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Solar Industries India Ltd — Q4 FY26
Solar Industries delivered a landmark Q4 FY26 with consolidated revenue of ₹3,353 crore (+55% YoY) and EBITDA of ₹870 crore (+59% YoY), driven by a 134% surge in defense revenue to ₹1,108 crore and 32% growth in international business.
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Solar Industries delivered a landmark Q4 FY26 with consolidated revenue of ₹3,353 crore (+55% YoY) and EBITDA of ₹870 crore (+59% YoY), driven by a 134% surge in defense revenue to ₹1,108 crore and 32% growth in international business. Full-year revenue crossed ₹9,838 crore (+30% YoY) with EBITDA margin of 27.95%, exceeding guidance. Management guided for FY27 revenue of ₹14,000 crore (42% growth) while maintaining current margins, supported by a record order book of ₹21,300 crore (defense: ₹18,000 crore). Key growth drivers include capacity expansion in domestic markets, new geographies in Africa and Southeast Asia, and advanced defense products (Bharatvastra, 155mm ammunition). Capex for FY27 is planned at ₹250 crore. Risk: sharp commodity price increases could compress near-term margins if pass-through is delayed.
सोलर इंडस्ट्रीज ने वित्त वर्ष 2026 की चौथी तिमाही में शानदार प्रदर्शन किया। कंपनी की कुल कमाई ₹3,353 करोड़ रही, जो पिछले साल से 55% ज्यादा है। मुनाफा (EBITDA) ₹870 करोड़ रहा, जो 59% बढ़ा। इसकी वजह रक्षा क्षेत्र में 134% की बढ़ोतरी (₹1,108 करोड़) और अंतरराष्ट्रीय कारोबार में 32% की वृद्धि है। पूरे साल की कमाई ₹9,838 करोड़ (+30%) और मुनाफा मार्जिन 27.95% रहा, जो अनुमान से बेहतर है। अगले साल कंपनी ₹14,000 करोड़ कमाई का लक्ष्य रखती है, जो 42% ज्यादा है। इसके लिए ₹21,300 करोड़ का ऑर्डर बुक है, जिसमें ₹18,000 करोड़ रक्षा के हैं। कंपनी नए बाजारों (अफ्रीका, दक्षिण-पूर्व एशिया) और उन्नत रक्षा उत्पादों पर ध्यान देगी। पूंजी निवेश ₹250 करोड़ रहेगा। जोखिम: कच्चे माल की कीमतें बढ़ने से मुनाफा कम हो सकता है।
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Defense Revenue (Q4 FY26)
₹1,108 crore
+134% YoY
Defense revenue nearly doubled, now 33% of quarterly sales mix.
Order Book
₹21,300 crore
+84% YoY
Defense orders constitute ₹18,000 crore; non-defense ₹3,000 crore.
International Revenue Growth (FY26)
₹3,800 crore
+32% YoY
International business grew 32% in FY26, driven by Africa and new geographies.
Domestic Revenue Growth (FY26)
~4%
+4% YoY
Domestic grew ~4% despite flat mining volumes; market share gains via new plants.
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Management targets 42% revenue growth to ₹14,000 crore in FY27, driven by 30%+ growth in international and defense, and 10-15% volume growth in dom...
Sharp rise in raw material prices (ammonium nitrate, crude derivatives) may compress margins if pass-through is delayed or incomplete.
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