Solar Industries India Ltd, a prominent manufacturer of industrial explosives and defence products, announced robust financial results for the second quarter of 2026. The company's net profit saw an impressive 80% increase, reaching ₹650 crore, up from ₹361 crore in the corresponding period last year. Revenue also surged by 69%, crossing the ₹3,500 crore mark to settle at ₹3,519 crore, compared to ₹2,082 crore in Q2 of the previous fiscal year.
Following the announcement on November 3, 2026, shares of Solar Industries gained 7.48%, trading at ₹20,860. This pushed the company's market capitalization to ₹1.84 lakh crore. The stock has demonstrated low volatility over the past year, with a beta of 0.85, and has risen 72% from its 52-week low recorded in December 2025.
Further highlighting its strong operational efficiency, Solar Industries reported a 75% rise in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) to ₹1,021 crore, up from ₹582 crore year-on-year. The EBITDA margin improved by 107 basis points, reaching 29.02% in Q2 2026 from 27.95% in the prior year's second quarter.
Manish Nuwal, Managing Director and CEO of Solar Industries, attributed the strong performance to diverse contributions. “Performance was supported by contributions from Domestic Explosives, International Explosives and Defence. The results reflect the resilience of our business model, disciplined execution and the benefits of our strategic investments,” Nuwal stated.
He further elaborated on the domestic segment's success, adding, “Our Domestic Explosives business delivered a healthy performance during the quarter, supported by demand from the mining and infrastructure sectors, stronger customer engagement, an expanded manufacturing footprint and technical-service capabilities enabling us to serve customers efficiently and participate in India’s long-term mining and infrastructure growth.”
Solar Industries is an India-based company primarily engaged in the manufacturing of industrial explosives used in the mining and infrastructure sectors, alongside a growing portfolio of defence products.