Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015-Credit Rating

CRISIL Ratings placed Solar Industries India Limited's long-term bank loan facilities and non-convertible debentures on 'Watch Developing' following the announced acquisition of Omnia Holdings Limited, valued at ~$1.355 billion. The acquisition, expected to complete by Q1 FY28, will increase debt but maintain a comfortable financial risk profile with net debt to EBITDA below 2x post-acquisition. Solar's consolidated revenue rose to Rs 9,837 crore in FY26, with a strong order book of Rs 21,350 crore as of June 30, 2026. EBITDA margin improved to 27.7% in Q1 FY27, expected to stay at 26-27% medium term. The rating watch will resolve upon transaction completion and clarity on approvals and integration.