Annonce • May 29
Solar Industries India Limited announces Annual dividend, payable on September 10, 2026 Solar Industries India Limited announced Annual dividend of INR 11.0000 per share payable on September 10, 2026, ex-date on July 28, 2026 and record date on July 28, 2026. Price Target Changed • May 17
Price target increased by 7.8% to ₹18,033 Up from ₹16,733, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of ₹17,352. Stock is up 24% over the past year. The company is forecast to post earnings per share of ₹272 for next year compared to ₹185 last year. Reported Earnings • May 16
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: ₹185 (up from ₹134 in FY 2025). Revenue: ₹98.4b (up 31% from FY 2025). Net income: ₹16.8b (up 39% from FY 2025). Profit margin: 17% (up from 16% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 15
Solar Industries India Limited, Annual General Meeting, Aug 11, 2026 Solar Industries India Limited, Annual General Meeting, Aug 11, 2026. Annonce • May 08
Solar Industries India Limited to Report Q4, 2026 Results on May 15, 2026 Solar Industries India Limited announced that they will report Q4, 2026 results on May 15, 2026 Reported Earnings • Feb 04
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: ₹49.31 (up from ₹34.80 in 3Q 2025). Revenue: ₹25.5b (up 29% from 3Q 2025). Net income: ₹4.46b (up 42% from 3Q 2025). Profit margin: 18% (up from 16% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.6%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 27
Solar Industries India Limited to Report Q3, 2026 Results on Feb 03, 2026 Solar Industries India Limited announced that they will report Q3, 2026 results on Feb 03, 2026 Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹38.12 (vs ₹31.59 in 2Q 2025) Second quarter 2026 results: EPS: ₹38.12 (up from ₹31.59 in 2Q 2025). Revenue: ₹20.8b (up 21% from 2Q 2025). Net income: ₹3.45b (up 21% from 2Q 2025). Profit margin: 17% (in line with 2Q 2025). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 03
Solar Industries India Limited to Report Q2, 2026 Results on Nov 10, 2025 Solar Industries India Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Annonce • Oct 20
Solar Industries India Limited Announces the Cessation of Natrajan Ramkrishna as Non-Executive Independent Director, Effective October 18, 2025 Solar Industries India Limited announced that the tenure (First Term) of Shri Natrajan Ramkrishna as Non-Executive Independent Director of the Company shall stand completed effective from October 18, 2025, and thereafter Shri Natrajan Ramkrishna shall cease to be Non-Executive Independent Director of the Company. Price Target Changed • Oct 03
Price target increased by 7.3% to ₹17,106 Up from ₹15,939, the current price target is an average from 6 analysts. New target price is 24% above last closing price of ₹13,847. Stock is up 26% over the past year. The company is forecast to post earnings per share of ₹188 for next year compared to ₹134 last year. Board Change • Sep 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Additional Director Dinesh Batra was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹37.43 (vs ₹31.66 in 1Q 2025) First quarter 2026 results: EPS: ₹37.43 (up from ₹31.66 in 1Q 2025). Revenue: ₹21.5b (up 27% from 1Q 2025). Net income: ₹3.39b (up 18% from 1Q 2025). Profit margin: 16% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 02
Solar Industries India Limited to Report Q1, 2026 Results on Aug 07, 2025 Solar Industries India Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Annonce • Jul 24
Solar Industries India Limited Declares Final Dividend for the Financial Year Ended March 31, 2025 Solar Industries India Limited at its 30th Annual General Meeting held on July 22, 2025, approved the declaration of Final Dividend of INR 10 per equity share for the financial year ended on March 31, 2025. Upcoming Dividend • Jul 01
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 21 August 2025. Payout ratio is a comfortable 7.5% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.7%). Reported Earnings • Jun 29
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹134 (up from ₹92.38 in FY 2024). Revenue: ₹75.4b (up 24% from FY 2024). Net income: ₹12.1b (up 45% from FY 2024). Profit margin: 16% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 22
Dividend increased to ₹10.00 Dividend of ₹10.00 is 18% higher than last year. Ex-date: 8th July 2025 Payment date: 21st August 2025 Dividend yield will be 0.07%, which is lower than the industry average of 0.8%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 6%. Annonce • May 21
Solar Industries India Limited announces Annual dividend, payable on August 21, 2025 Solar Industries India Limited announced Annual dividend of INR 10.0000 per share payable on August 21, 2025, ex-date on July 08, 2025 and record date on July 08, 2025. Reported Earnings • May 21
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹134 (up from ₹92.38 in FY 2024). Revenue: ₹75.4b (up 24% from FY 2024). Net income: ₹12.1b (up 45% from FY 2024). Profit margin: 16% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 20
Solar Industries India Limited, Annual General Meeting, Jul 22, 2025 Solar Industries India Limited, Annual General Meeting, Jul 22, 2025. Annonce • May 13
Solar Industries India Limited to Report Q4, 2025 Results on May 20, 2025 Solar Industries India Limited announced that they will report Q4, 2025 results on May 20, 2025 Price Target Changed • Apr 23
Price target increased by 8.8% to ₹12,453 Up from ₹11,447, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹13,081. Stock is up 49% over the past year. The company is forecast to post earnings per share of ₹137 for next year compared to ₹92.38 last year. Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: ₹34.80 (vs ₹22.47 in 3Q 2024) Third quarter 2025 results: EPS: ₹34.80 (up from ₹22.47 in 3Q 2024). Revenue: ₹19.7b (up 38% from 3Q 2024). Net income: ₹3.15b (up 55% from 3Q 2024). Profit margin: 16% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 30
Solar Industries India Limited to Report Q3, 2025 Results on Feb 05, 2025 Solar Industries India Limited announced that they will report Q3, 2025 results on Feb 05, 2025 Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹31.59 (vs ₹22.12 in 2Q 2024) Second quarter 2025 results: EPS: ₹31.59 (up from ₹22.12 in 2Q 2024). Revenue: ₹17.5b (up 30% from 2Q 2024). Net income: ₹2.86b (up 43% from 2Q 2024). Profit margin: 16% (up from 15% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 08
Solar Industries India Limited to Report Q2, 2025 Results on Nov 13, 2024 Solar Industries India Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Price Target Changed • Aug 08
Price target increased by 8.1% to ₹11,139 Up from ₹10,309, the current price target is an average from 4 analysts. New target price is 8.4% above last closing price of ₹10,274. Stock is up 149% over the past year. The company is forecast to post earnings per share of ₹144 for next year compared to ₹92.38 last year. Price Target Changed • Aug 07
Price target increased by 11% to ₹10,780 Up from ₹9,746, the current price target is an average from 4 analysts. New target price is 5.6% above last closing price of ₹10,210. Stock is up 158% over the past year. The company is forecast to post earnings per share of ₹136 for next year compared to ₹92.38 last year. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: ₹31.66 (vs ₹21.82 in 1Q 2024) First quarter 2025 results: EPS: ₹31.66 (up from ₹21.82 in 1Q 2024). Revenue: ₹16.9b (flat on 1Q 2024). Net income: ₹2.86b (up 45% from 1Q 2024). Profit margin: 17% (up from 12% in 1Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jul 30
Solar Industries India Limited to Report Q1, 2025 Results on Aug 06, 2024 Solar Industries India Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • Jun 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹92.38 (up from ₹83.68 in FY 2023). Revenue: ₹60.7b (down 12% from FY 2023). Net income: ₹8.36b (up 10% from FY 2023). Profit margin: 14% (up from 11% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 27
Upcoming dividend of ₹8.50 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 17 August 2024. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.7%). New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • May 18
Price target increased by 9.0% to ₹8,604 Up from ₹7,892, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹8,982. Stock is up 136% over the past year. The company is forecast to post earnings per share of ₹141 for next year compared to ₹92.38 last year. Annonce • May 18
Solar Industries India Limited, Annual General Meeting, Jul 18, 2024 Solar Industries India Limited, Annual General Meeting, Jul 18, 2024. Annonce • May 17
Solar Industries India Limited Recommends Final Dividend for the Financial Year 2023-24 Solar Industries India Limited recommended a final dividend of INR 8.50 per equity share i.e. 425% on the face value of INR 2 each for the financial year 2023-24 subject to approval of shareholders at the upcoming Annual General Meeting. The dividend, if approved by the members of the company at the upcoming Annual General Meeting ("AGM"), will be paid within 30 days from the date of AGM. Annonce • May 11
Solar Industries India Limited to Report Q4, 2024 Results on May 16, 2024 Solar Industries India Limited announced that they will report Q4, 2024 results on May 16, 2024 Board Change • Apr 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Rashmi Prasad was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 26
Price target increased by 9.8% to ₹7,892 Up from ₹7,187, the current price target is an average from 4 analysts. New target price is 15% below last closing price of ₹9,294. Stock is up 154% over the past year. The company is forecast to post earnings per share of ₹97.63 for next year compared to ₹83.68 last year. Price Target Changed • Feb 10
Price target increased by 10% to ₹7,187 Up from ₹6,532, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹6,897. Stock is up 82% over the past year. The company is forecast to post earnings per share of ₹99.73 for next year compared to ₹83.68 last year. Reported Earnings • Feb 08
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹22.47 (down from ₹22.61 in 3Q 2023). Revenue: ₹14.4b (down 21% from 3Q 2023). Net income: ₹2.03b (flat on 3Q 2023). Profit margin: 14% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) also missed analyst estimates by 2.3%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 01
Solar Industries India Limited to Report Q3, 2024 Results on Feb 07, 2024 Solar Industries India Limited announced that they will report Q3, 2024 results on Feb 07, 2024 Price Target Changed • Jan 18
Price target increased by 13% to ₹6,532 Up from ₹5,802, the current price target is an average from 4 analysts. New target price is 5.4% below last closing price of ₹6,906. Stock is up 59% over the past year. The company is forecast to post earnings per share of ₹105 for next year compared to ₹83.68 last year. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹6,170, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 522% over the past three years. Board Change • Nov 04
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Additional Non-Executive Independent Director Natrajh Ramkrishna was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹22.12 (vs ₹19.49 in 2Q 2023) Second quarter 2024 results: EPS: ₹22.12 (up from ₹19.49 in 2Q 2023). Revenue: ₹13.6b (down 14% from 2Q 2023). Net income: ₹2.00b (up 14% from 2Q 2023). Profit margin: 15% (up from 11% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 04
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: ₹21.82 (up from ₹18.81 in 1Q 2023). Revenue: ₹16.9b (up 4.6% from 1Q 2023). Net income: ₹1.97b (up 16% from 1Q 2023). Profit margin: 12% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 24
Solar Industries India Limited Does Not Approve the Re-Appointment of Smt. Sujitha Karnad as Non- Executive Independent Director of the Company Solar Industries India Limited did not approve the re-appointment of Smt. Sujitha Karnad as Non- Executive Independent Director of the Company. Annonce • Jun 22
Solar Industries India Limited Approves Final Dividend for the Financial Year Ended on March 31, 2023 Solar Industries India Limited approved final dividend of INR 8 per equity share for the financial year ended on March 31, 2023, at its Annual General Meeting held on June 21, 2023. Reported Earnings • Jun 03
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: ₹83.68 (up from ₹48.77 in FY 2022). Revenue: ₹69.2b (up 75% from FY 2022). Net income: ₹7.57b (up 72% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 02
Upcoming dividend of ₹8.00 per share at 0.2% yield Eligible shareholders must have bought the stock before 09 June 2023. Payment date: 21 July 2023. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.9%). Reported Earnings • May 05
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: ₹83.68 (up from ₹48.77 in FY 2022). Revenue: ₹69.5b (up 76% from FY 2022). Net income: ₹7.57b (up 72% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 04
Solar Industries India Limited Recommends Final Dividend for the Financial Year 2022-23 Solar Industries India Limited Recommended a Final Dividend of INR 8 per equity share i.e. 400% on the face value of INR 2/- each for the financial year 2022-23 subject to approval of shareholders at the ensuing Annual General Meeting. The dividend, if approved by the members of the Company at the ensuing Annual General Meeting, will be paid within 30 days from the date of AGM. Reported Earnings • Jan 26
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹22.61 (up from ₹11.28 in 3Q 2022). Revenue: ₹18.1b (up 78% from 3Q 2022). Net income: ₹2.05b (up 100% from 3Q 2022). Profit margin: 11% (up from 10.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 19
Solar Industries India Limited to Report Q3, 2023 Results on Jan 25, 2023 Solar Industries India Limited announced that they will report Q3, 2023 results on Jan 25, 2023 Price Target Changed • Nov 16
Price target increased to ₹4,252 Up from ₹3,177, the current price target is an average from 5 analysts. New target price is 5.7% above last closing price of ₹4,024. Stock is up 47% over the past year. The company is forecast to post earnings per share of ₹80.30 for next year compared to ₹48.77 last year. Major Estimate Revision • Nov 11
Consensus revenue estimates increase by 16% The consensus outlook for revenues in 2023 has improved. 2023 revenue forecast increased from ₹52.1b to ₹60.3b. EPS estimate increased from ₹67.80 to ₹80.30 per share. Net income forecast to grow 29% next year vs 25% growth forecast for Chemicals industry in India. Consensus price target up from ₹3,177 to ₹4,252. Share price rose 4.4% to ₹4,182 over the past week. Price Target Changed • Nov 07
Price target increased to ₹3,702 Up from ₹3,177, the current price target is an average from 5 analysts. New target price is 7.6% below last closing price of ₹4,007. Stock is up 61% over the past year. The company is forecast to post earnings per share of ₹71.55 for next year compared to ₹48.77 last year. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: ₹19.49 (vs ₹8.15 in 2Q 2022) Second quarter 2023 results: EPS: ₹19.49 (up from ₹8.15 in 2Q 2022). Revenue: ₹15.7b (up 99% from 2Q 2022). Net income: ₹1.76b (up 139% from 2Q 2022). Profit margin: 11% (up from 9.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Oct 21
Solar Industries India Limited Announces Resignation of Shri Dilip Patel from the Position of Non-Executive Independent Director Solar Industries India Limited announced that Shri Dilip Patel has resigned from the position of Non-Executive Independent Director of the company on attaining the age of Seventy-Five years with effect from the closing of business hours of October 19, 2022. Consequently he tender resignation as a Chairman/Member of the following Committees of the board of directors of the company: Audit committee (chairman), Risk management committee (Member) and nomination and compensation cum remuneration committee(member). Which shall also become effective from the above date. Annonce • Oct 20
Solar Industries India Limited Appoints Natrajan Ramkrishna as Additional Director (Non-Executive Independent Director) Solar Industries India Limited informed that the Board of Directors of the Company based on the recommendation of the Nomination and Remuneration Committee vide circular resolution passed on October 18, 2022 approved the appointment of Shri. Natrajan Ramkrishna (DIN:-06597041) as an Additional Director (Non-Executive Independent Director) of the Company with effect from October 19, 2022. Date of Birth: May 28, 1955. Term of appointment: Appointed as Additional Director (Non-executive Independent Director) effective from October 19, 2022 for an initial tenure of 3 years subject to the approval of the shareholders of the company by means of Special Resolution on or before January 18, 2023. Qualification: Chartered Accountant; Graduate in Economics. Brief Profile: He has an experience of over forty years in the accounting profession focusing mainly on Generally Accepted Accounting Principles (GAAP), IFRS, IndAS and Auditing. His areas of core competencies are:- Financial Reporting: under Indian Accounting Standards and IFRS; Board and Corporate Governance: He has provided advisory vision and framework for various iconic Board and Committee compositions all over the country; Financial Services Sector: He has proactively implemented approaches in different credit markets and operational risk framework in planning `long term fit' for Financial Growth/Economic Profits for the company; Operational Excellence: He has extensive knowledge and experience in handling cultural integrations. Having worked with some large International Accounting firms he has gained immense experience with boards and committees as to laying down policy frameworks relating to Business Resilience and Continuity Planning. He has a proven track record of work spread over various sectors such as Information Technology, Financial Services, FMCG Companies and Telecom. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improved over the past week After last week's 15% share price gain to ₹3,973, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 271% over the past three years. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improved over the past week After last week's 17% share price gain to ₹3,137, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 190% over the past three years. Reported Earnings • Jul 26
First quarter 2023 earnings released: EPS: ₹18.81 (vs ₹10.78 in 1Q 2022) First quarter 2023 results: EPS: ₹18.81 (up from ₹10.78 in 1Q 2022). Revenue: ₹16.2b (up 97% from 1Q 2022). Net income: ₹1.70b (up 75% from 1Q 2022). Profit margin: 11% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.1%, compared to a 17% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 12
Solar Industries India Limited Approves Final Dividend for the Financial Year Ended on March 31, 2022 Solar Industries India Limited approved final dividend of INR 7.5 per equity share for the financial year ended on March 31, 2022, at its Annual General Meeting held on June 10, 2022. Annonce • Jun 07
Solar Industries India Limited (BSE:532725) entered into a non-binding term sheet to acquire an unknown minority stake in Rajasthan Explosives & Chemicals Ltd. Solar Industries India Limited (BSE:532725) entered into a non-binding term sheet to acquire an unknown minority stake in Rajasthan Explosives & Chemicals Ltd on June 6, 2022. Upcoming Dividend • May 20
Upcoming dividend of ₹7.50 per share Eligible shareholders must have bought the stock before 27 May 2022. Payment date: 18 June 2022. Payout ratio is a comfortable 15% but the company is paying out more than the cash it is generating. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.8%). Major Estimate Revision • May 11
Consensus revenue estimates increase by 14% The consensus outlook for revenues in 2023 has improved. 2023 revenue forecast increased from ₹42.7b to ₹48.8b. EPS estimate increased from ₹56.46 to ₹64.20 per share. Net income forecast to grow 32% next year vs 24% growth forecast for Chemicals industry in India. Consensus price target up from ₹2,581 to ₹2,872. Share price fell 6.1% to ₹2,817 over the past week. Price Target Changed • May 09
Price target increased to ₹2,872 Up from ₹2,581, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹2,978. Stock is up 141% over the past year. The company is forecast to post earnings per share of ₹64.20 for next year compared to ₹48.77 last year. Reported Earnings • May 05
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹48.77 (up from ₹30.54 in FY 2021). Revenue: ₹39.7b (up 58% from FY 2021). Net income: ₹4.41b (up 60% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 18%, compared to a 21% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 04
Solar Industries India Limited, Annual General Meeting, Jun 10, 2022 Solar Industries India Limited, Annual General Meeting, Jun 10, 2022. Location: "Solar" House, 14, Kachimet, Amravati Road Nagpur Maharashtra India Price Target Changed • Apr 27
Price target increased to ₹2,581 Up from ₹2,376, the current price target is an average from 5 analysts. New target price is 6.7% below last closing price of ₹2,767. Stock is up 114% over the past year. The company is forecast to post earnings per share of ₹44.24 for next year compared to ₹30.54 last year. Price Target Changed • Apr 11
Price target increased to ₹2,581 Up from ₹2,376, the current price target is an average from 5 analysts. New target price is 14% below last closing price of ₹2,993. Stock is up 138% over the past year. The company is forecast to post earnings per share of ₹44.24 for next year compared to ₹30.54 last year. Reported Earnings • Jan 30
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹11.28 (up from ₹8.62 in 3Q 2021). Revenue: ₹10.2b (up 59% from 3Q 2021). Net income: ₹1.02b (up 31% from 3Q 2021). Profit margin: 10.0% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 16%, compared to a 19% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 04
Second quarter 2022 earnings released: EPS ₹8.15 (vs ₹7.20 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹7.99b (up 36% from 2Q 2021). Net income: ₹737.9m (up 13% from 2Q 2021). Profit margin: 9.2% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 21% share price gain to ₹2,419, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 33x in the Chemicals industry in India. Total returns to shareholders of 142% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₹1,992, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 33x in the Chemicals industry in India. Total returns to shareholders of 86% over the past three years. Upcoming Dividend • Aug 11
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 18 August 2021. Payment date: 30 September 2021. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.7%). Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS ₹10.78 (vs ₹4.65 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹8.26b (up 68% from 1Q 2021). Net income: ₹975.1m (up 132% from 1Q 2021). Profit margin: 12% (up from 8.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 21% share price gain to ₹1,600, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 42% over the past three years. Reported Earnings • May 30
Full year 2021 earnings released: EPS ₹30.54 (vs ₹29.55 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: ₹25.2b (up 12% from FY 2020). Net income: ₹2.76b (up 3.3% from FY 2020). Profit margin: 11% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Price Target Changed • May 30
Price target increased to ₹1,425 Up from ₹1,328, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₹1,402. Stock is up 57% over the past year. Annonce • May 29
Solar Industries India Limited Recommends Final Dividend for the Financial Year Ended March 31, 2021 Solar Industries India Limited has recommended a final dividend of INR 6 per equity share i.e. 300% on the face value of INR. 2 each for the financial year 2020-2021 subject to approval of shareholders at the upcoming Annual General Meeting. The Board has fixed August 20, 2021 as the record date and the Register of Members and Share Transfer books of the Company will remain closed from August 21, 2021 to August 31, 2021 (both days inclusive) for the purpose of the Annual General Meeting & Final Dividend, if approved by the Members. Is New 90 Day High Low • Feb 23
New 90-day high: ₹1,300 The company is up 25% from its price of ₹1,042 on 25 November 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹368 per share. Price Target Changed • Feb 01
Price target raised to ₹1,281 Up from ₹1,007, the current price target is an average from 3 analysts. The new target price is 7.9% above the current share price of ₹1,187. As of last close, the stock is down 7.2% over the past year. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS ₹8.62 (vs ₹6.85 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ₹6.59b (up 18% from 3Q 2020). Net income: ₹780.4m (up 26% from 3Q 2020). Profit margin: 12% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Is New 90 Day High Low • Jan 29
New 90-day high: ₹1,188 The company is up 17% from its price of ₹1,012 on 30 October 2020. The Indian market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹475 per share. Annonce • Jan 21
Solar Industries India Limited to Report Q3, 2021 Results on Jan 29, 2021 Solar Industries India Limited announced that they will report Q3, 2021 results on Jan 29, 2021 