Solar Industries share price hit a new 52-week high of ₹22,188 on Monday, September 7, 2026, surging 3% in an otherwise weak market, demonstrating continued strong momentum. According to Business Standard, the stock has outperformed significantly, soaring 21% in the past month compared to a 2.9% decline in the BSE Sensex. The explosives company's market capitalisation crossed ₹2 trillion for the first time, reaching ₹200,020 crore as of Monday's trading session. Solar Industries now stands at the 45th position in the overall market cap ranking, a significant improvement from 90th rank at the beginning of calendar year 2026. The stock has zoomed 84% from its March 2026 low of ₹12,036, reflecting exceptional investor confidence in the company's growth trajectory.
The company's financial transformation over five years demonstrates remarkable growth across all key metrics. From FY21 to FY26, Solar Industries reported consolidated revenue of ₹2,515.63 crore to ₹9,837.74 crore, representing a 3.9x increase. EBITDA climbed from ₹536.02 crore to ₹2,749.79 crore, with margins expanding from 21.3% to 28%, while profit after tax surged from ₹276.35 crore to ₹1,737 crore, showing a 6.3x growth. The company's market capitalisation grew from ₹11,560 crore at the end of FY21 to ₹1,09,239 crore at the end of FY26. During Q1FY27, Solar Industries reported its highest-ever quarterly revenue, EBITDA, profit before tax (PBT) and profit after tax (PAT). The firm's revenue from operations meanwhile surged over 70% YoY to ₹3,668 crore during the April-June quarter of the ongoing financial year 2027, from ₹2,154 crore reported in the same period of FY26. Earnings before interest, taxes, depreciation and amortisation, or EBITDA, rose 90% to ₹1,015 crore from ₹534.9 crore, with EBITDA margin expanding to 27.7% from 24.8% year-on-year.
The defence segment witnessed robust growth of 123% YoY in Q1, led by strong execution in key contracts. As reported by Business Standard, the defence order book remained robust at >₹21,000 crore as of March 31, 2026, including a ₹6,084-crore order for the supply of Pinaka rockets. In the June 2026 quarter, defence revenue jumped 123% year-on-year to ₹933 crore, accounting for 26% of sales compared with 19% a year earlier. Management guides defence segment revenue to reach ~₹4,500 crore in FY27 (+70% YoY). The company is expanding into newer areas such as UAVs, robotics, missiles and long-range munitions, while continued capacity additions and ₹450 crore capex already deployed in Q1FY27 support further scale-up. The management said they remain confident of securing sizeable new orders in the coming quarters and supporting the long-term growth trajectory of the defence business.
The company maintains a consolidated order book as of June 30, 2026, stood at ₹21,350 crore, offering strong medium-term visibility for sustained growth. In June 2026, Solar Industries secured ₹1,076 crore in defence export orders and dispatched completed Pinaka Enhanced MK-I rockets to the Indian Army, further cementing its leadership in private defence manufacturing. Management has maintained a bold full-year FY27 revenue guidance of ₹14,000 crore, supported by its ₹21,350 crore order backlog. According to CNBC-Awaaz, the company has earmarked ₹2,050 crore for capital expenditure in FY27, of which about ₹450 crore was deployed during the first quarter. The company is also expanding manufacturing capacity, including facilities in Dhule, Dholpur and Odisha. Analysts estimate revenue & profit after tax to grow at 30% & 32% compound annual growth rate (CAGR) respectively over FY26-28E.
