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Solara Active Pharma Sciences Ltd

Company details

391.85
406.70
323.65
976.00
6M Return 1.09%
1Y Return -58.38%
Mkt Cap.(Cr) 1,433.36
Volume 8,378
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 8,378

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Solara Active Pharma Sciences Ltd.

Q3FY23 Quarterly Result Announced for Solara Active Pharma Sciences Ltd.

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

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FINANCIALS

Sales

Operating Profit

Profit after Tax

Equity

Reserves and Surplus

Debt

Sales

Operating Profit

Profit after Tax

PE

Debt/Equity

P BV

COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 1,524.87 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 17,871.26 -28,732.63
LAST 3M 35,065.84 -30,146.79
LAST 6M 57,360.50 38,576.46
LAST 12M 186,944.70 -113,961.48

Solara Active Pharma Sciences Limited - Analysts/Institutional Investor Meet/Con. Call Updates

Feb 01, 2023 l NSE Announcement

Solara Active Pharma Sciences Limited - Shareholders meeting

Jan 30, 2023 l NSE Announcement

Solara`s Visakhapatnam unit successfully clears USFDA audit

Jan 30, 2023 l BSE Announcement

Date Action Type Ratio
Aug 18, 2021 Dividend 30

INFORMATION

Stock PE (TTM)

0

Promoter Holding

40.4%

Book Value

416.2588

ROCE

-0.65%

ROE

-3.74%

Registered Address

201 Devavrata Sector 17 Vashi, Navi Mumbai, Mumbai, Maharashtra, 400703

Tel : 91-22-27892924
Email : investors:solara.co.in
Website : http://www.solara.co.in

Registrar

Cameo Corporate Services Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 541540
NSE Code : SOLARA
Book Closure Date (Month) : Aug
BSE Group : A
ISIN : INE624Z01016

ICICIdirect Solara Active Pharma Sciences Ltd FAQ

You can buy Solara Active Pharma Sciences Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Solara Active Pharma Sciences Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Feb 03, 2023 04:01 PM the closing price of Solara Active Pharma Sciences Ltd was ₹ 398.20.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Feb 03, 2023 04:01 PM, the market cap of Solara Active Pharma Sciences Ltd stood at ₹ 1,433.36.
The latest PE ratio of Solara Active Pharma Sciences Ltd as of Feb 03, 2023 04:01 PM is 0
The latest PB ratio of Solara Active Pharma Sciences Ltd as of Feb 03, 2023 04:01 PM is 1.05
The 52-week high of Solara Active Pharma Sciences Ltd is ₹ 976.00 while the 52-week low is ₹ 323.65

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