Solar Industries - Rating: Hold; Target Price: Rs1090 - Centrum

- We expect revenue to be higher by ~5.8% YoY on the back of higher realizations in explosives division (particularly in the cartridge segment). Overseas subsidiaries' revenue is expected to be at Rs500mn.

- EBITDA is expected to be higher by ~16% YoY at Rs518mn. We expect EBITDA margin of 17.6%.

- PAT is expected to be higher by ~10% YoY at Rs311mn.

Source : Equity Bulls

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