Buy Solar Industries India, target price Rs 13250: ICICI Securities

ICICI Securities has buy call on Solar Industries India with a target price of Rs 13250. The current market price of Solar Industries India is Rs 12119.
Solar Industries India Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 110128.66 Crore) operating in Chemicals sector.

Solar Industries India Ltd. key Products/Revenue Segments include Explosives (Industrial) and Other Operating Revenue for the year ending 31-Mar-2024.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 1628.36 Crore, up 13.08 % from last quarter Total Income of Rs 1440.05 Crore and down -16.06 % from last year same quarter Total Income of Rs 1939.88 Crore. Company reported net profit after tax of Rs 240.15 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 73.15 per cent stake in the company as of 31-Mar-2024, while FIIs owned 6.1 per cent, DIIs 14.52 per cent.