Solar Industries India Ltd
Solar Industries is one of the worlds leading manufactures bulk explosives, packaged explosives and initiating systems, which find applications in the mining, infrastructure and construction industries.
SIL also ventured into the defense segment in 2010 and diversified into manufacturing of propellants for missiles and rockets, warheads and warhead explosives.
- Market Cap ₹ 34,373 Cr.
- Current Price ₹ 3,799
- High / Low ₹ 4,538 / 2,576
- Stock P/E 45.4
- Book Value ₹ 288
- Dividend Yield 0.21 %
- ROCE 36.1 %
- ROE 33.5 %
- Face Value ₹ 2.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 28.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.9%
Cons
- Stock is trading at 13.2 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
910 | 1,053 | 1,073 | 1,276 | 1,449 | 1,580 | 1,916 | 2,462 | 2,237 | 2,516 | 3,948 | 6,923 | |
739 | 870 | 868 | 1,022 | 1,144 | 1,256 | 1,505 | 1,960 | 1,803 | 2,001 | 3,199 | 5,634 | |
Operating Profit | 171 | 183 | 205 | 254 | 304 | 324 | 412 | 502 | 434 | 515 | 748 | 1,289 |
OPM % | 19% | 17% | 19% | 20% | 21% | 20% | 21% | 20% | 19% | 20% | 19% | 19% |
19 | 4 | 1 | -2 | 13 | 13 | 12 | 9 | 41 | 21 | 19 | 32 | |
Interest | 24 | 18 | 20 | 18 | 20 | 27 | 33 | 50 | 55 | 45 | 50 | 90 |
Depreciation | 13 | 17 | 22 | 31 | 33 | 39 | 51 | 59 | 85 | 94 | 109 | 128 |
Profit before tax | 154 | 152 | 164 | 203 | 264 | 271 | 340 | 402 | 336 | 397 | 607 | 1,102 |
Tax % | 28% | 17% | 21% | 23% | 33% | 28% | 31% | 31% | 17% | 27% | 25% | 26% |
Net Profit | 101 | 126 | 130 | 156 | 178 | 195 | 234 | 277 | 279 | 288 | 455 | 811 |
EPS in Rs | 11.69 | 12.85 | 13.09 | 16.29 | 18.08 | 20.61 | 24.37 | 28.91 | 29.55 | 30.54 | 48.77 | 83.68 |
Dividend Payout % | 17% | 17% | -0% | 21% | 25% | 24% | 25% | 24% | 20% | 20% | 15% | 10% |
Compounded Sales Growth | |
---|---|
10 Years: | 21% |
5 Years: | 29% |
3 Years: | 46% |
TTM: | 75% |
Compounded Profit Growth | |
---|---|
10 Years: | 20% |
5 Years: | 28% |
3 Years: | 41% |
TTM: | 71% |
Stock Price CAGR | |
---|---|
10 Years: | 36% |
5 Years: | 27% |
3 Years: | 63% |
1 Year: | 48% |
Return on Equity | |
---|---|
10 Years: | 24% |
5 Years: | 25% |
3 Years: | 27% |
Last Year: | 33% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
17 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | |
Reserves | 387 | 555 | 643 | 758 | 787 | 910 | 1,066 | 1,220 | 1,362 | 1,561 | 1,896 | 2,592 |
296 | 372 | 484 | 371 | 398 | 501 | 518 | 603 | 708 | 808 | 888 | 1,195 | |
198 | 163 | 207 | 243 | 309 | 292 | 387 | 411 | 393 | 572 | 827 | 1,231 | |
Total Liabilities | 899 | 1,108 | 1,352 | 1,389 | 1,512 | 1,722 | 1,988 | 2,253 | 2,481 | 2,959 | 3,629 | 5,036 |
288 | 372 | 491 | 585 | 703 | 777 | 923 | 1,043 | 1,209 | 1,288 | 1,493 | 1,704 | |
CWIP | 50 | 61 | 81 | 61 | 30 | 91 | 107 | 178 | 165 | 293 | 230 | 279 |
Investments | 11 | 49 | 25 | 37 | 40 | 53 | 17 | 33 | 2 | 1 | 18 | 99 |
550 | 626 | 755 | 706 | 739 | 801 | 940 | 1,000 | 1,105 | 1,378 | 1,888 | 2,954 | |
Total Assets | 899 | 1,108 | 1,352 | 1,389 | 1,512 | 1,722 | 1,988 | 2,253 | 2,481 | 2,959 | 3,629 | 5,036 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
48 | 113 | 170 | 230 | 243 | 118 | 254 | 314 | 325 | 357 | 298 | 656 | |
-141 | -155 | -161 | -149 | -141 | -170 | -174 | -254 | -260 | -253 | -338 | -519 | |
92 | 72 | 31 | -177 | -92 | 53 | -53 | -52 | -34 | -26 | -45 | 118 | |
Net Cash Flow | -1 | 29 | 41 | -96 | 11 | 0 | 27 | 9 | 32 | 77 | -85 | 256 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 56 | 54 | 63 | 55 | 68 | 74 | 69 | 59 | 60 | 66 | 50 | 44 |
Inventory Days | 88 | 81 | 94 | 83 | 67 | 73 | 80 | 74 | 99 | 119 | 113 | 92 |
Days Payable | 48 | 14 | 24 | 31 | 45 | 36 | 49 | 43 | 46 | 78 | 73 | 41 |
Cash Conversion Cycle | 96 | 121 | 134 | 106 | 90 | 111 | 100 | 90 | 113 | 108 | 90 | 95 |
Working Capital Days | 89 | 107 | 114 | 100 | 86 | 87 | 76 | 64 | 80 | 61 | 63 | 69 |
ROCE % | 31% | 22% | 19% | 20% | 24% | 22% | 24% | 26% | 20% | 20% | 25% | 36% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
24 May - Newspaper clippings - 'Twenty Eighth' Annual General Meeting, 'Information on E-voting' and Record date.
- Intimation of Repayment of Commercial Paper (CP) 19 May
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Compliances-Reg.24(A)-Annual Secretarial Compliance
9 May - Submission of Annual Secretarial Compliance Report for the FY 2022-23.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
8 May - Transcription of Conference Call with reference to the Audited Financial Results for the quarter and year ended March 31, 2023 and earnings for the FY …
- Intimation Of Book Closure Pursuant To Regulation 42 Of The SEBI (LODR) Regulations, 2015. 6 May
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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May 2023Transcript PPT REC
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Jan 2023Transcript PPT
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Nov 2022TranscriptNotesPPT
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Jul 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Jan 2022TranscriptNotesPPT
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Oct 2021TranscriptNotesPPT
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Aug 2021Transcript PPT
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Jun 2021Transcript PPT
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Jan 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Sep 2020TranscriptNotesPPT
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Jul 2020TranscriptNotesPPT
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Feb 2020Transcript PPT
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Feb 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Jul 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Jan 2019TranscriptNotesPPT
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Oct 2018TranscriptNotesPPT
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Aug 2018Transcript PPT
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Jul 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
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Feb 2017TranscriptNotesPPT
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Sep 2016TranscriptNotesPPT
Business segments
1. Industrial Explosives (76% of FY22 revenue)[1]
The explosives manufactured by the company is used by a wide range of segments from the Mining Industry to the Housing and Real estate industry and with its presence spread across 51+ nations.