Hold Solar Industries India, target price Rs 1190: ICICI Securities

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Hold Solar Industries India, target price Rs 1190:  ICICI Securities


ICICI Securities has hold call on with a target price of Rs 1190. The current market price of Solar Industries India Ltd. is Rs 1244.4.

Solar Industries India Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 11266.01 Crore) operating in Chemicals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 645.85 Crore, up 9.98 % from last quarter Sales of Rs 587.25 Crore and up 15.10 % from last year same quarter Sales of Rs 561.10 Crore Company has reported net profit after tax of Rs 81.43 Crore in latest quarter.

Investment Rationale
A formidable recovery in Q3 coupled with better demand from user industries is expected to bode well for SIL in the medium term. However, valuations are still on the higher side.


Promoter/FII Holdings
Promoters held 73.2 per cent stake in the company as of June 30, 2020, while FIIs held 4.4 per cent, DIIs 17.6 per cent and public and others 4.8 per cent.





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