Pharmaceuticals company Solara Active Pharma Sciences announced Q3FY26 results Revenue: Rs 3,490 million against Rs 3,018 million during Q3FY25, change 16%. EBITDA: Rs 374 million against Rs 591 million during Q3FY25, change -37%. EBITDA Margin: 10.7% for Q3FY26. PAT: Rs -174 million against Rs 81 million during Q3FY25, change -315%. EPS: Rs -3.98 for Q3FY26. Sandeep Rao Managing Director & CEO, said: Our performance for Q3FY26 reflects a modest sequential growth, as the build out in our growth business continues to gain momentum while the Ibuprofen base business continues to experience challenges and pricing pressure. Notably, the Growth API business is already demonstrating superior profitability, operating at a ~25% EBITDA margin with gross margins of ~55% which reinforces the objective we established at the start of the year to pivot the business from a phase of reset to one defined by sustainable, and reliable growth. The underlying fundamentals of the business remain strong, supported by a resilient operating model and a healthy product mix across regulated markets. Given the persistent headwinds and the commodity-driven nature of the Ibuprofen base APIs, we are currently evaluating strategic options for this business to ensure optimal long-term value creation and capital allocation. Result PDF
Pharmaceuticals company Solara Active Pharma Sciences announced Q2FY26 results Q2FY26 Revenue at Rs 3,140 million vs Rs 3,472 million in Q2FY25; down by 10% YoY. Q2FY26 Gross Margin at Rs 1,599 million (51%) vs Rs 1,753 million (50.5%) in Q2FY25 and Rs 1,732 million (54.1%) in Q1FY26. Operating Costs at Rs 1,246 million in Q1FY26 vs Rs 1,138 million in Q2FY25 and Rs 1,157 million in Q1FY26; increased by Rs 108 million YoY. Q2FY26 EBITDA at Rs 352 million (11.3%) vs Rs 615 million (17.7%) in Q2FY25 and Rs 575 million (18%) in Q1FY26. Gross Debt as on 30-Sep-25 at Rs 6,233 million vs Rs 7,760 million at end of FY25; reduced by Rs 1,527 million. Sandeep Rao, MD & CEO, said: "We commenced FY26 with a clear objective: to pivot the business from a phase of reset to one characterized by sustainable, scalable, and reliable growth. Whilst our transformation journey remains intact, our financial performance during this quarter was primarily impacted by short-term disruptions arising from an unscheduled operational shutdown at Mangalore on account of facility upgradation resulting in delayed deliveries and reduced sales volumes during the quarter. While these factors influenced current quarter results, they are transitory. The underlying fundamentals of the business remain strong, supported by a resilient operating model, robust compliance framework, and a diversified portfolio across key markets. Regulated markets and a healthy product mix continue to be a hallmark of the business. We are also actively working to strengthen the balance sheet, aiming to reduce debt through a combination of rights issue and operating leverage, resulting in a lighter and healthier financial position." Result PDF
Pharmaceuticals company Solara Active Pharma Sciences announced Q1FY26 results Q1FY26 Revenue at Rs 3,201 million vs Rs 3,641 million in Q1FY25; down by 12% YoY. Q1FY26 Gross Margin at Rs 1,732 million (54.1%) vs Rs 1,622 million (44.5%) in Q1FY25 and Rs 1,605 million (57.5%) in Q4FY25, Significant improvement by 960 bps YoY. Operating Costs at Rs 1,157 million in Q1FY26 vs Rs 1,200 million in Q1FY25 and Rs 1,095 million in Q4FY25; reduced by Rs 43 million YoY. Q1FY26 EBITDA at Rs 575 million (18%) vs Rs 422 million (11.6%) in Q1FY25 and Rs 510 million (18.3%) in Q4FY25; Significant improvement by 639 bps YoY. Gross Debt as on 30-Jun-25 at Rs 6,327 million vs Rs 7,760 million in FY25; reduced by Rs 1,433 million. Q1FY26 PAT at Rs 105 million; Highest in the last 12 quarters. Sandeep Rao, MD & CEO, said: We kickstarted our journey into FY26 with an objective of repivoting the business from Reset to a Sustainable, Scalable and Reliable Growth and I am glad to share that we have started this journey on the right note. The Revenues have grown QoQ by ~15% with a healthy margin profile resulting in QoQ Margin growth of 8%. Although the Opex on a QoQ basis reflects a marginal increase with respect to the increased level of operations, the Business clocked EBITDA growth of ~13% on QoQ basis. Regulated markets and a healthy product mix continue to be a consistent feature of the business. We continue to work towards reducing our Debt through a combination of Rights issue and operating leverage resulting in a lighter and healthier balance sheet. Solara has recorded the highest PAT in the last 12+ quarters on account of EBITDA growth led by positive business outcomes and reduced finance cost. Result PDF
Pharmaceuticals company Solara Active Pharma Sciences announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Q4 Revenues at Rs 2,790 million; Q4 Gross Margin at Rs 1,605 million (57.5%); Q4 EBITDA at Rs 510 million (18.3%); FY25 Financial Highlights: FY25 Revenues at Rs 12,921 million vs Rs 12,943 million in FY24; Flat YoY FY25 Gross Margin at Rs 6,649 million (51.5%) vs Rs 4,891 million (37.8%) in FY24; improvement by 1,370 bps YoY FY25 EBITDA at Rs 2,138 million (16.5%) vs. negative Rs 917 million (-7%) in FY24; significant improvement by 2,360 bps YoY Sandeep Rao, MD & CEO stated: "FY25 was a Reset year for Solara. While we regrettably missed our guidance both on Revenues and EBITDA, we continued to focus on profitable high margin and high quality business which led to Gross Margin expansion from 37.8% in FY24 to 51.5% in FY25 and EBITDA margin expansion from -7.1% in FY24 to 16.5% in FY25. The miss on the Revenue and EBITDA guidance is attributable to intense competition on the Ibuprofen range of products. We continued to do better than expected on the remainder of our portfolio. Our product mix continues to be healthy with a majority of Revenues coming from the Regulated markets. Going ahead, we will continue our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, optimizing working capital and debt as we pivot the organization from reset to growth." Result PDF
Pharmaceuticals company Solara Active Pharma Sciences announced Q3FY25 results Gross Margins at 55%; at historical levels Revenues at Rs 3,018 million; +21 % YoY Muted QoQ Revenue growth with a strong focus on margin expansion EBITDA margins at 19.6%, up by 180 bps QoQ and significant improvement YoY Maintaining full year FY25 EBITDA guidance of ~Rs 2,300 to Rs 2,600 million Poorvank Purohit, MD & CEO of the Company, remarked, “We are pleased with our Q3 performance. While our Revenues are muted for the quarter, our relentless focus on profitable growth resulted in Gross margins of 55.4% reaching the historical levels. This initiative includes letting go off certain non-profitable businesses which were bringing down our margin profile. As an outcome of course correction measures, the Company is pleased to report an improved EBITDA margin of 19.6% inching closer towards the Q4 exit quarter guidance. Our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, enhancing R&D; productivity, optimizing working capital and debt will continue to yield benefits. Our Regulated market revenues continue to be at 76% of total revenues. We are confident in continuing the growth momentum and are on track to continuously improve the quality of our earnings while strengthening our balance sheet.” Result PDF
Conference Call with Solara Active Pharma Sciences Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Solara Active Pharma Sciences announced Q2FY25 results Solara reports Q2FY25 Revenue at Rs 3,472 million. Gross margins at 50.5%; Significant improvement in Gross margins by 620 bps YoY and 600 bps QoQ returning to historical levels. EBITDA at Rs 616 million; with a growth of 46% QoQ and 61% YoY. Positive PAT at Rs 80 million. Poorvank Purohit, MD & CEO of the Company, said: “We are pleased with the positive outcomes of the course correction measures which we had initiated for the Company. The stated plan to return to growth, enhance profitability and reduce debt has made significant headway. Our efforts on the course correction measures are leading to favourable outcomes resulting in significant margin expansion, in line with the management outlook. The Company reports a strong growth of 46% QoQ and 61% YoY on EBITDA with an improved EBITDA margin of 17.7%. While our Revenues are down by 5% QoQ, our relentless focus on profitable growth resulted in Gross margins of 50.5%. Our Regulated market revenues continue to be at around 75% of total revenues. We are confident in continuing the growth momentum and are on track to continuously improving the quality of our earnings while strengthening our balance sheet. Our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, enhancing R&D; productivity, optimizing working capital and debt will continue to yield benefits in the coming quarters. We reaffirm our FY25 outlook for Revenue of ~Rs 15,000 million & the full year EBITDA of ~Rs 2,300 to Rs 2,600 million & Q4FY25 exit quarter Revenue ~Rs 4,000 million & EBITDA of ~Rs 800 to Rs 900 million with EBITDA margins of 20-22%". Result PDF
Pharmaceuticals company Solara Active Pharma Sciences announced Q1FY25 results: Solara reports an improved Q1FY25 performance with a Revenue of Rs 3,641 million with a growth of 21% QoQ and 3% YoY Adjusted EBITDA at Rs 502 million with a growth of 33% QoQ and 151% YoY Reported EBITDA at Rs 421 million with a growth of 276% QoQ and 111% YoY Company reaffirms FY25 guidance of Revenue ~Rs 15,000 million & the full year EBITDA ~Rs 2,300 to 2,600 million with Q4FY25 exit quarter Revenue ~ Rs 4,000 million & EBITDA of ~Rs 800 to Rs 900 million (EBITDA margins of 20-22%) During the quarter, Gross debt reduced from Rs 9,994 million to Rs 8,333 million; a reduction of Rs 1,661 million partly from the Rights issue and balance from Operations Partly paid-up Rights issue was fully subscribed during the quarter Company has strong focus on course correction measures including right sizing of inventory, free cash generation, cost optimization and improved gross margins. Our Net Debt to EBITDA guidance is ~3 times by Q4FY25. The Company is confident of beating the Net Debt to EBITDA guidance. Manish Gupta joins Solara Board as a Non-Executive Non-Independent Director Commenting on the financial performance, Poorvank Purohit, MD & CEO of the Company, remarked, “We are pleased with the course correction measures initiated for the Company, leading to favorable outcomes for Q1 with much improved EBITDA margins. We see growth both on a QoQ and YoY basis. The Company reports an improved performance in Q1FY25 with Q-o-Q Revenue growth of 21% and Reported EBITDA growth of 276%. Adjusted for the one-off costs which will not continue in H2’25, our Adjusted EBITDA stands at Rs 502 million with EBITDA margins of 13.8%. Our Regulated market revenues have reached its historical levels of around 75% of total revenues. Our Gross margins are slightly depressed but this is more on account of aggressive inventory reduction to improve our free cash generation and will normalize in H2’25. While we report an improved Q1 performance, we are confident that our ongoing actions on improving profitability through cost improvement programs, operating cost optimization, enhancing R&D; productivity, optimizing working capital and debt will yield benefits in the coming quarters. Another important highlight for the quarter was our partly paid-up Rights issue which was fully subscribed during the quarter. Furthermore, during the quarter, we reduced our debt from Rs 9,994 million to Rs 8,333 million; a reduction of Rs 1,661 million. We reaffirm our FY’25 guidance of Revenue of ~Rs 15,000 million & the full year EBITDA of ~Rs 2,300 to Rs 2,600 million & Q4FY25 exit quarter Revenue ~Rs 4,000 million & EBITDA of ~Rs 800 to Rs 900 million with EBITDA margins of 20-22%” Result PDF