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Hold Solar Industries: target of Rs 2520: ICICI Direct

ICICI Direct recommended hold rating on Solar Industries with a target price of Rs 2520 in its research report dated January 31, 2022.

February 02, 2022 / 03:42 PM IST
 
 
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ICICI Direct's research report on Solar Industries


Solar Industries (SIL) is the largest manufacturer of industrial explosives and explosive initiating systems in India. It has a capacity of ~300,000 MT/year. It holds reasonable market share in India of ~28% It also leads the exports share from India, which is around 70% in industrial explosive and initiating system It exports to 55 countries in the world and has recently expanded its manufacturing base to many African Countries


Outlook


We maintain our HOLD rating on the stock We value the stock at Rs 2520, valuing the business at 35x FY24E earnings.


For all recommendations report, click here

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first published: Feb 2, 2022 03:42 pm
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