Solar Industries India Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 7, 2025, 3:25 pm

Market Cap	85,722 Cr.
Current Price	9,473
High / Low	13,300/7,256
Stock P/E	76.4
Book Value	419
Dividend Yield	0.09 %
ROCE	32.5 %
ROE	30.9 %
Face Value	2.00
PEG Ratio	2.36

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Solar Industries India Ltd

Competitors of Solar Industries India Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Premier Explosives Ltd	1,916 Cr.	356	909/263	60.8	43.8	0.14 %	18.0 %	13.5 %	2.00
GOCL Corporation Ltd	1,481 Cr.	299	517/266	9.79	291	1.34 %	7.29 %	3.43 %	2.00
Solar Industries India Ltd	85,722 Cr.	9,473	13,300/7,256	76.4	419	0.09 %	32.5 %	30.9 %	2.00
Industry Average	29,706.33 Cr	3,376.00		49.00	251.27	0.52%	19.26%	15.94%	2.00

All Competitor Stocks of Solar Industries India Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	1,018	1,317	1,616	1,567	1,812	1,929	1,682	1,347	1,429	1,611	1,685	1,716	1,973
Expenses	840	1,054	1,333	1,268	1,462	1,571	1,359	1,012	1,074	1,257	1,235	1,271	1,447
Operating Profit	178	263	283	299	350	357	323	335	355	354	449	445	527
OPM %	17%	20%	18%	19%	19%	19%	19%	25%	25%	22%	27%	26%	27%
Other Income	7	1	9	4	7	11	8	8	11	20	26	36	10
Interest	13	15	14	19	25	31	25	25	28	32	27	30	31
Depreciation	27	30	31	30	32	35	34	34	39	37	40	44	47
Profit before tax	144	219	247	254	299	302	272	285	299	305	408	407	459
Tax %	27%	20%	26%	26%	27%	27%	26%	27%	26%	21%	26%	25%	26%
Net Profit	105	175	183	189	219	221	202	209	222	243	301	304	338
EPS in Rs	11.28	18.55	18.81	19.49	22.61	22.78	21.82	22.12	22.47	25.98	31.66	31.59	34.80

Last Updated: March 3, 2025, 5:50 pm

Below is a detailed analysis of the quarterly data for Solar Industries India Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹1,973.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,716.00 Cr. (Sep 2024) to ₹1,973.00 Cr., marking an increase of ₹257.00 Cr..
For Expenses, as of Dec 2024, the value is ₹1,447.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,271.00 Cr. (Sep 2024) to ₹1,447.00 Cr., marking an increase of ₹176.00 Cr..
For Operating Profit, as of Dec 2024, the value is ₹527.00 Cr.. The value appears strong and on an upward trend. It has increased from 445.00 Cr. (Sep 2024) to ₹527.00 Cr., marking an increase of ₹82.00 Cr..
For OPM %, as of Dec 2024, the value is 27.00%. The value appears strong and on an upward trend. It has increased from 26.00% (Sep 2024) to 27.00%, marking an increase of 1.00%.
For Other Income, as of Dec 2024, the value is ₹10.00 Cr.. The value appears to be declining and may need further review. It has decreased from 36.00 Cr. (Sep 2024) to ₹10.00 Cr., marking a decrease of 26.00 Cr..
For Interest, as of Dec 2024, the value is ₹31.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 30.00 Cr. (Sep 2024) to ₹31.00 Cr., marking an increase of ₹1.00 Cr..
For Depreciation, as of Dec 2024, the value is ₹47.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 44.00 Cr. (Sep 2024) to ₹47.00 Cr., marking an increase of ₹3.00 Cr..
For Profit before tax, as of Dec 2024, the value is ₹459.00 Cr.. The value appears strong and on an upward trend. It has increased from 407.00 Cr. (Sep 2024) to ₹459.00 Cr., marking an increase of ₹52.00 Cr..
For Tax %, as of Dec 2024, the value is 26.00%. The value appears to be increasing, which may not be favorable. It has increased from 25.00% (Sep 2024) to 26.00%, marking an increase of 1.00%.
For Net Profit, as of Dec 2024, the value is ₹338.00 Cr.. The value appears strong and on an upward trend. It has increased from 304.00 Cr. (Sep 2024) to ₹338.00 Cr., marking an increase of ₹34.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 34.80. The value appears strong and on an upward trend. It has increased from ₹31.59 (Sep 2024) to 34.80, marking an increase of ₹3.21.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 7, 2025, 9:27 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	1,053	1,073	1,276	1,449	1,580	1,916	2,462	2,237	2,516	3,948	6,918	6,070	6,984
Expenses	870	868	1,022	1,144	1,256	1,505	1,960	1,803	2,001	3,199	5,582	4,588	5,210
Operating Profit	183	205	254	304	324	412	502	434	515	748	1,336	1,482	1,774
OPM %	17%	19%	20%	21%	20%	21%	20%	19%	20%	19%	19%	24%	25%
Other Income	4	1	-2	13	13	12	9	41	21	19	-16	-68	93
Interest	18	20	18	20	27	33	50	55	45	50	90	109	119
Depreciation	17	22	31	33	39	51	59	85	94	109	128	143	168
Profit before tax	152	164	203	264	271	340	402	336	397	607	1,102	1,161	1,580
Tax %	17%	21%	23%	33%	28%	31%	31%	17%	27%	25%	26%	25%
Net Profit	126	130	156	178	195	234	277	279	288	455	811	875	1,185
EPS in Rs	12.85	13.09	16.29	18.08	20.61	24.37	28.91	29.55	30.54	48.77	83.68	92.38	124.03
Dividend Payout %	17%	-0%	21%	25%	24%	25%	24%	20%	20%	15%	10%	9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	3.17%	20.00%	14.10%	9.55%	20.00%	18.38%	0.72%	3.23%	57.99%	78.24%	7.89%
Change in YoY Net Profit Growth (%)	0.00%	16.83%	-5.90%	-4.55%	10.45%	-1.62%	-17.65%	2.50%	54.76%	20.26%	-70.35%

Solar Industries India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	19%
5 Years:	20%
3 Years:	34%
TTM:	9%

Compounded Profit Growth
10 Years:	22%
5 Years:	28%
3 Years:	49%
TTM:	39%

Stock Price CAGR
10 Years:	30%
5 Years:	54%
3 Years:	58%
1 Year:	26%

Return on Equity
10 Years:	26%
5 Years:	28%
3 Years:	31%
Last Year:	31%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:49 am

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	18	18	18	18	18	18	18	18	18	18	18	18	18
Reserves	555	643	758	787	910	1,066	1,220	1,362	1,561	1,896	2,592	3,288	3,776
Borrowings	372	484	371	398	501	518	603	708	808	888	1,195	1,138	1,198
Other Liabilities	163	207	243	309	292	387	411	393	572	827	1,104	1,134	1,685
Total Liabilities	1,108	1,352	1,389	1,512	1,722	1,988	2,253	2,481	2,959	3,629	4,909	5,577	6,678
Fixed Assets	372	491	585	703	777	923	1,043	1,209	1,288	1,493	1,702	2,028	2,336
CWIP	61	81	61	30	91	107	178	165	293	230	282	490	560
Investments	49	25	37	40	53	17	33	2	1	18	99	370	192
Other Assets	626	755	706	739	801	940	1,000	1,105	1,378	1,888	2,826	2,690	3,589
Total Assets	1,108	1,352	1,389	1,512	1,722	1,988	2,253	2,481	2,959	3,629	4,909	5,577	6,678

Below is a detailed analysis of the balance sheet data for Solar Industries India Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹18.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹18.00 Cr..
For Reserves, as of Sep 2024, the value is ₹3,776.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹3,288.00 Cr. (Mar 2024) to ₹3,776.00 Cr., marking an increase of 488.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹1,198.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from ₹1,138.00 Cr. (Mar 2024) to ₹1,198.00 Cr., marking an increase of 60.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹1,685.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹1,134.00 Cr. (Mar 2024) to ₹1,685.00 Cr., marking an increase of 551.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹6,678.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from ₹5,577.00 Cr. (Mar 2024) to ₹6,678.00 Cr., marking an increase of 1,101.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹2,336.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹2,028.00 Cr. (Mar 2024) to ₹2,336.00 Cr., marking an increase of 308.00 Cr..
For CWIP, as of Sep 2024, the value is ₹560.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹490.00 Cr. (Mar 2024) to ₹560.00 Cr., marking an increase of 70.00 Cr..
For Investments, as of Sep 2024, the value is ₹192.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹370.00 Cr. (Mar 2024) to ₹192.00 Cr., marking a decrease of 178.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹3,589.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹2,690.00 Cr. (Mar 2024) to ₹3,589.00 Cr., marking an increase of 899.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹6,678.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹5,577.00 Cr. (Mar 2024) to ₹6,678.00 Cr., marking an increase of 1,101.00 Cr..

Notably, the Reserves (₹3,776.00 Cr.) exceed the Borrowings (1,198.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	113	170	230	243	118	254	314	325	357	298	656	1,406
Cash from Investing Activity +	-155	-161	-149	-141	-170	-174	-254	-260	-253	-338	-614	-1,021
Cash from Financing Activity +	72	31	-177	-92	53	-53	-52	-34	-26	-45	118	-370
Net Cash Flow	29	41	-96	11	0	27	9	32	77	-85	160	15

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-189.00	-279.00	-117.00	-94.00	-177.00	-106.00	-101.00	-274.00	-293.00	-140.00	0.00	0.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	54	63	55	68	74	69	59	60	66	50	44	51
Inventory Days	81	94	83	67	73	80	74	99	119	113	92	97
Days Payable	14	24	31	45	36	49	43	46	78	73	41	63
Cash Conversion Cycle	121	134	106	90	111	100	90	113	108	90	95	84
Working Capital Days	107	114	100	86	87	76	64	80	61	81	68	71
ROCE %	21%	18%	19%	23%	22%	24%	26%	19%	19%	25%	36%	32%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%
FIIs	5.81%	6.37%	6.28%	6.63%	6.64%	6.72%	6.63%	5.79%	5.89%	5.90%	6.10%	7.56%
DIIs	16.19%	15.43%	15.16%	14.73%	14.60%	14.45%	14.32%	15.01%	15.24%	15.05%	14.52%	12.74%
Public	4.85%	5.05%	5.41%	5.50%	5.61%	5.67%	5.91%	6.04%	5.71%	5.88%	6.22%	6.54%
No. of Shareholders	25,070	33,496	28,759	31,872	39,404	49,247	51,943	51,199	50,103	57,926	64,377	72,853

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI Equity Hybrid Fund	2,778,656	3.89	2784.44	236,523	2025-03-06	1074.79%
SBI Focused Equity Fund	1,527,190	4.37	1530.37	236,523	2025-03-06	545.68%
HDFC Mid-Cap Opportunities Fund - Regular Plan	1,279,548	1.82	1282.21	236,523	2025-03-06	440.98%
Kotak Emerging Equity Fund - Regular Plan	1,146,237	2.34	1148.62	236,523	2025-03-06	384.62%
Kotak Flexicap Fund - Regular Plan	1,000,000	1.96	1002.08	236,523	2025-03-06	322.79%
Axis Midcap Fund	350,469	1.17	351.2	236,523	2025-03-06	48.18%
Kotak Small Cap Fund - Regular Plan	238,715	1.43	239.21	236,523	2025-03-06	0.93%
PGIM India Midcap Opportunities Fund	236,523	2.14	237.02	236,523	2025-03-06	0%
Edelweiss Mid Cap Fund	169,704	2.57	170.06	236,523	2025-03-06	-28.25%
Kotak Balanced Advantage Fund	147,883	0.91	148.19	236,523	2025-03-06	-37.48%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	92.38	83.68	48.77	30.54	29.55
Diluted EPS (Rs.)	92.38	83.68	48.77	30.54	29.55
Cash EPS (Rs.)	112.51	103.83	114.79	42.17	40.13
Book Value[Excl.RevalReserv]/Share (Rs.)	378.70	303.94	222.64	181.45	158.19
Book Value[Incl.RevalReserv]/Share (Rs.)	378.70	303.94	222.64	181.45	158.19
Revenue From Operations / Share (Rs.)	670.66	764.92	436.20	277.97	247.22
PBDIT / Share (Rs.)	156.21	145.90	143.65	59.23	52.53
PBIT / Share (Rs.)	140.36	131.74	79.19	48.89	43.19
PBT / Share (Rs.)	128.28	121.75	67.12	43.88	37.10
Net Profit / Share (Rs.)	96.67	89.66	50.33	31.83	30.79
NP After MI And SOA / Share (Rs.)	92.37	83.67	48.76	30.54	29.55
PBDIT Margin (%)	23.29	19.07	32.93	21.30	21.24
PBIT Margin (%)	20.92	17.22	18.15	17.58	17.46
PBT Margin (%)	19.12	15.91	15.38	15.78	15.00
Net Profit Margin (%)	14.41	11.72	11.53	11.45	12.45
NP After MI And SOA Margin (%)	13.77	10.93	11.17	10.98	11.95
Return on Networth / Equity (%)	25.28	29.00	23.05	17.49	19.37
Return on Capital Employeed (%)	29.98	35.02	27.49	20.01	21.71
Return On Assets (%)	14.57	15.03	11.84	9.12	10.56
Long Term Debt / Equity (X)	0.17	0.18	0.22	0.27	0.18
Total Debt / Equity (X)	0.33	0.44	0.45	0.39	0.44
Asset Turnover Ratio (%)	1.13	1.58	1.00	0.76	0.82
Current Ratio (X)	1.76	1.53	1.49	1.50	1.34
Quick Ratio (X)	1.20	0.85	0.84	0.95	0.89
Inventory Turnover Ratio (X)	2.79	4.20	4.61	3.88	4.55
Dividend Payout Ratio (NP) (%)	8.65	8.96	12.30	19.64	23.68
Dividend Payout Ratio (CP) (%)	7.39	7.66	5.29	14.67	17.99
Earning Retention Ratio (%)	91.35	91.04	87.70	80.36	76.32
Cash Earning Retention Ratio (%)	92.61	92.34	94.71	85.33	82.01
Interest Coverage Ratio (X)	12.93	14.61	11.90	11.81	8.64
Interest Coverage Ratio (Post Tax) (X)	9.00	9.98	5.17	7.35	6.06
Enterprise Value (Cr.)	80453.11	34676.59	26241.02	12075.53	8774.78
EV / Net Operating Revenue (X)	13.26	5.01	6.65	4.80	3.92
EV / EBITDA (X)	56.91	26.26	20.18	22.53	18.46
MarketCap / Net Operating Revenue (X)	13.10	4.86	6.43	4.60	3.68
Retention Ratios (%)	91.34	91.03	87.69	80.35	76.31
Price / BV (X)	24.05	12.88	13.25	7.32	5.97
Price / Net Operating Revenue (X)	13.10	4.86	6.43	4.60	3.68
EarningsYield	0.01	0.02	0.01	0.02	0.03

After reviewing the key financial ratios for Solar Industries India Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 24, the value is 92.38. This value is within the healthy range. It has increased from 83.68 (Mar 23) to 92.38, marking an increase of 8.70.
For Diluted EPS (Rs.), as of Mar 24, the value is 92.38. This value is within the healthy range. It has increased from 83.68 (Mar 23) to 92.38, marking an increase of 8.70.
For Cash EPS (Rs.), as of Mar 24, the value is 112.51. This value is within the healthy range. It has increased from 103.83 (Mar 23) to 112.51, marking an increase of 8.68.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 378.70. It has increased from 303.94 (Mar 23) to 378.70, marking an increase of 74.76.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 378.70. It has increased from 303.94 (Mar 23) to 378.70, marking an increase of 74.76.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 670.66. It has decreased from 764.92 (Mar 23) to 670.66, marking a decrease of 94.26.
For PBDIT / Share (Rs.), as of Mar 24, the value is 156.21. This value is within the healthy range. It has increased from 145.90 (Mar 23) to 156.21, marking an increase of 10.31.
For PBIT / Share (Rs.), as of Mar 24, the value is 140.36. This value is within the healthy range. It has increased from 131.74 (Mar 23) to 140.36, marking an increase of 8.62.
For PBT / Share (Rs.), as of Mar 24, the value is 128.28. This value is within the healthy range. It has increased from 121.75 (Mar 23) to 128.28, marking an increase of 6.53.
For Net Profit / Share (Rs.), as of Mar 24, the value is 96.67. This value is within the healthy range. It has increased from 89.66 (Mar 23) to 96.67, marking an increase of 7.01.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 92.37. This value is within the healthy range. It has increased from 83.67 (Mar 23) to 92.37, marking an increase of 8.70.
For PBDIT Margin (%), as of Mar 24, the value is 23.29. This value is within the healthy range. It has increased from 19.07 (Mar 23) to 23.29, marking an increase of 4.22.
For PBIT Margin (%), as of Mar 24, the value is 20.92. This value exceeds the healthy maximum of 20. It has increased from 17.22 (Mar 23) to 20.92, marking an increase of 3.70.
For PBT Margin (%), as of Mar 24, the value is 19.12. This value is within the healthy range. It has increased from 15.91 (Mar 23) to 19.12, marking an increase of 3.21.
For Net Profit Margin (%), as of Mar 24, the value is 14.41. This value exceeds the healthy maximum of 10. It has increased from 11.72 (Mar 23) to 14.41, marking an increase of 2.69.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 13.77. This value is within the healthy range. It has increased from 10.93 (Mar 23) to 13.77, marking an increase of 2.84.
For Return on Networth / Equity (%), as of Mar 24, the value is 25.28. This value is within the healthy range. It has decreased from 29.00 (Mar 23) to 25.28, marking a decrease of 3.72.
For Return on Capital Employeed (%), as of Mar 24, the value is 29.98. This value is within the healthy range. It has decreased from 35.02 (Mar 23) to 29.98, marking a decrease of 5.04.
For Return On Assets (%), as of Mar 24, the value is 14.57. This value is within the healthy range. It has decreased from 15.03 (Mar 23) to 14.57, marking a decrease of 0.46.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.17. This value is below the healthy minimum of 0.2. It has decreased from 0.18 (Mar 23) to 0.17, marking a decrease of 0.01.
For Total Debt / Equity (X), as of Mar 24, the value is 0.33. This value is within the healthy range. It has decreased from 0.44 (Mar 23) to 0.33, marking a decrease of 0.11.
For Asset Turnover Ratio (%), as of Mar 24, the value is 1.13. It has decreased from 1.58 (Mar 23) to 1.13, marking a decrease of 0.45.
For Current Ratio (X), as of Mar 24, the value is 1.76. This value is within the healthy range. It has increased from 1.53 (Mar 23) to 1.76, marking an increase of 0.23.
For Quick Ratio (X), as of Mar 24, the value is 1.20. This value is within the healthy range. It has increased from 0.85 (Mar 23) to 1.20, marking an increase of 0.35.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.79. This value is below the healthy minimum of 4. It has decreased from 4.20 (Mar 23) to 2.79, marking a decrease of 1.41.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 8.65. This value is below the healthy minimum of 20. It has decreased from 8.96 (Mar 23) to 8.65, marking a decrease of 0.31.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 7.39. This value is below the healthy minimum of 20. It has decreased from 7.66 (Mar 23) to 7.39, marking a decrease of 0.27.
For Earning Retention Ratio (%), as of Mar 24, the value is 91.35. This value exceeds the healthy maximum of 70. It has increased from 91.04 (Mar 23) to 91.35, marking an increase of 0.31.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 92.61. This value exceeds the healthy maximum of 70. It has increased from 92.34 (Mar 23) to 92.61, marking an increase of 0.27.
For Interest Coverage Ratio (X), as of Mar 24, the value is 12.93. This value is within the healthy range. It has decreased from 14.61 (Mar 23) to 12.93, marking a decrease of 1.68.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 9.00. This value is within the healthy range. It has decreased from 9.98 (Mar 23) to 9.00, marking a decrease of 0.98.
For Enterprise Value (Cr.), as of Mar 24, the value is 80,453.11. It has increased from 34,676.59 (Mar 23) to 80,453.11, marking an increase of 45,776.52.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 13.26. This value exceeds the healthy maximum of 3. It has increased from 5.01 (Mar 23) to 13.26, marking an increase of 8.25.
For EV / EBITDA (X), as of Mar 24, the value is 56.91. This value exceeds the healthy maximum of 15. It has increased from 26.26 (Mar 23) to 56.91, marking an increase of 30.65.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 13.10. This value exceeds the healthy maximum of 3. It has increased from 4.86 (Mar 23) to 13.10, marking an increase of 8.24.
For Retention Ratios (%), as of Mar 24, the value is 91.34. This value exceeds the healthy maximum of 70. It has increased from 91.03 (Mar 23) to 91.34, marking an increase of 0.31.
For Price / BV (X), as of Mar 24, the value is 24.05. This value exceeds the healthy maximum of 3. It has increased from 12.88 (Mar 23) to 24.05, marking an increase of 11.17.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 13.10. This value exceeds the healthy maximum of 3. It has increased from 4.86 (Mar 23) to 13.10, marking an increase of 8.24.
For EarningsYield, as of Mar 24, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.02 (Mar 23) to 0.01, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Solar Industries India Ltd as of March 9, 2025 is: ₹7,920.39

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 9, 2025, Solar Industries India Ltd is Overvalued by 16.39% compared to the current share price 9,473.00

Intrinsic Value of Solar Industries India Ltd as of March 9, 2025 is: 10,482.82

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 9, 2025, Solar Industries India Ltd is Undervalued by 10.66% compared to the current share price 9,473.00

Last 5 Year EPS CAGR: 32.35%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 23.67%, which is a positive sign. The company has higher reserves (1,570.31 cr) compared to borrowings (706.31 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.54 cr) and profit (241.46 cr) over the years.	The stock has a high average Working Capital Days of 82.92, which may not be favorable. The stock has a high average Cash Conversion Cycle of 103.50, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Solar Industries India Ltd:
1. Net Profit Margin: 14.41%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 29.98% (Industry Average ROCE: 19.26%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 25.28% (Industry Average ROE: 15.94%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 9
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.2
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 76.4 (Industry average Stock P/E: 49)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.33
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Solar Industries India Ltd. is a Public Limited Listed company incorporated on 24/02/1995 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L74999MH1995PLC085878 and registration number is 085878. Currently Company is involved in the business activities of Manufacture of explosives, ammunition and fire works. Company's Total Operating Revenue is Rs. 3717.52 Cr. and Equity Capital is Rs. 18.10 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Industrial Explosives	Solar House, 14, Kachimet, Nagpur Maharashtra 440023	solar@solargroup.com http://www.solargroup.com

Management
Name	Position Held
Mr. Satyanarayan Nuwal	Chairman & Non-Exe.Director
Mr. Manish Nuwal	Managing Director & CEO
Mr. Suresh Menon	Executive Director
Mr. Milind Deshmukh	Executive Director
Mr. Natrajan Ramkrishna	Ind. Non-Executive Director
Mr. Jagdish Chandra Belwal	Ind. Non-Executive Director
Mrs. Rashmi Prasad	Ind. Non-Executive Director
Mr. Dinesh Kumar Batra	Ind. Non-Executive Director

FAQ

What is the latest intrinsic value of Solar Industries India Ltd?

The latest intrinsic value of Solar Industries India Ltd as on 08 March 2025 is ₹7920.39, which is 16.39% lower than the current market price of 9,473.00, indicating the stock is overvalued by 16.39%. The intrinsic value of Solar Industries India Ltd is calculated using PE ratio method. The stock has a market capitalization of ₹85,722 Cr. and recorded a high/low of ₹13,300/7,256 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹3,776 Cr and total liabilities of ₹6,678 Cr.

What is the Market Cap of Solar Industries India Ltd?

The Market Cap of Solar Industries India Ltd is 85,722 Cr..

What is the current Stock Price of Solar Industries India Ltd as on 08 March 2025?

The current stock price of Solar Industries India Ltd as on 08 March 2025 is ₹9,473.

What is the High / Low of Solar Industries India Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Solar Industries India Ltd stocks is ₹13,300/7,256.

What is the Stock P/E of Solar Industries India Ltd?

The Stock P/E of Solar Industries India Ltd is 76.4.

What is the Book Value of Solar Industries India Ltd?

The Book Value of Solar Industries India Ltd is 419.

What is the Dividend Yield of Solar Industries India Ltd?

The Dividend Yield of Solar Industries India Ltd is 0.09 %.

What is the ROCE of Solar Industries India Ltd?

The ROCE of Solar Industries India Ltd is 32.5 %.

What is the ROE of Solar Industries India Ltd?

The ROE of Solar Industries India Ltd is 30.9 %.

What is the Face Value of Solar Industries India Ltd?

The Face Value of Solar Industries India Ltd is 2.00.