{"id":24463,"date":"2022-07-15T15:20:09","date_gmt":"2022-07-15T09:50:09","guid":{"rendered":"https:\/\/www.fundsindia.com\/blog\/?p=24463"},"modified":"2022-07-15T15:31:31","modified_gmt":"2022-07-15T10:01:31","slug":"alpha-solar-industries-india-ltd-equity-research-desk-2","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463","title":{"rendered":"Alpha | Solar Industries India Ltd. &#8211; Equity Research Desk"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/FI_Alpha-SolarIndustriesIndiaLtd.pdf\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" width=\"983\" height=\"467\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3.png\" alt=\"\" class=\"wp-image-24465\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3.png 983w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3-300x143.png 300w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3-768x365.png 768w\" sizes=\"(max-width: 983px) 100vw, 983px\" \/><\/a><\/figure>\n\n\n\n<h2><strong>Solar Industries India Ltd. \u2013 Explosive Stock<\/strong><\/h2>\n\n\n\n<p>Established in 1995, Solar Industries India Ltd. (SIL) is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world\u2019s largest manufacturing facility for packaged explosives. The company has more than 25 years of excellence in the field of Explosives.<\/p>\n\n\n\n<p>With a licensed explosives capacity of over 300,000 MT\/annum, the company has ~28% market share in India. Solar, with a 70% market share in exports from India, exports to 65 countries around the world with 34 manufacturing facilities worldwide. <\/p>\n\n\n\n<p>Economic Explosives, a 100% subsidiary, manufactures detonators. Apart from India, the company has a global manufacturing presence in 6 countries namely Nigeria, Zambia, South Africa, Turkey, Ghana, and Australia. <\/p>\n\n\n\n<h2><strong>Valuation:<\/strong><\/h2>\n\n\n\n<p>SIL has been one of the consistent compounders in the Indian explosives\u2019 basket. Its earnings grew at 16% CAGR during FY12-22 and the momentum is expected to continue given the strong inherent growth catalysts of the business moat, leadership position, rising opportunities in defence sector, geographical expansion &amp; higher margin profile. We recommend a BUY rating in the stock with the target price (TP) of Rs.3160, 50x FY24E EPS.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/FI_Alpha-SolarIndustriesIndiaLtd.pdf\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" width=\"534\" height=\"66\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/06\/button_click-here-for-the-research-report.png\" alt=\"\" class=\"wp-image-23892\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/06\/button_click-here-for-the-research-report.png 534w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/06\/button_click-here-for-the-research-report-300x37.png 300w\" sizes=\"(max-width: 534px) 100vw, 534px\" \/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solar Industries India Ltd. \u2013 Explosive Stock Established in 1995, Solar Industries India Ltd. (SIL) is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world\u2019s largest manufacturing facility for packaged explosives. The company has more than 25 years of excellence in the field of Explosives. With a licensed [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":24465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[743,59],"tags":[744,108,746,517,745,772,522,272],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alpha | Solar Industries India Ltd. - Equity Research Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alpha | Solar Industries India Ltd. - Equity Research Desk\" \/>\n<meta property=\"og:description\" content=\"Solar Industries India Ltd. \u2013 Explosive Stock Established in 1995, Solar Industries India Ltd. (SIL) is the largest manufacturer of industrial explosives and explosive initiating systems in India and has the world\u2019s largest manufacturing facility for packaged explosives. The company has more than 25 years of excellence in the field of Explosives. With a licensed [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463\" \/>\n<meta property=\"og:site_name\" content=\"Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundsindia\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-15T09:50:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-15T10:01:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"983\" \/>\n\t<meta property=\"og:image:height\" content=\"467\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Equities Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\",\"name\":\"Wealth India Financial Services\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/fundsindia\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg\",\"contentUrl\":\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg\",\"width\":189,\"height\":200,\"caption\":\"Wealth India Financial Services\"},\"image\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#website\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/\",\"name\":\"Insights\",\"description\":\"Official blog of FundsIndia.com\",\"publisher\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fundsindia.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3.png\",\"contentUrl\":\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/07\/Alpha-New-3.png\",\"width\":983,\"height\":467},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463#webpage\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463\",\"name\":\"Alpha | Solar Industries India Ltd. - Equity Research Desk\",\"isPartOf\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463#primaryimage\"},\"datePublished\":\"2022-07-15T09:50:09+00:00\",\"dateModified\":\"2022-07-15T10:01:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/equities\/alpha-solar-industries-india-ltd-equity-research-desk-2\/24463#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fundsindia.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alpha | Solar Industries India Ltd. &#8211; 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