Solar Industries India Limited — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

Volume growth guidance for domestic explosives 10-15% annually; industry ~7%
FY27 revenue guidance of INR14,000 Cr likely to be surpassed; EBITDA margin expected >29%
Q2 FY27 consolidated revenue INR3,519 Cr +69% y-y; H1 revenue INR7,187 Cr +70% y-y
Defense revenue INR1,002 Cr in Q2, INR1,935 Cr H1; large orders including Pinaka family (~INR9,000 Cr) expected soon
International defense orders and missile programs expected to materialize over next 2 years
Domestic explosives growth driven by mining/infrastructure demand; international business expanding via acquisitions and greenfield
Order book stands at INR20,178 Cr with INR17,568 Cr from defense segment
Q2 EBITDA INR1,021 Cr (29.02% margin); H1 EBITDA INR2,045 Cr; Q2 PAT INR650 Cr