Solar Industries Q1 profit jumps 93% to Rs 653 crore; Nuvama raises target price to Rs 23,435
AI Market Summary
Solar Industries reported a strong Q1 beat with sharp YoY growth in profit, revenue and EBITDA margin expansion, supported by broad-based execution and a sizable defense-heavy order backlog. Multiple brokerages raised estimates and targets, though valuation remains debated with at least one major sell view. As this is single-name Indian equity news not mapped to the provided assets, broader market impact should be limited.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.85%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Solar Industries reported a 93% year-on-year rise in Q1 net profit to Rs 653 crore, beating the Bloomberg Consensus estimate of Rs 519 crore. Revenue increased 71% to Rs 3,670 crore, ahead of the Rs 2,995 crore estimate. EBITDA climbed 82% to Rs 1,024 crore and margin widened 290 basis points to 27.7%, pointing to stronger operating leverage across segments. After the results, Nuvama lifted its target price to Rs 23,435 from Rs 20,000, implying over 15% upside, and kept a buy rating.
