• Margin sustainability: EBITDA margins reached around 28% this year and are projected to sustain at around 27% going forward, supported by strong performance in the international and defense segments.
• FY27 revenue guidance: Solar Industries has set a revenue target of ₹14,000 crore for FY27, with international business expected to cross ₹5,000 crore and defense to surpass ₹4,500 crore.
• Capex allocation: The company plans to deploy ₹2,050 crore in Capex for FY27, with the majority of the spending directed toward expanding defense capabilities and R&D.
• Defense product pipeline: Strong order inflows are anticipated from strategic programs, including Pinaka guided rockets, multiple loitering ammunition varieties, medium- and large-caliber ammunition, and the Bhargavas development program.
• Raw material insulation: Potential commodity price pressures are mitigated through customer escalation contracts that adjust on a monthly or 15-day basis, allowing rapid pass-through of cost increases.