Solar Industries India Ltd Stock Analysis

BSE: 532725 | NSE: SOLARINDS | Chemicals | Large Cap

BSE Share Price 23-Sep-2022 18:01
3698.90 -120.95 (-3.17%)

DeciZen - Make an Informed Decision on Solar Industries

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

Solar Industries Price Chart

P/E Ratio (SA) :
123.41
Market Cap :
33,471.4 Cr.
52-wk low :
1,987.3
52-wk high :
3,946.9
Bole Toh?

1. Is Solar Industries India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Solar Industries India Ltd is a good quality company.

2. Is Solar Industries India Ltd undervalued or overvalued?

The key valuation ratios of Solar Industries India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Solar Industries India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Solar Industries India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Solar Industries:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Solar Industries India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 16.1%16.5%16.3%15.6%17.1%15.5%21%19.2%16.7%17.9%-
Value Creation Index 0.20.20.20.20.30.20.60.40.20.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8879041,0151,0161,1371,2731,6631,5121,5842,5282,983
YoY Gr. Rt. %-1.9%12.3%0.2%11.9%12%30.6%-9.1%4.8%59.6%-
Adj EPS 9.211.111.911.514.414.421.922.42227.130
YoY Gr. Rt. %-20.2%7.6%-3.4%24.7%0.4%52%2.4%-1.9%23%-
BVPS (₹) 43.750.457.960.672.883.997.8112.9127.8150.9159.7
Adj Net Profit 83.5100108104130130198203199245271
Cash Flow from Ops. -3.882.115017470.2213210195148294-
Debt/CF from Ops. -60.83.1113.50.70.80.70.90.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.3%17.3%15%59.6%
Adj EPS 12.7%13.5%7.3%23%
BVPS 14.815.715.618.1
Share Price 33.9% 32.1% 48.3% 84.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 25.123.62219.521.518.424.121.318.319.419.3
Op. Profit Mgn % 12.416.215.31819.117.919.217.418.314.312.9
Net Profit Mgn % 9.411.110.610.311.410.211.913.412.69.79.1
Debt to Equity 0.60.60.30.30.40.20.20.10.10.1-
Working Cap Days 1341471371411431521321501521300
Cash Conv. Cycle 445745334353384452490

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 14.98%

Sales growth is good in last 4 quarters at 60.84%

Return on Equity has declined versus last 3 years average to 19.30%

Net Profit has been subdued in last 3 years 7.31%

Latest Financials - Solar Industries India Ltd.

Standalone Consolidated
TTM EPS (₹) 30 56.8
TTM Sales (₹ Cr.) 2,983 4,738
BVPS (₹.) 159.7 231.7
Reserves (₹ Cr.) 1,427 2,079
P/BV 23.16 15.96
PE 123.41 65.12
From the Market
52 Week Low / High (₹) 1987.25 / 3946.90
All Time Low / High (₹) 18.81 / 3946.90
Market Cap (₹ Cr.) 33,471
Equity (₹ Cr.) 18.1
Face Value (₹) 2
Industry PE 37.3

Management X-Ray of Solar Industries :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Solar Industries

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About Solar Industries India Ltd

Solar Explosives, a Solar group company was incorporated on February 24, 1995 by Satyanarayan Nuwal, Nandlal Nuwal and Kailashchandra Nuwal. The journey of “Solar” Group started in the year 1984 when a proprietary firm Solar Explosives was formed by Satyanarayan Nuwal for trading in Explosives. In this year one of the, then largest Indian Explosive manufacturing company awarded its first consignment agency to Solar Explosives. The name of Solar Explosives Limited got changed to Solar Industries India Limited and the trading symbol of the company on NSE was changed from SOLAREX to SOLARINDS with effect from April 13, 2009.

Solar Group has evolved from a single site manufacturing company in 1995 to a globally recognised Industrial Explosives manufacturer today. With extensive experience, expertise and potential founded on years of experience in the Industrial Explosives segment, the company has entered into Defence and setup one of the world’s most integrated facilities for Ammunition.

Its innovation edge is rooted in a strategic blend of talented manpower and technological prowess. The company bank on its rich experience to create sustainable value and intend to accelerate towards excellence at an impressive pace. The company employ a comprehensive suite of robust best practice policies, and are committed to the safety, health, and wellbeing of people, communities and the environment.

Business area of the company

The company is one of the largest domestic manufacturer and supplier of bulk and cartridge explosives, detonators, detonating cords, and components.

Products

  • Industrial Explosives
  • Defence

Milestones

  • 1983: Commenced explosives trading business
  • 1996: Started production of Detonators
  • 1998: Added Detonating Cord, Cast Booster and PETN to product portfolio
  • 2000: Commenced production of Packaged Explosives after being incorporated in 1995
  • 2001: Commenced production of Bulk Explosives
  • 2006: Listed shares on Bombay Stock Exchange and National Stock Exchange
  • 2006: Commenced Exports
  • 2007: Extended India presence by setting up new bulk plants
  • 2009: Emerged as India’s largest explosives manufacturer
  • 2009: Set up manufacturing units at Zambia and Nigeria
  • 2010: Ventured into Defence Segment for manufacturing HMX and Propellants
  • 2011-12: Set up manufacturing unit at Turkey
  • 2013: Commenced manufacturing of 3-layer shock tubes.
  • 2013: Started commercial production of Electronic Detonators
  • 2013: Introduced underground Bulk Explosives
  • 2015: Started supplying HMX and HMX Compounds
  • 2016: Set up facilities to manufacture Warhead Filling, Pyros, Ignitors, Propellants for Pinaka Mark-II
  • 2017: Operationalised plant in South Africa. Started getting Bulk Defence Order
  • 2018: Started Export of Defence Products
  • 2018: Received TOT for mass production of Crucial Solid Propellant Booster of BrahMos missiles
  • 2019: Defence turnover stood at Rs 170.20 crore for FY 18-19
  • 2020: Celebrating 25 Years of excellence in the field of Explosives
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