Solara Active Pharma Sciences Ltd

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Solara Active Pharma Sciences Ltd

₹ 633 -3.46%
30 Oct - close price
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 ₹ 3,070 Cr.
  • Current Price ₹ 633
  • High / Low ₹ 774 / 422
  • Stock P/E 64.9
  • Book Value ₹ 296
  • Dividend Yield 0.00 %
  • ROCE 4.86 %
  • ROE -0.13 %
  • 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

Consolidated Figures in Rs. Crores / View Standalone

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
388 374 290 322 286 243 228 262 279 312 330 320 340
Operating Profit 38 -162 10 42 61 58 45 57 35 37 58 62 77
OPM % 9% -76% 3.3% 12% 18% 19% 17% 18% 11% 11% 15% 16% 18%
-4 -62 -120 1 0 1 6 1 0 -7 6 3 -4
Interest 24 25 31 31 28 27 29 24 21 22 28 22 18
Depreciation 26 26 25 25 25 25 24 24 24 26 26 27 27
Profit before tax -17 -275 -167 -13 8 8 -2 11 -10 -17 10 16 28
Tax % 0% 0% 53% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-17 -275 -255 -13 8 8 -2 11 -10 -17 10 16 28
EPS in Rs -3.58 -57.36 -53.20 -3.74 2.22 2.24 -0.58 2.91 -2.79 -4.82 2.65 3.38 5.86
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
464 1,174 1,062 1,231 1,188 1,309 1,384 1,077 1,182 1,301
Operating Profit 57 213 260 386 81 134 -95 206 187 234
OPM % 11% 15% 20% 24% 6% 9% -7% 16% 14% 15%
2 12 27 29 16 22 -185 8 0 -2
Interest 25 82 78 84 75 90 105 115 95 89
Depreciation 34 83 94 109 112 111 103 99 100 105
Profit before tax 0 60 115 222 -91 -45 -488 1 -7 37
Tax % -70% 1% 0% 0% -36% -50% 16% 0% 0%
0 59 115 221 -58 -22 -567 1 -7 37
EPS in Rs 17.30 32.01 46.22 -12.11 -4.62 -118.21 0.15 -2.05 7.07
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: 638%
Stock Price CAGR
10 Years: %
5 Years: -11%
3 Years: 32%
1 Year: 5%
Return on Equity
10 Years: %
5 Years: -7%
3 Years: -12%
Last Year: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 739 930 1,059 1,553 1,489 1,464 898 1,054 1,208 1,388
633 538 722 621 1,037 1,013 1,012 796 687 591
425 466 346 404 383 386 406 342 393 427
Total Liabilities 1,821 1,960 2,153 2,614 2,945 2,899 2,351 2,232 2,333 2,454
1,086 1,218 1,397 1,382 1,356 1,364 1,268 1,193 1,238 1,201
CWIP 71 40 40 88 239 238 256 280 205 208
Investments 1 0 0 0 0 2 2 2 5 3
663 701 716 1,144 1,350 1,295 825 757 886 1,043
Total Assets 1,821 1,960 2,153 2,614 2,945 2,899 2,351 2,232 2,333 2,454

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
49 166 242 155 -242 156 109 213 153
-85 -113 -359 -106 -243 -81 -4 -37 -99
68 -23 97 92 334 -113 -106 -180 -54
Net Cash Flow 31 30 -20 142 -151 -38 -0 -4 1
Free Cash Flow 14 108 -25 -16 -451 46 69 173 101
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 92% 85% 103% 49% -277% 106% -113% 104% 83%

Ratios

Consolidated / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 184 76 63 109 141 136 99 93 117
Inventory Days 252 111 170 149 321 258 163 185 170
Days Payable 420 127 132 156 154 142 142 144 146
Cash Conversion Cycle 16 60 101 102 308 252 120 134 140
Working Capital Days -124 -22 -32 16 37 20 -128 -62 -24
ROCE % 10% 12% 15% -0% 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 ・Standalone data
Number of Permanent Employees
count ・Standalone data
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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