Solara Active Pharma Sciences

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• DebtModerate safety, with cautionRated BBB+ by CRISIL.
• ResultsGrowingIn the Sep 2026 quarter, sales rose 33% and profit rose 380% from a year earlier. (A year earlier it made a loss.)
• DilutionRaise plannedNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 42% of the company, about the same as in Jun 2025.
• ValuationNormal for this stockThe share trades at 62.7 times its yearly earnings (P/E), cheaper than 74% of the time in the last 5 years. Its usual P/E is about 34.

Solara Active Pharma Sciences against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)62.7 against a typical 33.2: pricier than most peers (1st = cheapest).171st of 220
• Sales growth+32.8% against a typical +15.6% from a year earlier.52nd of 197
• Share price, 3 months+25.8% against a typical −1.8%.25th of 200
• Size₹ 2,956.9 Cr. market value against a typical ₹ 507.7 Cr. (1st = largest).64th of 199

Exchange filings and their impact on the company.

• 23 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactVery positivePrice +3.8% on 26 Oct
  Best quarter in five years with doubled EBITDA and return to profit confirms turnaround and deleveraging.

  Solara reported its best quarter in about five years in Q2 FY27, with revenue up 33% to Rs 418 crore, EBITDA more than doubling to Rs 77 crore, and profit of Rs 28.5 crore versus a loss last year. Base business grew 37% to Rs 327 crore at 23.6% EBITDA margin while ibuprofen recovered to near breakeven on better prices, and net debt fell to about Rs 500 crore from Rs 614 crore in March. Management guided to five new product filings this year and said the strategic review of ibuprofen will take another 12 weeks.

  Full analysisFiling
• 17 Oct 2026UpdatesLow impactNeutralPrice −7.3% on 19 Oct
  Solara gives defaulting rights holders a final window till Nov 5 to pay call money or face forfeiture.

  Solara has sent a final reminder to holders of partly paid rights shares who have not paid the First Call of Rs 131.25 and Second and Final Call of Rs 112.50 per share. Payment is open from October 22 to November 5, 2026, after which unpaid shares may be forfeited without further notice. This is only collection of leftover rights money and will have a very small effect on cash and equity.

  Full analysisFiling
• 16 Oct 2026ESOP/ESOS/ESPSLow impactNeutralPrice +7.4% that day
  Granted 4.7 lakh ESOPs at Rs 375, implying ~1% future dilution and modest ESOP cost.

  Solara Active Pharma Sciences granted 4,70,000 stock options to eligible employees under its ESOP 2024 plan at an exercise price of Rs 375 per share. The options are exercisable within 120 days of vesting. The grant implies about 1% future dilution and a modest annual ESOP cost, with no immediate impact on operations.

  Full analysisFiling
• 10 Oct 2026General UpdatesLow impactPositivePrice +2.8% on 12 Oct
  Solara got an unsolicited Crisil ESG 63 (Strong) rating, up from 56 last year.

  Solara Active Pharma Sciences said Crisil ESG Ratings & Analytics assigned it a Crisil ESG 63 score in the Strong category for FY26, up from 56 for FY25. The company said it had not engaged Crisil and the rating was assigned independently based on its FY26 disclosures and public information. The upgrade has no direct impact on sales, profits or debt but is a modest reputational positive.

  Full analysisFiling
• 9 Oct 2026UpdatesLow impactNeutralPrice +2.8% on 12 Oct
  Solara approved a fresh final reminder-cum-forfeiture notice for unpaid rights-issue call money on partly-paid shares.

  Solara Active Pharma Sciences said its Rights Issue Committee on October 9, 2026 approved sending a fresh Final Reminder-cum-Forfeiture Notice to holders of partly paid rights shares who have not paid the First Call and/or Second and Final Call money. The company will separately inform exchanges once the notice is dispatched. This is collection of money already due on the rights issue, not a new fundraise, so the near-term effect is limited to a small cash inflow if shareholders pay or forfeiture of unpaid shares.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Sandeep Shashikantha Rao

Chief Executive Officer, Managing Director, Executive Director

Sarat Kumar

Chief Financial Officer

Mohan Muthunarayanan

Chief Operating Officer, Whole Time Director

Pooja Jaya Kumar

Compliance Officer, Company Secretary

Mohanraj S.

Additional Whole Time Director

V. Sundara Moorthy

Chief Quality Officer