Motilal Oswal gives Solar Industries buy rating with ₹23,000 target
Business
Motilal Oswal just gave Solar Industries a buy rating with a target price of ₹23,000 per share.
The company's recent acquisition of Omnia Holdings has boosted its global presence, especially in South Africa, and provided strong support for the backward integration of ammonium nitrate.
Solar Industries diversifies into defense products
Solar Industries isn't just about explosives anymore. It's now making ammunition, rockets, and anti-drone tech.
With new products like Nagastra and Rudrastra in the pipeline, it expects defense to make up 22% of revenue by FY2029.
Motilal Oswal expects Solar Industries to deliver a CAGR of 43%/34% in consolidated revenue/PAT over FY26-30.