SOLARINDSSolar Industries India Ltd.
Solar Industries India Q2 FY27 Results: Consolidated Net Profit ₹650 Crore on Total Income of ₹3,534 Crore
- Earnings
- Chemicals - Speciality
Reviewed byKeshav SehgalBlacklitt Research
Solar Industries India (NSE: SOLARINDS) reported consolidated total income of ₹3,534.29 crore and consolidated net profit of ₹650.04 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹1,493.03 crore and standalone net profit ₹320.21 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹3,534.29 crore, up 67.4% YoY and down 3.9% QoQ
- Net profit: ₹650.04 crore, up 79.8% YoY and down 2.5% QoQ
- EPS: ₹68.19 basic, against ₹38.12 a year earlier and ₹72.11 in Q1 FY27
- Finance costs: ₹55.36 crore, up 79.2% YoY and 34.2% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,493.03 crore, up 26.3% YoY and down 20.8% QoQ
- Net profit: ₹320.21 crore, up 36.3% YoY and down 10.7% QoQ
- EPS: ₹35.39 basic, against ₹25.96 a year earlier and ₹39.60 in Q1 FY27
- Other income: ₹47.40 crore, down 16.2% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,534.29 | 2,111.40 | +67.4% | 3,676.72 | -3.9% | |
| Revenue from operations | 3,518.92 | 2,082.22 | +69.0% | 3,668.20 | -4.1% |
| Other income | 15.37 | 29.18 | -47.3% | 8.52 | +80.4% |
| 650.04 | 361.48 | +79.8% | 666.37 | -2.5% | |
| Profit before tax | 877.49 | 489.52 | +79.3% | 911.46 | -3.7% |
| Finance costs | 55.36 | 30.89 | +79.2% | 41.26 | +34.2% |
| Depreciation | 87.95 | 60.62 | +45.1% | 79.74 | +10.3% |
| Tax expense | 227.45 | 128.07 | +77.6% | 245.09 | -7.2% |
| Net profit margin | 18.39% | 17.12% | +1.27 pp | 18.12% | +0.27 pp |
| EPS, basic (₹) | 68.19 | 38.12 | +78.9% | 72.11 | -5.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than income this year. Net profit rose 79.8% to ₹650.04 crore while total income rose 67.4%, and profit before tax rose 79.3%.
Other income is a small share of the quarter: ₹15.37 crore is 0.4% of total income and 1.8% of profit before tax of ₹877.49 crore. Tax of ₹227.45 crore is 25.9% of profit before tax.
Finance costs rose 79.2% to ₹55.36 crore, which is 1.6% of total income. Depreciation rose 45.1% to ₹87.95 crore. The notes apply Ind AS 29 to the Turkish step-down subsidiaries, with a net restatement impact of ₹18.37 crore for the quarter debited to other expenses. Against the previous quarter, consolidated net profit fell 2.5% while total income fell 3.9%.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,493.03 | 1,181.80 | +26.3% | 1,886.15 | -20.8% | |
| Revenue from operations | 1,445.63 | 1,125.22 | +28.5% | 1,856.32 | -22.1% |
| Other income | 47.40 | 56.58 | -16.2% | 29.83 | +58.9% |
| 320.21 | 234.95 | +36.3% | 358.38 | -10.7% | |
| Profit before tax | 429.26 | 315.48 | +36.1% | 482.04 | -10.9% |
| Finance costs | 8.94 | 6.28 | +42.4% | 6.88 | +29.9% |
| Depreciation | 29.09 | 24.73 | +17.6% | 28.05 | +3.7% |
| Tax expense | 109.05 | 80.55 | +35.4% | 123.66 | -11.8% |
| Net profit margin | 21.45% | 19.88% | +1.57 pp | 19.00% | +2.45 pp |
| EPS, basic (₹) | 35.39 | 25.96 | +36.3% | 39.60 | -10.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 36.3% to ₹320.21 crore, faster than total income, which rose 26.3% to ₹1,493.03 crore. Profit before tax rose 36.1%. Other income of ₹47.40 crore fell 16.2% from a year earlier but is 3.2% of total income, a larger share than in the consolidated figures.
Tax of ₹109.05 crore is 25.4% of profit before tax of ₹429.26 crore. Finance costs of ₹8.94 crore are 0.6% of total income, up 42.4% from ₹6.28 crore.
Compared with the previous quarter, standalone total income fell 20.8% and net profit fell 10.7%.
Inference
The notes record a proposed acquisition of Omnia Holdings Limited, South Africa, by two subsidiaries for an aggregate cash consideration of approximately USD 1.35 billion, subject to regulatory approvals and customary conditions. The filing does not state the expected timing of completion or how the consideration will be funded.
The Board approved Price Waterhouse Chartered Accountants LLP as joint statutory auditor in place of SRBC & Co. LLP, and re-appointed Gandhi Rathi & Co. for a five-year term from the 32nd AGM in 2027, subject to shareholders' approval. The filing gives the Audit Committee's recommendation as the only stated reason for the change.
The cash flow statement shows a dividend payment of ₹99.52 crore in the half year. The filing does not state the reason for the rise in consolidated finance costs or the fall in consolidated net profit against the previous quarter.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.