About Solar Industries India Limited
Data last updated: 14 July 2026
Solar Industries India Limited is a public limited company based in Nagpur, Maharashtra, India. It specialises in jewellery, a part of the broader musical instruments sector. Incorporated on 24 February 1995, the company has been in operation for over 31 years.
Registered with ROC Nagpur under CIN L74999MH1995PLC085878. Listed on BSE: 532725 and NSE: SOLARINDS.
Capital: an authorised share capital of ₹27 Cr and a paid-up capital of ₹18.1 Cr. Formerly known as Solar Explosives Limited. It is led by directors including Milind Bhalchandra Deshmukh and Satyanarayan Nandlal Nuwal.
Last AGM: 22 July 2025. Financial statements filed for year ended 31 March 2025. Office: Solarhouse14 Kachimet Amravatiroad, Nagpur, Maharashtra, India – 440023.
As per NSE-filed consolidated financials for FY 2026, the company reported a revenue of ₹9,837.74 Cr, a growth of 30.47% compared to the previous year. The net worth stands at ₹6,548.9 Cr (up 44.36% YoY). Total assets are valued at ₹10,919 Cr (up 32.16% YoY).
The company has a workforce of approximately 2,442 employees as per the latest available data. Its group structure includes 7 subsidiaries.
The company is associated with 2 brands - Solar Group, Solar Industries. As per MCA filings, the company has open charges of ₹1,290.7 Cr and satisfied charges of ₹378.07 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website solargroup.com.
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Registered AddressSolarhouse14 Kachimet Amravatiroad, Nagpur, Maharashtra, India – 440023
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IndustryMusical Instruments, Jewellery, Musical Instrument, Manufacturing, Sports Goods
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Associated Brands with Solar Industries India Limited
Solar Industries India Limited operates two associated brands: Solar Group and Solar Industries. These brands represent Solar Industries India Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Defense and industrial explosives are manufactured for various sectors. | solargroup.com | |
| Defense and industrial explosives are manufactured for various sectors. | solarexplosives.com |
Competitors & Alternatives of Solar Industries India Limited
Brands and companies operating in the same space as Solar Industries India Limited include True Velocity, Nammo, Sierra Bullets and 3 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
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Ammunition products are manufactured and supplied by True Velocity. | Garland, United States, United States | 2010 |
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Ammunition and rocket motors supplied to military and civilian sectors. | Raufoss, Norway, Norway | 1998 |
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Precision bullets are manufactured by Sierra Bullets for reloading applications. | Sedalia, United States, United States | 1947 |
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Sellier & Bellot is engaged in ammunition manufacturing since 1825. | Vlasim, Czech Republic, Czechia | 1825 |
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Provider of machine learning, kinetic weapons, and robotic services for military | New York, United States, United States | 2022 |
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Collaboration among single-family offices is facilitated through a secure network. | Sandhurst, United Kingdom, United Kingdom | 1889 |
Business Activity of Solar Industries India Limited
Solar Industries India Limited is engaged in the principal business activity of manufacturing, with detailed activities including other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C13 | Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities | Locked |
Business activity turnover details for Solar Industries India Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Solar Industries India Limited
Solar Industries India Limited is audited by SRBC & CO LLP for the financial year 2024. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| SRBC & CO LLP | Locked | Locked | Locked |
Complete auditor history for Solar Industries India Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Solar Industries India Limited
Solar Industries India Limited is currently managed by 8 directors, with 27 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
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Milind Bhalchandra Deshmukh
Also directs:
Solar Explochem Limited
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Whole-Time Director | 29 Jul 2021 | 4 Years 11 Months | Current |
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Satyanarayan Nandlal Nuwal
Also directs:
Solar Defence And Aerospace Limited, Msn Nexgen Solutions Limited, Nagpur Infrastructures Private Limited and 2 more
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Director | 24 Feb 1995 | 31 Years 5 Months | Current |
| Suresh Menon | Whole-Time Director | 11 May 2018 | 8 Years 2 Months | Current |
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Manish Satyanarayan Nuwal
Also directs:
Msn Estate Ventures Llp, Msn Nextech Ventures Llp, Msn Ventures Global Enterprises Llp and 5 more
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Managing Director | 25 Oct 2008 | 17 Years 9 Months | Current |
| Ramesh Bhujang | Additional Director | 03 Dec 2025 | 0 Years 7 Months | Current |
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Viswanathan Lakshmanan
Also directs:
Vinyl Chemicals (India) Limited, Indo Count Industries Limited
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Director | 18 Oct 2025 | 0 Years 9 Months | Current |
Financials of Solar Industries India Limited FY 2026 filings available
Solar Industries India Limited reported revenue of ₹9,837.74 Cr (up 30.47% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹9,837.74 Cr | ₹7,540.26 Cr | ₹6,069.52 Cr | ₹6,922.53 Cr | ₹3,947.61 Cr | ₹2,515.63 Cr | ₹2,237.3 Cr |
| Other Income | ₹127.98 Cr | ₹70.83 Cr | ₹44.47 Cr | ₹31.52 Cr | ₹19.66 Cr | ₹21.42 Cr | ₹41.05 Cr |
| Total Income | ₹9,965.72 Cr | ₹7,611.09 Cr | ₹6,113.99 Cr | ₹6,954.05 Cr | ₹3,967.27 Cr | ₹2,537.05 Cr | ₹2,278.35 Cr |
| Cost of Materials Consumed | ₹4,503.02 Cr | ₹3,375.36 Cr | ₹2,709.97 Cr | ₹3,819.54 Cr | ₹2,065.53 Cr | ₹1,185.08 Cr | ₹1,103.78 Cr |
| Purchases of Stock-in-Trade | ₹568.68 Cr | ₹557.44 Cr | ₹402.58 Cr | ₹560.22 Cr | ₹301.85 Cr | ₹199.37 Cr | ₹153.36 Cr |
| Changes in Inventories | -₹177.98 Cr | -₹25.51 Cr | ₹83.62 Cr | -₹37.39 Cr | -₹40.05 Cr | -₹37.68 Cr | -₹42.14 Cr |
| Employee Benefit Expense | ₹844.98 Cr | ₹600.07 Cr | ₹433.46 Cr | ₹352.72 Cr | ₹289.63 Cr | ₹230.64 Cr | ₹206.62 Cr |
| Finance Costs | ₹133.97 Cr | ₹116.5 Cr | ₹109.37 Cr | ₹90.38 Cr | ₹50.25 Cr | ₹45.39 Cr | ₹55.04 Cr |
| Depreciation & Amortisation | ₹250.87 Cr | ₹181.5 Cr | ₹143.38 Cr | ₹128.21 Cr | ₹109.25 Cr | ₹93.53 Cr | ₹84.53 Cr |
| Other Expenses | ₹1,477.23 Cr | ₹1,072.54 Cr | ₹1,070.68 Cr | ₹938.52 Cr | ₹583.39 Cr | ₹423.62 Cr | ₹381.36 Cr |
| Total Expenses | ₹7,600.77 Cr | ₹5,877.9 Cr | ₹4,953.06 Cr | ₹5,852.2 Cr | ₹3,359.85 Cr | ₹2,139.95 Cr | ₹1,942.55 Cr |
| Profit Before Exceptional Items & Tax | ₹2,364.95 Cr | ₹1,733.19 Cr | ₹1,160.93 Cr | ₹1,101.85 Cr | ₹607.42 Cr | ₹397.1 Cr | ₹335.8 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹2,364.95 Cr | ₹1,733.19 Cr | ₹1,160.93 Cr | ₹1,101.85 Cr | ₹607.42 Cr | ₹397.1 Cr | ₹335.8 Cr |
| Total Tax Expense | ₹628.58 Cr | ₹450.81 Cr | ₹286.05 Cr | ₹290.41 Cr | ₹151.95 Cr | ₹109.03 Cr | ₹57.13 Cr |
| Net Profit | ₹1,736.64 Cr | ₹1,287.93 Cr | ₹875.23 Cr | ₹811.17 Cr | ₹455.47 Cr | ₹288.07 Cr | ₹278.67 Cr |
| attributable to Owners | ₹1,677.55 Cr | ₹1,209.44 Cr | ₹0 | ₹757.19 Cr | ₹441.28 Cr | ₹276.35 Cr | ₹267.43 Cr |
| attributable to NCI | ₹59.09 Cr | ₹78.49 Cr | ₹0 | ₹53.98 Cr | ₹14.19 Cr | ₹11.72 Cr | ₹11.24 Cr |
| Other Comprehensive Income | ₹301 Cr | -₹65 Cr | -₹171.79 Cr | -₹31.63 Cr | -₹28.35 Cr | -₹12.51 Cr | -₹63.38 Cr |
| Total Comprehensive Income | ₹2,037.64 Cr | ₹1,222.93 Cr | ₹703.44 Cr | ₹779.54 Cr | ₹427.12 Cr | ₹275.56 Cr | ₹215.29 Cr |
| EBITDA (computed) | ₹2,749.79 Cr | ₹2,031.19 Cr | ₹1,413.68 Cr | ₹1,320.44 Cr | ₹766.92 Cr | ₹536.02 Cr | ₹475.37 Cr |
| Basic EPS | ₹185.39 | ₹133.65 | ₹92.38 | ₹83.68 | ₹48.77 | ₹30.54 | ₹5.52 |
| Diluted EPS | ₹185.39 | ₹133.65 | ₹92.38 | ₹83.68 | ₹48.77 | ₹30.54 | ₹5.52 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹10,919 Cr | ₹8,261.32 Cr | ₹5,737.2 Cr | ₹5,036.25 Cr |
| Non-current Assets | ₹5,881.04 Cr | ₹4,134.81 Cr | ₹3,079.9 Cr | ₹2,534.9 Cr |
| Current Assets | ₹5,037.46 Cr | ₹4,122.53 Cr | ₹2,657.3 Cr | ₹2,501.35 Cr |
| Property, Plant & Equipment | ₹3,715.77 Cr | ₹2,469.81 Cr | ₹1,919.14 Cr | ₹1,614.04 Cr |
| Inventories | ₹1,741.86 Cr | ₹1,039.98 Cr | ₹846.82 Cr | ₹1,097.99 Cr |
| Trade Receivables | ₹1,857.86 Cr | ₹1,238.58 Cr | ₹844.85 Cr | ₹825.28 Cr |
| Cash & Equivalents | ₹469.44 Cr | ₹590.43 Cr | ₹259.86 Cr | ₹245.04 Cr |
| Equity (Net Worth) | ₹6,548.9 Cr | ₹4,536.62 Cr | ₹3,427.25 Cr | ₹2,750.7 Cr |
| Equity Share Capital | ₹18.1 Cr | ₹18.1 Cr | ₹18.1 Cr | ₹18.1 Cr |
| Borrowings (Non-current) | ₹820.36 Cr | ₹393.88 Cr | ₹583.55 Cr | ₹472.71 Cr |
| Borrowings (Current) | ₹647.48 Cr | ₹545.71 Cr | ₹521.42 Cr | ₹696.52 Cr |
| Total Debt (computed) | ₹1,467.84 Cr | ₹939.59 Cr | ₹1,104.97 Cr | ₹1,169.23 Cr |
| Current Liabilities | ₹2,448.89 Cr | ₹2,113.88 Cr | ₹1,501.42 Cr | ₹1,632.32 Cr |
| Total Liabilities | ₹4,369.6 Cr | ₹3,724.7 Cr | ₹2,309.95 Cr | ₹2,285.55 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | ₹620.87 Cr | ₹2,467.56 Cr | ₹1,406.01 Cr | ₹656.48 Cr | ₹297.8 Cr |
| Investing Cash Flow | -₹1,163.83 Cr | -₹1,593.21 Cr | -₹726.46 Cr | -₹518.98 Cr | -₹303.05 Cr |
| Financing Cash Flow | ₹209.46 Cr | -₹476.36 Cr | -₹370.28 Cr | ₹118.16 Cr | -₹45.4 Cr |
| Capital Expenditure | ₹1,739.12 Cr | ₹1,005.95 Cr | ₹559.75 Cr | ₹479.11 Cr | ₹287.44 Cr |
| Free Cash Flow (computed) | -₹1,118.25 Cr | ₹1,461.61 Cr | ₹846.26 Cr | ₹177.37 Cr | ₹10.36 Cr |
| Dividends Paid | ₹113.94 Cr | ₹76.92 Cr | ₹76.59 Cr | ₹67.87 Cr | ₹54.29 Cr |
| Net Change in Cash | -₹120.99 Cr | ₹397.99 Cr | ₹14.53 Cr | ₹160.37 Cr | -₹85.26 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹3,052.75 Cr | ₹2,548.32 Cr | ₹2,082.22 Cr | ₹2,154.45 Cr | ₹2,166.55 Cr | ₹1,973.08 Cr | ₹1,715.83 Cr | ₹1,694.78 Cr | ₹1,610.71 Cr | ₹1,429.14 Cr | ₹1,347.46 Cr | ₹1,682.21 Cr |
| Other Income | ₹44.47 Cr | ₹25.07 Cr | ₹29.18 Cr | ₹29.26 Cr | ₹6.55 Cr | ₹9.54 Cr | ₹30.45 Cr | ₹24.29 Cr | ₹17.65 Cr | ₹10.91 Cr | ₹7.72 Cr | ₹8.19 Cr |
| Total Income | ₹3,097.22 Cr | ₹2,573.39 Cr | ₹2,111.4 Cr | ₹2,183.71 Cr | ₹2,173.1 Cr | ₹1,982.62 Cr | ₹1,746.28 Cr | ₹1,719.07 Cr | ₹1,628.36 Cr | ₹1,440.05 Cr | ₹1,355.18 Cr | ₹1,690.4 Cr |
| Cost of Materials Consumed | ₹1,435.22 Cr | ₹1,116.34 Cr | ₹908.18 Cr | ₹994.68 Cr | ₹927.13 Cr | ₹885.09 Cr | ₹640.83 Cr | ₹813.96 Cr | ₹744.82 Cr | ₹634.5 Cr | ₹547.74 Cr | ₹782.91 Cr |
| Purchases of Stock-in-Trade | ₹164.5 Cr | ₹159.37 Cr | ₹122.33 Cr | ₹122.48 Cr | ₹185.86 Cr | ₹130.42 Cr | ₹252.95 Cr | ₹96.56 Cr | ₹48.9 Cr | ₹129.89 Cr | ₹96.72 Cr | ₹127.07 Cr |
| Changes in Inventories | -₹78.18 Cr | -₹34.39 Cr | -₹42.65 Cr | -₹22.76 Cr | ₹52.49 Cr | ₹13.16 Cr | -₹50.82 Cr | -₹40.34 Cr | ₹35.74 Cr | -₹12.76 Cr | ₹8.26 Cr | ₹52.38 Cr |
| Employee Benefit Expense | ₹252.59 Cr | ₹213.9 Cr | ₹194.7 Cr | ₹183.79 Cr | ₹173.58 Cr | ₹150.69 Cr | ₹144.69 Cr | ₹131.11 Cr | ₹118.54 Cr | ₹111.48 Cr | ₹103.34 Cr | ₹100.1 Cr |
| Finance Costs | ₹41.27 Cr | ₹34.38 Cr | ₹30.89 Cr | ₹27.43 Cr | ₹28.78 Cr | ₹30.51 Cr | ₹29.74 Cr | ₹27.47 Cr | ₹31.52 Cr | ₹28.29 Cr | ₹24.89 Cr | ₹24.67 Cr |
| Depreciation & Amortisation | ₹71.42 Cr | ₹62.85 Cr | ₹60.62 Cr | ₹55.98 Cr | ₹50.49 Cr | ₹47.42 Cr | ₹43.61 Cr | ₹39.98 Cr | ₹37.01 Cr | ₹38.6 Cr | ₹33.67 Cr | ₹34.1 Cr |
| Other Expenses | ₹452.65 Cr | ₹384.9 Cr | ₹346.87 Cr | ₹341.41 Cr | ₹287.82 Cr | ₹267.18 Cr | ₹283.41 Cr | ₹244.11 Cr | ₹309.01 Cr | ₹209.79 Cr | ₹255.25 Cr | ₹296.63 Cr |
| Total Expenses | ₹2,339.47 Cr | ₹1,937.35 Cr | ₹1,620.94 Cr | ₹1,703.01 Cr | ₹1,706.15 Cr | ₹1,524.47 Cr | ₹1,344.41 Cr | ₹1,312.85 Cr | ₹1,325.54 Cr | ₹1,139.79 Cr | ₹1,069.87 Cr | ₹1,417.86 Cr |
| Profit Before Exceptional Items & Tax | ₹757.75 Cr | ₹636.04 Cr | ₹490.46 Cr | ₹480.7 Cr | ₹466.95 Cr | ₹458.15 Cr | ₹401.87 Cr | ₹406.22 Cr | ₹302.82 Cr | ₹300.26 Cr | ₹285.31 Cr | ₹272.54 Cr |
| Exceptional Items | ₹0 | ₹0 | -₹94 Lakh | ₹6 Lakh | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹757.75 Cr | ₹636.04 Cr | ₹489.52 Cr | ₹480.76 Cr | ₹466.95 Cr | ₹458.15 Cr | ₹401.87 Cr | ₹406.22 Cr | ₹302.82 Cr | ₹300.26 Cr | ₹285.31 Cr | ₹272.54 Cr |
| Total Tax Expense | ₹203 Cr | ₹169.37 Cr | ₹127.83 Cr | ₹128.14 Cr | ₹118.26 Cr | ₹121.61 Cr | ₹103.19 Cr | ₹107.75 Cr | ₹62.67 Cr | ₹76.99 Cr | ₹75.54 Cr | ₹70.85 Cr |
| Net Profit | ₹556.03 Cr | ₹466.54 Cr | ₹361.69 Cr | ₹352.62 Cr | ₹346.11 Cr | ₹337.5 Cr | ₹303.78 Cr | ₹300.54 Cr | ₹242.71 Cr | ₹221.94 Cr | ₹208.99 Cr | ₹201.59 Cr |
| attributable to Owners | ₹547.63 Cr | ₹446.25 Cr | ₹344.97 Cr | ₹338.7 Cr | ₹322.23 Cr | ₹314.87 Cr | ₹7.76 Cr | ₹286.46 Cr | ₹0 | ₹203.33 Cr | ₹200.14 Cr | ₹197.41 Cr |
| attributable to NCI | ₹8.4 Cr | ₹20.29 Cr | ₹16.48 Cr | ₹13.92 Cr | ₹23.88 Cr | ₹22.63 Cr | -₹15.49 Cr | ₹14.08 Cr | ₹0 | ₹18.61 Cr | ₹8.85 Cr | ₹4.18 Cr |
| Other Comprehensive Income | ₹126.1 Cr | ₹60.93 Cr | ₹57.95 Cr | ₹58.72 Cr | -₹27.72 Cr | -₹34.11 Cr | -₹7.73 Cr | ₹4.56 Cr | ₹22.63 Cr | -₹55.1 Cr | -₹39.29 Cr | -₹100.03 Cr |
| Total Comprehensive Income | ₹682.13 Cr | ₹527.47 Cr | ₹419.64 Cr | ₹411.34 Cr | ₹318.39 Cr | ₹303.39 Cr | ₹296.05 Cr | ₹305.1 Cr | ₹265.34 Cr | ₹166.84 Cr | ₹169.7 Cr | ₹101.56 Cr |
| EBITDA (computed) | ₹870.44 Cr | ₹733.27 Cr | ₹581.97 Cr | ₹564.11 Cr | ₹546.22 Cr | ₹536.08 Cr | ₹475.22 Cr | ₹473.67 Cr | ₹371.35 Cr | ₹367.15 Cr | ₹343.87 Cr | ₹331.31 Cr |
| Basic EPS | ₹60.52 | ₹49.31 | ₹38.12 | ₹37.43 | ₹35.61 | ₹0.00 | ₹31.59 | ₹31.66 | ₹25.98 | ₹22.47 | ₹22.12 | ₹21.82 |
| Diluted EPS | ₹60.52 | ₹49.31 | ₹38.12 | ₹37.43 | ₹35.61 | ₹0.00 | ₹31.59 | ₹31.66 | ₹25.98 | ₹22.47 | ₹22.12 | ₹21.82 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹5,578.86 Cr | ₹4,456.6 Cr | ₹3,717.52 Cr | ₹4,162.25 Cr | ₹2,528.34 Cr | ₹1,584.4 Cr | ₹1,511.54 Cr |
| Other Income | ₹207.24 Cr | ₹83.75 Cr | ₹58.34 Cr | ₹55.84 Cr | ₹36.17 Cr | ₹25.64 Cr | ₹35.35 Cr |
| Total Income | ₹5,786.1 Cr | ₹4,540.35 Cr | ₹3,775.86 Cr | ₹4,218.09 Cr | ₹2,564.51 Cr | ₹1,610.04 Cr | ₹1,546.89 Cr |
| Cost of Materials Consumed | ₹2,553.07 Cr | ₹2,354.45 Cr | ₹2,048.63 Cr | ₹2,796.77 Cr | ₹1,647.19 Cr | ₹918.71 Cr | ₹872.12 Cr |
| Purchases of Stock-in-Trade | ₹409.19 Cr | ₹231.18 Cr | ₹232.6 Cr | ₹213.56 Cr | ₹160.35 Cr | ₹122.16 Cr | ₹102.27 Cr |
| Changes in Inventories | -₹25.9 Cr | -₹5.82 Cr | ₹20.22 Cr | -₹5.51 Cr | -₹25.36 Cr | -₹17.47 Cr | -₹13.95 Cr |
| Employee Benefit Expense | ₹293.55 Cr | ₹232.28 Cr | ₹185.51 Cr | ₹145.36 Cr | ₹131.89 Cr | ₹95.98 Cr | ₹94.1 Cr |
| Finance Costs | ₹26.02 Cr | ₹28.93 Cr | ₹29.58 Cr | ₹27.57 Cr | ₹8.85 Cr | ₹6.52 Cr | ₹12.17 Cr |
| Depreciation & Amortisation | ₹99.71 Cr | ₹74.64 Cr | ₹63.37 Cr | ₹57.02 Cr | ₹49.44 Cr | ₹37.98 Cr | ₹33.96 Cr |
| Other Expenses | ₹789.78 Cr | ₹547.4 Cr | ₹395.9 Cr | ₹383.24 Cr | ₹239.13 Cr | ₹192.94 Cr | ₹193.78 Cr |
| Total Expenses | ₹4,145.42 Cr | ₹3,463.06 Cr | ₹2,975.81 Cr | ₹3,618.01 Cr | ₹2,211.49 Cr | ₹1,356.82 Cr | ₹1,294.45 Cr |
| Profit Before Exceptional Items & Tax | ₹1,640.68 Cr | ₹1,077.29 Cr | ₹800.05 Cr | ₹600.08 Cr | ₹353.02 Cr | ₹253.22 Cr | ₹252.44 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹1,640.68 Cr | ₹1,077.29 Cr | ₹800.05 Cr | ₹600.08 Cr | ₹353.02 Cr | ₹253.22 Cr | ₹252.44 Cr |
| Total Tax Expense | ₹418.98 Cr | ₹274.18 Cr | ₹203.75 Cr | ₹154.69 Cr | ₹91.5 Cr | ₹64.15 Cr | ₹39.04 Cr |
| Net Profit | ₹1,221.7 Cr | ₹803.11 Cr | ₹596.3 Cr | ₹445.39 Cr | ₹261.52 Cr | ₹189.07 Cr | ₹213.4 Cr |
| Other Comprehensive Income | ₹28.65 Cr | -₹5.7 Cr | ₹55.11 Cr | ₹24.35 Cr | ₹1.55 Cr | ₹65 Lakh | -₹65 Lakh |
| Total Comprehensive Income | ₹1,250.35 Cr | ₹797.41 Cr | ₹651.41 Cr | ₹469.74 Cr | ₹263.07 Cr | ₹189.72 Cr | ₹212.75 Cr |
| EBITDA (computed) | ₹1,766.41 Cr | ₹1,180.86 Cr | ₹893 Cr | ₹684.67 Cr | ₹411.31 Cr | ₹297.72 Cr | ₹298.57 Cr |
| Basic EPS | ₹135.01 | ₹88.75 | ₹65.90 | ₹0.00 | ₹0.00 | ₹20.89 | ₹23.58 |
| Diluted EPS | ₹135.01 | ₹88.75 | ₹65.90 | ₹0.00 | ₹0.00 | ₹20.89 | ₹23.58 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹5,528.99 Cr | ₹4,435.72 Cr | ₹3,235.25 Cr | ₹2,769.17 Cr |
| Non-current Assets | ₹3,517.26 Cr | ₹2,496.92 Cr | ₹1,837.39 Cr | ₹1,492.53 Cr |
| Current Assets | ₹2,011.73 Cr | ₹1,938.8 Cr | ₹1,397.86 Cr | ₹1,276.64 Cr |
| Property, Plant & Equipment | ₹1,361.38 Cr | ₹1,124.3 Cr | ₹798.86 Cr | ₹769.24 Cr |
| Inventories | ₹405.28 Cr | ₹396.97 Cr | ₹264.11 Cr | ₹460.05 Cr |
| Trade Receivables | ₹984.79 Cr | ₹786.52 Cr | ₹605.12 Cr | ₹539.46 Cr |
| Cash & Equivalents | ₹250.36 Cr | ₹192.92 Cr | ₹62.95 Cr | ₹58.16 Cr |
| Equity (Net Worth) | ₹4,226.82 Cr | ₹3,066.96 Cr | ₹2,346.47 Cr | ₹1,767.45 Cr |
| Equity Share Capital | ₹18.1 Cr | ₹18.1 Cr | ₹18.1 Cr | ₹18.1 Cr |
| Borrowings (Non-current) | ₹78.75 Cr | ₹93.56 Cr | ₹193.05 Cr | ₹182.47 Cr |
| Borrowings (Current) | ₹62.92 Cr | ₹101.38 Cr | ₹119.43 Cr | ₹238.45 Cr |
| Total Debt (computed) | ₹141.67 Cr | ₹194.94 Cr | ₹312.48 Cr | ₹420.92 Cr |
| Current Liabilities | ₹909.05 Cr | ₹880.72 Cr | ₹559.58 Cr | ₹711.12 Cr |
| Total Liabilities | ₹1,302.17 Cr | ₹1,368.76 Cr | ₹888.78 Cr | ₹1,001.72 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | ₹927.34 Cr | ₹1,053.91 Cr | ₹769.7 Cr | ₹132.72 Cr | ₹294.01 Cr |
| Investing Cash Flow | -₹681.95 Cr | -₹691.25 Cr | -₹548.41 Cr | -₹270.73 Cr | -₹280.21 Cr |
| Financing Cash Flow | -₹187.95 Cr | -₹231.81 Cr | -₹216.5 Cr | ₹173.04 Cr | -₹36.02 Cr |
| Capital Expenditure | ₹408.54 Cr | ₹277.97 Cr | ₹240.71 Cr | ₹170.36 Cr | ₹128.99 Cr |
| Free Cash Flow (computed) | ₹518.8 Cr | ₹775.94 Cr | ₹528.99 Cr | -₹37.64 Cr | ₹165.02 Cr |
| Dividends Paid | ₹90.5 Cr | ₹76.92 Cr | ₹72.37 Cr | ₹67.87 Cr | ₹10.11 Cr |
| Net Change in Cash | ₹57.44 Cr | ₹130.85 Cr | ₹4.79 Cr | ₹35.03 Cr | -₹22.22 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹1,573.71 Cr | ₹1,492.78 Cr | ₹1,125.22 Cr | ₹1,387.15 Cr | ₹1,299.28 Cr | ₹1,207.24 Cr | ₹905.49 Cr | ₹1,044.59 Cr | ₹1,001.67 Cr | ₹902.25 Cr | ₹830.34 Cr | ₹983.26 Cr |
| Other Income | ₹83.48 Cr | ₹37.51 Cr | ₹56.58 Cr | ₹29.67 Cr | ₹14.53 Cr | ₹11.8 Cr | ₹31.64 Cr | ₹25.78 Cr | ₹13.18 Cr | ₹17.68 Cr | ₹13.56 Cr | ₹13.92 Cr |
| Total Income | ₹1,657.19 Cr | ₹1,530.29 Cr | ₹1,181.8 Cr | ₹1,416.82 Cr | ₹1,313.81 Cr | ₹1,219.04 Cr | ₹937.13 Cr | ₹1,070.37 Cr | ₹1,014.85 Cr | ₹919.93 Cr | ₹843.9 Cr | ₹997.18 Cr |
| Cost of Materials Consumed | ₹743.65 Cr | ₹650.34 Cr | ₹476.52 Cr | ₹682.56 Cr | ₹699.95 Cr | ₹612.83 Cr | ₹451.48 Cr | ₹590.19 Cr | ₹537.06 Cr | ₹463.68 Cr | ₹411.44 Cr | ₹636.45 Cr |
| Purchases of Stock-in-Trade | ₹76.57 Cr | ₹118.57 Cr | ₹117.75 Cr | ₹96.3 Cr | ₹42.37 Cr | ₹75.31 Cr | ₹62.17 Cr | ₹51.33 Cr | ₹24.47 Cr | ₹85.51 Cr | ₹73.7 Cr | ₹48.92 Cr |
| Changes in Inventories | -₹3.97 Cr | ₹83 Lakh | -₹13.27 Cr | -₹9.49 Cr | -₹5.7 Cr | ₹18.73 Cr | -₹11.28 Cr | -₹7.57 Cr | ₹18.55 Cr | ₹14.44 Cr | ₹10.29 Cr | -₹23.06 Cr |
| Employee Benefit Expense | ₹86.4 Cr | ₹70.91 Cr | ₹67.57 Cr | ₹68.67 Cr | ₹70.34 Cr | ₹56.43 Cr | ₹52.78 Cr | ₹52.73 Cr | ₹52.24 Cr | ₹48.17 Cr | ₹42.6 Cr | ₹42.5 Cr |
| Finance Costs | ₹7.34 Cr | ₹5.68 Cr | ₹6.26 Cr | ₹6.74 Cr | ₹8.08 Cr | ₹7.88 Cr | ₹6.73 Cr | ₹6.24 Cr | ₹7.88 Cr | ₹7.73 Cr | ₹6.33 Cr | ₹7.64 Cr |
| Depreciation & Amortisation | ₹26.42 Cr | ₹25.43 Cr | ₹24.73 Cr | ₹23.13 Cr | ₹20.75 Cr | ₹19.1 Cr | ₹17.86 Cr | ₹16.93 Cr | ₹16.2 Cr | ₹16.13 Cr | ₹15.72 Cr | ₹15.32 Cr |
| Other Expenses | ₹213.97 Cr | ₹215.48 Cr | ₹186.76 Cr | ₹173.57 Cr | ₹174.04 Cr | ₹154.37 Cr | ₹119.22 Cr | ₹99.77 Cr | ₹119.11 Cr | ₹98.55 Cr | ₹93.12 Cr | ₹85.12 Cr |
| Total Expenses | ₹1,150.38 Cr | ₹1,087.24 Cr | ₹866.32 Cr | ₹1,041.48 Cr | ₹1,009.83 Cr | ₹944.65 Cr | ₹698.96 Cr | ₹809.62 Cr | ₹775.51 Cr | ₹734.21 Cr | ₹653.2 Cr | ₹812.89 Cr |
| Profit Before Exceptional Items & Tax | ₹506.81 Cr | ₹443.05 Cr | ₹315.48 Cr | ₹375.34 Cr | ₹303.98 Cr | ₹274.39 Cr | ₹238.17 Cr | ₹260.75 Cr | ₹239.34 Cr | ₹185.72 Cr | ₹190.7 Cr | ₹184.29 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹506.81 Cr | ₹443.05 Cr | ₹315.48 Cr | ₹375.34 Cr | ₹303.98 Cr | ₹274.39 Cr | ₹238.17 Cr | ₹260.75 Cr | ₹239.34 Cr | ₹185.72 Cr | ₹190.7 Cr | ₹184.29 Cr |
| Total Tax Expense | ₹129.03 Cr | ₹113.6 Cr | ₹80.53 Cr | ₹95.82 Cr | ₹76.95 Cr | ₹69.97 Cr | ₹60.71 Cr | ₹66.55 Cr | ₹59.95 Cr | ₹47.4 Cr | ₹49.52 Cr | ₹46.88 Cr |
| Net Profit | ₹377.78 Cr | ₹329.45 Cr | ₹234.95 Cr | ₹279.52 Cr | ₹227.03 Cr | ₹204.42 Cr | ₹177.46 Cr | ₹194.2 Cr | ₹179.39 Cr | ₹138.32 Cr | ₹141.18 Cr | ₹137.41 Cr |
| Other Comprehensive Income | ₹15.32 Cr | ₹91 Lakh | ₹12 Cr | ₹42 Lakh | -₹15.06 Cr | ₹0 | ₹9.36 Cr | ₹0 | ₹55.33 Cr | -₹19 Lakh | -₹3 Lakh | ₹0 |
| Total Comprehensive Income | ₹393.1 Cr | ₹330.36 Cr | ₹246.95 Cr | ₹279.94 Cr | ₹211.97 Cr | ₹204.42 Cr | ₹186.82 Cr | ₹194.2 Cr | ₹234.72 Cr | ₹138.13 Cr | ₹141.15 Cr | ₹137.41 Cr |
| EBITDA (computed) | ₹540.57 Cr | ₹474.16 Cr | ₹346.47 Cr | ₹405.21 Cr | ₹332.81 Cr | ₹301.37 Cr | ₹262.76 Cr | ₹283.92 Cr | ₹263.42 Cr | ₹209.58 Cr | ₹212.75 Cr | ₹207.25 Cr |
| Basic EPS | ₹41.75 | ₹36.41 | ₹25.96 | ₹30.89 | ₹25.09 | ₹22.59 | ₹19.61 | ₹21.46 | ₹19.82 | ₹15.29 | ₹15.60 | ₹15.19 |
| Diluted EPS | ₹41.75 | ₹36.41 | ₹25.96 | ₹30.89 | ₹25.09 | ₹22.59 | ₹19.61 | ₹21.46 | ₹19.82 | ₹15.29 | ₹15.60 | ₹15.19 |
Shareholding Pattern of Solar Industries India Limited
As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 73.15%, foreign institutional investors hold 6.60%, domestic institutional investors hold 12.90%, retail and other public shareholders hold 7.35% of Solar Industries India Limited. The company had 115,917 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% |
| Public | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% |
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 73.15% | 72.98% |
| Public | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 26.85% | 27.02% |
| Promoter change (YoY, %pts) | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | +0.17 | - |
Board & Governance of Solar Industries India Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Solar Industries India Limited has 8 directors - 4 independent and 3 executive. The board is chaired by Satyanarayan Nuwal.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| Satyanarayan Nuwal | Non-Executive - Non Independent Director · Chairperson | 1995-02-24 | 1 |
| Manish Nuwal | Executive Director · CEO-MD | 2008-10-25 | 1 |
| Suresh Menon | Executive Director | 2018-05-11 | 1 |
| Milind Deshmukh | Executive Director | 2021-07-29 | 1 |
| Girija Balakrishnan | Non-Executive - Independent Director | 2025-09-18 | 5 |
| Viswanathan Lakshmanan | Non-Executive - Independent Director | 2025-10-18 | 3 |
| Ramesh Bhujang | Non-Executive - Independent Director | 2025-12-03 | 1 |
| Dinesh Kumar Batra | Non-Executive - Independent Director | 2024-04-01 | 3 |
| Committee | Members |
|---|---|
| Audit Committee | Manish Nuwal, Girija Balakrishnan, Viswanathan Lakshmanan, Dinesh Kumar Batra (Chairperson) |
| Nomination and remuneration committee | Viswanathan Lakshmanan, Girija Balakrishnan, Dinesh Kumar Batra (Chairperson) |
| Stakeholders Relationship Committee | Viswanathan Lakshmanan (Chairperson), Manish Nuwal, Suresh Menon |
| Risk Management Committee | Manish Nuwal (Chairperson), Suresh Menon, Milind Deshmukh, Dinesh Kumar Batra, Girija Balakrishnan, Ramesh Bhujang, Moneesh Agrawal, Shalinee Mandhana, Ashish Khole, Paresh Patel |
| Corporate Social Responsibility Committee | Satyanarayan Nuwal (Chairperson), Manish Nuwal, Girija Balakrishnan |
Group Structure of Solar Industries India Limited
Solar Industries India Limited has 7 subsidiary companies and 1 associated company. This group structure data is as of FY 2024. The corporate group structure reflects Solar Industries India Limited's business expansion strategy and organizational complexity.
| Company Name | CIN | Shares Held |
|---|---|---|
| Solar Explochem Limited | U24290MH2022PLC381746 | - |
| Rajasthan Explosives And Chemicals Limited | U24292MH1979PLC409419 | - |
| Economic Explosives Limited | U24292MH1995PLC091808 | - |
| Emul Tek Private Limited | U24292MH2000PTC274027 | - |
| Solar Defence Limited | U29220MH2016PLC274147 | - |
| Solar Defence Systems Limited | U29253MH2016PLC274677 | - |
Showing major subsidiaries. Total: 7.
Charges & Borrowings of Solar Industries India Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 01 Sep 2010 | Others | ₹1,290.7 Cr | Open |
| 12 Jan 2017 | State Bank of India | ₹50 Cr | Satisfied |
| 03 May 2006 | Citicorp Finance (India) Limited | ₹1.82 Cr | Satisfied |
| 25 Apr 2006 | Citicorp Finance (India) Ltd | ₹82.87 Lakh | Satisfied |
| 17 Jan 2004 | Bank of India | ₹90 Cr | Satisfied |
Total charge records: 54 View all charges
Employees and EPFO Compliance at Solar Industries India Limited
Solar Industries India Limited has a workforce of 2,442 employees as of Jan 31, 2026.
Employee and EPFO history for Solar Industries India Limited
Monthly headcount, contribution history, establishment records, and filing compliance require an active report plan.
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GST Compliance of Solar Industries India Limited
GST registrations and filing compliance for Solar Industries India Limited
State-wise registrations, return filing status, HSN and SAC details, and jurisdiction records require an active report plan.
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Credit Ratings, Litigation & Regulatory Alerts for Solar Industries India Limited
Credit ratings, litigation, and regulatory alerts for Solar Industries India Limited
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MSME Payment Delays by Solar Industries India Limited
MSME payment history for Solar Industries India Limited
Amounts outstanding to micro and small suppliers, delay reasons, and MSME-1 filing history require an active report plan.
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Subsidiaries & Group Companies of Solar Industries India Limited
Corporate group structure for Solar Industries India Limited
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MCA Filings & Documents of Solar Industries India Limited
MCA filings and documents for Solar Industries India Limited
Official forms, annual returns, financial statements, charge filings, and document dates require an active report plan.
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Recent Activity on Solar Industries India Limited
Recent News on Solar Industries India Limited
Frequently Asked Questions about Solar Industries India Limited
Solar Industries India Limited is an active public limited company in the musical instruments sector based in Nagpur, Maharashtra, India. It was incorporated on 24 February 1995 (31+ years old) and is registered under CIN L74999MH1995PLC085878. Listed on BSE: 532725 and NSE: SOLARINDS. The company has 2,442 employees.
Solar Industries India Limited reported revenue of ₹9,837.74 Cr for FY 2026 (up 30.47% YoY) based on consolidated NSE filings.
The current directors of Solar Industries India Limited are:
- Milind Bhalchandra Deshmukh - Whole-Time Director
- Satyanarayan Nandlal Nuwal - Director
- Suresh Menon - Whole-Time Director
- Manish Satyanarayan Nuwal - Managing Director
- Ramesh Bhujang - Additional Director
- Viswanathan Lakshmanan - Director
- Girija Balakrishnan - Director
- Reena Jha Tripathi - Additional Director
The primary industry of Solar Industries India Limited is musical instruments. The company specifically operates in jewellery. The company is currently active in this sector.
Yes. Solar Industries India Limited is listed on both BSE (code: 532725) and NSE (symbol: SOLARINDS).
Solar Industries India Limited can be reached at the registered office: Solarhouse14 Kachimet Amravatiroad, Nagpur, Maharashtra, India – 440023, or through the website solargroup.com.