Nagpur-based industrial explosives manufacturer for your Portfolio | Indian Stocks to Make You a Millionaire
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Nagpur-based industrial explosives manufacturer for your Portfolio

Posted By On 1:03 PM Under
1. One of the reliable stocks which has been outperforming the Sensex for past one year and deserve your attention is Solar Explosives’ which is going to get immensely benefitted with recent 3 year contract with Coal India which will will boost its growth. It is a Nagpur-based industrial explosives manufacturer and  it derives over half of its annual turnover from Coal India.  SEL by virtue of this contract has been able to cater for inflation and thus will cater to nearly 18% of Coal India’s explosives requirements annually. Moreover SEL is India’s largest explosives manufacturer with over 20% market share. SEL is also  increasing its exports business and  has exported products worth nearly Rs 40 crore in H1 FY09, against Rs 24 crore in entire FY08. Moreover its venture  Nigerian plant will begin production by March ’09.


2. To cut the long story short it has attractive valuation and it is trading at a P/E multiple of 11.8 and it has bravely faced the economic turmoil as equity has lost only 38% of its value over the past one year, against a 53% decline in the Sensex.

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