Solar Industries India Limited

BSE: 532725 NSE: SOLARINDS
Solar Industries India Limited - musical instruments in Nagpur, Maharashtra, India. FY 2026 financials & compliance.
CIN L74999MH1995PLC085878 Incorporated 24 February 1995 ROC Nagpur HQ Nagpur, Maharashtra, India
Active Listed - NSE: SOLARINDS · BSE: 532725 Public Limited Company musical instruments Fortune India 500 · #332 India's Most Valuable · #47 Nifty 500
Data last updated
Market Cap
₹1,72,148 Cr
SOLARINDS · NSE
Share Price
₹19,024.00
+2.18% today
Revenue
₹9,838 Cr
FY 2025-26 · +30.5% YoY
EBITDA
₹2,622 Cr
Margin 26.6%
Net Profit
₹1,747 Cr
FY 2025-26 · +38.8% YoY
P/E (TTM)
74.4x
P/B 21.9x
ROE
32.5%
ROCE 33.4%
Debt / Equity
0.23
Interest cover 5.7x

About Solar Industries India Limited

Data last updated:

Solar Industries India Limited is a public limited company based in Nagpur, Maharashtra, India. It operates in the jewellery segment of the musical instruments sector. It was incorporated on 24 February 1995 and has been in existence for over 31 years.

Solar Industries India is ranked #332 on the Fortune India 500 (2025) and #47 among India's most valuable companies (2025). It is part of the Nifty 500 and BSE 500 indices. Its director Satyanarayan Nuwal and family are #28 among India's richest people (2026).

The company is registered with the Registrar of Companies (ROC), Nagpur, under CIN L74999MH1995PLC085878. Its GSTIN is 27AACCS2132E1ZT (Maharashtra). The company holds 16 GST registrations, of which 11 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532725 and NSE: SOLARINDS.

The company has an authorised share capital of ₹27 Cr and a paid-up capital of ₹18.1 Cr. It was formerly known as Solar Explosives Limited. It is led by directors including Manish Satyanarayan Nuwal (Managing Director) and Milind Bhalchandra Deshmukh (Whole-Time Director).

Its last annual general meeting (AGM) was held on 11 August 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Solarhouse14 Kachimet Amravatiroad, Nagpur, Maharashtra, India – 440023.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹9,837.74 Cr, a growth of 30.5% compared to the previous year. For the same year it recorded a net profit of ₹1,746.87 Cr (net margin 17.8%) and EBITDA of ₹2,621.81 Cr (EBITDA margin 26.7%). The net worth stands at ₹6,277.2 Cr (up 41.8% YoY). Total assets are valued at ₹8,863.55 Cr (up 35.9% YoY).

The company has about 2,442 employees on its provident fund (EPFO) records. Its group structure includes 7 subsidiaries.

The company is associated with 2 brands: Solar Group and 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. Court records list 98 cases involving the company, including 34 filed by the company and 65 filed against it; 23 cases are pending. The company has 27 deals on record (23 market trades, 1 debt financing, 1 secondary share transfer), with disclosed funding of ₹132.83 Cr; the latest was in October 2025. Its 3 peer companies in the same principal business activity (other manufacturing) are compared by revenue, 1 larger and 2 smaller; the largest is Varroc Engineering Limited with revenue of ₹8,171.77 Cr. The company has 18 MSME Form 1 returns on record between 2016 and 2023, listing 197 overdue payments to 52 micro and small suppliers.

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.

Company details

CIN L74999MH1995PLC085878
Registration Number 085878
Incorporation Date 24 February 1995
ROC Nagpur
Listing Status Listed - Listed on NSE (SOLARINDS); Listed on BSE (532725)
Company Status Active
Date of Last AGM 11 August 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
Key People
Manish Satyanarayan Nuwal Managing Director Milind Bhalchandra Deshmukh Whole-Time Director Suresh Menon Whole-Time Director

Recognitions & Rankings of Solar Industries India

Fortune India 500 2025 edition
Rank#332
Total income
₹7,642 Cr
Profit
₹1,209 Cr
Last year #364
India's Most Valuable Companies 2025 edition · Source: Hurun India
Rank#47
Valuation
₹1,39,710 Cr
2024 #65 2023 #96 2022 #119
Stock market indices
Nifty 500 BSE 500

Contact details

Solar Industries India Limited's registered office is in Nagpur, Maharashtra. Its website is solargroup.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    solargroup.com
  • Social Media
  • Apps
  • Registered Address
    Solarhouse14 Kachimet Amravatiroad, Nagpur, Maharashtra, India – 440023
  • Industry
    Musical Instruments, Jewellery, Musical Instrument, Manufacturing, Sports Goods

To see the full contact details of Solar Industries India Limited, buy the company report.

Comprehensive company report
Solar Industries India Limited - one report that includes everything
  • Company details, directors and signatories
  • Historical financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included

Brands

Solar Industries India operates two associated brands: Solar Group and Solar Industries. Each brand links to its own profile.

BrandDescriptionWebsite
Solar Group
Defense and industrial explosives are manufactured for various sectors.solargroup.com
Solar Industries
Defense and industrial explosives are manufactured for various sectors.solarexplosives.com

Business activity

The main business activity of Solar Industries India is manufacturing. In detail, this covers other manufacturing.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturing32Other manufacturing

To see the full business activity and turnover split of Solar Industries India Limited, buy the company report.

Financials of Solar Industries India Limited

FY 2025-26 filings available

Solar Industries India Limited reported revenue of ₹9,837.74 Cr (up 30.5% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹9,838 Cr
+30.5% YoY
EBITDA
₹2,622 Cr
+33.7% YoY
Profit After Tax
₹1,747 Cr
+38.8% YoY
Net Worth
₹6,277 Cr
+41.8% YoY
Total Assets
₹8,864 Cr
+35.9% YoY
Total Debt
₹1,524 Cr
+58.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue9,8387,5406,0706,9233,9482,5162,237
Revenue growth+30.5%+24.2%-12.3%+75.4%+56.9%+12.4%-
EBITDA2,6221,9601,3691,289747515434
EBITDA margin+26.7%+26.0%+22.6%+18.6%+18.9%+20.5%+19.4%
Profit before tax2,3651,7391,1611,102607397336
Net profit1,7471,258918789442276267
Net profit margin+17.8%+16.7%+15.1%+11.4%+11.2%+11.0%+12.0%
EPS (₹)185.36133.6492.3783.6748.7630.5429.55
Balance sheet
Total assets8,8646,5224,5693,9482,9042,4522,151
Net worth6,2774,4273,3062,6101,9141,5791,380
Total debt1,5249621,1381,195888808708
Cash & bank58472528726098.75181120
Net working capital3,2542,0371,4641,552978764707
Cash flow
Cash from operations6212,4681,406656298357325
Cash from investing(951)(1,660)(1,022)(614)(338)(253)(260)
Cash from financing209(476)(370)118(45.40)(26.07)(33.62)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue3,5193,6683,0532,5482,0822,1542,1671,973
Revenue growth (YoY)+69.0%+70.3%+40.9%+29.2%+21.4%+27.9%--
Other income15.3717.2745.7525.0729.1829.326.5510.50
EBITDA1,0051,015826708552535537527
EBITDA margin+28.6%+27.7%+27.1%+27.8%+26.5%+24.8%+24.8%+26.7%
Depreciation87.9579.7471.4262.8560.6255.9850.4947.42
Interest55.3641.2641.2734.3830.8927.4328.7830.51
Profit before tax877911759636490481464459
Tax227245203169128128118122
Net profit650666556467361353346338
EPS (₹)68.1972.1160.5249.3138.1237.4335.6134.80
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue5,5794,4573,7184,1622,5281,5841,512
Revenue growth+25.2%+19.9%-10.7%+64.6%+59.6%+4.8%-
EBITDA1,5591,097835629375272263
EBITDA margin+28.0%+24.6%+22.5%+15.1%+14.8%+17.2%+17.4%
Profit before tax1,6411,077800600353253252
Net profit1,220803595445261189213
Net profit margin+21.9%+18.0%+16.0%+10.7%+10.3%+11.9%+14.1%
EPS (₹)134.9988.7465.8949.2128.9020.8923.58
Balance sheet
Total assets4,5343,5282,6642,1921,5221,2831,151
Net worth4,2273,0672,3461,7671,3661,1571,021
Total debt149200318424156127129
Cash & bank25419665.1860.9525.2447.6364.98
Net working capital1,169989745785348351336
Cash flow
Cash from operations9271,054770133294148195
Cash from investing(682)(691)(549)(271)(280)(99.33)(9.93)
Cash from financing(188)(232)(216)173(36.02)(65.95)(142)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,4461,6561,5741,4931,1251,3871,2991,207
Revenue growth (YoY)+28.5%+19.4%+21.1%+23.7%+24.3%+32.8%--
Other income47.4029.8383.4837.5156.5829.6714.5311.80
Total expenses1,0261,1691,1171,0568351,012981918
EBITDA420487457437290376318290
EBITDA margin+29.0%+29.4%+29.0%+29.3%+25.8%+27.1%+24.5%+24.0%
Depreciation29.0928.0526.4225.4324.7323.1320.7519.10
Interest8.946.887.345.686.266.748.087.88
Profit before tax429482507443315375304274
Tax10912412911480.5395.8276.9569.97

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 10 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue3,5193,6683,0532,5482,0822,1542,1671,973
Revenue growth (YoY)+69.0%+70.3%+40.9%+29.2%+21.4%+27.9%--
Other income15.3717.2745.7525.0729.1829.326.5510.50
EBITDA1,0051,015826708552535537527
EBITDA margin+28.6%+27.7%+27.1%+27.8%+26.5%+24.8%+24.8%+26.7%
Depreciation87.9579.7471.4262.8560.6255.9850.4947.42
Interest55.3641.2641.2734.3830.8927.4328.7830.51
Profit before tax877911759636490481464459
Tax227245203169128128118122
Net profit650666556467361353346338
EPS (₹)68.1972.1160.5249.3138.1237.4335.6134.80
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue9,8387,5406,0706,9233,9482,5162,237
Revenue growth+30.5%+24.2%-12.3%+75.4%+56.9%+12.4%-
Other income12876.3844.8231.5219.6621.4241.05
Total expenses7,2165,5804,7005,6343,2002,0011,803
Employee cost766547400331267222196
EBITDA2,6221,9601,3691,289747515434
EBITDA margin+26.7%+26.0%+22.6%+18.6%+18.9%+20.5%+19.4%
Depreciation25118214312810993.5384.53
Interest13411610990.3850.2545.3955.04
Profit before tax2,3651,7391,1611,102607397336
Tax62945128629015210957.13
Net profit1,7471,258918789442276267
Net profit margin+17.8%+16.7%+15.1%+11.4%+11.2%+11.0%+12.0%
EPS (₹)185.36133.6492.3783.6748.7630.5429.55
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital18.1031.4018.1018.1018.1018.1018.10
Reserves & surplus6,2594,3953,2882,5921,8961,5611,362
Shareholders' funds (net worth)6,2774,4273,3062,6101,9141,5791,380
Minority interest27216012214010162.6951.51
Secured loans1,2618469691,009673786543
Unsecured loans26311616818621521.42165
Total debt1,5249621,1381,195888808708
Total liabilities8,8646,5224,5693,9482,9042,4522,151
Assets
Gross block4,9803,4822,6092,2101,9241,6181,461
Net block4,0062,7292,0281,7021,4931,2881,209
Capital work in progress731707490282230293165
Investments18367637098.5118.220.972.35
Inventories1,7421,0408471,098719440331
Sundry debtors1,8581,239845825541455370
Cash & bank balances58472528726098.75181120
Loans & advances854590456298302148162
Total current assets5,0373,5942,4352,4811,6611,226983
Total current liabilities1,7831,557971929683462277
Net working capital3,2542,0371,4641,552978764707
Total assets8,8646,5224,5693,9482,9042,4522,151
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash59025924584.6717092.5661.00
Net cash from operating activities6212,4681,406656298357325
Net cash from investing activities(951)(1,660)(1,022)(614)(338)(253)(260)
Net cash from financing activities209(476)(370)118(45.40)(26.07)(33.62)
Net change in cash(121)33113.94160(85.26)77.3731.56
Closing cash58472528726098.75181120
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+30.5%+24.2%-12.3%+75.4%+56.9%+12.4%-
EBITDA growth+33.7%+43.2%+6.3%+72.5%+45.2%+18.5%-
PBT growth+36.0%+49.7%+5.4%+81.4%+53.0%+18.3%-16.4%
Net income growth+38.8%+37.1%+16.3%+78.6%+60.2%+3.2%-
Revenue CAGR (3Y)+12.4%+24.1%+34.1%+45.7%+17.1%+9.5%+12.3%
EBITDA CAGR (3Y)+26.7%+37.9%+38.6%+43.7%+14.7%+7.7%+10.3%
Profitability & leverage
Net income margin+17.7%+17.1%+14.4%+11.7%+11.5%+11.5%+12.5%
Return on capital employed+33.4%+34.3%+30.8%+36.1%+25.3%+19.7%+19.8%
Return on net worth+32.5%+33.4%+29.6%+35.9%+26.1%+19.5%+21.3%
Debt / equity0.230.270.390.460.490.510.50
Long-term debt / equity0.120.130.190.210.260.240.15
Interest cover5.656.558.927.797.8810.7815.74
Efficiency & per share
Fixed asset turnover2.332.482.523.352.231.631.67
Inventory turnover7.077.996.247.626.816.527.29
Debtors turnover6.357.247.2710.137.926.095.82
EPS (₹)185.36133.6492.3783.6748.7630.5429.55
Dividend per share (₹)11.0010.008.508.007.506.006.00
Book value per share (₹)693.61487.65365.26288.44211.52174.52152.50
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,4461,6561,5741,4931,1251,3871,2991,207
Revenue growth (YoY)+28.5%+19.4%+21.1%+23.7%+24.3%+32.8%--
Other income47.4029.8383.4837.5156.5829.6714.5311.80
Total expenses1,0261,1691,1171,0568351,012981918
EBITDA420487457437290376318290
EBITDA margin+29.0%+29.4%+29.0%+29.3%+25.8%+27.1%+24.5%+24.0%
Depreciation29.0928.0526.4225.4324.7323.1320.7519.10
Interest8.946.887.345.686.266.748.087.88
Profit before tax429482507443315375304274
Tax10912412911480.5395.8276.9569.97
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue5,5794,4573,7184,1622,5281,5841,512
Revenue growth+25.2%+19.9%-10.7%+64.6%+59.6%+4.8%-
Other income20783.7558.3455.8436.1725.6435.35
Total expenses4,0203,3592,8833,5332,1531,3121,248
Employee cost25220516513511188.9185.01
EBITDA1,5591,097835629375272263
EBITDA margin+28.0%+24.6%+22.5%+15.1%+14.8%+17.2%+17.4%
Depreciation99.7174.6463.3757.0249.4437.9833.96
Interest26.0228.9329.5827.578.856.5212.17
Profit before tax1,6411,077800600353253252
Tax41927420415591.5064.1539.04
Net profit1,220803595445261189213
Net profit margin+21.9%+18.0%+16.0%+10.7%+10.3%+11.9%+14.1%
EPS (₹)134.9988.7465.8949.2128.9020.8923.58
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital18.1018.1018.1018.1018.1018.1018.10
Reserves & surplus4,2093,0492,3281,7491,3471,1391,003
Shareholders' funds (net worth)4,2273,0672,3461,7671,3661,1571,021
Secured loans181229330200191136114
Unsecured loans(32.43)(29.38)(12.39)224(34.76)(9.48)15.00
Total debt149200318424156127129
Total liabilities4,5343,5282,6642,1921,5221,2831,151
Assets
Gross block1,8381,5091,1091,024902710662
Net block1,3771,139811779706558545
Capital work in progress14711321978.4140.9113032.34
Investments867859667226146129130
Inventories405397264460274143100
Sundry debtors985787605539298295206
Cash & bank balances25419665.1860.9525.2447.6364.98
Loans & advances368387250196153111126
Total current assets2,0121,7661,1841,257750596497
Total current liabilities843778439472402245161
Net working capital1,169989745785348351336
Total assets4,5343,5282,6642,1921,5221,2831,151
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash19362.0758.1623.1345.3562.8619.94
Net cash from operating activities9271,054770133294148195
Net cash from investing activities(682)(691)(549)(271)(280)(99.33)(9.93)
Net cash from financing activities(188)(232)(216)173(36.02)(65.95)(142)
Net change in cash57.441313.9135.03(22.22)(17.51)42.92
Closing cash25419665.1860.9525.2447.6364.98
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+25.2%+19.9%-10.7%+64.6%+59.6%+4.8%-
EBITDA growth+42.1%+31.4%+32.7%+67.6%+37.9%+3.4%-
PBT growth+52.3%+34.7%+33.3%+70.0%+39.4%+0.3%-12.2%
Net income growth+51.9%+34.9%+33.7%+70.4%+38.2%-11.3%-
Revenue CAGR (3Y)+10.3%+20.8%+32.9%+40.2%+15.0%+7.6%+10.0%
EBITDA CAGR (3Y)+35.4%+43.0%+45.3%+33.7%+6.9%+6.1%+6.7%
Profitability & leverage
Net income margin+21.9%+18.0%+16.0%+10.7%+10.3%+11.9%+14.1%
Return on capital employed+41.4%+35.7%+34.2%+33.8%+25.8%+21.3%+24.0%
Return on net worth+33.5%+29.7%+29.0%+28.4%+20.7%+17.4%+22.4%
Debt / equity0.050.100.180.190.110.120.16
Long-term debt / equity0.020.050.090.110.100.090.07
Interest cover1.782.833.844.822.722.795.31
Efficiency & per share
Fixed asset turnover3.333.403.484.323.142.312.49
Inventory turnover13.9113.4810.2711.3412.1413.0415.59
Debtors turnover6.306.406.509.948.536.337.72
EPS (₹)134.9988.7465.8949.2128.9020.8923.58
Dividend per share (₹)11.0010.008.508.007.506.006.00
Book value per share (₹)467.05338.89259.28195.30150.89127.82112.86

To see the full year-wise statements and ratios of Solar Industries India Limited, buy the company report.

Board of directors of Solar Industries India Limited

Solar Industries India has 8 current directors and 27 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Milind Bhalchandra Deshmukh
Also directs: Solar Explochem Limited
Whole-Time Director29 Jul 20215 Years 3 MonthsCurrent
Satyanarayan Nandlal Nuwal
Also directs: Solar Defence and Aerospace Limited, MSN Nexgen Solutions Limited, Nagpur Infrastructures Private Limited and 2 more
Director24 Feb 199531 Years 8 MonthsCurrent
Manish Satyanarayan Nuwal
Also directs: MSN Estate Ventures LLP, MSN Nextech Ventures LLP, MSN Ventures Global Enterprises LLP and 5 more
Managing Director25 Oct 200818 Years 0 MonthsCurrent
Suresh Menon
Also directs: Solar Explochem Limited, Solar Defence Limited, Solar Defence Systems Limited
Whole-Time Director11 May 20188 Years 5 MonthsCurrent
Ramesh Bhujang
Also directs: Ardour Seeds India Limited, Athaang Infrastructure Investment Manager Private Limited, RMG Polyvinyl India Limited
Director03 Dec 20250 Years 11 MonthsCurrent
Viswanathan Lakshmanan
Also directs: Vinyl Chemicals (India) Limited, Indo Count Industries Limited
Director18 Oct 20251 Years 0 MonthsCurrent
Showing 6 of 8 current directors. View all directors

Peer comparison

Solar Industries India Limited is compared with the 3 companies closest to it by revenue in the same principal business activity (other manufacturing), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Solar Industries India Limitedthis company₹9,837.74 Cr (FY 2026)₹1,746.87 Cr17.8%30.5%2,442Nagpur, Maharashtra, India
Varroc Engineering Limited₹8,171.77 Cr (FY 2025)8.0%Aurangabad, Maharashtra, India
Wonder Cement Limited₹7,533.73 Cr (FY 2025)5.0%Kishangarh, Rajasthan, India
Prism Johnson Limited₹7,438.38 Cr (FY 2025)0.0%Hyderabad, Telangana, India

To see the full peer comparison of Solar Industries India Limited, buy the company report.

Auditor

Solar Industries India Limited is audited by Gandhi Rathi & Co. for the financial year 2025.

Auditor firmFinancial yearFirm registration number
Gandhi Rathi & Co.FY 2025103031W

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 73.20%, foreign institutional investors hold 6.40%, domestic institutional investors hold 13.40% and retail and other public shareholders hold 7.10%.

Promoters: 73.20%DII (Domestic Institutional): 13.40%FII (Foreign Institutional): 6.40%Retail & Others: 7.10%
Sep 2026
QUARTER
73.20% Promoters
13.40% DII (Domestic Institutional)
6.40% FII (Foreign Institutional)
7.10% Retail & Others
Promoter holding - history
Now 73.20% · Sep 2026High 73.20% · Dec 2025Low 73.20% · Dec 2025
72%72.8%73.5%74.3%75%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 73.20%Mar 2026: 73.20%Jun 2026: 73.20%Sep 2026: 73.20%73.20%73.20%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters73.20%73.20%73.20%73.20%
Public26.80%26.80%26.80%26.80%

Charges & borrowings

Open charges
₹1,290.7 Cr
Satisfied charges
₹378.07 Cr
Breakdown by lending institutions
Others₹1,290.70 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
01 Sep 201010240188Others₹1,290.7 CrOpen
12 Jan 2017100075724State Bank of India₹50 CrSatisfied
03 May 200610157448Citicorp Finance (India) Limited₹1.82 CrSatisfied
25 Apr 200610003274Citicorp Finance (India) Ltd₹82.87 LakhSatisfied
17 Jan 200480013507Bank of India₹90 CrSatisfied

To see the full charge records of Solar Industries India Limited, buy the company report.

Total charge records: 54 View all charges

Deals & funding

Solar Industries India Limited has 27 deals on record (23 market trades, 1 debt financing, 1 secondary share transfer), with disclosed funding of ₹132.83 Cr; the latest was in October 2025.

Total deals
27
Market trades
23
Debt financing
1
Secondary share transfer
1
Funding round
1
Disclosed funding
₹132.83 Cr

Deals on record (5 of 27)

WhenDealAmountParties
Apr 2006Market trade₹5.93 CrBuyer: H J Securities Private Limited
Seller: H J Securities Private Limited
Apr 2006Market trade₹3.02 CrBuyer: Asit C Mehta Investment Interrmediates Ltd
Seller: Asit C Mehta Investment Interrmediates Ltd
Apr 2006Market trade₹2.3 CrBuyer: Asit C Mehta Investment Interrmediates Ltd
Seller: Asit C Mehta Investment Interrmediates Ltd
Apr 2006Market trade₹36.89 CrBuyer: Sam Global Securities Lim, Amu Shares And Sec Ltd, MBL and Company Limited , an individual
Seller: Sam Global Securities Lim, Amu Shares And Sec Ltd, MBL and Company Limited , an individual
Apr 2006Market trade₹46.55 CrBuyer: Composite Securities Limited , Jf Asset Management Ltd, Hdfc Trustee Company Ltd A/C Hdfc Prudence Fund, an individual
Seller: Composite Securities Limited , Neptune Fincot Private Limited , 2 individuals

To see the full deal history of Solar Industries India Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Solar Industries India Limited was last rated by Icra on 29 Nov 2021.

Rating agencyRated onRating
Icra29 Nov 2021

To see the full credit ratings and regulatory alerts of Solar Industries India Limited, buy the company report.

MSME payment delays

Solar Industries India Limited has 18 MSME Form 1 returns on record between 2016 and 2023, listing 197 overdue payments to 52 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 52)

SupplierAmount dueDue sinceReported on
an individual supplier
Gaerish Logistics Private Limited
Propix Technologies Private Limited
Kinetic Polymers
an individual supplier

To see the full MSME payment records of Solar Industries India Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Group structure & subsidiaries

Solar Industries India has 7 subsidiary companies and 1 associated company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.

7
Subsidiary companies
1
Associated companies
Key subsidiaries
Company NameCINShares held
Solar Explochem LimitedU24290MH2022PLC381746
Rajasthan Explosives and Chemicals LimitedU24292MH1979PLC409419
Economic Explosives LimitedU24292MH1995PLC091808
Emul Tek Private LimitedU24292MH2000PTC274027
Solar Defence LimitedU29220MH2016PLC274147
Solar Defence Systems LimitedU29253MH2016PLC274677

To see the full group structure of Solar Industries India Limited, buy the company report.

Employees & EPFO

Solar Industries India Limited has a workforce of 2,442 employees on its EPFO records as of Jan 31, 2026, across 1 active EPFO establishment.

Employee count
2,442
Active EPFO establishments
1
Employee growth
7.81%

GST

Solar Industries India has 16 GST registrations: 11 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
16
Active
11
Cancelled / inactive
5
GSTINStateStatusRegistered on
27AACCS2132E1ZTMaharashtraActive01 Jul 2017
27AACCS2132E2ZSMaharashtraActive02 Jul 2017
08AACCS2132E1ZTRajasthanActive01 Jul 2017
19AACCS2132E1ZQWest BengalActive01 Jul 2017

To see the full GST registrations and return filing status of Solar Industries India Limited, buy the company report.

Recent activity

Solar Industries India Limited has 56 board changes on record since 1995: 33 appointments and 23 cessations. The latest: Reena Jha Tripathi was appointed as Director on 15 May 2026.

AGM
Solar Industries India Limited last Annual general meeting of members was held on 11 Aug 2026 as per latest MCA records.
Appointed
Reena Jha Tripathi was appointed as Director.
Filing
Solar Industries India Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Nagpur.
Ceased
Jagdish Chandra Belwal ceased to be Director.
Appointed
Ramesh Bhujang was appointed as Director.
Ceased
Natrajan Ramkrishna ceased to be Director.
Appointed
Viswanathan Lakshmanan was appointed as Director.
Ceased
Rashmi Prasad ceased to be Director.
Appointed
Girija Balakrishnan was appointed as Director.
Charges
A charge with Others of Rs. 1,290.70 Cr registered on 01 Sep 2010 with Charge ID 10240188 was modified on 19 Jun 2024.
Ceased
Amrendra Prasad Verma ceased to be Director.
Appointed
Dinesh Kumar Batra was appointed as Director.

163 earlier events are in the company report.

News

Solar Industries: Goldman Sachs on Solar Industries maintains Buy, Target Price Rs 26550; Q2 results exceeded estimates across key parameters, led by 98% YoY revenue growth in Defence and 57% growth in international businesses. Commercial explosives revenue increased 61% YoY, although it declined 29% QoQ due to seasonality in India. Despite volatile ammonium nitrate prices, the company managed the commodity cycle with limited impact on profitability.
04 Nov 2026 · Exchange Update
Solar Industries: Says Pinaka Orders Could Bring Inflows Of Rs. 2,600 Crore - Interview
04 Nov 2026 · Exchange Update
Solar Industries: Expects Revenue And EBITDA Will Exceed FY27 Guidance
04 Nov 2026 · Exchange Update
SOLARINDS: Q2 CONS NET PROFIT 6.2B RUPEES VS 3.45B (YOY); EST 5.4B
03 Nov 2026 · Exchange Update
SOLARINDS: Q2 REVENUE 35.2B RUPEES VS 20.8B (YOY)
03 Nov 2026 · Exchange Update
SOLARINDS: Q2 EBITDA 10B RUPEES VS 5.53B (YOY); Q2 EBITDA MARGIN 28.6% VS 26.56% (YOY)
03 Nov 2026 · Exchange Update

Frequently asked questions

Solar Industries India is an active public limited company based in Nagpur, Maharashtra, India. The company works in jewellery, within the musical instruments industry. It was incorporated on 24 February 1995 (31+ years old) and is registered under CIN L74999MH1995PLC085878. Listed on BSE: 532725 and NSE: SOLARINDS.

Solar Industries India reported revenue of ₹9,837.74 Cr for FY 2025-26 (up 30.5% YoY) based on consolidated financials.

Solar Industries India has 8 current directors:

The latest financial statements of Solar Industries India on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 11 August 2026. Year-wise statements from 2015 are in the company report.

The GSTIN of Solar Industries India is 27AACCS2132E1ZT, registered in Maharashtra. The company has 16 GST registrations in all, of which 11 are active and 5 are cancelled or inactive. Other active GSTINs include 27AACCS2132E2ZS (Maharashtra), 08AACCS2132E1ZT (Rajasthan), 19AACCS2132E1ZQ (West Bengal).

The CIN (Corporate Identification Number) of Solar Industries India is L74999MH1995PLC085878. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Solar Industries India is a listed company as per MCA records. Its shares are listed on both BSE (code: 532725) and NSE (symbol: SOLARINDS).

Solar Industries India has 98 court cases on record: 34 filed by the company and 65 filed against it. 23 are pending. Most are in the district courts.

Solar Industries India was incorporated on 24 February 1995, making it 31+ years old. It is registered with the Registrar of Companies, Nagpur.

Solar Industries India has 27 deals on record (23 market trades, 1 debt financing, 1 secondary share transfer), with disclosed funding of ₹132.83 Cr; the latest was in October 2025.

The peers of Solar Industries India by revenue are Varroc Engineering Limited, Wonder Cement Limited, Prism Johnson Limited, all in the same principal business activity (other manufacturing).

Reena Jha Tripathi was appointed as Director on 15 May 2026. Jagdish Chandra Belwal ceased to be Director on 05 Dec 2025. Ramesh Bhujang was appointed as Director on 03 Dec 2025. Solar Industries India has 56 board changes on record in total.