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Last Updated : Feb 21, 2017 03:25 PM IST | Source: Moneycontrol.com

Buy Solar Industries; target of Rs 800: ICICI Direct

ICICI Direct is bullish on Solar Industries has recommended buy rating on the stock with a target price of Rs 800 in its research report dated February 17, 2017.

 
 
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ICICI Direct's research report on Solar Industries


Solar Industries (SIL) reported decent Q3FY17 numbers due to a strong performance in domestic markets. The topline and bottomline numbers of the company came in line with our estimates whereas EBITDA margins were lower than our estimates.


Outlook


We expect revenues and earnings to grow at 15.4% and 17.3% CAGR in FY16-19E, respectively. We value SIL at 27x FY19E EPS of Rs 29.6 to arrive at a target price of | 800 and continue to have a BUY recommendation on the company.

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First Published on Feb 21, 2017 03:25 pm
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