Transcription of Conference Call with reference to the audited financial results for the quarter and year ended on March 31, 2026, with the management of the Company.
SOLARINDS · price
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Solar Industries delivered record performance in FY26 with revenue of INR 9,838 crores and EBITDA of INR 2,750 crores, both growing 35% YoY. Q4 was particularly strong with revenue of INR 3,053 crores and PAT of INR 556 crores (61% growth). Defense business nearly doubled to INR 2,634 crores for the year with Q4 defence revenue crossing INR 1,000 crores for the first time. The company reported an order book of INR 21,300 crores (INR 18,000 crores defence, INR 3,000 crores non-defence). Management guided for INR 14,000 crores revenue in FY27 while maintaining current EBITDA margins of around 28%, with 30% overall growth expected across domestic and international businesses. Planned capex for FY27 is INR 2,050 crores. The company expanded geographically into Zimbabwe, Ghana, Sierra Leone and Kazakhstan during the year, and is targeting defence revenue of INR 4,500 crores in FY27.
Strong execution in defence and international segments drove exceptional margin expansion to 28.5% in Q4. The robust INR 21,300 crore order book and FY27 guidance of INR 14,000 crores revenue (30% growth) signals continued momentum. The company proposed a higher dividend of INR 11 per share, reflecting confidence in cash generation despite elevated working capital (90-100 days) held due to geopolitical uncertainties.