Archive · 29 Dec 2025
Antique Stock Broking Sees 32% Upside in Solar Industries
Antique Stock Broking, after meeting with Solar Industries India, thinks the company's stock is a good buy.
They believe the stock could go up by 32% to Rs 16,600.
The company makes things like explosives and defence materials.
They have a lot of orders, especially for defence products, and plan to grow a lot in the next few years.
The company is also expanding into new countries and expects to make more money from these new places.
Antique Stock Broking thinks Solar Industries is a good investment because it is a leader in its field and has strong growth plans.
Antique Stock Broking retained a 'Buy' rating on Solar Industries with a target price of Rs 16,600, suggesting a 32% upside.
The company's revenue guidance for FY26 is Rs 10,000 crore, with defence revenues expected to reach Rs 3,000 crore.
Solar Industries plans to achieve a revenue CAGR of 15% over the next 3-4 years, driven by overseas and defence businesses.
The defence order book stands at Rs 16,600 crore, with significant orders for Pinaka Mk1 rockets and expected incremental orders.
The company is expanding its overseas presence into new geographies like Zimbabwe, Kazakhstan, and Saudi Arabia.
- Who
- Antique Stock Broking and Solar Industries India
- What
- Antique Stock Broking retained a 'Buy' rating on Solar Industries with a target price of Rs 16,600, suggesting a 32% upside.
- When
- The assessment was based on current industry trends and a visit to the company’s facilities.
- Where
- The company’s explosives and defence facilities in Nagpur were visited.
- Why
- The company is expected to witness strong growth momentum across segments, with stable margins and robust defence and overseas businesses.
- Target Price
- Rs 16,600
- Current Price
- Rs 12,532
- Revenue Guidance
- Rs 10,000 crore for FY26
- Defence Order Book
- Rs 16,600 crore
- Defence Revenue Expected
- Rs 3,000 crore in FY26
- Revenue CAGR
- 15% over next 3-4 years
- Sales Growth (FY25-28)
- 28%
- Profit Growth (FY25-28)
- 31%