Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: April 2, 2026, 2:31 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532725 | NSE: SOLARINDS

Solar Industries India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹11,768.10Fairly Valued by 8.11%vs CMP ₹12,807.00

P/E (79.8) × ROE (32.6%) × BV (₹565.00) × DY (0.08%)

₹4,778.68Overvalued by 62.69%vs CMP ₹12,807.00
MoS: -168% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹14,933.2523%Under (+16.6%)
Graham NumberEarnings₹1,428.2817%Over (-88.8%)
Earnings PowerEarnings₹762.2211%Over (-94%)
DCFCash Flow₹4,041.5111%Over (-68.4%)
Net Asset ValueAssets₹565.127%Over (-95.6%)
EV/EBITDAEnterprise₹2,830.009%Over (-77.9%)
Earnings YieldEarnings₹1,604.707%Over (-87.5%)
ROCE CapitalReturns₹1,103.689%Over (-91.4%)
Revenue MultipleRevenue₹1,249.316%Over (-90.2%)
Consensus (9 models)₹4,778.68100%Overvalued
Key Drivers: EPS CAGR 26.9% lifts DCF — verify sustainability. | Wide model spread (₹565–₹14,933) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 26.9%

*Investments are subject to market risks

Investment Snapshot

78
Solar Industries India Ltd scores 78/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health83/100 · Strong
ROCE 38.1% ExcellentROE 32.6% ExcellentD/E 0.39 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.92% (6mo) Slight increaseDII holding down 1.19% MF sellingPromoter holding at 73.2% Stable
Earnings Quality75/100 · Strong
OPM expanding (19% → 26%) ImprovingWorking capital: 37 days (improving) Efficient
Quarterly Momentum90/100 · Strong
Revenue (4Q): +28% YoY AcceleratingProfit (4Q): +29% YoY Strong
Industry Rank75/100 · Strong
P/E 79.8 vs industry 44.4 Premium to peersROCE 38.1% vs industry 20.7% Above peersROE 32.6% vs industry 17.4% Above peers3Y sales CAGR: 24% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:31 am

Market Cap 1,15,942 Cr.
Current Price 12,807
Intrinsic Value₹4,778.68
High / Low 17,820/9,888
Stock P/E79.8
Book Value 565
Dividend Yield0.08 %
ROCE38.1 %
ROE32.6 %
Face Value 2.00
PEG Ratio2.97

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Solar Industries India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Solar Industries India Ltd 1,15,942 Cr. 12,807 17,820/9,88879.8 5650.08 %38.1 %32.6 % 2.00
Premier Explosives Ltd 2,256 Cr. 420 684/30948.1 51.30.12 %16.9 %12.2 % 2.00
GOCL Corporation Ltd 1,337 Cr. 270 418/2235.42 5643.71 %7.02 %7.45 % 2.00
Industry Average39,845.00 Cr4,499.0044.44393.431.30%20.67%17.42%2.00

All Competitor Stocks of Solar Industries India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,8121,9291,6821,3471,4291,6111,6851,7161,9732,1672,1542,0822,548
Expenses 1,4621,5711,3591,0121,0741,2571,2351,2711,4471,6291,6201,5301,840
Operating Profit 350357323335355354449445527537535552708
OPM % 19%19%19%25%25%22%27%26%27%25%25%26%28%
Other Income 7118811202636107292925
Interest 25312525283227303129273134
Depreciation 32353434393740444750566163
Profit before tax 299302272285299305408407459464481490636
Tax % 27%27%26%27%26%21%26%25%26%25%27%26%27%
Net Profit 219221202209222243301304338346353361467
EPS in Rs 22.6122.7821.8222.1222.4725.9831.6631.5934.8035.6137.4338.1249.31

Last Updated: February 6, 2026, 10:47 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,0731,2761,4491,5801,9162,4622,2372,5163,9486,9186,0707,5408,952
Expenses 8681,0221,1441,2561,5051,9601,8032,0013,1995,5824,5885,5146,620
Operating Profit 2052543043244125024345157481,3361,4822,0262,332
OPM % 19%20%21%20%21%20%19%20%19%19%24%27%26%
Other Income 1-21313129412119-16-681090
Interest 20182027335055455090109116121
Depreciation 2231333951598594109128143182230
Profit before tax 1642032642713404023363976071,1021,1611,7392,071
Tax % 21%23%33%28%31%31%17%27%25%26%25%26%
Net Profit 1301561781952342772792884558118751,2881,527
EPS in Rs 13.0916.2918.0820.6124.3728.9129.5530.5448.7783.6892.38133.65160.47
Dividend Payout % 0%21%25%24%25%24%20%20%15%10%9%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)20.00%14.10%9.55%20.00%18.38%0.72%3.23%57.99%78.24%7.89%47.20%
Change in YoY Net Profit Growth (%)0.00%-5.90%-4.55%10.45%-1.62%-17.65%2.50%54.76%20.26%-70.35%39.31%

Solar Industries India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:19%
5 Years:28%
3 Years:24%
TTM:32%
Compounded Profit Growth
10 Years:23%
5 Years:36%
3 Years:42%
TTM:36%
Stock Price CAGR
10 Years:35%
5 Years:67%
3 Years:59%
1 Year:27%
Return on Equity
10 Years:27%
5 Years:30%
3 Years:33%
Last Year:33%

Last Updated: September 4, 2025, 9:45 pm

Balance Sheet

Last Updated: December 4, 2025, 12:52 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 18181818181818181818181818
Reserves 6437587879101,0661,2201,3621,5611,8962,5923,2884,3685,098
Borrowings 4843713985015186037088088881,1951,138975876
Other Liabilities 2072433092923874113935728271,1041,1342,7443,025
Total Liabilities 1,3521,3891,5121,7221,9882,2532,4812,9593,6294,9095,5778,1069,017
Fixed Assets 4915857037779231,0431,2091,2881,4931,7022,0282,6923,240
CWIP 81613091107178165293230282490707790
Investments 253740531733211899370676278
Other Assets 7557067398019401,0001,1051,3781,8882,8262,6904,0304,709
Total Assets 1,3521,3891,5121,7221,9882,2532,4812,9593,6294,9095,5778,1069,017

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1702302431182543143253572986561,4062,468
Cash from Investing Activity + -161-149-141-170-174-254-260-253-338-614-1,022-1,660
Cash from Financing Activity + 31-177-9253-53-52-34-26-45118-370-476
Net Cash Flow 41-961102793277-8516014331
Free Cash Flow 9118103-5631648796171838581,466
CFO/OP 97%112%95%55%83%88%100%90%61%68%115%142%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-279.00-117.00-94.00-177.00-106.00-101.00-274.00-293.00-140.000.000.00-973.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 635568746959606650445160
Inventory Days 94836773807499119113929797
Days Payable 243145364943467873413746
Cash Conversion Cycle 13410690111100901131089095111111
Working Capital Days 155134273217213341313937
ROCE %18%19%23%22%24%26%19%19%25%36%32%38%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.15%73.15%73.15%73.15%73.15%73.15%73.15%73.15%73.15%73.15%73.15%73.15%
FIIs 6.63%5.79%5.89%5.90%6.10%7.56%7.53%7.23%5.82%6.79%7.11%6.74%
DIIs 14.32%15.01%15.24%15.05%14.52%12.74%12.68%12.78%14.10%13.59%12.90%12.91%
Public 5.91%6.04%5.71%5.88%6.22%6.54%6.64%6.82%6.92%6.47%6.84%7.20%
No. of Shareholders 51,94351,19950,10357,92664,37772,85378,40283,95995,38097,7121,05,0141,13,869

Shareholding Pattern Chart

No. of Shareholders

Solar Industries India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund 1,790,000 2.97 2412.922,778,6562025-12-08 00:51:45-35.58%
SBI Focused Fund 1,100,000 3.45 1482.8N/AN/AN/A
Kotak Flexicap Fund 1,000,000 2.39 1348N/AN/AN/A
Kotak Midcap Fund 985,817 2.25 1328.88N/AN/AN/A
HDFC Defence Fund 615,157 10.64 829.23N/AN/AN/A
Axis Midcap Fund 372,310 1.62 501.87409,8112026-02-23 05:38:10-9.15%
Edelweiss Mid Cap Fund 184,763 1.8 249.06180,5472026-02-23 05:38:102.34%
Canara Robeco Large and Mid Cap Fund 183,604 1 247.5148,6042026-01-26 00:40:5823.55%
Mirae Asset Large Cap Fund 181,526 0.61 244.7N/AN/AN/A
PGIM India Midcap Fund 176,582 2.21 238.03219,0602026-01-26 00:40:58-19.39%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 133.6592.3883.6848.7730.54
Diluted EPS (Rs.) 133.6592.3883.6848.7730.54
Cash EPS (Rs.) 161.75112.51103.83114.7942.17
Book Value[Excl.RevalReserv]/Share (Rs.) 484.68378.70303.94222.64181.45
Book Value[Incl.RevalReserv]/Share (Rs.) 484.68378.70303.94222.64181.45
Revenue From Operations / Share (Rs.) 833.18670.66764.92436.20277.97
PBDIT / Share (Rs.) 224.44156.21145.90143.6559.23
PBIT / Share (Rs.) 204.39140.36131.7479.1948.89
PBT / Share (Rs.) 191.51128.28121.7567.1243.88
Net Profit / Share (Rs.) 141.7096.6789.6650.3331.83
NP After MI And SOA / Share (Rs.) 133.6492.3783.6748.7630.54
PBDIT Margin (%) 26.9323.2919.0732.9321.30
PBIT Margin (%) 24.5320.9217.2218.1517.58
PBT Margin (%) 22.9819.1215.9115.3815.78
Net Profit Margin (%) 17.0014.4111.7211.5311.45
NP After MI And SOA Margin (%) 16.0313.7710.9311.1710.98
Return on Networth / Equity (%) 27.5725.2829.0023.0517.49
Return on Capital Employeed (%) 30.0829.9835.0227.4920.01
Return On Assets (%) 14.6314.5715.0311.849.12
Long Term Debt / Equity (X) 0.080.170.180.220.27
Total Debt / Equity (X) 0.210.330.440.450.39
Asset Turnover Ratio (%) 1.081.131.581.000.76
Current Ratio (X) 1.951.761.531.491.50
Quick Ratio (X) 1.461.200.850.840.95
Inventory Turnover Ratio (X) 7.992.794.204.613.88
Dividend Payout Ratio (NP) (%) 6.358.658.9612.3019.64
Dividend Payout Ratio (CP) (%) 5.537.397.665.2914.67
Earning Retention Ratio (%) 93.6591.3591.0487.7080.36
Cash Earning Retention Ratio (%) 94.4792.6192.3494.7185.33
Interest Coverage Ratio (X) 17.4412.9314.6111.9011.81
Interest Coverage Ratio (Post Tax) (X) 12.019.009.985.177.35
Enterprise Value (Cr.) 102107.2180453.1134676.5926241.0212075.53
EV / Net Operating Revenue (X) 13.5413.265.016.654.80
EV / EBITDA (X) 50.2756.9126.2620.1822.53
MarketCap / Net Operating Revenue (X) 13.4913.104.866.434.60
Retention Ratios (%) 93.6491.3491.0387.6980.35
Price / BV (X) 23.2024.0512.8813.257.32
Price / Net Operating Revenue (X) 13.4913.104.866.434.60
EarningsYield 0.010.010.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Solar Industries India Ltd. is a Public Limited Listed company incorporated on 24/02/1995 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L74999MH1995PLC085878 and registration number is 085878. Currently Company is involved in the business activities of Manufacture of explosives, ammunition and fire works. Company's Total Operating Revenue is Rs. 4456.60 Cr. and Equity Capital is Rs. 18.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Industrial ExplosivesSolar House, 14, Kachimet, Nagpur Maharashtra 440023Contact not found
Management
NamePosition Held
Mr. Satyanarayan NuwalChairman & Non-Exe.Director
Mr. Manish NuwalManaging Director & CEO
Mr. Suresh MenonExecutive Director
Mr. Milind DeshmukhExecutive Director
Mr. Natrajan RamkrishnaInd. Non-Executive Director
Mr. Jagdish Chandra BelwalInd. Non-Executive Director
Mrs. Rashmi PrasadInd. Non-Executive Director
Mr. Dinesh Kumar BatraInd. Non-Executive Director

FAQ

What is the intrinsic value of Solar Industries India Ltd and is it undervalued?

As of 15 April 2026, Solar Industries India Ltd's intrinsic value is ₹4778.68, which is 62.69% lower than the current market price of ₹12,807.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (32.6 %), book value (₹565), dividend yield (0.08 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Solar Industries India Ltd?

Solar Industries India Ltd is trading at ₹12,807.00 as of 15 April 2026, with a FY2026-2027 high of ₹17,820 and low of ₹9,888. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,15,942 Cr..

How does Solar Industries India Ltd's P/E ratio compare to its industry?

Solar Industries India Ltd has a P/E ratio of 79.8, which is above the industry average of 44.44. The premium over industry average may reflect growth expectations or speculative interest.

Is Solar Industries India Ltd financially healthy?

Key indicators for Solar Industries India Ltd: ROCE of 38.1 % indicates efficient capital utilization; ROE of 32.6 % shows strong shareholder returns. Dividend yield is 0.08 %.

Is Solar Industries India Ltd profitable and how is the profit trend?

Solar Industries India Ltd reported a net profit of ₹1,288 Cr in Mar 2025 on revenue of ₹7,540 Cr. Compared to ₹455 Cr in Mar 2022, the net profit shows an improving trend.

Does Solar Industries India Ltd pay dividends?

Solar Industries India Ltd has a dividend yield of 0.08 % at the current price of ₹12,807.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Solar Industries India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports