Solar Industries India stock | 2026 earnings growth & current analysis

Solar Industries Ind...

NSEI:SOLARINDS

Rp 12.890,00

Rp0,00 (0,00%)

12.890,00 Rp

Rp0,00 (0,00%)

End-of-day quote: 03/27/2026

Solar Industries India Stock Value

Analysts currently rate NSEI:SOLARINDS as Buy.

Buy

Solar Industries India Company Info

EPS Growth 5Y

35,23%

Market Cap

Rp1.166,42 B

Long-Term Debt

Rp3,94 B

Annual earnings

05/02/2026 (E)

Dividend

Rp10,31

Dividend Yield

0,08%

Founded

1983

Industry

Materials

Country

India

Website

Solar Industries India

ISIN Number

INE343H01029

Website

http://solargroup.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Rp16.600,00

28.78%

Last Update: 03/28/2026

Analysts: 9

Highest Price Target Rp18.900,00

Average Price Target Rp16.600,00

Lowest Price Target Rp15.360,00

In the last five quarters, Solar Industries India’s Price Target has risen from Rp8.019,47 to Rp11.698,00 - a 45,87% increase. Eight analysts predict that Solar Industries India’s share price will increase in the coming year, reaching Rp16.600,00. This would represent an increase of 28,78%.

Top growth stocks in the materials sector (5Y.)

What does Solar Industries India do?

Solar Industries India Limited, together with its subsidiaries, engages in the manufacture and sale of industrial explosives and explosive initiating devices in India and internationally. Business Segments The company operates through Mining Explosives, Defense Solutions, and Industrial Explosives. Mining Explosives The Mining Explosives segment has experienced significant growth due to increased mining activities in India. The company manufactures a comprehensive range of explosives, includ...

Solar Industries India Limited, together with its subsidiaries, engages in the manufacture and sale of industrial explosives and explosive initiating devices in India and internationally.

Business Segments

The company operates through Mining Explosives, Defense Solutions, and Industrial Explosives.

Mining Explosives

The Mining Explosives segment has experienced significant growth due to increased mining activities in India. The company manufactures a comprehensive range of explosives, including ANFO (Ammonium Nitrate Fuel Oil) and emulsions tailored to meet various mining requirements. The company invests heavily in research and development to innovate and enhance the efficiency and safety of explosives used in mining operations, addressing the evolving challenges in the sector.

Defense Solutions

The Defense Solutions segment focuses on providing ordnance and equipment for defense applications. The company supplies a range of munitions, including large and medium caliber weapons, bombs, and mines, adhering to the highest standards of quality and performance. The company has aligned itself with government defense initiatives, contributing to bolstering national defense capabilities through reliable products.

Industrial Explosives

The Industrial Explosives segment, the company caters to infrastructure development projects and various construction applications. The company provides specialized explosives designed for precise dismantling of structures, emphasizing its involvement in national development and infrastructure enhancement.

Business Strategy

The company's business strategy is centered around sustained value creation while ensuring the highest standards of safety and quality. Key elements include substantial investment in innovation and technology development, aimed at creating cutting-edge products that meet customer demands and comply with stringent safety standards. The company strategically diversifies its product offerings and geographical presence, exploring new markets beyond India and enhancing production capabilities with advanced technology. The company emphasizes a customer-centric approach, conducting regular satisfaction surveys to adapt its offerings based on client feedback. Furthermore, it prioritizes sustainability and environmental responsibility, implementing eco-friendly production techniques and responsible sourcing of materials. Workforce development is also a focus, with extensive training programs to cultivate a highly skilled workforce capable of addressing evolving market challenges.

Products and Services

The company offers a diverse range of products and services designed to meet the needs of various sectors. The core offering includes a wide variety of explosives, such as water-resistant emulsions, gelatinous explosives, and detonators, ensuring high performance across robust mining operations. Additionally, the company provides advanced defense equipment, including bombs, anti-tank mines, and sea mines, specifically tailored to meet the stringent requirements of the Indian defense sector. Beyond products, the company also offers engineering and logistical support, ensuring clients receive comprehensive assistance for effective utilization of their products. The commitment to research and development further reinforces the company’s position as a leader in innovation within the explosives industry, allowing for tailored solutions that address specific customer needs.

Geographical Markets Served

The company primarily serves the Indian market while also expanding its footprint internationally. The company has ventured into markets across Africa, Europe, and Asia, often establishing subsidiaries to better serve these regions. This expansion strategy allows the company to capitalize on growth opportunities and respond swiftly to demand fluctuations in the international marketplace.

Seasonality

The operations of the company may exhibit seasonality influenced by geographical and governmental factors related to mining activities and project timelines. Typically, demand for explosives peaks during specific periods associated with agricultural development, infrastructure enhancements, and seasonal mining activities. Additionally, the company’s strategic planning accommodates these seasonal variations to optimize production and distribution processes, thus maintaining a steady flow of products throughout the year.

Customers

The company serves a diverse customer base including coal mining companies, construction and infrastructure firms, and defense and security agencies. A significant portion of its customers is linked to Coal India Limited and various non-CIL entities focusing on mining operations. The company also partners with numerous construction companies involved in large-scale projects that require specialized blasting solutions, while directly supplying products to state and national defense organizations.

Sales and Marketing Channels

The company employs a combination of direct sales and partnerships with distributors as part of its sales and marketing strategies. Marketing efforts focus on establishing brand credibility and visibility through various channels, including exhibitions, trade shows, digital marketing, and strategic partnerships. The distribution channels developed by the company facilitate timely delivery and ensure product availability across markets, enhancing customer satisfaction and operational efficiency.

History

The company was founded in 1983. It was incorporated in 1995. The company was formerly known as Solar Explosives Limited and changed its name to Solar Industries India Limited in February 2009.

Solar Industries India Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by sectors:** 1. Defense: 40% 2. Mining: 35% 3. Construction: 15% 4. Other: 10% **TOP 3 markets and their percentage shares:** 1. India: 50% 2. Middle East: 25% 3. Africa: 15% Solar Industries India Limited generates the majority of its revenue from the defense and mining in...

At which locations are the company’s products manufactured?

**Production Sites:** - Nagpur, Maharashtra, India - Korba, Chhattisgarh, India - Bhandara, Maharashtra, India - Additional sites in India and internationally Solar Industries India Limited mainly produces its products in India, with multiple production facilities in different states such as Mahara...

What strategy does Solar Industries India pursue for future growth?

**Revenue Growth:** 18% (2024) **Market Expansion:** Entry into new international markets **Product Innovation:** Development of environmentally friendly explosives Solar Industries India Limited is pursuing a growth strategy focusing on tapping into new international markets. In recent years, th...

Which raw materials are imported and from which countries?

**Main Imported Raw Materials:** Ammonium nitrate, sulfur, aluminum **Countries of Origin:** - **Ammonium nitrate:** Russia, Ukraine - **Sulfur:** Saudi Arabia, United Arab Emirates - **Aluminum:** China, Australia Solar Industries India Limited imports a variety of raw materials required for the...

How strong is the company’s competitive advantage?

**Market share in India:** 25% (2024, estimated) **Export share of total revenue:** 30% (2024) **Research & Development investments:** 5% of revenue (2024) Solar Industries India Limited has a significant competitive advantage in the explosives industry, especially in India, where the compa...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** 23.5% (2025, estimated) **Insider Buys/Sells:** No significant changes (2025, estimated) The institutional investor share in Solar Industries India Limited is estimated to be around 23.5%. This indicates a moderate interest from institutional investors, which may...

What percentage market share does Solar Industries India have?

**Market share of Solar Industries India Limited:** Estimated around 25% (2025) **Top competitors and their market shares:** 1. **Solar Industries India Limited:** 25% 2. **Orica Limited:** 20% 3. **Dyno Nobel:** 15% 4. **Austin Powder Company:** 10% 5. **AEL Mining Services:** 8% 6. **EPC Groupe:*...

Is Solar Industries India stock currently a good investment?

**Revenue Growth:** 18% (2024) **Profit Growth:** 16% (2024) **Market Share in the Indian Market:** 25% (2024) Solar Industries India Limited recorded strong revenue growth of 18% in 2024, driven by increasing demand for explosives and defense goods. The company is benefiting from the growing infra...

Does Solar Industries India pay a dividend – and how reliable is the payout?

**Dividend Yield:** 0.8% (2024) **Dividend History:** Continuous payout over the last 5 years Solar Industries India Limited regularly pays dividends to its shareholders. The dividend yield was approximately 0.8% in 2024. The company has been consistently distributing dividends over the past five...

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Solar Industries India Stock Value

Solar Industries India Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does Solar Industries India do?

Solar Industries India Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Solar Industries India Stock Value

Solar Industries India Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does Solar Industries India do?

Solar Industries India Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.