Solar Industries Q4 Review - Well Set For A Prospective FY22: ICICI Securities

Air Bombs for defence and military application developed by Solar Industries India Ltd. (Source: Company website).

Solar Industries Q4 Review - Well Set For A Prospective FY22: ICICI Securities

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ICICI Securities Report

Domestic capital spending on roads infra, continue to add tailwinds to Solar Industries India Ltd.’s earnings.

Q4 FY21 witnessed ~47/50% QoQ/YoY increase in housing and infra revenues.

The strength of the segment also manifests in higher standalone margins, up ~ 350 basis points QoQ/YoY.

Change in stewardship has clearly not affected the ability to execute opportunities in the segment.

Overseas/exports grew 31% YoY for FY21, allowing an impressive consolidated revenue growth of 12% YoY in a pandemic year.

There are umpteen revenue and profitability triggers yet to be captured in the overseas business segment.

New capex plan for packaged explosives across three greenfield sites highlights future growth potential.

Click on the attachment to read the full report:

ICICI Securities Solar Industries Q4FY21 Result Update.pdf


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