,917
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodJun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Promoters73.1%73.1%73.1%73.1%73.1%73.1%73.1%73.1%73.1%73.1%73.1%73.1%
FIIs5.8%5.9%5.9%6.1%7.6%7.5%7.2%5.8%6.8%7.1%6.7%6.6%
DIIs15%14.9%14.8%14.5%12.7%12.7%12.8%14.1%13.6%12.9%12.9%12.9%
Public6%6%6.2%6.2%6.6%6.6%6.8%6.9%6.5%6.9%7.2%7.4%
Promoter Pledge0%0%0%0.6%0.6%0.6%0.6%1.5%1.5%1.5%1.5%1.8%
No. of Shareholders51,19950,10357,92664,37772,85378,40283,95995,38097,7121,05,0141,13,8691,15,917
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Manish Satyanarayan NuwalShareholding of Promoter and Promoter Group38.9%3.52 Cr
Sohan Devi Nand Lal Nuwal Family TrustShareholding of Promoter and Promoter Group29.2%2.65 Cr
Sbi Equity Hybrid FundPublic Shareholding3.6%32,51,372
Satyanarayan Nandlalji NuwalShareholding of Promoter and Promoter Group3.6%32,38,254
Kotak Flexicap FundPublic Shareholding2.9%25,79,213
Seema Manish NuwalShareholding of Promoter and Promoter Group1.4%12,43,440
Axis Mutual Fund Trustee Limited A/c Axis Mutual Fund A/c Axis Midcap FundPublic Shareholding1.2%10,53,013
Rahul NuwalShareholding of Promoter and Promoter Group0%25,315
Leeladevi Satyanarayan NuwalShareholding of Promoter and Promoter Group0%1,000
Sohandevi NuwalShareholding of Promoter and Promoter Group0%0
Raghav Manish NuwalShareholding of Promoter and Promoter Group0%0
Harshwardhan Manish NuwalShareholding of Promoter and Promoter Group0%0
Kailash Chandra NuwalShareholding of Promoter and Promoter Group0%0
Indira Kailashchandra NuwalShareholding of Promoter and Promoter Group0%0
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Manish Satyanarayan Nuwal10,54,3063%2026-03-31
Satyanarayan Nandlalji Nuwal00%2026-03-31
Seema Manish Nuwal1,09,9508.8%2026-03-31
Rahul Nuwal00%2026-03-31
Leeladevi Satyanarayan Nuwal00%2026-03-31
Sohandevi Nuwal00%2026-03-31
Raghav Manish Nuwal00%2026-03-31
Harshwardhan Manish Nuwal00%2026-03-31
Kailash Chandra Nuwal00%2026-03-31
Indira Kailashchandra Nuwal00%2026-03-31
Sohan Devi Nand Lal Nuwal Family Trust00%2026-03-31
Axis Mutual Fund Trustee Limited A/c Axis Mutual Fund A/c Axis Midcap Fund00%2026-03-31
Board of Directors
NameDesignationYear
Satyanarayan NuwalChairman (Non-Executive)2025
Manish NuwalManaging Director & Chief Executive Officer2025
Khushboo PasariCompany Sec. & Compli. Officer2025
Suresh MenonWhole-time Director2025
Milind DeshmukhWhole-time Director2025
Natrajh RamakrishnaIndependent Director2025
Rashmi PrasadIndependent Director2025
Dinesh Kumar BatraIndependent Director2025
Girija BalakrishnanAdditional Director2025
L ViswanathanAdditional Director2025
Ramesh BhujangAdditional Director2025
Reena Jha TripathiAdditional Director2025
Segments — Product
SegmentRevenueShare
Explosives₹456 Cr85.3%
Trading₹51 Cr9.6%
Others₹27 Cr5.1%
Segments — Geography
RegionRevenueShare
India₹2,766 Cr63.5%
Outside India₹1,588 Cr36.5%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹2271818
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-28Dividend (11/- per share)Final
dividend2025-07-08₹10 (500%)Final
forthcoming—Book ClosureAGM & 550% Final Dividend
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
20253,699002903,729
20252,69400002,694
202530800290337
Insider / Designated-Person Trades

8 recent disclosure(s)

Sohan Devi Nand Lal Nuwal Family TrustAcquisition · 2,64,51,193
Smt. Indira Kailashchandra NuwalDisposal · 55,68,230
Shri Kailash Chandra NuwalDisposal · 2,08,82,963
Manish Satyanarayan Nuwal RevisedAcquisition · 1,00,00,000
Satyanarayan Nandlal Nuwal RevisedDisposal · 1,00,00,000
Manish Satyanarayan Nuwal RevisedAcquisition · 1,00,00,000
Substantial Acquisitions (SAST)

4 disclosure(s)

Inter-se Transfer / Gift06/12/2021 · 1,00,00,000
Inter-se Transfer / Gift06/12/2021 · 1,00,00,000
Inter-se Transfer / Gift06/12/2021 · 1,00,00,000
-06/12/2021 · 1,00,00,000
Company Information
Incorporated1995
ChairmanSatyanarayan Nuwal
AuditorS R B C & Co LLP/Gandhi Rathi & Co
Investor Email[email protected]; investor.relations@solargrou
🌐 www.solargroup.com ↗

📍 Solar House 14 Kachimet, Amravati Road, Nagpur, Maharashtra, 440023

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