Solara Active Pharma Sciences Ltd

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Solara Active Pharma Sciences Ltd

₹ 630 -0.55%
02 Nov 12:03 p.m.
solara.co.in BSE: 541540 NSE: SOLARA
About

Solara Active Pharma Sciences Ltd is engaged in business of manufacturing, production, processing, formulating, sale, import, export, merchandising, distributing, trading of APIs.[1]

It was formed through demerger of API business from Strides Shasun Ltd (currently named as Stride Pharma Sciences). Subsequently, it also acquired the human API business from Sequent Scientific Ltd during the same time, making it a pure play API company.[2]

Key Points

Product Offerings
The company is a pure-play API manufacturer, offering a range of high-value commercial APIs and contract manufacturing services across 73+ countries. Its portfolio includes 60+ commercial APIs across key therapeutic segments, including anthelmintic, anti-malaria, anti-infective, etc. The top 10 molecules contribute to 84% of its total revenues. [1] [2] [3]

Website BSE NSE
  • Market Cap ₹ 3,055 Cr.
  • Current Price ₹ 630
  • High / Low ₹ 774 / 422
  • Stock P/E 62.0
  • Book Value ₹ 297
  • Dividend Yield 0.00 %
  • ROCE 4.91 %
  • ROE -0.11 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -3.27% over past five years.
  • Company has a low return on equity of -12.0% over last 3 years.
  • Promoters have pledged 52.0% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
425 212 299 363 347 300 273 319 314 349 387 382 417
388 374 290 321 286 243 230 262 279 312 330 320 340
Operating Profit 38 -162 10 42 61 58 43 57 35 37 58 62 77
OPM % 9% -76% 3.3% 12% 18% 19% 16% 18% 11% 11% 15% 16% 18%
-2 -62 -122 1 0 1 6 1 0 -7 5 2 -4
Interest 24 25 31 31 28 27 29 24 21 22 27 20 16
Depreciation 26 26 25 25 25 25 24 24 24 26 26 27 27
Profit before tax -15 -275 -168 -12 8 8 -5 11 -10 -17 10 17 30
Tax % 0% 0% 53% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-15 -275 -256 -12 8 8 -5 11 -10 -17 10 17 30
EPS in Rs -3.18 -57.36 -53.42 -3.42 2.23 2.25 -1.35 2.91 -2.79 -4.82 2.69 3.52 6.10
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
521 1,387 1,322 1,617 1,268 1,444 1,289 1,284 1,369 1,535
462 1,173 1,065 1,232 1,187 1,309 1,384 1,080 1,182 1,301
Operating Profit 59 214 257 385 81 134 -95 204 187 234
OPM % 11% 15% 19% 24% 6% 9% -7% 16% 14% 15%
2 12 27 28 14 22 -184 9 0 -4
Interest 25 82 78 84 75 90 106 115 94 86
Depreciation 34 83 94 108 112 111 103 99 100 105
Profit before tax 2 61 112 221 -92 -45 -488 -1 -7 39
Tax % 0% 3% 0% 0% -36% -50% 16% 0% 0%
2 59 112 221 -59 -22 -567 -1 -7 39
EPS in Rs 17.06 31.42 46.13 -12.20 -4.63 -118.10 -0.30 -2.00 7.49
Dividend Payout % 0% 22% 5% 11% 0% -49% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -3%
3 Years: -2%
TTM: 27%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 25%
TTM: 1243%
Stock Price CAGR
10 Years: %
5 Years: -11%
3 Years: 26%
1 Year: 5%
Return on Equity
10 Years: %
5 Years: -8%
3 Years: -12%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 25 26 27 36 36 36 36 40 45 48
Reserves 745 937 1,064 1,557 1,491 1,467 901 1,056 1,211 1,392
633 538 722 621 1,037 1,013 1,012 796 637 542
414 456 339 397 373 379 398 333 384 417
Total Liabilities 1,817 1,957 2,152 2,610 2,937 2,895 2,347 2,225 2,277 2,400
1,063 1,195 1,374 1,359 1,334 1,342 1,261 1,187 1,231 1,195
CWIP 70 39 40 88 239 238 256 280 205 208
Investments 19 18 18 18 15 16 14 2 2 2
666 705 719 1,145 1,350 1,298 815 757 839 996
Total Assets 1,817 1,957 2,152 2,610 2,937 2,895 2,347 2,225 2,277 2,400

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
50 166 242 154 -242 156 111 213 153
-85 -113 -359 -105 -243 -81 -5 -37 -50
67 -23 97 92 334 -113 -107 -180 -103
Net Cash Flow 32 30 -20 142 -151 -38 -0 -5 0
Free Cash Flow 15 107 -26 -16 -451 46 69 173 101
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 90% 84% 103% 49% -276% 106% -116% 105% 83%

Ratios

Standalone / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 185 76 63 109 141 136 99 93 117
Inventory Days 252 111 170 149 321 258 163 185 170
Days Payable 420 126 131 154 150 139 140 141 143
Cash Conversion Cycle 17 62 102 104 312 256 123 137 144
Working Capital Days -120 -20 -30 17 39 22 -129 -61 -22
ROCE % 10% 12% 15% -1% 2% -9% 6% 5%

Insights

In beta
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Number of Countries Served
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R&D Spend (charged to P&L)
INR Crores
Number of Permanent Employees
count
Cumulative DMFs Filed
count
Number of Products Commercialized
count
Regulated Market Revenue Share
% of total revenue
Total Reactor Capacity
KL

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Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
30.49% 30.49% 37.27% 37.27% 37.23% 37.94% 42.01% 42.01% 42.00% 42.00% 41.93% 41.93%
16.62% 15.80% 14.00% 14.25% 14.67% 14.63% 14.25% 13.58% 11.98% 11.59% 11.52% 10.71%
1.75% 2.97% 2.83% 3.37% 3.19% 2.61% 2.62% 2.69% 3.64% 3.75% 3.74% 3.89%
51.14% 50.73% 45.89% 45.11% 44.92% 44.82% 41.10% 41.71% 42.37% 42.66% 42.79% 43.46%
No. of Shareholders 72,91873,91277,17071,88283,14875,79174,33472,47971,89070,40070,49070,905

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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