Solar Industries Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹1,69,225 Cr
- Book Value
- ₹693.6
- Stock P/E
- 97.0
- Dividend Yield
- 0.06%
- ROE
- 32.6%
- ROCE
- 38.1%
- PEG Ratio
- 2.17
- EV/EBITDA
- 59.8
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Technical snapshot
EOD ·Solar Industries India Ltd closed at ₹19,721.00 on 19 August 2026, down 2.8% on the day, 7.1% above its 50-day average, 3.4% below its 52-week high, with volume at 1.42× its 20-session average.
- RSI 14
- 60.2
- vs 50-day SMA
- +7.1%
- vs 200-day SMA
- +29.3%
- From 52-week high
- -3.4%
- Relative volume
- 1.42×
- 20-day return
- +4.6%
End-of-day prices from exchange-published files (NSE/BSE bhavcopy), updated after market close. Descriptive statistics, not investment advice.
Solar Industries share price today
Solar Industries (NSE: SOLARINDS) built a strong position in industrial explosives for mining and infrastructure and has expanded into ammunition, warheads, propellants and loitering munitions. Profit compounded at 44.6% a year for five years, with ROCE at 38%.
At 97× earnings, the valuation already assumed substantial execution from the defence expansion.
From mining blasts to munitions
Manufacturing licences for explosives are scarce, safety records take decades to establish and distribution to thousands of mines is difficult to replicate. Those factors create meaningful entry barriers. The defence opportunity includes multi-year ammunition contracts, the Pinaka rocket programme and drone-delivered munitions, where Solar was an early listed private-sector entrant.
What matters next: defence order inflows converting to revenue on schedule, the 2.3% promoter pledge (small but non-zero), and raw-material cycles (ammonium nitrate) in the base business.
The numbers
Financial snapshot — 5 August 2026
| Metric | Value |
|---|---|
| Market cap | ₹1,69,225 Cr |
| P/E (TTM) | 97.0 |
| EV/EBITDA | 59.8 |
| Operating margin | 27.6% |
| ROE / ROCE | 32.6% / 38.1% |
| Debt to equity | 0.24 |
| Sales CAGR (5y) | 31.4% |
| Profit CAGR (5y) | 44.6% |
| Promoter holding | 73.2% (2.3% pledged) |
| EPS (TTM) | ₹192.8 |
Solar Industries share price target 2026 to 2030
EPS base ₹192.8 (TTM). Bear: defence orders slip and the multiple halves to 50× on 18% growth — note this “bear” still assumes strong growth; that is how demanding the price is. Base: 28% growth, multiple settles at 65×. Bull: ammunition and drones scale into exports — 35% growth holding 85×.
From ₹18,700, the base case is ≈ +130% over four and a half years — but 18% annual profit growth delivers only roughly +18% total in the bear case because multiple compression gives back five years of growth. That asymmetry is the whole story at 97×: the business can execute well while the share return remains modest.
What supports the case
- Licence-and-safety moat in base explosives — quasi-oligopoly economics fund the defence pivot.
- 44.6% five-year profit CAGR — among the fastest compounders of its size in India.
- Defence backlog spans ammunition, Pinaka rockets and drone munitions — early-mover position.
- 38% ROCE with modest leverage (D/E 0.24).
- Export optionality: global ammunition restocking is a decade-long cycle.
At 97×, the valuation leaves little tolerance for execution delays; defence revenue is contract-lumpy, and the small promoter pledge deserves monitoring.
What to weigh at the current price
The tension is whether defence orders, exports and munitions scale fast enough to grow into 97× earnings before contract timing or a normalisation in enthusiasm compresses the multiple.
FAQ
What is the Solar Industries share price target for 2030? The table above sets out bear, base and bull scenarios for each year to 2030. They are valuation sensitivities, not promised prices.
Why is Solar Industries valued at 97× earnings? The 97× multiple reflects expectations that defence revenue will grow on top of the established explosives business. Delays or slower scaling could compress the multiple even if earnings continue to grow.
What does Solar Industries make for defence? It makes ammunition across calibres, warheads and propellants, Pinaka rocket motors and loitering munitions.
When are Solar Industries’ next results? Check the results calendar and confirm the announced date in the relevant exchange filing.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.