Domestic brokerage firm Motilal Oswal has initiated coverage on Solar Industries with a Buy rating and a target price of Rs 23,000 (24% upside), citing multiple growth levers in the years ahead. In today's session, the stock rose 3% to its day's high of Rs 19,775 apiece.
Motilal Oswal expects Solar Industries India (SOIL) to deliver a 43% CAGR in consolidated revenue and 34% CAGR in PAT over FY26-30. The brokerage expects growth in the industrial explosives segment to settle at mid-teens after FY28, while the defence segment is expected to sustain a higher growth rate.
