Solar Industries India Ltd
About
Solar Industries India was created to develop explosive devices and ammunition for the Indian market. Today, its products are applied in diverse industries such as mining, defence, construction, seismic exploration, tunnelling, hydro projects, and more. The company is divided into two verticals—industrial and thermal. Some of its industrial products include SuperPower 90, Solargel, and EcoPower. Under the thermal line, Solar Industries produces drones/unmanned aerial systems (UAS), ammunition, military explosives, bombs and warheads, rockets and missiles, among others. The company is credited with the first successful dispatch of the BrahMos booster and a successful completion of technology absorption of chaffs and flares. Solar Industries India has 27 manufacturing plants in India spread over Maharashtra, Rajasthan, Tamil Nadu, Jharkhand, and West Bengal. Additionally, it has 9 international plants in countries like Nigeria, Turkey, Thailand, and Australia, and its products can be found in more than 80 countries all over the world.
Featured In Fortune India Ranking
Financial Data 2024
Fortune India Coverage
Financial Data
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 6031 -13.7% | 6991 74.5% | 4007 55.6% | 2575 11.0% | 2320 -5.9% | 2466 25.5% | 1966 22.1% | 1610 10.6% | 1457 4.5% | 1394 20.4% | 1157 1.2% | 1143 13.6% | 1007 41.5% | 711 22.2% | 582 14.3% | 509 - |
| Net Operating Income (INR Cr) | 6070 -12.32% | 6923 75.36% | 3948 56.92% | 2516 12.44% | 2237 -9.11% | 2462 28.47% | 1916 21.27% | 1580 9.07% | 1449 7.15% | 1352 19.32% | 1133 0.99% | 1122 15.94% | 968 42.40% | 679 21.89% | 557 14.11% | 488 73.62% |
| Profit (INR Cr) | 836 10.4% | 757 71.6% | 441 59.7% | 276 3.3% | 267 2.2% | 262 18.6% | 221 18.2% | 187 14.0% | 164 11.0% | 147 24.5% | 118 1.9% | 116 14.9% | 101 33.9% | 76 29.0% | 59 32.8% | 44 - |
| Assets (INR Cr) | 4569 15.7% | 3948 36.0% | 2904 18.5% | 2452 14.0% | 2151 13.8% | 1890 14.6% | 1650 12.2% | 1470 17.5% | 1251 4.7% | 1195 0.9% | 1185 20.1% | 987 33.3% | 740 45.1% | 510 36.8% | 373 27.5% | 293 - |
| Net Worth (INR Cr) | 3306 26.6% | 2610 36.4% | 1914 21.2% | 1579 14.4% | 1380 11.5% | 1238 14.3% | 1084 16.7% | 929 15.3% | 805 3.8% | 776 17.3% | 662 15.5% | 573 41.6% | 405 28.0% | 316 19.2% | 265 20.1% | 221 18.8% |
| Employee Cost (INR Cr) | 400 21.1% | 331 23.6% | 267 20.5% | 222 13.3% | 196 12.6% | 174 30.4% | 133 28.0% | 104 19.0% | 88 9.8% | 80 18.6% | 67 21.1% | 56 25.7% | 44 41.3% | 31 43.5% | 22 36.8% | 16 - |
| Interest Cost (INR Cr) | 109 | 90 | 50 | 45 | 55 | 50 | 33 | 27 | 20 | 18 | 20 | 18 | 24 | 13 | 13 | 23 |
| Cash & Bank Balance (INR Cr) | 287 | 260 | 99 | 181 | 120 | 92 | 69 | 39 | 37 | 37 | 133 | 92 | 63 | 60 | 94 | 73 |
| Total Debt (INR Cr) | 1138 | 1195 | 888 | 808 | 708 | 603 | 518 | 501 | 398 | 371 | 484 | 372 | 296 | 162 | 108 | 72 |
Key Financial Ratios
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | 13.9% | 10.8% | 11.0% | 10.7% | 11.5% | 10.6% | 11.2% | 11.6% | 11.2% | 10.6% | 10.2% | 10.2% | 10.1% | 10.6% | 10.1% | 8.7% |
| Profit As % Of Assets | 18.3% | 19.2% | 15.2% | 11.3% | 12.4% | 13.8% | 13.4% | 12.7% | 13.1% | 12.3% | 10.0% | 11.8% | 13.7% | 14.8% | 15.7% | 15.1% |
| Profit As % Of Networth | 25.3% | 29.0% | 23.1% | 17.5% | 19.4% | 21.1% | 20.4% | 20.1% | 20.3% | 19.0% | 17.9% | 20.3% | 25.0% | 23.9% | 22.1% | 20.0% |
| Interest Cost to EBITDA % | 8.0% | 7.0% | 6.7% | 8.8% | 12.7% | 10.1% | 8.0% | 8.3% | 6.7% | 7.3% | 10.3% | 10.6% | 14.2% | 10.5% | 15.5% | 33.7% |
| Debt to Equity Ratio | 0.34 | 0.46 | 0.46 | 0.51 | 0.51 | 0.49 | 0.48 | 0.54 | 0.49 | 0.48 | 0.73 | 0.65 | 0.73 | 0.51 | 0.41 | 0.32 |
| RONW | 29.6% | 35.9% | 26.1% | 19.5% | 21.3% | 23.8% | 23.2% | 22.5% | 22.5% | 21.8% | 21.0% | 24.9% | 28.4% | 27.3% | 24.1% | 21.7% |
| ROCE | 30.8% | 36.1% | 25.3% | 19.7% | 19.8% | 26.2% | 24.6% | 22.7% | 24.2% | 19.2% | 17.6% | 20.2% | 28.4% | 32.0% | 31.6% | 30.6% |