Solar Industries Q2 Profit Rises 21% to ₹345 Crore, Defence Business Drives Growth

11 Nov 2025 , 10:29 AM

Explosives manufacturer Solar Industries Ltd. said it remains confident of meeting its financial year 2026 guidance, supported by strong traction in its Defence segment and a robust order book.

Managing Director and CEO Manish Nuwal noted that the mining business faced muted demand during the September quarter due to prolonged monsoon conditions, which weighed on explosive consumption in the sector. However, the Defence vertical continued to outperform, marking what the company described as the beginning of a new growth phase.

For the first half of FY26, the Defence business generated ₹900 crore in revenue, a 57% jump from the year-ago period, and already accounts for nearly one-third of Solar’s full-year target of ₹3,000 crore.

During the September quarter, consolidated net profit rose 20.6% year-on-year to ₹345 crore, compared with ₹286 crore last year. Revenue from operations grew 21.4% to ₹2,082 crore. For the first half, total revenue stood at ₹4,237 crore . This is about 42% of its annual guidance of ₹10,000 crore and 25% higher than the same period last year.

The company’s international business also delivered its strongest-ever quarterly performance, growing 21% year-on-year to ₹960 crore. The growth came on the back of Solar’s expanding footprint across new overseas markets.

Operating performance remained firm, with EBITDA rising 24.3% to ₹553.2 crore. Margins improved by 60 basis points to 26.6%, compared with 26% in the same quarter last year.

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