loader2
Login Open ICICI 3-in-1 Account
Open ICICI 3-in-1 Account

Solara Active Pharma Sciences Results: Latest Quarterly Results & Analysis

Open Free Trading Account Online with ICICIDIRECT
+91
Solara Active Pharma Sciences Ltd. 05 Nov 2025 14:50 PM
Result PDF

Q2FY26 Quarterly Result Announced for Solara Active Pharma Sciences Ltd.

Pharmaceuticals company Solara Active Pharma Sciences announced Q2FY26 results

  • Q2FY26 Revenue at Rs 3,140 million vs Rs 3,472 million in Q2FY25; down by 10% YoY.
  • Q2FY26 Gross Margin at Rs 1,599 million (51%) vs Rs 1,753 million (50.5%) in Q2FY25 and Rs 1,732 million (54.1%) in Q1FY26.
  • Operating Costs at Rs 1,246 million in Q1FY26 vs Rs 1,138 million in Q2FY25 and Rs 1,157 million in Q1FY26; increased by Rs 108 million YoY.
  • Q2FY26 EBITDA at Rs 352 million (11.3%) vs Rs 615 million (17.7%) in Q2FY25 and Rs 575 million (18%) in Q1FY26.
  • Gross Debt as on 30-Sep-25 at Rs 6,233 million vs Rs 7,760 million at end of FY25; reduced by Rs 1,527 million.

Sandeep Rao, MD & CEO, said: "We commenced FY26 with a clear objective: to pivot the business from a phase of reset to one characterized by sustainable, scalable, and reliable growth. Whilst our transformation journey remains intact, our financial performance during this quarter was primarily impacted by short-term disruptions arising from an unscheduled operational shutdown at Mangalore on account of facility upgradation resulting in delayed deliveries and reduced sales volumes during the quarter.

While these factors influenced current quarter results, they are transitory. The underlying fundamentals of the business remain strong, supported by a resilient operating model, robust compliance framework, and a diversified portfolio across key markets.

Regulated markets and a healthy product mix continue to be a hallmark of the business. We are also actively working to strengthen the balance sheet, aiming to reduce debt through a combination of rights issue and operating leverage, resulting in a lighter and healthier financial position."

Result PDF

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q1FY26 results

  • Q1FY26 Revenue at Rs 3,201 million vs Rs 3,641 million in Q1FY25; down by 12% YoY.
  • Q1FY26 Gross Margin at Rs 1,732 million (54.1%) vs Rs 1,622 million (44.5%) in Q1FY25 and Rs 1,605 million (57.5%) in Q4FY25, Significant improvement by 960 bps YoY.
  • Operating Costs at Rs 1,157 million in Q1FY26 vs Rs 1,200 million in Q1FY25 and Rs 1,095 million in Q4FY25; reduced by Rs 43 million YoY.
  • Q1FY26 EBITDA at Rs 575 million (18%) vs Rs 422 million (11.6%) in Q1FY25 and Rs 510 million (18.3%) in Q4FY25; Significant improvement by 639 bps YoY.
  • Gross Debt as on 30-Jun-25 at Rs 6,327 million vs Rs 7,760 million in FY25; reduced by Rs 1,433 million.
  • Q1FY26 PAT at Rs 105 million; Highest in the last 12 quarters.

Sandeep Rao, MD & CEO, said: We kickstarted our journey into FY26 with an objective of repivoting the business from Reset to a Sustainable, Scalable and Reliable Growth and I am glad to share that we have started this journey on the right note.

The Revenues have grown QoQ by ~15% with a healthy margin profile resulting in QoQ Margin growth of 8%. Although the Opex on a QoQ basis reflects a marginal increase with respect to the increased level of operations, the Business clocked EBITDA growth of ~13% on QoQ basis.

Regulated markets and a healthy product mix continue to be a consistent feature of the business.

We continue to work towards reducing our Debt through a combination of Rights issue and operating leverage resulting in a lighter and healthier balance sheet.

Solara has recorded the highest PAT in the last 12 quarters on account of EBITDA growth led by positive business outcomes and reduced finance cost.

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Q4 Revenues at Rs 2,790 million;
  • Q4 Gross Margin at Rs 1,605 million (57.5%);
  • Q4 EBITDA at Rs 510 million (18.3%);

FY25 Financial Highlights:

  • FY25 Revenues at Rs 12,921 million vs Rs 12,943 million in FY24; Flat YoY
  • FY25 Gross Margin at Rs 6,649 million (51.5%) vs Rs 4,891 million (37.8%) in FY24; improvement by 1,370 bps YoY
  • FY25 EBITDA at Rs 2,138 million (16.5%) vs. negative Rs 917 million (-7%) in FY24; significant improvement by 2,360 bps YoY

Sandeep Rao, MD & CEO stated: "FY25 was a Reset year for Solara. While we regrettably missed our guidance both on Revenues and EBITDA, we continued to focus on profitable high margin and high quality business which led to Gross Margin expansion from 37.8% in FY24 to 51.5% in FY25 and EBITDA margin expansion from -7.1% in FY24 to 16.5% in FY25.

The miss on the Revenue and EBITDA guidance is attributable to intense competition on the Ibuprofen range of products. We continued to do better than expected on the remainder of our portfolio.

Our product mix continues to be healthy with a majority of Revenues coming from the Regulated markets.

Going ahead, we will continue our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, optimizing working capital and debt as we pivot the organization from reset to growth."

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q3FY25 results

  • Gross Margins at 55%; at historical levels
  • Revenues at Rs 3,018 million; 21 % YoY
  • Muted QoQ Revenue growth with a strong focus on margin expansion
  • EBITDA margins at 19.6%, up by 180 bps QoQ and significant improvement YoY
  • Maintaining full year FY25 EBITDA guidance of ~Rs 2,300 to Rs 2,600 million

Poorvank Purohit, MD & CEO of the Company, remarked, “We are pleased with our Q3 performance. While our Revenues are muted for the quarter, our relentless focus on profitable growth resulted in Gross margins of 55.4% reaching the historical levels. This initiative includes letting go off certain non-profitable businesses which were bringing down our margin profile.

As an outcome of course correction measures, the Company is pleased to report an improved EBITDA margin of 19.6% inching closer towards the Q4 exit quarter guidance. Our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, enhancing R&D productivity, optimizing working capital and debt will continue to yield benefits.

Our Regulated market revenues continue to be at 76% of total revenues. We are confident in continuing the growth momentum and are on track to continuously improve the quality of our earnings while strengthening our balance sheet.”

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q2FY25 results

  • Solara reports Q2FY25 Revenue at Rs 3,472 million.
  • Gross margins at 50.5%; Significant improvement in Gross margins by 620 bps YoY and 600 bps QoQ returning to historical levels.
  • EBITDA at Rs 616 million; with a growth of 46% QoQ and 61% YoY.
  • Positive PAT at Rs 80 million.

Poorvank Purohit, MD & CEO of the Company, said: “We are pleased with the positive outcomes of the course correction measures which we had initiated for the Company. The stated plan to return to growth, enhance profitability and reduce debt has made significant headway. Our efforts on the course correction measures are leading to favourable outcomes resulting in significant margin expansion, in line with the management outlook. The Company reports a strong growth of 46% QoQ and 61% YoY on EBITDA with an improved EBITDA margin of 17.7%.

While our Revenues are down by 5% QoQ, our relentless focus on profitable growth resulted in Gross margins of 50.5%. Our Regulated market revenues continue to be at around 75% of total revenues. We are confident in continuing the growth momentum and are on track to continuously improving the quality of our earnings while strengthening our balance sheet.

Our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, enhancing R&D productivity, optimizing working capital and debt will continue to yield benefits in the coming quarters.

We reaffirm our FY25 outlook for Revenue of ~Rs 15,000 million & the full year EBITDA of ~Rs 2,300 to Rs 2,600 million & Q4FY25 exit quarter Revenue ~Rs 4,000 million & EBITDA of ~Rs 800 to Rs 900 million with EBITDA margins of 20-22%".

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q1FY25 results:

  • Solara reports an improved Q1FY25 performance with a Revenue of Rs 3,641 million with a growth of 21% QoQ and 3% YoY
  • Adjusted EBITDA at Rs 502 million with a growth of 33% QoQ and 151% YoY
  • Reported EBITDA at Rs 421 million with a growth of 276% QoQ and 111% YoY
  • Company reaffirms FY25 guidance of Revenue ~Rs 15,000 million & the full year EBITDA ~Rs 2,300 to 2,600 million with Q4FY25 exit quarter Revenue ~ Rs 4,000 million & EBITDA of ~Rs 800 to Rs 900 million (EBITDA margins of 20-22%)
  • During the quarter, Gross debt reduced from Rs 9,994 million to Rs 8,333 million; a reduction of Rs 1,661 million partly from the Rights issue and balance from Operations
  • Partly paid-up Rights issue was fully subscribed during the quarter
  • Company has strong focus on course correction measures including right sizing of inventory, free cash generation, cost optimization and improved gross margins.
  • Our Net Debt to EBITDA guidance is ~3 times by Q4FY25. The Company is confident of beating the Net Debt to EBITDA guidance.
  • Manish Gupta joins Solara Board as a Non-Executive Non-Independent Director

Commenting on the financial performance, Poorvank Purohit, MD & CEO of the Company, remarked, “We are pleased with the course correction measures initiated for the Company, leading to favorable outcomes for Q1 with much improved EBITDA margins. We see growth both on a QoQ and YoY basis.

The Company reports an improved performance in Q1FY25 with Q-o-Q Revenue growth of 21% and Reported EBITDA growth of 276%. Adjusted for the one-off costs which will not continue in H2’25, our Adjusted EBITDA stands at Rs 502 million with EBITDA margins of 13.8%. Our Regulated market revenues have reached its historical levels of around 75% of total revenues. Our Gross margins are slightly depressed but this is more on account of aggressive inventory reduction to improve our free cash generation and will normalize in H2’25.

While we report an improved Q1 performance, we are confident that our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, enhancing R&D productivity, optimizing working capital and debt will yield benefits in the coming quarters. Another important highlight for the quarter was our partly paid-up Rights issue which was fully subscribed during the quarter. Furthermore, during the quarter, we reduced our debt from Rs 9,994 million to Rs 8,333 million; a reduction of Rs 1,661 million.

We reaffirm our FY’25 guidance of Revenue of ~Rs 15,000 million & the full year EBITDA of ~Rs 2,300 to Rs 2,600 million & Q4FY25 exit quarter Revenue ~Rs 4,000 million & EBITDA of ~Rs 800 to Rs 900 million with EBITDA margins of 20-22%”

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q1FY24 results:

  • Q1FY24 Revenues at Rs 3,544 million up 5% YoY; Reported EBITDA at Rs 200 million up 11% YoY;
  • Gross margins at 45.5% in Q1FY24 versus 41.0% in Q1FY23; YoY Improvement in Gross margins by 445 bps
  • Reported EBITDA at Rs 200 million, EBITDA margins at 5.6%; YoY Improvement in EBITDA margins by 20 bps
  • Reduction in under-recoveries at Vizag

Commenting on the financial performance, Poorvank Purohit, MD & CEO of the Company, remarked, “We are delighted to start FY24 on a positive note, after having accomplished many of the goals we set for ourselves at the beginning of the previous year. Our current priorities are to stay focused and move forward from what we had achieved in the last fiscal year. We continue to work on our key strategic priorities, which included resetting and concentrating the base business, restoring R&D velocity, addressing under-recoveries at our newly commissioned Vizag site, and expanding into new products and geographies. We are happy with the outcome of the USFDA inspection at our Cuddalore facility with Zero 483 inspectional observations. The result of these inspections demonstrates our commitment to regulatory excellence at our global manufacturing sites and our relentless focus on world-class quality and compliance.

Coming to the Q1FY24 performance, I am pleased to report that we achieved 5% YoY growth in Revenues and 11% YoY growth in EBITDA. Our order book continues to be strong. We are pleased to note the increase in demand for Ibuprofen and Ibuprofen derivatives. We continue to focus on Operating cost reduction, continuous improvement program (CIP), and inventory management. With a Strong order book position, expansion in margins, and reduced under recovery at Vizag, we have a visible growth momentum for the forthcoming quarters.”

 

Result PDF

Pharmaceuticals company Solara Active Pharma Sciences announced Q4FY23 & FY23 results:

  • FY23 Revenues at Rs 14,663 million up 14% YoY; EBITDA at Rs 1,507 million up 63% YoY
  • Q4FY23 Revenues stood at Rs 3,853 million
  • Gross margins at 50.3% in Q4FY23 versus 47.3% in Q3FY23; QoQ Improvement in Gross margins by 300 bps
  • Reported EBITDA at Rs 515 million, EBITDA margins at 13.4%; QoQ Improvement in EBITDA margins by 70 bps
  • Reduction in under-recoveries at Vizag

Commenting on the financial performance, Jitesh Devendra, MD of the company, remarked, “We are delighted to conclude fiscal year 23 on a positive note, having accomplished many of the goals we set for ourselves at the beginning of the year. The prior fiscal year (FY22) was a difficult one for the company, prompting the board to make several important decisions to ensure Solara returns to positive growth territory with sustained profitability. We had set forth key strategic priorities, which included resetting and concentrating the base business, restoring R&D velocity, addressing under-recoveries at our newly commissioned Vizag site, and expanding into new products and geographies.

I am pleased to report that we are trending positively toward a broad range of outcomes, and our performance in FY23, particularly the second half, is indicative of the company's efforts to rebound. Additionally, to the FY23 results, we have made major strides toward founding a strong base, yielding even greater future performance as we keep expanding.

As we enter FY24, we are extremely optimistic about the business's prospects. We are confident that Solara will have another successful year. We remain committed to delivering value and thank our investors for their continued support.”

Commenting on the financial performance, Poorvank Purohit, CEO of the company, remarked “I am delighted to join Solara and be part of Solara’s 3.0 growth journey. These improved financial results are a testament to the hard work and dedication of our employees and the strength of our product portfolio. Moving forward, we will continue to focus on outcomes that deliver value to all our stakeholders. The second half of Fiscal year 2023 has brought in more confidence in the fundamentals of the business. Our margins have risen, and we are working towards building new opportunities for sustainable growth.”

 

Result PDF

Solara Active Pharma Sciences announced Q3FY23 results:

  • Q3FY23:
    • Quarterly Revenues stood at Rs 4,019 million, back to historical quarterly run-rate.
    • Gross margins at 47.3% in Q3FY23 vs 44.2% in Q2FY23; QoQ Improvement in Gross margins by 308 bps.
    • Reported EBITDA at Rs 510 million, EBITDA margins at 12.7%; QoQ Improvement in EBITDA margins by 392 bps.
    • Reduction in under-recoveries at Vizag.
    • Achieved positive PAT in Q3FY23.

Commenting on the financial performance, Jitesh Devendra, Managing Director of the Company, remarked, “Q3FY23 is a turnaround quarter for Solara as we achieved most of the targeted goals when we embarked on the coursecorrection journey last year. We have returned to positive growth territory, and our base business is also trending to historical performance levels on the margins. While this reset journey has taken its time, on behalf of the promoters, the Board, and the management, we thank all our investors for reposing faith in the Company as we build out Solara for the future.

We are on the right path of recovery. Our order book continues to improve each quarter, and cost improvement plans (CIPs) have started to deliver outcomes resulting in better profitability in the coming quarters.

The investments we have made in new products since the inception of Solara are yielding results. We continue to invest in our R&D for strengthening our generic API portfolio and CRAMS, to meet the growing demands for our existing products filed as part of increasing market share through market extensions, addressing regulatory requirements for new products.

We have commenced commercial production at our Vizag facility resulting in a reduction of under-recovery. We are making good progress for regulatory accreditations for our Vizag facility first one being CEP approval for Ibuprofen.

Overall, we have established a strong foundation which led to the improvements our business has shown, and we are very confident of the future ahead of us.

We are pleased to announce that the Board has approved the appointment of Mr. Poorvank Purohit as Chief Executive Officer. Poorvank comes with 19 years of strong B2B experience in both APIs and Finished dosage forms. He holds a strong, technical, commercial and management background. His experience will support Solara’s growth strategy.”

Result PDF

Solara Active Pharma Sciences announced Q2FY23 results:

  • Q2FY23:
    • Q2FY23 demonstrates improved gross margin performance of the base business
    • Quarterly revenues stood at Rs 3,421million, with reported EBITDA at Rs 300 million
    • Gross margin at 44.2% in Q2FY23 vs 41.6% in Q1FY23
    • Regulated markets back to >60% of the total revenues
    • Vizag facility receives CEP for Ibuprofen manufacturing, commercial production to commence in Q3FY23 with European supplies starting from FY24
    • Significant operational initiatives introduced to improve profitability, on track for a bounce back in H2FY23

Jitesh Devendra, Managing Director of the Company, remarked, “We are upbeat about the growth prospects of Solara. Our Q2 improved performance has played out as per our plan with our actions on CIP programs, new market extensions, new product filings, and focus on building the CRAMS business which will yield the results from the second half of this fiscal year.

With the approval of Ibuprofen DMF from CDE China for our Puducherry site and Ibuprofen CEP from EDQM for our Vizag site, we believe we are the only Company to offer Ibuprofen from two manufacturing locations.

We continue strengthening our position on Ibuprofen and its derivatives while adding new customers and markets for our other key Products. Overall, we remain on the right track to deliver a strong recovery.”

 

Result PDF

Trending News

Saregama India's announced strategic partnership with, and investment in, Sanjay Leela Bhansali's Bhansali Productions

Saregama India's announced strategic partnership with, and investment in, Sanjay Leela Bhansali's Bhansali Productions

Published on 17-Dec-2025 09:01

The Competition Commission of India (CCI) has approved ITC’s acquisition of the paper and pulp manufacturing business of Aditya Birla Real Estate Ltd (ABREL).

The Competition Commission of India (CCI) has approved ITC’s acquisition of the paper and pulp manufacturing business of Aditya Birla Real Estate Ltd (ABREL)

Published on 17-Dec-2025 09:00

Zydus Lifesciences has received a USFDA acceptance for its ANDA of for copper histidinate (CUTX-101), intended to treat Menkes disease in pediatric patients.

Zydus Lifesciences has received a USFDA acceptance for its ANDA of for copper histidinate (CUTX-101), intended to treat Menkes disease in pediatric patients.

Published on 16-Dec-2025 09:05

KIMS has commenced operations at its newly established hospital located at the PES University campus in Electronic City, Bengaluru

Krishna Institute of Medical Sciences (KIMS) has commenced operations at its newly established hospital located at the PES University campus in Electronic City, Bengaluru

Published on 16-Dec-2025 09:03

Power Grid Corporation of India Ltd (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding

Power Grid Corporation of India Ltd (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding 

Published on 16-Dec-2025 09:01

Marico is in talks to acquire Cosmix, a startup that sells plant-based protein supplements

Marico is in talks to acquire Cosmix, a startup that sells plant-based protein supplements

Published on 16-Dec-2025 09:00

Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
Download App

Download Our App

Play Store App Store
market app
✕
Application status