SISolar Industries India532725Explosives, defense manufacturing

Solar Industries posted strong Q2 results beating estimates on revenue, margins and profit, with defense segment share rising

By ScoutQuest · Tue 3 Nov 2026, 3:23 PM IST · 1 min read

Defense segment share

29 percent

Domestic explosive share

27 percent

International explosive share

43 percent

Explosives growth YoY

60 percent

EBITDA margin

28.6 percent

Heard on business television between 15:23:54 - 15:26:54 IST.

• Revenue mix shifted with defense segment rising from 24% to 29%, domestic explosives down from 29% to 27%, international explosives down from 46% to 43%
• Explosives segment, about 70% of mix, grew 60% year-on-year
• EBITDA margins jumped nearly 200 basis points to 28.6%, above the 27% estimate, aided by higher defense and overseas revenue contribution
• PAT grew 80% versus a poll estimate of 543 crore, actual coming in at 650 crore
• Order book stood at 2,178 crore, down sequentially but up year-on-year, with nearly 80% led by defense
• H1 revenue at 7,187 crore versus full-year guidance of 14,000-plus crore; company indicated it will surpass guidance
• Defense revenue in H1 stood at 1,000 crore versus FY27 guidance of 4,500 crore-plus

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