Medium Risk

Solar Industries India Limited

Manufacturing of Industrial Explosives

CIN: L74999MH1995PLC085878 FY: - Revenue: ₹4,456.6 Cr
5.3
ESG Risk
Score /10
Compliance RiskEpr ExposureGhg Intensity

Risk Breakdown

GHG Intensity
5.0
Water Intensity
5.0
Waste Intensity
1.1
EPR Exposure
6.5
Compliance Risk
10.0
HR Risk
3.0
Governance Risk
3.0

Financial Exposure

Est. Compliance Cost₹7–27 crore
EPR ApplicableUnknown
Scope 1 Emissions— tCO2e
Scope 2 Emissions— tCO2e
Water Withdrawal— m³
Waste Generated7,428.8 T

Governance

Anti-Corruption PolicyYes
Conflict of Interest PolicyYes
BRSR AssurancePartial
Assurance ProviderMoore Singhi Advisors LLP

Double Materiality

Financial Materiality5.3
Impact Materiality4.6
QuadrantFinancially Material

Supply Chain

MSME Sourcing0.2%
Lifecycle AssessmentNo
Product ReclaimYes

Material Risks

e-waste

ESG Targets & Commitments

TopicTarget / MetricStatus
Human Rights in Supply Chain HR clauses in all contracts Commitment

AI Risk Summary

# Solar Industries India Limited – Financial Risk Summary Solar Industries faces critical compliance exposure under SEBI BRSR Core Expansion with a maximum 10.0/10 compliance risk score; non-disclosure or misstatement of environmental data could trigger enforcement action or delisting risk, particularly given the company's large market capitalization. The company's estimated compliance remediation cost of ₹7–27 crore represents 0.16–0.61% of revenue, driven primarily by EPR (Extended Producer Responsibility) obligation uncertainty and mandatory P6 environmental reporting gaps. With Scope 1 and 2 emissions unreported despite operating energy-intensive explosives manufacturing, Solar Industries risks carbon pricing exposure under India's Carbon Credit Trading System (₹600–900/tonne CO2e) once baseline emissions are established and regulated. Immediate priority: complete Scope 1/2 quantification, clarify EPR applicability status, and ensure full BRSR disclosure compliance to mitigate regulatory penalties and valuation discount.

Source: Solar Industries India Limited BRSR Filing, FY -. Derived from the company's own public disclosures. Not investment advice or a regulatory determination.

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