04-Nov-2026 08:30:45

GOLDMAN SACHS ON SOLAR INDUSTRIES ; BUY | TARGET ₹26,550

• Management confident of surpassing FY27 revenue guidance of ₹14,000 Cr, driven by defence and exports. • Defence order backlog stands at nearly ₹17,600 Cr, providing strong revenue visibility. • Planned capex of ₹12,000 Cr to support future capacity expansion. • International business and commercial explosives expected to drive additional growth. • Volatility in ammonium nitrate prices remains a key risk.

SOLAR INDUSTRIES (I) LTD

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