Solar Industries India532725Quarterly results

Q2 FY27: Revenue up 69% to ₹3519 crore, PAT ₹650 crore; expects to surpass FY27 guidance

Q2 FY27 consolidated revenue ₹3519 crore (+69% YoY), EBITDA ₹1021 crore (29.02% margin), PAT ₹650 crore (+80%).

By ScoutQuest · Tue 3 Nov 2026, 2:29 PM IST · 1 min read

₹7187 crore

Q2 FY27₹3519 croreH1 FY27₹7187 crore

Net revenue: ₹3519 crore (Q2 FY27) and ₹7187 crore (H1 FY27).

Q2 FY27 Revenue: ₹3519 crore (+69% YoY)
Q2 FY27 PAT: ₹650 crore (+80% YoY)
Q2 FY27 EBITDA: ₹1021 crore (29.02% margin)
Order Book: ₹20178 crore
H1 FY27 Revenue: ₹7187 crore (+70% YoY)

Quarter at a glance

Net revenue: ₹3519 crore vs 2082 a year ago, up 69%
EBITDA: ₹1021 crore vs 582, up 75%
EBITDA margin: 29.02% vs 27.95%, up 107bps
PBT: ₹877 crore vs 490, up 79%
PAT: ₹650 crore vs 361, up 80%

Half year (H1 FY27)

Net revenue: ₹7187 crore vs 4237, up 70%
EBITDA: ₹2045 crore vs 1,146, up 78%; margin 28.45% vs 27.05%
PBT: ₹1789 crore, up 84%
PAT: ₹1316 crore vs 714, up 84%

Order book

The company reported an order book of ₹20178 crore, which it says gives visibility for future execution.

Business commentary

Domestic Explosives: healthy performance, backed by mining and infrastructure demand and a larger manufacturing footprint.
International Explosives: momentum maintained; the company aims to expand through acquisitions and greenfield projects.
Defence: growth from order book execution; management says it is likely to get large orders from Indian and international defence sectors, including guided Pinaka rockets, in the near future.

Outlook

MD and CEO Manish Nuwal said that, based on H1 results and order book strength, the company expects to surpass its stated annual guidance for FY2026-27.

What it means

Revenue and profit grew strongly with higher margins. The expected defence orders are management's expectation, not orders received.

Also from Solar Industries India