SOLARA
Solara Active Pharma Sciences share price & financials
- Price
- ₹563.1
- Market cap
- ₹2.5k Cr
- Sector
- Healthcare
- Calls analysed
- 6
Solara Active Pharma Sciences Limited Q1 FY27
What went well
- Overall revenues stood at INR384 crores, marking a 20% year-on-year growth.
- PAT increased by 55% year-on-year to INR16.3 crores, representing the highest PAT in the last 18 quarters.
- Base business revenues grew 24% year-on-year to INR307 crores, demonstrating strong momentum.
What to watch
- The commodity Ibuprofen business reported a negative EBITDA margin of 12%, with an expected ongoing loss of INR10-15 crores per quarter.
- Gross margins were marginally lower quarter-on-quarter due to raw material pricing and supply challenges, primarily triggered by geopolitical developments in West Asia.
What Solara Active Pharma Sciences Limited does
Solara Active Pharma Sciences is a pure-play manufacturer of Active Pharmaceutical Ingredients (APIs), offering a diversified portfolio of over 60 commercial APIs across therapeutic areas such as pain management, anti-infectives, anti-malarials, anti-convulsants and anti-psychotics to customers in more than 70 countries. It operates six API manufacturing facilities across India (Ambernath, Mysuru, Mangaluru, Vizag, Puducherry and Cuddalore) with a combined reactor capacity of 2,673 KL, alongside a dedicated research and innovation centre in Chennai. Its plants carry approvals from major global regulators including the USFDA, EU GMP, WHO and Japan's PMDA. The company earns revenue by manufacturing and selling APIs and pharmaceutical intermediates to formulators worldwide, and internally splits its business into a regulated-markets 'base' API portfolio and a separate, currently commodity-priced Ibuprofen business.
Segments
- Base API business
- Commodity Ibuprofen business
- API manufacturing facilities
- 6 (across India)
- Countries served
- 70+
- Commercial API portfolio
- 60+ commercial APIs, with 10 more under active development
- Total reactor capacity
- 2,673 KL
- Cumulative USFDA audits completed
- 33 (across sites, to date)
- R&D scientists
- 60+
Guidance record · Q1 FY27
what the last two calls moved 20 tracked 2 delivered 6 missed 12 open- Deferred Sales Recovery delivered said Q2 FY26 Promised: Service the business in next two quarters (Q3/Q4) Q1 FY27: Promise was achieved in Q3 FY26. No further updates.
- FY26 Revenue Growth missed said Q1 FY26 Promised: around 10% Q1 FY27: The promise pertains to the completed FY26 and remains missed. No further updates.
- CRAMS Equity Infusion Plan delayed said Q1 FY26 Promised: More answers... in the next call Q1 FY27: The decision remains linked to the Ibuprofen strategy. Management has pushed the timeline for a full plan, stating 'you will have to give us time till our Q2 results are out'.
All 20 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 19.7%, net profit up 45.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 347 | 300 | 273 | 319 | 314 −10% | 349 +16% | 387 +42% | 382 +20% |
| EBITDA | 61 | 58 | 45 | 57 | 35 −43% | 37 −36% | 58 +29% | 62 +9% |
| Net profit | 8 | 8 | -2 | 11 | -10 −225% | -17 −312% | 10 +600% | 16 +45% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +12.8% 1Y
1Y: ₹663.95 on 10 Sept 2025 → ₹749.15. High ₹749.15 (11 Sept 2026), low ₹425.55 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −2.3%
- 23 Jul
- Q4 FY26
- +14.2%
- 15 May
- Q3 FY26
- +2.4%
- 10 Feb
- Q2 FY26
- −8.8%
- 5 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 1.8% a year over 3 years, FY23 to FY26. Operating margin widened to 13.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.4k Cr | ₹1.3k Cr | ₹1.3k Cr | ₹1.4k Cr |
| Operating profit | ₹135 Cr | ₹-95 Cr | ₹206 Cr | ₹187 Cr |
| Operating margin | 9.3% | -7.4% | 16.1% | 13.7% |
| Interest | ₹90 Cr | ₹105 Cr | ₹115 Cr | ₹95 Cr |
| Depreciation | ₹111 Cr | ₹103 Cr | ₹99 Cr | ₹100 Cr |
| Net profit | ₹-22 Cr | ₹-566 Cr | ₹1 Cr | ₹-6 Cr |
| Net margin | -1.5% | -43.9% | 0.1% | -0.4% |
| Cash from operations | ₹156 Cr | ₹109 Cr | ₹213 Cr | ₹153 Cr |
| Free cash flow | ₹46 Cr | ₹69 Cr | ₹173 Cr | ₹101 Cr |
| ROCE | 2.0% | -9.0% | 6.0% | 5.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹36 Cr | ₹44 Cr | ₹45 Cr |
| Reserves | ₹1.6k Cr | ₹1.5k Cr | ₹1.5k Cr | ₹898 Cr | ₹1.2k Cr | ₹1.2k Cr |
| Borrowings | ₹621 Cr | ₹1.0k Cr | ₹1.0k Cr | ₹1.0k Cr | ₹646 Cr | ₹687 Cr |
| Other liabilities | ₹404 Cr | ₹383 Cr | ₹386 Cr | ₹406 Cr | ₹393 Cr | ₹393 Cr |
| Total liabilities | ₹2.6k Cr | ₹2.9k Cr | ₹2.9k Cr | ₹2.4k Cr | ₹2.3k Cr | ₹2.3k Cr |
| Fixed assets | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Capital work in progress | ₹88 Cr | ₹239 Cr | ₹238 Cr | ₹256 Cr | ₹230 Cr | ₹205 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹5 Cr |
| Other assets | ₹1.1k Cr | ₹1.4k Cr | ₹1.3k Cr | ₹825 Cr | ₹829 Cr | ₹886 Cr |
| Total assets | ₹2.6k Cr | ₹2.9k Cr | ₹2.9k Cr | ₹2.4k Cr | ₹2.3k Cr | ₹2.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Solara Active Pharma Sciences Limited
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