Solar Industries management has reaffirmed its defence revenue guidance of ₹3000 crores for FY26, with Pinaka deliveries set to begin in the fourth quarter. The company had earlier projected ₹1626 crores for the nine-month period of FY26, representing 54% achievement of the full-year target.

FY26 Revenue Guidance and Achievement

During recent management updates, the company emphasized confidence in maintaining the full-year revenue guidance despite market challenges. The strategic focus on Pinaka deliveries in Q4 represents a key component of their revenue achievement strategy.

Pinaka Delivery Timeline

The management's confirmation that Pinaka deliveries will begin in Q4 indicates the company's strategic positioning in advanced defence systems. This timeline for specialized defence product deliveries demonstrates Solar Industries' capability to execute high-value defence solutions in the final quarter of the fiscal year.

FY27 Growth Outlook

Looking ahead, the company anticipates steady growth in defence revenue for FY27. Management has indicated that detailed expectations for the next fiscal year will be provided at the start of FY27, suggesting a structured approach to future guidance and strategic planning.

Strategic Defence Position

With ₹1626 crores projected for the first nine months and ₹1374 crores needed in Q4 to meet guidance, the reaffirmation reflects Solar Industries' established market position in the defence sector. The company's ability to maintain projections while providing specific delivery timelines demonstrates robust business planning and execution capabilities in the defence segment.

Solar Industries India Limited announced its Q3FY26 consolidated financial results on February 3, 2026, delivering record-breaking performance across key metrics. The company reported its highest-ever quarterly revenue of ₹2548cr, representing a robust 29% year-on-year growth from ₹1973cr in Q3FY25.

Record Financial Performance

The company achieved exceptional financial results with net profit reaching ₹467cr, marking a substantial 38% increase from ₹338cr in the corresponding quarter of the previous year. EBITDA for the quarter stood at ₹733cr, reflecting a strong 37% growth with margins expanding to 28.77% from 27.17% in Q3FY25.

Defence Sector Drives Growth

The defence segment emerged as the standout performer, generating over ₹700cr in revenue during the quarter, representing an impressive 72% year-on-year growth. This segment now contributes 28% of total sales compared to 21% in Q3FY25. Managing Director & CEO Manish Nuwal highlighted the company's record-breaking order book exceeding ₹21000cr, reflecting strong future revenue visibility.

International Business Expansion

The international business segment continued its strong momentum, achieving over ₹1000cr in revenue with 35% year-on-year growth. This segment remains the largest contributor, accounting for 40% of total sales. Nuwal emphasized the growing global demand for commodities and industrial metals driven by urbanization and clean energy technologies.

Nine Months Performance

For the nine months ended December 31, 2025, Solar Industries reported consolidated revenue of ₹6785cr compared to ₹5374cr in the previous year, marking 26% growth. Nine-month net profit reached ₹1181cr against ₹942cr, while EBITDA stood at ₹1879cr with margins maintained at 27.70%.

Strategic Outlook and Expansion

Manish Nuwal expressed confidence in the company's strategic direction, highlighting new facilities in Dhule, Maharashtra and Dholpur, Rajasthan that strengthen Solar's manufacturing footprint. The company continues to focus on innovation, operational discipline, and sustainable growth while maintaining its position as a leading global explosives manufacturer with presence in 90+ countries and manufacturing facilities across 9 countries.