Solara Active Pharma Sciences Ltd

Solara Active Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Solara Active Pharma Sciences Ltd

₹ 545 9.99%
28 Jun - 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

Business Segments
It is a global, R&D-focused, pure-play Active Pharmaceutical Ingredients (API) company engaged in the manufacturing and development of APIs and offering Contract Manufacturing and Development Services for global companies. [1]

Website BSE NSE
  • Market Cap ₹ 2,244 Cr.
  • Current Price ₹ 545
  • High / Low ₹ 559 / 264
  • Stock P/E
  • Book Value ₹ 195
  • Dividend Yield 0.00 %
  • ROCE -8.63 %
  • ROE -33.4 %
  • Face Value ₹ 10.0
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Pros

  • Debtor days have improved from 126 to 99.5 days.
  • Promoter holding has increased by 6.78% over last quarter.
  • Company's working capital requirements have reduced from 198 days to 124 days

Cons

  • Stock is trading at 2.79 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -1.45% over past five years.
  • Company has a low return on equity of -11.3% over last 3 years.
  • Promoters have pledged 38.3% of their holding.
  • Promoter holding has decreased over last 3 years: -6.83%

* 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

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
444 406 402 100 361 330 338 395 381 352 425 249 299
345 314 329 197 348 320 311 349 329 333 388 410 290
Operating Profit 100 92 72 -97 13 10 28 45 52 19 38 -162 10
OPM % 22% 23% 18% -96% 4% 3% 8% 11% 14% 5% 9% -65% 3%
10 5 3 3 3 6 4 7 5 2 -2 -62 -122
Interest 25 19 17 18 21 22 22 24 22 26 24 25 31
Depreciation 27 28 28 28 28 28 29 28 26 26 26 26 25
Profit before tax 57 51 30 -140 -33 -34 -19 1 8 -30 -15 -275 -168
Tax % 0% 0% 0% 0% 101% 44% 48% 21% 22% 34% 0% 0% -53%
57 51 30 -140 0 -19 -10 0 6 -20 -15 -275 -256
EPS in Rs 11.93 10.56 6.31 -29.14 0.05 -4.00 -2.06 0.09 1.35 -4.14 -3.18 -57.36 -53.42
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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
521 1,387 1,322 1,617 1,268 1,444 1,289
462 1,173 1,065 1,232 1,187 1,309 1,384
Operating Profit 59 214 257 385 81 134 -95
OPM % 11% 15% 19% 24% 6% 9% -7%
2 12 27 28 14 22 -184
Interest 25 82 78 84 75 90 106
Depreciation 34 83 94 108 112 111 103
Profit before tax 2 61 112 221 -92 -45 -488
Tax % 0% 3% 0% 0% 36% 50% -16%
2 59 112 221 -59 -22 -567
EPS in Rs 17.06 31.42 46.13 -12.20 -4.63 -118.10
Dividend Payout % 0% 22% 5% 11% 0% -49% 0%
Compounded Sales Growth
10 Years: %
5 Years: -1%
3 Years: -7%
TTM: -11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -1774%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: -29%
1 Year: 55%
Return on Equity
10 Years: %
5 Years: -2%
3 Years: -11%
Last Year: -33%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 25 26 27 36 36 36 36
Reserves 745 937 1,064 1,557 1,491 1,467 901
633 538 722 621 1,037 1,013 1,012
414 456 339 397 373 379 398
Total Liabilities 1,817 1,957 2,152 2,610 2,937 2,895 2,347
1,063 1,195 1,374 1,359 1,334 1,342 1,261
CWIP 70 39 40 88 239 238 256
Investments 19 18 18 18 15 16 14
666 705 719 1,145 1,350 1,298 815
Total Assets 1,817 1,957 2,152 2,610 2,937 2,895 2,347

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
50 166 242 154 -242 156 111
-85 -113 -359 -105 -243 -81 -5
67 -23 97 92 334 -113 -107
Net Cash Flow 32 30 -20 142 -151 -38 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 185 76 63 109 141 136 99
Inventory Days 252 111 170 149 321 258 163
Days Payable 420 126 131 154 150 139 140
Cash Conversion Cycle 17 62 102 104 312 256 123
Working Capital Days 112 36 68 119 253 216 124
ROCE % 10% 12% 15% -1% 2%

Shareholding Pattern

Numbers in percentages

21 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
41.07% 39.51% 39.71% 40.40% 40.41% 40.41% 40.98% 39.31% 37.19% 30.49% 30.49% 37.27%
17.28% 18.15% 19.42% 17.93% 18.47% 19.26% 19.30% 18.71% 17.86% 16.62% 15.80% 14.08%
6.05% 5.40% 3.64% 3.10% 2.97% 3.01% 2.75% 1.75% 1.79% 1.75% 2.97% 2.83%
35.60% 36.94% 37.22% 38.57% 38.16% 37.32% 36.95% 40.22% 43.16% 51.14% 50.73% 45.83%
No. of Shareholders 65,44973,00077,22882,71083,31979,14976,32575,41774,47372,91873,91278,617

* 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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