Solara Active Pharma Sciences Limited (SOLARA)

Loading page…

Solara Active Pharma Sciences Limited (SOLARA) · mywealthgrid

About

Solara operates in pharmaceuticals at ₹2.5k Cr market cap, generating ₹380-390 Cr quarterly revenue. Classified in Pharmaceuticals & Biotechnology, it is a mid-sized player in Indian healthcare. Recent quarters show recovery to profitability (₹16.99 Cr net profit Jun 2026) after losses in late 2025.

Face value: ₹10

Market cap

₹3,446 Cr

P/E

—

P/B

2.5×

Dividend yield

ROE

-0.6%

ROCE

6.8%

Debt / equity

0.53

OPM

13.6%

EPS (TTM)

₹-0.4

Book value

₹281.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profit volatility: net profit ranged from -₹17.42 Cr (Dec 2025) to +₹16.99 Cr (Jun 2026) in six months, indicating exposure to operational or market shocks
Negative ROE of -0.63% signals capital is destroying value despite recent profitability
Operating margin swung from 10.7% (Dec 2025) to 16.25% (Jun 2026), suggesting exposure to input costs or capacity constraints — verify if current margin levels are sustainable
Stock down 14.45% YoY, trading ₹512 vs. 52w high ₹686.5; verify whether valuation reflects recovery or ongoing distress

Generated analysis · source review pending

Growth drivers

Operating margin recovered to 16.25% (Jun 2026) from 10.7% (Dec 2025); if structural improvements hold, this expands earnings on the ₹380-390 Cr revenue base
Quarterly revenue recovered sequentially from ₹313.54 Cr (Sep 2025) to ₹381.6 Cr (Jun 2026); verify whether this reflects underlying market recovery or company-specific operational gains
Return to profitability (₹16.99 Cr net profit Jun 2026) after Dec/Sep 2025 losses provides foundation for reinvestment; confirm turnaround is sustainable before betting on earnings growth

Generated analysis · source review pending

2,036 historical price candles were omitted because the exchange source has not been verified.

₹714.9-4.7%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of -15.7% (3-yr avg)
−Revenue shrank over the last 5 years (-3.3% a year)
−Weak interest coverage of 1×

Research score

Structured signal from quality, growth, valuation and momentum.

49/100

Business quality: 22
Growth: 61
Valuation: 66

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,387	1,322	1,617	1,268	1,444	1,289	1,284	1,369
COGS	705	599	724	654	789	805	626	685
Gross profit	682	723	892	614	655	484	657	684
	461	463	507	534	521	579	451	498
	221	259	386	80	134	-95	206	187
OPM %	15.9%	19.6%	23.9%	6.3%	9.3%	-7.4%	16.1%	13.6%
Depreciation	83	94	109	112	111	103	99	100
Interest	82	78	84	75	90	105	115	95
	5	28	29	17	23	-185	8	0
Profit before tax	60	115	222	-91	-45	-488	1	-7
Tax	1	0	0	-33	-23	79	0	0
Tax %	1%	0.3%	0.1%	-36%	-50.4%	16.1%	0%	0%
	59	115	221	-58	-22	-567	1	-7
PAT margin %	4.3%	8.7%	13.7%	-4.6%	-1.5%	-44%	0%	-0.5%
EPS (₹)	21.8	44.3	69	-16.2	-6.2	-157.6	0.1	-1.7
EPS adjusted (₹)	23.1	41.3	61.6	-16.2	-6.2	-157.6	0.1	-1.7
	23%	4.5%	10.1%	—	—	—	0%	—
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	25	26	27	36	36	36	36	40	45
Reserves	739	930	1,059	1,553	1,489	1,464	898	1,054	1,208
Minority interest	4	4	4	4	2	2	3	3	3
	573	439	587	607	1,025	1,001	1,000	776	665
	480	560	477	414	393	395	414	359	413
Total equity & liabilities	1,822	1,960	2,154	2,614	2,945	2,899	2,351	2,232	2,333
	1,063	1,189	1,306	1,297	1,275	1,340	1,266	1,133	1,180
CWIP	71	40	40	88	239	238	256	280	205
Investments	1	0	0	26	25	26	4	4	5
	686	731	807	1,203	1,406	1,295	825	814	943
Total assets	1,822	1,960	2,154	2,614	2,945	2,899	2,351	2,232	2,333

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.2%	54.7%	55.2%	48.4%	45.4%	37.5%	51.2%	50%
EBITDA margin %	15.9%	19.6%	23.9%	6.3%	9.3%	-7.4%	16.1%	13.6%
EBIT margin %	9.9%	12.5%	17.1%	-2.6%	1.6%	-15.4%	8.3%	6.4%
PAT margin %	4.3%	8.7%	13.7%	-4.6%	-1.5%	-44%	0%	-0.5%
Working capital
Receivable days	76	63	109	141	136	99	93	117
Inventory days	111	170	149	321	258	163	185	169
Payable days	1	—	156	154	142	142	145	146
NWC days	186	—	102	308	252	120	133	140
Leverage
Current ratio	0.99	0.92	1.34	1.17	1.08	0.63	0.77	0.96
Debt to EBITDA	1.99	2.26	1.57	12.81	7.48	—	3.76	3.56
Debt to equity	0.46	0.54	0.38	0.67	0.67	1.07	0.71	0.53
Interest coverage	1.8	2.5	3.6	-0.2	0.5	-1.8	1	1
Asset turnover	0.71	0.61	0.62	0.43	0.5	0.55	0.58	0.59
Return ratios
Return on assets %	3%	5.3%	8.5%	-2%	-0.8%	-24.1%	0%	-0.3%
Return on capital employed %	11.5%	14.1%	18.8%	-0.7%	2.5%	-13.3%	9.6%	6.8%
Return on equity %	6.2%	10.5%	13.9%	-3.8%	-1.5%	-60.7%	0%	-0.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37.19%	30.49%	30.49%	37.27%	37.27%	37.23%	37.94%	42.01%	42.01%	42%	42%	41.93%
	17.86%	16.62%	15.8%	14%	14.25%	14.67%	14.63%	14.25%	13.58%	11.98%	11.59%	11.52%
	1.79%	1.75%	2.97%	2.83%	3.38%	3.19%	2.61%	2.62%	2.69%	3.64%	3.75%	3.74%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	43.16%	51.14%	50.74%	45.9%	45.1%	44.91%	44.82%	41.12%	41.72%	42.38%	42.66%	42.81%
No. of shareholders	—	—	—	—	—	—	—	—	72,479	71,890	70,400	70,490

Promoter holding up 4.74 percentage points since Sep 2023.

64 deals · 24 Nov 2021 – 10 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
10 Jul 2026	TPG GROWTH IV SF PTE LTD	Bulk	NSE	Sell	3,00,000	₹573.20	₹17.20 Cr
20 Jun 2025	FSSA INDIAN SUBCONTINENT FUND	Bulk	NSE	Sell	2,24,730	₹538.11	₹12.09 Cr
16 Jun 2025	SPIRACCA VENTURES LLP	Block	NSE	Sell	20,00,000	₹495.00	₹99.00 Cr
16 Jun 2025	PRONOMZ VENTURES LLP	Block	NSE	Buy	20,00,000	₹495.00	₹99.00 Cr
16 Jun 2025	SPIRACCA VENTURES LLP	Bulk	NSE	Sell	20,00,000	₹495.00	₹99.00 Cr
16 Jun 2025	PRONOMZ VENTURES LLP	Bulk	NSE	Buy	20,00,000	₹495.00	₹99.00 Cr
24 Feb 2025	AARTI BHATIA	Block	BSE	Buy	2,04,527	₹490.00	₹10.02 Cr
24 Feb 2025	BHATIA SURESH	Block	BSE	Sell	2,04,527	₹490.00	₹10.02 Cr
24 Feb 2025	BHATIA SURESH	Bulk	BSE	Sell	2,04,527	₹490.00	₹10.02 Cr
24 Feb 2025	AARTI BHATIA	Bulk	BSE	Buy	2,04,527	₹490.00	₹10.02 Cr

1–10 of 64

1 / 7

Mr. Ramakrishnan RajagopalNon-Executive - Independent Director-Chairperson
Mrs. Kausalya SanthanamNon-Executive - Independent Director
Mr. Arun Kumar PillaiNon-Executive - Non Independent Director
Mr. Sandeep Shashikantha RaoExecutive Director-CEO-MD
Mr. Manish GuptaNon-Executive - Non Independent Director
Mr. Rajendra Kumar SrivastavaNon-Executive - Independent Director
Mr. Rajiv Vijay NabarNon-Executive - Independent Director
Mr. Mohanraj SanjeeviExecutive Director
Mr. Sandeep RaoChief Executive Officer
Mr. Sarat KumarChief Financial Officer
Ms. Pooja Jaya KumarCompany Secretary & Compliance Officer

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

0.95%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

2 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	625	0.04	0.09%	0.001%	+1
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	68	0	0.01%	0%	-0

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

4

Dividend dividend18 Aug 2021 · ex-date₹3
Interim dividend19 Nov 2020 · ex-date₹4
Dividend dividend28 Jul 2020 · ex-date₹2
Final dividend6 Aug 2019 · ex-date₹5

1

Board meeting to consider results23 Jul 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

113 announcementsExport CSV

22 Sept 2026, 5:54 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.2%	54.7%	55.2%	48.4%	45.4%	37.5%	51.2%	50%
EBITDA margin %	15.9%	19.6%	23.9%	6.3%	9.3%	-7.4%	16.1%	13.6%
EBIT margin %	9.9%	12.5%	17.1%	-2.6%	1.6%	-15.4%	8.3%	6.4%
PAT margin %	4.3%	8.7%	13.7%	-4.6%	-1.5%	-44%	0%	-0.5%
Working capital
Receivable days	76	63	109	141	136	99	93	117
Inventory days	111	170	149	321	258	163	185	169
Payable days	1	—	156	154	142	142	145	146
NWC days	186	—	102	308	252	120	133	140
Leverage
Current ratio	0.99	0.92	1.34	1.17	1.08	0.63	0.77	0.96
Debt to EBITDA	1.99	2.26	1.57	12.81	7.48	—	3.76	3.56
Debt to equity	0.46	0.54	0.38	0.67	0.67	1.07	0.71	0.53
Interest coverage	1.8	2.5	3.6	-0.2	0.5	-1.8	1	1
Asset turnover	0.71	0.61	0.62	0.43	0.5	0.55	0.58	0.59
Return ratios
Return on assets %	3%	5.3%	8.5%	-2%	-0.8%	-24.1%	0%	-0.3%
Return on capital employed %	11.5%	14.1%	18.8%	-0.7%	2.5%	-13.3%	9.6%	6.8%
Return on equity %	6.2%	10.5%	13.9%	-3.8%	-1.5%	-60.7%	0%	-0.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

Date	Category	Subject	Filing
22 Sept 2026, 5:54 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
18 Sept 2026, 5:01 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Aug 2026, 2:44 pm	Company Update General	Intimation In Connection With The Receipt Of Rectification Order	PDF
26 Aug 2026, 5:36 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
25 Aug 2026, 6:34 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF
25 Aug 2026, 6:27 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
25 Aug 2026, 6:16 pm	AGM/EGM AGM	Notice Of The Ninth Annual General Meeting	PDF
24 Aug 2026, 7:00 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	242	155	-242	156	109	213	153
	-359	-106	-243	-81	-4	-37	-99
	97	92	334	-113	-106	-180	-54
Net cash flow	-20	142	-151	-38	-0	-4	1
Free cash flow	—	-19	-451	45	68	173	100
CFO / Operating profit %	93.3%	40.3%	-302.7%	116.7%	—	103.2%	81.9%

Solara Active Pharma Sciences Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

4

1

Announcements

Not in the F&O segment

4

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Return on equity

Solara Active Pharma Sciences Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends4

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Dividends4

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

4

1

4

1