Solar Industries India Q2 profit rises 80% to ₹650 crore

Solar Industries India Limited reported profit after tax of ₹650 crore for Q2 FY27, up 80% year-on-year, as consolidated revenue rose 69% to ₹3,519 crore. The result reflects contributions from domestic operations, international business and defence, while EBITDA margin improved to 29.02%.

How did Solar Industries India perform in Q2 FY27?

Solar Industries India delivered strong growth in the quarter ended September 30, 2026, with consolidated revenue of ₹3,519 crore, compared with ₹2,082 crore a year earlier. Management said revenue growth was supported by domestic markets, overseas business and defence operations. The company reported the results during its earnings conference call held on November 4, 2026.

EBITDA rose to ₹1,021 crore in Q2 FY27, with the EBITDA margin at 29.02%. Profit after tax stood at ₹650 crore, representing an 80% year-on-year increase based on the company’s investor presentation. The quarterly numbers indicate that profit growth exceeded revenue growth, alongside a margin expansion from 28% in the corresponding prior-year period.

What drove Solar Industries India's quarterly growth?

Solar Industries India attributed its performance to broad-based contributions from domestic markets, international operations and defence. Managing Director and Chief Executive Officer Manish Nuwal said the company’s results reflected its business model, execution and strategic investments. The available call disclosures did not provide a segment-wise revenue or profit breakdown.

Defence execution and international expansion were highlighted as key contributors to the quarterly outcome. This matters because the company’s growth was not described as coming from a single business line. The combination of these operations helped the company report 69% revenue growth and maintain EBITDA margin above 29% for the quarter.

The company also reported first-half growth at a similarly high rate. Consolidated revenue for H1 FY27 was ₹7,187 crore, up 70% from ₹4,237 crore in H1 FY26. EBITDA for the six months was ₹2,045 crore and profit after tax was ₹1,316 crore, up 84% year-on-year.

What does the first-half performance and order book indicate?

Solar Industries India entered the second half of FY27 after reporting ₹7,187 crore of first-half revenue and ₹1,316 crore of first-half profit after tax. The company also disclosed an order book of ₹20,178 crore, providing visibility on work yet to be executed, although the call material did not specify the timing or business-wise composition of these orders.

The H1 result places first-half revenue above half of the company’s original FY27 revenue target of about ₹14,000 crore. Management said it expected to surpass that original annual target. This is guidance from management rather than a reported financial outcome, and the final performance will depend on execution during the remaining two quarters.

How could the Omnia Holdings acquisition shape Solar Industries India's plans?

Solar Industries India announced the acquisition of Omnia Holdings in South Africa as part of its plan to create an integrated global explosives platform. The company did not disclose transaction value, closing conditions, funding terms or the expected financial contribution of Omnia Holdings in the supplied earnings-call material.

Management has set a consolidated FY28 revenue objective of more than ₹30,000 crore and EBITDA of about ₹7,000 crore. The target is materially above the original FY27 revenue guidance of about ₹14,000 crore, making international expansion and execution of the stated acquisition strategy relevant to the company’s medium-term plan.

For investors, the reported quarter establishes the financial base from which management is presenting this outlook. Revenue growth, margin performance and the ₹20,178 crore order book are current disclosed metrics, while the FY28 revenue and EBITDA figures remain management projections. The pace of order execution, the progress of overseas operations and details of the Omnia transaction will be important disclosures to monitor.

Conclusion

Solar Industries India reported a strong Q2 FY27, with revenue rising 69% to ₹3,519 crore and profit after tax increasing 80% to ₹650 crore. Domestic, international and defence contributions supported the result, while EBITDA margin reached 29.02% and first-half profit after tax rose 84% to ₹1,316 crore.

The next key point is execution in the second half of FY27, as management expects to exceed its original revenue target of about ₹14,000 crore. Investors will also watch for further disclosures on the Omnia Holdings acquisition and progress toward the company’s stated FY28 objectives of more than ₹30,000 crore in revenue and about ₹7,000 crore in EBITDA.