Solar Industries India Limited (SOLARINDS.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-89.3%

₹2,130.81

vs ₹20,000.00 price

Levered DCF

₹8,390.62

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	65.14×	83.29×	94.46×	45.32×	57.34×	42×	30.94×	36.79×
P/B	17.41×	22.97×	23.89×	13.15×	13.22×	7.35×	5.99×	7.77×
P/S	11.11×	13.36×	13.01×	4.96×	6.41×	4.61×	3.7×	3.91×
EV / EBITDA	40.12×	52.04×	50.98×	25.29×	32.72×	22.2×	19.69×	19.76×
Gross margin	39.1%	47.4%	46.6%	36.7%	40.3%	45.5%	44.7%	42.2%
Operating margin	24.1%	38.2%	38.1%	29.7%	31.3%	34.4%	33.1%	32.8%
Net margin	17.1%	16.0%	13.8%	10.9%	11.2%	11.0%	12.0%	10.6%
Current ratio	2.06×	1.95×	1.76×	1.53×	1.49×	1.5×	1.34×	1.33×
Debt / equity	0.24×	0.22×	0.34×	0.46×	0.46×	0.51×	0.52×	0.49×
Interest coverage	17.7×	24.73×	21.12×	22.75×	24.62×	19.05×	14.16×	16.64×
Dividend yield	0.1%	0.1%	0.1%	0.2%	0.2%	0.5%	0.9%	0.6%
Payout ratio	5.4%	6.4%	8.7%	9.0%	12.3%	19.6%	28.6%	20.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	26.7%	27.6%	25.3%	29.0%	23.1%	17.5%	19.4%	21.1%
Return on invested capital	19.1%	31.8%	36.5%	36.9%	30.5%	24.4%	27.2%	27.7%
Return on assets	15.4%	14.6%	14.6%	15.0%	11.8%	9.1%	10.6%	11.5%
Free cash flow yield	-1.1%	1.5%	0.9%	0.5%	0.0%	0.8%	1.0%	0.1%
Earnings yield	1.5%	1.2%	1.1%	2.2%	1.7%	2.4%	3.2%	2.7%
Enterprise value	₹1.1T	₹1T	₹798.4B	₹352.7B	₹261.1B	₹122.4B	₹89B	₹101.7B
Net debt / EBITDA	0.38×	0.2×	0.56×	0.68×	1.01×	1.16×	1.39×	1.05×
Cash conversion cycle (days)	119	126	129	104	108	116	118	94