Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Solar Industries India Ltd
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 India Ltd
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 India Ltd
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 India Ltd
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 India Ltd
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% |