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SOLARINDS: Export Wins And Defence Orders Will Drive Multi Year Upside

Update shared on 15 Dec 2025

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AnalystConsensusTarget's Fair Value
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1Y
21.7%
7D
-3.2%

Analysts have marginally raised their price target on Solar Industries India by maintaining a fair value estimate of ₹17,146.29, while fine tuning assumptions on discount rate, revenue growth, profit margin, and future P/E to reflect a slightly improved long term risk reward profile.

What's in the News

  • Secured export orders worth INR 14,000 million for defence products from international clients, to be executed over four years (Key Developments)
  • Received a major domestic order of INR 4,830 million for supply of bulk explosives to SECL, a subsidiary of Coal India Limited, with a two-year delivery schedule (Key Developments)
  • Scheduled a board meeting on November 10, 2025, to review unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, and to approve a postal ballot notice (Key Developments)
  • Plans to seek shareholder approval via postal ballot for appointing Smt. Girija Balakrishnan and Shri Viswanathan Lakshmanan as non-executive directors for a five-year term, and for appointing M/s T.S. Pahade & Associates as scrutinizer for the process (Key Developments)
  • Called a special or extraordinary shareholders meeting through postal ballot in India on December 17, 2025 (Key Developments)

Valuation Changes

  • Fair Value Estimate: Unchanged at approximately ₹17,146 per share, indicating no revision to the core valuation anchor.
  • Discount Rate: Edged down slightly from about 13.36 percent to 13.36 percent, reflecting a marginally lower perceived risk profile.
  • Revenue Growth: Effectively stable at around 27.79 percent, with only immaterial fine tuning in modeling assumptions.
  • Net Profit Margin: Maintained at roughly 17.71 percent, with negligible numerical adjustment in the forecast trajectory.
  • Future P/E Multiple: Trimmed marginally from about 72.62x to 72.61x, pointing to a slightly more conservative long term valuation multiple.

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