Solar Industries India Limited — Quarter and year ended March 31, 2026
The following tables are extracted from the provided quarterly results document (figures in ₹ crores unless otherwise stated).
| Particulars | Quarter ended 31.03.2026 (Audited) (1) | Quarter ended 31.12.2025 (Unaudited) (2) | Quarter ended 31.03.2025 (Audited) (3) | Year ended 31.03.2026 (Audited) (4) | Year ended 31.03.2025 (Audited) (6) |
|---|---|---|---|---|---|
| 1 Income : | |||||
| a) Revenue from Operations | 3,052.75 | 2,548.32 | 2,166.55 | 9,837.74 | 7,540.26 |
| b) Other Income | 44.47 | 25.07 | 6.55 | 127.98 | 70.83 |
| Total Income | 3,097.22 | 2,573.39 | 2,173.10 | 9,965.72 | 7,611.09 |
| 2 Expenses : | |||||
| a) Cost of Materials consumed | 1,435.22 | 1,116.34 | 939.59 | 4,503.02 | 3,447.06 |
| b) Purchases of Stock-in-Trade | 164.50 | 159.37 | 185.86 | 568.68 | 557.44 |
| c) Changes in inventories of Finished Goods, Work-in-Progress and Stock-in-Trade | (78.18) | (34.39) | 52.49 | (177.98) | (25.51) |
| d) Employee Benefits Expense | 252.59 | 213.90 | 173.58 | 844.98 | 600.07 |
| e) Finance Costs | 41.27 | 34.38 | 28.78 | 133.97 | 116.50 |
| f) Depreciation and Amortisation expense | 71.42 | 62.85 | 50.49 | 250.87 | 181.50 |
| g) Other Expenses | 452.65 | 384.90 | 275.36 | 1,477.23 | 1,000.84 |
| Total Expenses | 2,339.47 | 1,937.35 | 1,706.15 | 7,600.77 | 5,877.90 |
| 3 Profit before Share of Profit / (Loss) of joint ventures and associates (net), Exceptional items and Tax (1 – 2) | 757.75 | 636.04 | 466.95 | 2,364.95 | 1,733.19 |
| 4 Share of Profit / (loss) of joint ventures and associates (net) | 1.28 | (0.13) | (2.58) | 0.27 | 5.55 |
| 5 Profit before Exceptional items and Tax (3 + 4) | 769.03 | 635.91 | 464.37 | 2,365.22 | 1,738.74 |
| 6 Exceptional item | – | – | – | – | – |
| 7 Profit before Tax (5 + 6) | 759.03 | 635.91 | 464.37 | 2,365.22 | 1,738.74 |
| 8 Tax Expenses | |||||
| a) Current Tax | 203.65 | 159.30 | 100.25 | 606.65 | 428.05 |
| b) Adjustment of tax relating to earlier period | 0.11 | 4.71 | (2.51) | 5.08 | (1.29) |
| c) Deferred Tax | (0.76) | 5.36 | 20.52 | 16.85 | 24.05 |
| 9 Net Profit for the period (7 – 8) | 556.03 | 466.54 | 346.11 | 1,736.64 | 1,287.93 |
| 10 Other Comprehensive Income | |||||
| (i) | |||||
| a) Items that will not be reclassified to Profit or Loss | 20.00 | 1.50 | (17.50) | 34.63 | (17.50) |
| b) Income Tax relating to items that will not be reclassified to Profit or Loss | (3.67) | (0.38) | 2.65 | (5.82) | 12.01 |
| (ii) | |||||
| a) Items that will be reclassified to Profit or Loss | 109.04 | 62.76 | (11.40) | 279.40 | (61.11) |
| b) Income Tax relating to items that will be reclassified to Profit or Loss | 0.73 | (2.95) | (1.47) | (7.21) | 1.60 |
| Total Other Comprehensive Income (Net of Tax) | 126.10 | 60.93 | (27.72) | 301.00 | (65.00) |
| 11 Total Comprehensive Income for the period (9 + 10) | 682.13 | 527.47 | 318.39 | 2,037.64 | 1,222.93 |
| 12 Net Profit attributable to | |||||
| a) Owners of the Company | 547.63 | 446.25 | 322.23 | 1,677.55 | 1,209.44 |
| b) Non-controlling interests | 8.40 | 20.29 | 23.88 | 59.09 | 78.49 |
| 13 Other Comprehensive Income attributable to | |||||
| a) Owners of the Company | 93.91 | 46.38 | (24.63) | 226.02 | (55.92) |
| b) Non-controlling interests | 32.19 | 14.55 | (3.09) | 74.98 | (9.08) |
| 14 Total Comprehensive Income attributable to | |||||
| a) Owners of the Company | 641.54 | 492.63 | 297.60 | 1,903.57 | 1,153.52 |
| b) Non-controlling interests | 40.59 | 34.84 | 20.79 | 134.07 | 69.41 |
| 15 Earning per Share (Face value of ₹ 2/-) | |||||
| a) Basic | 60.52 | 49.31 | 35.61 | 185.39 | 133.65 |
| b) Diluted | 60.52 | 49.31 | 35.61 | 185.39 | 133.65 |
| 16 Paid-up Equity Share Capital – Face Value of ₹ 2/- Per Share | 18.10 | 18.10 | 18.10 | 18.10 | 18.10 |
| 17 Other Equity excluding Revaluation Reserves # | 6,259.10 | 4,395.12 | |||
| 18 Net Worth (including Retained Earning) # | 6,277.20 | 5,616.13 | 4,413.22 | 6,277.20 | 4,413.22 |
| 19 Debt Equity Ratio | 0.23 | 0.22 | 0.21 | 0.23 | 0.21 |
| 20 Debt Service Coverage Ratio | 5.37 | 7.32 | 4.25 | 5.45 | 4.28 |
| 21 Interest Service Coverage Ratio | 21.28 | 21.95 | 16.85 | 20.10 | 15.50 |
| 22 Current Ratio | 2.06 | 1.79 | 1.95 | 2.06 | 1.95 |
| 23 Current Liability Ratio | 0.56 | 0.63 | 0.57 | 0.56 | 0.57 |
| 24 Total Debts to Total Assets | 0.13 | 0.13 | 0.11 | 0.13 | 0.11 |
| 25 Trade Receivable Turnover | 1.61 | 1.55 | 1.60 | 5.95 | 6.07 |
| 26 Inventory Turnover | 4.49 | 4.17 | 5.21 | 17.00 | 21.19 |
| 27 Operating Margin (%) | 24.76% | 25.32% | 22.46% | 24.10% | 23.67% |
| 28 Net Profit Margin (%) | 18.21% | 18.31% | 15.98% | 17.65% | 17.08% |
| 29 Long Term Debt to Working Capital | 0.40 | 0.30 | 0.31 | 0.40 | 0.31 |
| 30 Bad Debts to Account Receivable Ratio* | – | 0.00 | 0.00 | 0.00 | 0.01 |
| Particulars | As at 31.03.2026 Audited | As at 31.03.2025 Audited |
|---|---|---|
| I ASSETS | ||
| A. Non-current assets | ||
| (a) Property, Plant and Equipment | 3,715.77 | 2,469.81 |
| (b) Capital Work-in-Progress | 691.84 | 703.38 |
| (c) Goodwill# | 170.52 | 147.32 |
| (d) Other Intangible assets | 58.72 | 69.49 |
| (e) Intangible assets under development | 38.99 | 3.60 |
| (f) Right-of-use assets | 61.22 | 42.15 |
| (g) Financial Assets | ||
| (i) Investments | 145.69 | 110.95 |
| (ii) Loans | 35.37 | 32.55 |
| (iii) Other Financial Assets | 266.20 | 144.19 |
| (h) Investments accounted using equity method | 37.00 | 36.35 |
| (i) Deferred Tax Assets (net) | 185.79 | 155.78 |
| (j) Current Tax Assets (net) | 31.55 | 19.62 |
| (k) Other non-current assets | 442.38 | 236.38 |
| Sub Total Non-Current Assets (A)# | 5,881.04 | 4,171.57 |
| B. Current assets | ||
| (a) Inventories | 1,741.86 | 1,039.98 |
| (b) Financial Assets | ||
| (i) Investments | – | 528.97 |
| (ii) Trade Receivables | 1,857.86 | 1,238.58 |
| (iii) Cash and Cash Equivalents | 469.44 | 590.43 |
| (iv) Bank balances other than cash & cash equivalents | 114.70 | 135.05 |
| (v) Loans | 3.59 | 2.09 |
| (vi) Other Financial Assets | 137.55 | 168.48 |
| (c) Other Current Assets | 712.46 | 418.95 |
| Sub Total Current Assets (B) | 5,037.46 | 4,122.53 |
| Non-current assets classified as held for sale (C) | – | 3.98 |
| Total- Assets (A+B+C)# | 10,918.50 | 8,298.08 |
| Particulars | As at 31.03.2026 Audited | As at 31.03.2025 Audited |
|---|---|---|
| II EQUITY AND LIABILITIES | ||
| A. Equity | ||
| (a) Equity Share Capital | 18.10 | 18.10 |
| (b) Other Equity# | 6,259.10 | 4,395.12 |
| Equity attributable to shareholders# | 6,277.20 | 4,413.22 |
| (c) Non-Controlling Interest# | 271.70 | 160.16 |
| Sub Total Equity (A)# | 6,548.90 | 4,573.38 |
| B. Liabilities | ||
| Non-current Liabilities | ||
| (a) Financial Liabilities | ||
| (i) Borrowings | 820.36 | 393.88 |
| (ii) Lease Liabilities | 38.18 | 23.78 |
| (b) Deferred Tax Liabilities (net) | 271.54 | 218.99 |
| (c) Other non-current liabilities | 787.78 | 968.85 |
| (d) Provisions | 2.85 | 5.32 |
| Sub Total Non-Current Liabilities | 1,920.71 | 1,610.82 |
| Current Liabilities | ||
| (a) Financial Liabilities | ||
| (i) Borrowings | 647.48 | 545.71 |
| (ii) Acceptances | 285.23 | 394.61 |
| (iii) Trade Payables | 631.74 | 492.52 |
| (iv) Lease Liabilities | 18.00 | 11.58 |
| (v) Other Financial Liabilities | 131.41 | 164.76 |
| (b) Current tax liabilities (net) | 21.55 | 53.00 |
| (c) Other Current Liabilities | 673.67 | 427.84 |
| (d) Provisions | 39.81 | 23.86 |
| Sub Total Current Liabilities and Provisions | 2,448.89 | 2,113.88 |
| Sub Total Liabilities (B) | 4,369.60 | 3,724.70 |
| Total Equity and Liabilities (A+B)# | 10,918.50 | 8,298.08 |
| Particulars | Year ended March 31, 2026 Audited | Year ended March 31, 2025 Audited |
|---|---|---|
| Cash flows from operating activities | ||
| Profit before Share of Profit / (Loss) of joint ventures and associates (net), Exceptional items and Tax | 2,364.95 | 1,733.19 |
| Adjustments to reconcile profit before tax to net cash flows: | ||
| Depreciation and amortisation expense | 250.87 | 181.50 |
| Net (gain)/loss on disposal of property, plant and equipment | (1.47) | 1.05 |
| Discard of property, plant and equipment (net) | – | (0.77) |
| Net loss/(gain) on financial assets measured at fair value through profit or loss | 1.08 | (1.23) |
| Loss relating to Company’s subsidiaries operating in hyperinflationary economy | 94.53 | 65.01 |
| Profit on sale of financial assets carried at fair value through profit or loss | (20.36) | (7.95) |
| Dividend and interest income | (29.63) | (25.63) |
| Provision for /(reversal) of Inventory | (0.69) | 0.58 |
| Provision written back | – | (1.25) |
| Impairment (gain)/loss on financial asset | 20.78 | (10.01) |
| Finance costs | 133.97 | 116.50 |
| Bad debts written off | 2.12 | 5.72 |
| Financial liabilities written back | – | (8.00) |
| Impairment of Goodwill | 0.60 | – |
| Sundry balances written off | 5.43 | 1.12 |
| Effect of exchange rate change | 38.41 | 6.41 |
| Operating profit before working capital changes | 2,860.59 | 2,056.24 |
| Working capital adjustments : | ||
| (Increase)/Decrease in trade receivables | (633.73) | (317.13) |
| (Increase)/Decrease in inventories | (701.19) | (188.09) |
| Increase/(Decrease) in trade payables | 21.24 | 299.32 |
| (Increase) /Decrease in other assets | (359.19) | (147.19) |
| Increase /(Decrease) in other liabilities | 95.60 | 1,167.47 |
| Cash generated from operations | 1,283.32 | 2,870.62 |
| Less : Income taxes paid | 662.45 | 403.06 |
| **Net cash flows from |