Solar Industries Q4 Results: ₹10,000 crore revenue seen in FY26; Defence topline may double

Solar Industries Ltd., the manufacturer of explosives and defence solutions, is anticipating revenue of ₹10,000 crore in the current financial year, a growth of 33% from the year gone by.

The management also expects the company's defence business to contribute ₹3,000 crore of that projection, taking its total contribution to the overall topline to 30% from the 18% figure it had at the end of financial year 2027.

The defence business projection of ₹3,000 crore in revenue is more than double the ₹1,355 crore figure it reported during the full financial year 2025. The number is marginally lower than the management guidance of ₹1,400 crore to ₹1,500 crore, given at the end of the third quarter.

Solar Industries has also planned a capex of ₹2,500 crore in financial year 2026, which is also more than double of the ₹1,200 crore they spent in the previous year.

The capex will be used to unlock new opportunities, scaling existing capabilities, upgrading technology and expanding the product portfolio, including advanced munitions and aerospace solutions. The company has also signed an MoU worth ₹12,700 crore with the Maharashtra government to invest in defence and aerospace over the next decade.

For the March quarter, Solar Industries reported a 43.4% growth in its net profit to ₹348 crore, while its revenue grew by 34.5% to ₹2,166.6 crore from ₹1,610.7 crore last year.

Solar Industries' Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 52.6% from last year to ₹539.7 crore, while margins expanded by nearly 300 basis points to 24.9% from 22% during the year-ago quarter.

The company has also declared a dividend of ₹10 per share for its shareholders.

Shares of Solar Industries ended off the lows of the day, but 1.75% lower at ₹13,465. The stock is up 8% in the last one month and has gained 37% so far in 2025.