Solar Industries India Ltd (SOLARINDS)

Solar Industries Targeted by Proposed Nifty India Defence ETF - 16 Jul, 2024

Solar Industries India Ltd is among the 15 stocks targeted by the proposed Nifty India Defence ETF. ICICI Securities has given the company a target price of Rs 13,250 with an upside potential of 12%, citing the expected benefits from the upcoming Pinaka order.

Solar Industries Supplies Military Drones to Indian Army - 13 Jul, 2024

Solar Industries has supplied the Indian Army with Nagastra-1 Loitering Munitions, marking a notable enhancement in India's defense capabilities. The company received an order to supply over 400 military drones worth up to Rs 300 crores to the Indian Army.

Solar Industries India Hits All-Time High - 10 Jul, 2024

Shares of Solar Industries India Ltd reach an all-time high of Rs 12,535.25 per share and open in green trading at Rs 12,165.60 per share on July 10, 2024. The stock has generated a multi-bagger return of 242% over the past year and 76% over the past 6 months.

Solar Industries India Crosses Rs 1 Lakh Crore Market Cap Milestone - 09 Jul, 2024

Explosives manufacturer Solar Industries India has surpassed the Rs 1 lakh crore market cap milestone, with an order book valued at Rs 5,129 crore and a sales volume of 5.5 lakh MT. The company reported its highest-ever yearly EBITDA of Rs 1,414 crore and a PAT of Rs 875 crore for Q4FY24. Shares have delivered multibagger returns of approximately 192% over the past year.

Solar Industries India Ltd Surpasses ₹1 Lakh Crore in Market Cap - 07 Jul, 2024

The stock of Solar Industries surged 21.6% over the past week, driven by its South African subsidiary's acquisition of a majority stake in Problast BS and the development of three new explosive formulations by its subsidiary Economic Explosives.

Solar Industries India Sees Share Price Surge and Subsidiary Acquires Majority Stake - 05 Jul, 2024

Solar Industries India's share price has surged by 40% over the past month, while its subsidiary acquired a majority stake in Problast BS (Pty) Ltd, South Africa. ICICI Securities has a buy call on the company with a target price of Rs 13250.

ICICI Securities Recommends Buy Rating for Solar Industries India Ltd - 04 Jul, 2024

ICICI Securities has recommended a buy rating for Solar Industries with a target price of Rs 13,250. The company's new explosives have been certified by the Indian Navy, boosting defense revenue from domestic opportunities and exports to neighboring countries. P/E multiple raised to 65x based on FY26E EPS.

Solar Industries India Ltd Shares Reach All-Time High - 03 Jul, 2024

Shares of Solar Industries India Ltd reached an all-time high, achieving a market capitalisation of 1 lakh crore on July 2 after its subsidiary unveiled a new explosive formulation certified by the Indian Navy. The development of SEBEX 2 will enhance the potency and efficiency of weapons and ammunition in use.

Solar Industries Hits Record High on Explosive Formulations News - 02 Jul, 2024

Shares of Solar Industries India Ltd surged to a record high of Rs 11,187 and crossed the Rs 1 lakh crore market cap milestone after its subsidiary developed three new explosive formulations certified by the Indian Navy. The company's Q4FY24 net profit rose 10% YoY to Rs 243 crore, while gross margin expanded 1024 bps to 48.5%. Management is confident of a three-fold rise in defence revenue in FY25.

Solar Industries Develops High-Performance Explosive - 01 Jul, 2024

Solar Industries has developed SEBEX 2, an indigenously manufactured explosive that is 2.01 times more powerful than standard TNT. The Indian Navy has conducted certification tests for the new explosive, which could enhance the potency and efficiency of India's weapons and ammunition.

Solar Industries India FY24 Net Income Up 10% - 29 Jun, 2024

Solar Industries India reported a net income of ₹8.36b for FY24, up 10% YoY. Revenue missed analyst estimates by 2.1%, but revenue is forecast to grow 24% p.a. on average during the next 2 years.