Solar Industries India Ltd

Solar Industries India Ltd announced that ICRA Limited has reaffirmed its rating of [ICRA]A1+ on the outstanding Commercial Paper amounting to Rs 500.00 crore, maturing on September 23, 2026, while also providing a consolidated view of its subsidiary, Solar Defence and Aerospace Limited, with a rating of [ICRA]A1+; furthermore, ICRA noted an expected increase in consolidated acquisition debt levels, although management intends to maintain the consolidated net debt/OPBDITA below 2.0 times, with key monitorables including deleveraging and liquidity position, and the outstanding rating continues to factor in established market position, diversified presence, strong operating performance, and increasing contribution from the defence business.

Solar Industries India Ltd announced a credit rating update, though specific instrument details, amounts, and ratings were not provided in the communication. CRISIL Ratings has reaffirmed its ratings, including ratings on Long Term Bank Loans, Short Term Bank Loans, Commercial Paper, and Subordinated Debt, while also withdrawing ratings on Long Term Bank Loans and Short Term Bank Loans. India Ratings and Research has also reaffirmed its ratings on Long Term Bank Loans, Short Term Bank Loans, Commercial Paper, and Subordinated Debt, and has withdrawn ratings on Long Term Bank Loans and Short Term Bank Loans. CARE Ratings has reaffirmed its ratings on Long Term Bank Loans, Short Term Bank Loans, Commercial Paper, and Subordinated Debt, and has withdrawn ratings on Long Term Bank Loans and Short Term Bank Loans.

Solar Industries India Limited announced that its wholly-owned step-down subsidiary, Solar SA Investments Proprietary Limited, and Solar Overseas Mauritius Limited have entered into a definitive agreement to acquire 100% of the issued ordinary shares of Omnia Holdings Limited ("Omnia") for a cash consideration of ZAR 134.5 per share, totaling approximately US$1.355 billion. The acquisition, which is not considered a related party transaction, is expected to be completed in early to mid-2027, subject to regulatory approvals, and will create a global platform for commercial explosives and blasting solutions, expanding Solar Industries’ international presence and technological capabilities. Omnia, headquartered in Johannesburg, South Africa, reported a revenue of US$1.41 billion for the financial year ended March 31, 2026, and is listed on the Johannesburg Stock Exchange and A2X Markets, where it will be delisted upon completion of the acquisition.

Solar Industries India Ltd announced that ICRA Limited has reaffirmed the rating of [ICRA]A1+ for its Commercial Paper of Rs 500.00 crore, with a maturity date of November 28, 2025, and also provided a consolidated view of Solar Defence and Aerospace Limited (SDAL), a subsidiary, maintaining the [ICRA]A1+ rating; ICRA further noted healthy revenue growth of 30% projected for FY2026 at Rs 9,837.7 crore, an operating profit margin (OPM) around ~26% for FY2025 and FY2026, a total debt/OPBDITA ratio of around 0.6x in FY2026 and 0.8x in FY2025, an interest coverage ratio around 19.6x in FY2026 and 17.2x in FY2025, and expects margins to remain healthy in the range of 22-25% going forward, while also highlighting potential vulnerabilities due to foreign currency exchange rates, the regulatory framework, and ongoing legal proceedings, ultimately concluding that the credit profile remains robust with total debt/OPBDITA at 0.6x in FY2026.

Solar Industries India Ltd share price ticked higher by 2.08% to Rs 19064.0 after the company's net profit expanded by 19.84% to Rs 666.37 crore, while revenue from operations gained significantly 20.16% to Rs 3668.2 crore in Q2FY26 over Q1FY26. The market capitalization of Explosives industry group stocks on BSE stood at Rs 1.62 lakh crore, expanding by 18.55%. It has improved by 2.77% over last one week and heading higher by 11% in last one month while the market capitalization of Solar Industries India Ltd has marginally improved by 2.72% and 9.87% in the same period respectively. Profit before tax (PBT) of Solar Industries India Ltd stood at Rs 911.46 crore in Q2 FY26, surging by 89.59% year-on-year, and rallying 20.08% quarter-on-quarter. EBITDA came in at Rs 1007 crore, jumping 99.11% YoY and surging by 28.81% sequentially. Total expenses advancing by 18.91% to Rs 2732.75 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 1786.78 crore, soaring by 24.50% YoY, while employee benefits expense was at Rs 255.6 crore, easing 1.19% YoY. For the TTM ended FY26, revenue from operations soared by 30.47% to Rs 9837.74 crore, while net profit jumped 34.84% to Rs 1736.64 crore, compared to previous TTM. EBITDA surged by 195790% to Rs 2493.83 crore, and PBT witnessed a strong rise of 36.03% to Rs 2365.22 crore compared to previous TTM. The company's consolidated net cash flow from operating activities stood at Rs 620.87 crore in FY26, as against Rs 2467.56 crore in FY25. Solar Industries India Ltd soared by 30.67% in last one year, significantly outperforming the benchmark BSE Sensex which has softened by 2.83% during the same period.

Solar Industries India announced that the Board of Directors of the Company at its meeting held on 15 May 2026, inter alia, have recommended the final dividend of Rs 11 per equity Share (i.e. 550%) , subject to the approval of the shareholders.

Solar Industries India announced that the 31th Annual General Meeting(AGM) of the company will be held on 11 August 2026.

Net profit of Solar Industries India rose 69.95% to Rs 547.63 crore in the quarter ended March 2026 as against Rs 322.23 crore during the previous quarter ended March 2025. Sales rose 40.90% to Rs 3052.75 crore in the quarter ended March 2026 as against Rs 2166.55 crore during the previous quarter ended March 2025. For the full year,net profit rose 38.70% to Rs 1677.55 crore in the year ended March 2026 as against Rs 1209.44 crore during the previous year ended March 2025. Sales rose 30.47% to Rs 9837.74 crore in the year ended March 2026 as against Rs 7540.26 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales3052.752166.55 41 9837.747540.26 30 OPM %27.0624.79 -26.6526.00 - PBDT830.45514.86 61 2616.091920.24 36 PBT759.03464.37 63 2365.221738.74 36 NP547.63322.23 70 1677.551209.44 39 Powered by Capital Market - Live

Solar Industries India will hold a meeting of the Board of Directors of the Company on 15 May 2026.

Solar Industries India has received affirmation in credit ratings from CRISIL at CRISIL AA+/ Positive for bank facilities (Rs 1,479.50 crore) and non-convertible debentures (Rs 35 crore). The outlook on ratings has been upgrade from Stable to Positive.