Moneycontrol PRO

Accumulate Solar Industries India; target of Rs 3330: KR Choksey

KR Choksey recommended accumulate rating on Solar Industries India with a target price of Rs 3330 in its research report date May 05, 2022.

May 05, 2022 / 09:31 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

KR Choksey's research report on Solar Industries India


For the quarter Q4FY22, the revenue from operations grew by 66.4% YoY/29.4% QoQ to INR 13,169 mn. For full year FY22,the revenues grew by 56.9% to 39,476 mn. The EBITDA grew by 41.1% YoY/19.7% QoQ to INR 5,006 mn. The margins grew by 247 bps QoQ and de-grew by 83 bps YoY to 20.0% in Q4FY22. For FY22, the EBITDA grew by 45.2% and margins de-grew by 153 bps to 18.9% The PAT grew by 83.9% YoY/66.4% QoQ to INR 1,748 mn. The margins grew by 272 bps QoQ and 125 bps YoY to 12.7% in Q4FY22. For FY22, the Net Profit grew by 58.1% to INR 4,555 mn and margins grew by 19 bps to 11.2%. The company recommended a dividend of INR 7.5 per share i.e. 375% on the face value of INR 2 per share. The company maintains a healthy order book of INR 29,820 mn.


Outlook


At CMP of INR 2,997 ,Solar Industries is trading at a P/E of 46.0x/38.0x FY23E/24E EPS. We are applying a P/E multiple of 42.5x (earlier 40x) to the FY24E EPS of 78.3/share, implying a target price of 3,330 per share, yielding an upside potential of 11.1%; hence we recommend “ACCUMULATE” rating on the stock.


For all recommendations report, click here

Close

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: May 5, 2022 09:31 pm
Sections
ISO 27001 - BSI Assurance Mark