Solar Industries (SIL) reported strong Q2FY18 numbers wherein revenues came in at | 408.4 crore, up 21.6% YoY (our estimate: | 365.2 crore). The company witnessed strong revenue growth due to strong volume growth of 18.3% and 26.2% in bulk and cartridge segment, respectively. Bulk & cartridge segment contributed 60-65% to the topline. However, realisations in both segments, bulk and cartridge witnessed a decline of 8% & 2%, respectively (after adjusting for excise duty and other taxes). The overseas segment also...