Solara Active Pharma Sciences Ltd
SOLA

Solara Active Pharma Sciences Ltd (SOLARA)

₹428.756.48%

Key Stats

₹404
Day's Price Range
₹439.95
₹382
52-Week Price Range
₹1839
1 Month Return-41.52 %
3 Month Return-40.99 %
1 Year Return-77.66 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 65
-24.89
EPS
Rank 71
₹-16.18
BVPS
Rank 2
₹442.24
Dividend Yield
Rank 26
0.5%
ROE
Rank 46
16.47%
Price To Book Ratio
0.91
Debt To Asset
Rank 46
0.41

Company Information

Solara Active Pharma Sciences Ltd is a public limited Company incorporated in February 23 2017 under the provisions of Companies Act 2013 to undertake business in manufacturing production processing formulating sale import export merchandising distributing trading of and dealing in active pharmaceutical ingredients APIs. The companys shares were subsequently listed on the National Stock Exchange and Bombay Stock Exchange on 27 June 2018. The company has six APIs manufacturing plants located in Ambernath Mangalore Mysore Puducherry Vishakhapatnam and Cuddalore with a capacity of over 2000 kilo litres and two RD Centres in Chennai and Bangalore. The business is spread across 75 countries globally with extensive operations in key markets of North America Europe Japan South Korea the Middle East and North Africa.During the year the Companys wholly owned subsidiary Strides Chemicals Private Limited Strides Chemicals was amalgamated with the Company. The Honourable National Company Law Tribunal Mumbai Bench approved the Scheme of Amalgamation of Strides Chemicals with Company on December 20 2019. Accordingly the Company has fixed effective date for the Scheme is February 01 2020. The appointed date for scheme is September 01 2018. The Company has completed filing of necessary documents for giving effect to the Scheme. Consequent to amalgamation the entire equity shares held by Company in Strides Chemicals stands cancelled.The Company has made the following allotment of equity shares pursuant to conversion of warrants on preferential issue vide Circular Resolution dated 01092020 during the financial year under review: a 1500000 Equity Shares with face value of Rs 10/ each at a price of Rs 400/ per share including premium of Rs 390/ per share to Arunkumar Pillai Promoter bearing distinctive numbers 26863268 to 28363267.b 1400000 Equity Shares with face value of Rs 10/ each at a price of Rs 400/ per share including premium of Rs 390/ per share to Karuna Business Solutions LLP a promoter group entity bearing distinctive numbers 28363268 to 29763267.c 1700000 Equity Shares with face value of Rs 10/ each at a price of Rs 400/ per share including premium of Rs 390/ per share to SRJR Enterprise LLP a promoter group entity bearing distinctive numbers 29763268 to 31463267.d 4000000 Equity Shares with face value of Rs 10/ each at a price of Rs 500/ per share including premium of Rs 490/ per share to TPG Growth IV SF Pte. Ltd bearing distinctive numbers 31463268 to 35463267.The acheivements received by the company in FY 202021 were as follows:The Ambernath facility received Certificate of Merit from National Safety Council Maharashtra for Lowest Average Accident Frequency Rate. They improved EcoVadis Score from 31 to 47 and was awarded a bronze medal in recognition of Sustainability achievement. The Mangalore site of company was certified for ISO 14001 and ISO 45001. Besides they conducted a Red Tag Event to identify unsafe conditions and acts to make workplace injury nd incident free. All employees and contractors actively participated in the event.The Board of Directors of Company at its meeting held on April 09 2021 have approved Scheme of Amalgamation for merger of Aurore Life Science Private Limited Empyrean Lifesciences Private Limited and Hydra Active Pharma Sciences Private Limited Transferor companies into the Company Transferee Company in terms of Section 230 to 232 of the Companies Act 2013. The Scheme is subject to necessary statutory and regulatory approvals including the approvals of National Company Law Tribunal the shareholders and creditors of each of the companies. The appointed date for the said scheme of amalgamation is April 01 2021 or such other date as may be agreed between the Transferor Company and Transferee Company and approved by National Company Law Tribunal.The companys new Greenfield plant situated at SEZ unit Plot No.:3B3C3D Part 2 and 2A1 APIIC APSEZ Atchutapuram Village Rambilli Mandal Visakhapatnam 531011 Andhra Pradesh has commenced commercial production in 2021.The Board at its meeting held on February 3 2021 has approved to acquire 487000 additional share capital in Sequent Penems Private Limited subsidiary company of Solara. Subsequent to year end the said transaction is completed and Sequent Penems Private Limited is wholly owned subsidiary of Company with effect from April 27 2021.The Issued Subscribed and Paidup Equity share capital of the Company as on March 31 2021 stood at Rs 359297670/ divided into 35929767 equity shares of Rs 10/ each. There has been increase in the Paidup share capital of the Company during the financial year on account of allotment of 8600000 equity shares by conversion of warrants and 474500 equity shares consequent to exercise of stock options by employees..
OrganisationSolara Active Pharma Sciences Ltd
HeadquartersMumbai
IndustryPharmaceuticals