SOLAR EXPLOSIVES LTD-IPO

ssue Opens: 09 March, 2006
Issue Closes: 13 March, 2006
Issue Size : 4,400,000(No. of Shares)

Lower Price Band : Rs.170
Upper Price Band : Rs.190

Application Multiple: 30 and in multiples there off starting with atleast 30 shares
Maximum Shares: 510 for retail investors

Information URL : http://www.solarexplosives.com
Prospectus URL : http://www.sebi.gov.in/dp/solardraftrhp.pdf

About the Company:

One of the largest manufacturers and suppliers of explosives and explosive accessories in India. Manufacturing facilities situated in and around Nagpur. It has one of the largest licensed capacity for Bulk Explosives and Cartridge Explosives. Client base comprises major public and private sector Companies like Coal India Limited, SAIL, Hindusthan Zinc etc.

Objectives of the Issue:

· To set up Support and Transport Plants for Bulk Explosives mainly in eastern India to cater to coal and iron ore mines in that region
· To set up unit overseas in Africa, for manufacture of Bulk Explosives, Cartridge Explosives and Magazine(Storage) facility.
· Fund requirement of Rs. 76.38 Crores to be met wholly through proceeds of IPO

Key Strengths
· Cost efficient manufacturing
· An ISO 9001:2000 accredited company; strong focus on quality
· Complete range of products
· Experienced management team
· Technical manpower
Consolidated Financials
(Rs. In Lacs)
2004-05 : April-Sep 2005
Total Income 8520 : 7236
PAT 880 : 1143.98
EPS 20.63 (mar 31, 2005)
PE at price of Rs. 190 is 9.2X
NAV per share (Rs.) 78.16 : 37.14*
RONW 30.05%