Solar Industries India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SOLARINDS, BSE:532725 Solar Industries India Ltd.

Solar Industries India Ltd.

05 Feb 2021

11911.00

1.18%

EARNINGS UPDATE-SOLAR INDUSTRIES 3QFY21

Buy: Solar Industries India Ltd.

Recommendation Target

Chola Wealth Direct

Background: Established in 1995, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world's largest manufacturing facility for packaged explosives. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 51 countries around the world. Economic Explosives, a 100% subsidiary, manufactures detonators. In recent years it has expanded its manufacturing base to Nigeria, Zambia, South Africa, Turkey, Ghana and Australia. SIIL also has interests in the...

Solar Industries Ind.. has an average target of 17253.00 from 3 brokers.

Solar Industries India Ltd.

24 Nov 2020

11911.00

1.18%

EARNINGS UPDATE-SOLAR INDUSTRIES 2QFY21

Neutral: Solar Industries India Ltd.

Recommendation Target

Chola Wealth Direct

Solar Industries has lost -30.34% in the last 6 Months

Solar Industries India Ltd.

12 Nov 2020

11911.00

1.18%

Solar Industries India

Hold: Solar Industries India Ltd.

Recommendation Target

ICICI Securities Limited

SIL's Q2FY21 performance was largely the result of its all-time high revenue from overseas & exports with business in Turkey returning to normal whereas commencement of Ghana operations further aided the performance. During the quarter, exports came in at | 81 crore and overseas at | 393 crore. Ex-new geographies, O&E; segment grew 18% YoY. Going ahead, SIL plans to add a few more markets to its overseas portfolio whereas in existing markets, the company plans to increase market share in South Africa (market size of US$700 million with SIL's share being 2.5%) & Australia...

Solar Industries India Ltd. is trading below all available SMAs

Solar Industries India Ltd.

31 Mar 2020

11911.00

1.18%

Solar Industries India

Sell: Solar Industries India Ltd.

Target

ICICI Securities Limited

Companies like Larsen & Toubro and KEC with exposure to Middle East and North Africa (MENA) region are expected to get moderately impacted by the recent more than 30% fall in crude oil prices to US$35/barrel. This is expected to impact overall orders/awarding from MENA region. Companies like Elgi Equipments, AIA Engineering, Thermax, Engineers India and Kalpataru Power with exposure to international geographies like Europe, Middle East, China for sales or essential raw material may get impacted. Accordingly, we have tried to factor in the additional risk and revised our...

Solar Industries India Ltd. is trading below all available SMAs

Solar Industries India Ltd.

14 Feb 2020

11911.00

1.18%

EARNINGS UPDATE-SOLAR INDUSTRIES 3QFY20

Sell: Solar Industries India Ltd.

Recommendation Target

Chola Wealth Direct

Background: Established in 1995, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world's largest manufacturing facility for packaged explosives. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 51 countries around the world. Economic Explosives, a 100% subsidiary, manufactures detonators. Solar has manufacturing facilities spread across 25 locations and eight states in India. In recent years expanded its manufacturing base to Nigeria,...

Number of FII/FPI investors increased from 487 to 499 in Sep 2025 qtr.

Solar Industries India Ltd.

13 Feb 2020

11911.00

1.18%

Solar Industries India

Sell: Solar Industries India Ltd.

Recommendation Target

ICICI Securities Limited

The weak performance in Q3FY20 was largely the result of extended monsoons, which led to the disruption in mining and infrastructure activities. This impacted the sale of packaged explosives in the eastern, central and northern regions. Demand for packaged explosives is expected to remain weak in the near term. On the other hand, Coal India's production was hindered by flooded mines. However, December and January saw an uptick in mining activities giving some respite for Q4FY20. Decline in prices of ammonium nitrate by ~8% coupled with a change in product mix (17% YoY...

Number of FII/FPI investors increased from 487 to 499 in Sep 2025 qtr.

Solar Industries India Ltd.

29 Nov 2019

11911.00

1.18%

EARNINGS UPDATE-SOLAR INDUSTRIES 2QFY20

Buy: Solar Industries India Ltd.

Target

Chola Wealth Direct

Sector: Chemicals /Small Cap | Earnings Update 2QFY20 Background: Established in 1995, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world's largest manufacturing facility for packaged explosives. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 51 countries around the world. Economic Explosives, a 100% subsidiary, manufactures detonators. Solar has manufacturing facilities spread across 25 locations and eight states in India. In recent years expanded its manufacturing base to Nigeria, Zambia, South...

Solar Industries Ind.. has an average target of 17253.00 from 3 brokers.

Solar Industries India Ltd.

05 Aug 2019

11911.00

1.18%

EARNINGS UPDATE-SOLAR INDUSTRIES 1QFY20

Buy: Solar Industries India Ltd.

Target

Chola Wealth Direct

Sector: Chemicals /Small Cap | Earnings Update 1QFY20 Background: Established in 1995, Solar Industries is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world's largest manufacturing facility for packaged explosives. With a licensed explosives capacity of over 290,000 MT/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 51 countries around the world. Economic Explosives, a 100% subsidiary, manufactures detonators. Solar has manufacturing facilities spread across 25 locations and eight states in India. In recent years expanded its manufacturing base to Nigeria, Zambia, South Africa, Turkey, Ghana and Australia. SIIL has also interests in the coal mines (in Chattisgarh) through two JVs....

Solar Industries has lost -30.34% in the last 6 Months

Solar Industries India Ltd.

01 Aug 2019

11911.00

1.18%

Op. performance impacted by weak overseas performance

Neutral: Solar Industries India Ltd.

Target

Motilal Oswal

Operational performance below expectation, impacted by weak overseas business: 1QFY20 consol. revenue remained flat YoY at INR6.2b (v/s our est. of INR7.2b), impacted by 18% YoY decline in exports and overseas business (INR350m translational loss in the overseas business). EBIDTA declined 2.8% YoY to INR1.3b (below our est. of INR1.5b). Margin declined 80bp YoY to 20.5% (below our est. of 21.3%) due to (a) raw material price (ammonium nitrate) increase not being completely passed on to the end consumer, and (b) forex loss of INR90m being impacted due to INR appreciation. Adj. net profit grew 5%...

Solar Industries India Ltd. is trading below all available SMAs

Solar Industries India Ltd.

01 Aug 2019

11911.00

1.18%

Solar Industries India

Hold: Solar Industries India Ltd.

Target

ICICI Securities Limited

For FY19, topline in the industrial explosive space grew 21.2% YoY to | 1273 crore. Volumes grew 8.8% YoY while realisations grew robustly by 11.3% YoY. Q1FY20 has seen softened demand from coal mining companies due to lower overburden removal. Over the next few quarters, the management expects demand to stabilise for the year. Driven by push for infrastructure sector by the government, road construction and housing are also expected to do well, going ahead. On the whole, improved offtake from key clients like Coal India and SCCL are expected to drive industrial explosives growth...

Solar Industries has lost -30.34% in the last 6 Months

Is Solar Industries India Ltd. worth buying?

176 Votes:

Buy 79.55%

Sell 12.5%

Hold 7.95%

RESEARCH REPORTS

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