Solar Industries India Ltd

Key operational and financial highlights

• Net revenue for Q1FY27 was ₹3,668 crore, up 70% year-on-year.
• EBITDA was ₹1,024 crore, up 82% year-on-year.
• PBT was ₹911 crore, up 89% year-on-year.
• PAT was ₹666 crore, up 89% year-on-year.
• Defence business grew 123% year-on-year; defence order book over ₹18,000 crore.
• International explosives grew 65% year-on-year; domestic explosives grew 52% year-on-year.
• Total order book stands at ₹21,350 crore.
• Revenue guidance for FY2026-27 is ₹14,000 crore.
• Capex plan is ₹2,050 crore; ₹450 crore deployed in Q1 FY27.
• Dhule plant commissioned; expansions at Dholpur and North India; Orissa facility upcoming.

Financial Performance

• Q1FY27: NetSales Rs 3,668 Cr; EBITDA Rs 1,024 Cr; PAT Rs 666 Cr.
• YoY: NetSales +70%, EBITDA +82%, PAT +89%.
• Material consumed Rs 1,857 Cr; 50.63% of NetSales.
• Order Book: Rs 21,350 Cr.

Governance & Ownership

• Promoter Holding 73.15% as on 30 Jun 2026.

Board approvals

• Board approved unaudited standalone and consolidated results for Q1 FY27; Limited Review Report enclosed.
• Board meeting on Aug 13, 2026 held 1:30 PM to 2:00 PM.

Debt actions & liquidity

• Redeemed 292 unsecured NCDs of Rs 1 lakh face value totaling Rs 2.92 crores.
• Outstanding NCDs at quarter-end amount to Rs 8.75 crores.
• Issued Commercial Paper of Rs 75 crores, maturing Sept 17, 2026.

Ind AS 29 hyperinflation restatement

• Ind AS 29 restatement for Turkey subsidiaries debited 25.33 crores to other expenses.
• Opening retained earnings adjusted by 12.43 crores as of Apr 1, 2026.
• Applied Ind AS 29 to Turkey step-down subsidiaries.

Segment disclosures

• Explosives, its accessories and related services identified as sole reportable segment.
• Group results available on the company website.

AGM Details

• AGM held via VC/OAVM in August 2026 at 11:30 a.m.
• Record date for e-voting and attendance: early August 2026.

Key Resolutions & Outcomes

• Adoption of standalone and consolidated financial statements for the year (ordinary).
• Final dividend declared (ordinary).
• Appointment by rotation: Shri Milind Deshmukh retires by rotation.
• Re-appointment of Shri Milind Deshmukh as Whole-time Director with remuneration revision.
• Independent Director appointment: Reena Jha Tripathi; special resolution failed; deemed appointed under 2A.
• Alteration of Articles of Association: special resolution failed.
• Ratification of Cost Auditor remuneration for FY 2027 (ordinary).

Dividend

• Final dividend of eleven rupees per share approved.

Directors / Management Changes

• Milind Deshmukh re-appointed as Whole-time Director with revised remuneration.
• Milind Deshmukh retires by rotation.
• Reena Jha Tripathi deemed Independent Director appointment.

Auditors & Remuneration

• Cost Auditor remuneration for FY 2027 ratified.

Other Material Approvals

• Alteration of Articles of Association not approved.

AGM Details

• Date and time: Aug 11, 2026, 11:30 a.m.
• Mode: VC/OAVM; deemed venue Nagpur
• Record date for e-voting: Aug 4, 2026
• Remote e-voting window: Aug 8–10, 2026
• Meeting concluded: 12:40 p.m.

Key Resolutions

• Adoption of Audited Financial Statements (Standalone & Consolidated) for year ended Mar 31, 2026.
• Declaration of final dividend of Rs 11 per share.
• Appointment of Milind Deshmukh as Director (retiring by rotation).
• Re-appointment of Milind Deshmukh as Whole-time Director; remuneration revised.
• Appointment of Reena Jha Tripathi as Independent Director.
• Alteration of Articles of Association (AOA).
• Ratification of Cost Auditor’s remuneration for year ending Mar 31, 2026.

Dividend

• Final dividend of Rs 11 per equity share declared.

Voting and Results

• E-voting results to be disseminated to stock exchanges within 2 business days.

Directors & Governance

• Milind Deshmukh reappointed as Whole-time Director; remuneration revised.
• Reena Jha Tripathi appointed Independent Director.

Auditors

• Cost Auditor remuneration ratified for year ending Mar 31, 2026.

agm details

• Date: August 11, 2026; time: 11:30 a.m.; held via VC/OAVM.
• Deemed venue: Solar House, Nagpur.
• Record date for e-voting: August 4, 2026.
• Shareholders on record as of August 4, 2026: 1,18,272.
• Meeting concluded at 12:40 p.m.

resolutions to vote

• Adoption of Audited Financial Statements (standalone & consolidated) for FY2025-26.
• Declaration of final dividend of Rs 11 per equity share.
• Milind Deshmukh to retire by rotation as Director.
• Re-appointment of Milind Deshmukh as Whole-time Director with remuneration revision.
• Appointment of Reena Jha Tripathi as Independent Director.
• Alteration of Articles of Association.
• Ratification of Cost Auditor’s remuneration for FY2025-26.

voting results

• EVoting results to be disseminated to exchanges within 2 working days.

dividend

• Final dividend of Rs 11 per equity share approved (as per ordinary resolution).

director changes

• Milind Deshmukh reappointed as Director (retiring by rotation).
• Milind Deshmukh re-appointed as Whole-time Director; remuneration revised.
• Reena Jha Tripathi appointed as Independent Director.

auditors

• Ratification of Cost Auditor’s remuneration for FY ending 31 March 2026.