Shares of Solar Industries have given 145 percent return to investors in one year. In the last six months, investors have earned 35 percent profit from this stock. The company has achieved good profit growth of 27.80% in the last 3 years.
Solar Industries, a stock that has given 145 multi bagger returns in a year, is still thriving. In intraday, this stock jumped by five percent today and reached its new 52-week high of Rs. 9,499. After the excellent results of the fourth quarter, investor enthusiasm about this stock is high. The brokerage is also confident that this multi bagger share will generate more earnings. This is the reason why brokerage firm Nuvama has increased the target price of Solar Industries shares. At 3 pm this share was trading at Rs. 9375 on NSE with a rise of 4.44 percent.
Net profit of Solar Industries increased by 10 percent to Rs. 243 crore in the quarter ended March, which was Rs. 221 crore in the same quarter last year. However, the company’s sales have declined by 16 percent on an annual basis and have come down to Rs. 1611 crore from Rs. 1929 crore a year ago. Solar Industries’ defense segment recorded a robust growth of 75 per cent year-on-year and the firm’s management is confident of 3x growth in defense revenues in FY25. Gross margin increased by 1024 bps to 48.5 percent due to lower raw material costs.
Solar Industries Shares Target Price
Nuvama Institutional Equities has maintained its ‘Hold Call’ on Solar Industries shares. But, the brokerage increased its target price from Rs. 7056 per share to Rs. 9254 per share. This means that there is a possibility of an increase of about 4.2 percent in the stock from the previous closing price.
145 Percent Return by Solar Industries Shares
Shares of Solar Industries have given 145 percent return to investors in one year. So far in the year 2024, this stock has increased by 38 percent. In the last six months, investors have made 35 percent profit from this share, while in one month the price of this multi bagger share has strengthened by 10 percent.
73 Percent Stake of Promoters
The current market capitalization of Solar Industries is ₹ 84,010.97 crore. The promoters’ stake in the company is 73 percent. Domestic institutional investors hold 14.52 percent of Solar Industries while foreign institutional investors hold 6.1 percent. The company has achieved a good profit growth of 27.80% in the last 3 years. Similarly, the company’s revenue growth during this period has been 40.16%.
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