Solar Industries Share Price ₹22,290 | P/E 101.3

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Solar Industries

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales +	1,929	1,682	1,347	1,429	1,611	1,685	1,716	1,973	2,167	2,154	2,082	2,548	3,053
Expenses +	1,571	1,359	1,012	1,074	1,257	1,235	1,271	1,447	1,629	1,620	1,530	1,840	2,227
Operating Profit	357	323	335	355	354	449	445	527	537	535	552	708	826
OPM %	19%	19%	25%	25%	22%	27%	26%	27%	25%	25%	26%	28%	27%
Other Income +	11	8	8	11	20	26	36	10	7	29	29	25	46
Interest	31	25	25	28	32	27	30	31	29	27	31	34	41
Depreciation	35	34	34	39	37	40	44	47	50	56	61	63	71
Profit before tax	302	272	285	299	305	408	407	459	464	481	490	636	759
Tax %	27%	26%	27%	26%	21%	26%	25%	26%	25%	27%	26%	27%	27%
Net Profit +	221	202	209	222	243	301	304	338	346	353	361	467	556
EPS in Rs	22.78	21.82	22.12	22.47	25.98	31.66	31.59	34.80	35.61	37.43	38.12	49.31	60.52

Financials of Solar Industries

Annual income statement trend

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales +	1,276	1,449	1,580	1,916	2,462	2,237	2,516	3,948	6,918	6,070	7,540	9,838
Expenses +	1,022	1,144	1,256	1,505	1,960	1,803	2,001	3,199	5,582	4,588	5,514	7,216
Operating Profit	254	304	324	412	502	434	515	748	1,336	1,482	2,026	2,622
OPM %	20%	21%	20%	21%	20%	19%	20%	19%	19%	24%	27%	27%
Other Income +	-2	13	13	12	9	41	21	19	-16	-68	10	128
Interest	18	20	27	33	50	55	45	50	90	109	116	134
Depreciation	31	33	39	51	59	85	94	109	128	143	182	251
Profit before tax	203	264	271	340	402	336	397	607	1,102	1,161	1,739	2,365
Tax %	23%	33%	28%	31%	31%	17%	27%	25%	26%	25%	26%	27%
Net Profit +	156	178	195	234	277	279	288	455	811	875	1,288	1,737
EPS in Rs	16.29	18.08	20.61	24.37	28.91	29.55	30.54	48.77	83.68	92.38	133.65	185.38
Dividend Payout %	21%	25%	24%	25%	24%	20%	20%	15%	10%	9%	7%	6%

Financials of Solar Industries

Capital structure and asset base

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	18	18	18	18	18	18	18	18	18	18	18	18
Reserves	758	787	910	1,066	1,220	1,362	1,561	1,896	2,592	3,288	4,368	6,259
Borrowings +	371	398	501	518	603	708	808	888	1,195	1,138	975	1,524
Other Liabilities +	243	309	292	387	411	393	572	827	1,104	1,134	2,744	3,117
Total Liabilities	1,389	1,512	1,722	1,988	2,253	2,481	2,959	3,629	4,909	5,577	8,106	10,918
Fixed Assets +	585	703	777	923	1,043	1,209	1,288	1,493	1,702	2,028	2,692	4,045
CWIP	61	30	91	107	178	165	293	230	282	490	707	692
Investments	37	40	53	17	33	2	1	18	99	370	676	183
Other Assets +	706	739	801	940	1,000	1,105	1,378	1,888	2,826	2,690	4,030	5,999
Total Assets	1,389	1,512	1,722	1,988	2,253	2,481	2,959	3,629	4,909	5,577	8,106	10,918

Financials of Solar Industries

Operating, investing and financing cash movement

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	230	243	118	254	314	325	357	298	656	1,406	2,468	621
Cash from Investing Activity +	-149	-141	-170	-174	-254	-260	-253	-338	-614	-1,022	-1,660	-1,164
Cash from Financing Activity +	-177	-92	53	-53	-52	-34	-26	-45	118	-370	-476	209
Net Cash Flow	-96	11	0	27	9	32	77	-85	160	14	331	-334
Free Cash Flow	118	103	-56	31	64	87	96	17	183	858	1,466	-1,072
CFO/OP	112%	95%	55%	83%	88%	100%	90%	61%	68%	115%	142%	49%

Financials of Solar Industries

Working capital efficiency and return ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	55	68	74	69	59	60	66	50	44	51	60	69
Inventory Days	83	67	73	80	74	99	119	113	92	97	97	130
Days Payable	31	45	36	49	43	46	78	73	41	37	46	47
Cash Conversion Cycle	106	90	111	100	90	113	108	90	95	111	111	152
Working Capital Days	51	34	27	32	17	21	33	41	31	39	37	74
ROCE %	19%	23%	22%	24%	26%	19%	19%	25%	36%	32%	38%	37%

Sudarshan Chemical Industries Ltd (Q1 FY27)
The net debt has already been reduced significantly from Rs.922 Crores at acquisition to Rs.531 Crores. Key concall takeaways from Sudarshan Chemical…
Indo Borax & Ch. (Q1 FY27)
250-260 crores in FY27 with about 20% EBITDA margin, growing at 11-12% annually in absolute terms. Key concall takeaways from Indo Borax & Chemicals Ltd's Q1…
SRF (Q1 FY27)
Chemicals business is guided for 15-20% growth in FY27, with a strong Q1 performance positioning the company to possibly hit the higher end of this range (Page…
Deepak Fertilis. (Q1 FY27)
Long-term demand-supply balance looks stable with 6-7% market growth, supporting sustained revenues despite new capacity additions. Key concall takeaways from…

Solar Industries Q4 FY26 Share Price & Earnings Call Analysis