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.
Q3 FY26 Earnings Results
- Revenue from Operations: ₹2,548.32 cr, +29.1% YoY vs ₹1,973.08 cr in Q3 FY25, strong top-line growth.
- PAT: ₹466.67 cr, +40% YoY (vs ₹352 cr in Q3 FY25).
- Other key metrics:
• PBT: ₹490 cr range supported by net profit trends.
• EPS: ₹49.3 per share (approx).
• Order Book: Strong at ₹21,200 cr+, underpinned by defence & large institutional demand (as highlighted in reports).
Management Commentary & Strategic Decisions
- Management emphasised robust sales and profitability growth across key business verticals, especially driven by defence and international market demand, reinforcing its position in explosive products & defence supply chains.
- Leadership highlighted an expanding order book, notably from Coal India, SCCL and defence sector contracts, bolstering near-term revenue visibility.
- Strategic execution on acquisitions (e.g., Problast Group) with finalized purchase price allocation reflects positioning for broader global footprint.
- The company continues to scale high-value segments and diversify geographies, with focus on margin expansion and operational leverage, likely to feature in earnings call insights.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹2,082.22 cr, +21% YoY, -3.3% QoQ, strong year-on-year demand, mild sequential seasonality.
- EBITDA: ₹582 cr, +22% YoY; EBITDA Margin: 27.9%, record quarterly EBITDA highlighting operational efficiency.
- PAT: ₹361.45 cr, +19% YoY, +2.5% QoQ; PAT Margin: 17.4%.
- Other key metrics:
• PBT: ₹490.46 cr, +22% YoY.
• EPS: ₹38.12.
Management Commentary Q2
- Manish Nuwal (MD & CEO) underlined record quarterly EBITDA and PAT driven by defence and international revenue, “highest ever quarterly EBITDA of ₹582 cr and PAT of ₹361 cr” reflecting strong execution.
- Defence segment reported significant growth with revenue crossing ₹500 cr, while international business hit ₹960 cr, showcasing global expansion and diversified fuel for future quarters.
- Management noted domestic mining and coal market softness due to monsoon impacts but reinforced confidence in annual guidance supported by international and defence order strength.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.