KRChoksey’s research report on Solar IndustriesSolar Industries Ltd’s (SOIL) revenue from operations decreased by 18.6% YoY (down 2.4% QoQ) to INR 547 Cr in 4QFY20. EBITDA declined 36.9% YoY (down 20.8% QoQ) to INR 90 Cr. EBITDA margin of 16.4% in 4QFY20 was down 476 bps YoY (down 381 bps QoQ). Net Profit declined 29.3% YoY (down 18.2% QoQ) to INR 53 Cr for the quarter. Net Profit Margin contracted 147bps YoY (down 188 bps QoQ) to 9.7% in 4QFY20 vs 11.2% in 4QFY19. Total order book stood at INR 1,304 Cr at the end of 4QFY20 (Coal India- INR 808 Cr, SCCL- INR 134 Cr, Defense- INR 362 Cr.) Executive Director and Vice Chairman of Solar Industries India, Mr. Kailash Chandra Nuwal, has vacated office of Director with effect from November 7, 2019 due to violation of Regulation 23 of the SEBI Regulations.OutlookHence, we have lowered our forward-looking estimates downward accordingly. We are now applying P/E multiple of 27.5x (earlier 30.0x) on FY22E EPS of INR 36.3/share (previously INR 40/share) to arrive at a revised target price of INR 998 per share, an upside potential of 4.3%. Accordingly, we maintain a “HOLD” rating on shares of Solar Industries.For all… Read full this story
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Hold Solar Industries; target of Rs 998 KRChoksey have 283 words, post on www.moneycontrol.com at August 9, 2020. This is cached page on CuBird. If you want remove this page, please contact us.