03-Nov-2026 14:43:46
SOLAR INDUSTRIES Q2 : ₹20,178 CR ORDER BOOK; EXPECTS TO SURPASS FY27 GUIDANCE, ₹17,568 CR DEFENCE ORDERS & ₹873 CR CAPEX
• FY27 Guidance: Management expects to surpass its existing annual guidance, supported by strong order book visibility and opportunities across domestic explosives, international explosives and defence • Massive Order Book: Total outstanding order book stands at ₹20,178 Cr, providing strong future revenue visibility • Defence Order Book: Defence orders stand at ₹17,568 Cr, accounting for approximately 87% of the total order book • Mining Explosives Orders: Coal India and SCCL order book stands at ₹2,610 Cr, supporting future domestic explosives sales • Defence Expansion: Management expects significant opportunities from Indian and international defence markets, including potential guided Pinaka rocket orders in the near future • International Expansion: Focused on scaling overseas explosives operations through acquisitions, greenfield projects and deeper penetration of global mining markets • Capex Investment: Capital expenditure reached ₹873 Cr during H1 FY27, compared with ₹1,556 Cr spent during the full FY26 • Working Capital Improvement: Working capital cycle improved to 108 days from 130 days in FY26, reflecting better operating efficiency • Debt Position: Net debt increased to ₹1,177 Cr from ₹867 Cr in FY26, while net debt-to-EBITDA ratio improved to 0.29x from 0.32x • Future Growth Plans: Focused on manufacturing expansion, defence indigenisation, advanced ammunition technologies, international markets and operational efficiency
SOLAR INDUSTRIES (I) LTD