SOLAR INDUSTRIES INDIA LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8,983 INR | +8.24% |
|
+3.11% | +33.53% |
| 16/05 | Solar Industries India Limited Recommends Final Dividend for the Financial Year 2023-24 | CI |
| 15/05 | India's weight in key MSCI equity index hits another high, to boost inflows | RE |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 98,146 | 82,726 | 1,16,067 | 2,53,055 | 3,43,184 | 7,51,045 | - | - |
| Enterprise Value (EV) 1 | 98,146 | 82,726 | 1,16,067 | 2,53,055 | 3,43,184 | 7,94,661 | 7,51,045 | 7,51,045 |
| P/E ratio | 37.5 x | 30.9 x | 42 x | 57.3 x | 45.3 x | 95.1 x | 63.4 x | 49.5 x |
| Yield | 0.65% | 0.66% | 0.47% | 0.27% | 0.21% | 0.11% | 0.12% | 0.14% |
| Capitalization / Revenue | 3.99 x | 3.7 x | 4.61 x | 6.41 x | 4.96 x | 13.1 x | 9 x | 7.83 x |
| EV / Revenue | 3.99 x | 3.7 x | 4.61 x | 6.41 x | 4.96 x | 13.1 x | 9 x | 7.83 x |
| EV / EBITDA | 19.6 x | 19 x | 22.6 x | 33.9 x | 26.6 x | 58 x | 39 x | 32.3 x |
| EV / FCF | 1,675 x | 98.8 x | 127 x | 2,443 x | 193 x | 129 x | 201 x | 89.9 x |
| FCF Yield | 0.06% | 1.01% | 0.79% | 0.04% | 0.52% | 0.78% | 0.5% | 1.11% |
| Price to Book | 7.93 x | 5.99 x | 7.35 x | 13.2 x | 13.1 x | 22.1 x | 16.5 x | 12.6 x |
| Nbr of stocks (in thousands) | 90,490 | 90,490 | 90,490 | 90,490 | 90,490 | 90,490 | - | - |
| Reference price 2 | 1,085 | 914.2 | 1,283 | 2,796 | 3,792 | 8,300 | 8,300 | 8,300 |
| Announcement Date | 09/05/19 | 31/07/20 | 27/05/21 | 04/05/22 | 03/05/23 | 16/05/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 24,616 | 22,373 | 25,156 | 39,476 | 69,225 | 60,695 | 83,436 | 95,920 |
| EBITDA 1 | 5,019 | 4,343 | 5,146 | 7,473 | 12,889 | 13,692 | 19,246 | 23,277 |
| EBIT 1 | 4,430 | 3,498 | 4,211 | 6,380 | 11,607 | 12,258 | 17,699 | 22,130 |
| Operating Margin | 18% | 15.63% | 16.74% | 16.16% | 16.77% | 20.2% | 21.21% | 23.07% |
| Earnings before Tax (EBT) 1 | 4,018 | 3,358 | 3,971 | 6,074 | 11,016 | 11,613 | 16,225 | 19,671 |
| Net income 1 | 2,616 | 2,674 | 2,764 | 4,413 | 7,572 | 8,359 | 12,012 | 15,168 |
| Net margin | 10.63% | 11.95% | 10.99% | 11.18% | 10.94% | 13.77% | 14.4% | 15.81% |
| EPS 2 | 28.91 | 29.55 | 30.54 | 48.77 | 83.68 | 92.38 | 130.8 | 167.6 |
| Free Cash Flow 1 | 58.6 | 836.9 | 917.2 | 103.6 | 1,774 | 5,841 | 3,733 | 8,359 |
| FCF margin | 0.24% | 3.74% | 3.65% | 0.26% | 2.56% | 9.42% | 4.47% | 8.71% |
| FCF Conversion (EBITDA) | 1.17% | 19.27% | 17.82% | 1.39% | 13.76% | 40.66% | 19.4% | 35.91% |
| FCF Conversion (Net income) | 2.24% | 31.29% | 33.19% | 2.35% | 23.42% | 66.17% | 31.08% | 55.11% |
| Dividend per Share 2 | 7.000 | 6.000 | 6.000 | 7.500 | 8.000 | 9.000 | 10.00 | 11.62 |
| Announcement Date | 09/05/19 | 31/07/20 | 27/05/21 | 04/05/22 | 03/05/23 | 16/05/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 10,179 | 13,168 | 16,156 | 15,666 | 18,118 | 19,285 | 16,822 | 15,499 | 15,473 | 18,223 |
| EBITDA 1 | - | 1,780 | 2,628 | 2,830 | 2,990 | 3,495 | 3,575 | 3,313 | 3,183 | 3,594 | 4,480 |
| EBIT | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | 2,994 | 3,020 | 2,724 | 2,942 | 2,816 | - |
| Net income 1 | 737.9 | - | - | - | - | 2,046 | 2,061 | 1,974 | 1,940 | 2,146 | 2,884 |
| Net margin | - | - | - | - | - | 11.29% | 10.69% | 11.74% | 12.51% | 13.87% | 15.83% |
| EPS 2 | 8.150 | - | - | - | - | 22.61 | 22.78 | 21.82 | 24.00 | 23.00 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 29/10/21 | 29/01/22 | 04/05/22 | 25/07/22 | 04/11/22 | 25/01/23 | 03/05/23 | 03/08/23 | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 58.6 | 837 | 917 | 104 | 1,774 | 5,841 | 3,733 | 8,359 |
| ROE (net income / shareholders' equity) | 22.5% | 20.4% | 18.7% | 25.3% | 33.5% | 29.2% | 29.3% | 29.7% |
| ROA (Net income/ Total Assets) | 12.2% | 11.1% | - | - | - | - | - | - |
| Assets 1 | 21,386 | 24,072 | - | - | - | - | - | - |
| Book Value Per Share 2 | 137.0 | 152.0 | 175.0 | 212.0 | 288.0 | 376.0 | 503.0 | 659.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 2,526 | 2,411 | 2,650 | 2,874 | 4,791 | 7,375 | 6,875 | 6,875 |
| Capex / Sales | 10.26% | 10.78% | 10.53% | 7.28% | 6.92% | 11.89% | 8.24% | 7.17% |
| Announcement Date | 09/05/19 | 31/07/20 | 27/05/21 | 04/05/22 | 03/05/23 | 16/05/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
8,300
INR
Average target price
7,892
INR
Spread / Average Target
-4.92%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +33.53% | 9B | |
| +5.12% | 105B | |
| -3.11% | 64.71B | |
| +74.29% | 49.72B | |
| +15.53% | 38.6B | |
| +5.11% | 32.54B | |
| +10.79% | 19.94B | |
| +13.07% | 16.92B | |
| +18.38% | 15.2B | |
| +4.83% | 14.39B |
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