BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Solar Industries India Ltd.’s share price is up ~35% in the last one month.
Although the management had given a strong outlook in Q1 FY22, the recovery seems to be faster than anticipated, thanks to the acute coal shortage in the country.
Recent order win of Rs 14.7 billion indicates that Coal India Ltd. is ramping up its production amid a severe coal shortage in power plants across the country.
This order is expected to be executed in the next two years, which indicates that revenue run-rate from Coal India for Solar Industries will more than double in the next two to three years.
In the last five years, average revenue from Coal India has been at Rs 3.8 billion.
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