Solara Active PHA SCI Ltd
NSE: SOLARA · Pharmaceuticals · sector
₹634.55NSE close 2026-10-26
Key numbers
Market cap₹3,056 cr
Price₹634.55
52w high / low₹774 / ₹422
P/E82.8xSector median 27.9x
P/B2.1xSector median 2.9x
Book value₹298.2
Dividend yield–Sector median 0.48%
ROE2.8%Sector median 11.7%
ROCE6.3%Sector median 12.3%
OPM14.6%Sector median 14.0%
Debt / equity0.40xSector median 0.16x
EV/EBITDA15.9xSector median 18.6x
Interest cover1.4x
Current ratio1.32x
Sales growth 3y-1.8%Sector median +9.6%
Profit growth 3y–Sector median +13.3%
PEG0.17x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹53 cr vs borrowings ₹665 cr (FY26): borrowings are higher by ₹611 cr.
- Borrowings fell in each of the last 3 years (₹1,001 cr → ₹665 cr).
- Operating profit covered interest 1.4x in the last 12 months.
- 52.02% of the promoters' shares are pledged (21.8% of all shares).
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Net loss in 3 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 21% of net profit in the last 12 months.
- Debtor days went from 99 (FY24) to 117 (FY26).
- Dividend paid in 1 of the last 5 financial years.
- Price ₹634.55 on 2026-10-26: -18.0% from the 52-week high, +50.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹810.50 · low ₹428.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 300 | 273 | 319 | 314 | 349 | 387 | 382 | 417 |
| EBITDA | 58 | 45 | 57 | 35 | 31 | 59 | 62 | 72 |
| OPM % | 19.2% | 16.6% | 17.9% | 11.1% | 8.8% | 15.1% | 16.2% | 17.3% |
| Other income | 1 | 6 | 1 | 0 | 0 | 5 | 3 | 1 |
| Net profit | 8 | -2 | 11 | -10 | -17 | 10 | 16 | 28 |
| EPS (₹) | 2.03 | -0.93 | 2.46 | -2.36 | -3.98 | 2.20 | 3.52 | 5.92 |
| Revenue YoY | +16.2% | +41.9% | +19.6% | +33.1% | ||||
| Profit YoY | -315.5% | – | +55.0% | – |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,268 | 1,444 | 1,289 | 1,284 | 1,369 | 1,535 |
| EBITDA | 76 | 134 | -285 | 206 | 181 | 223 |
| Net profit | -58 | -22 | -567 | 1 | -7 | 37 |
| EPS (₹) | -16.18 | -6.16 | -157.62 | 0.14 | -1.68 | 7.66 |
| Revenue growth | +13.8% | -10.7% | -0.4% | +6.6% | +27.3% | |
| Profit growth | – | – | – | -1,472.2% | +476.3% | |
| Dividend / share (₹) | 3.00 | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -1.8% | -3.3% | +27.3% |
| Net profit | – | – | +476.3% |
| EPS | – | – | – |
| Share price | – | -11.2% (2y) | +8.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,500 | 934 | 1,094 | 1,253 |
| Borrowings | – | 1,001 | 1,000 | 776 | 665 |
| Cash & equivalents | – | 9 | 9 | 4 | 53 |
| Total assets | – | 2,899 | 2,351 | 2,232 | 2,333 |
| Fixed assets | – | 921 | 858 | 739 | 793 |
| Capital work in progress | – | 238 | 256 | 280 | 205 |
| Investments | – | 2 | 2 | 2 | 2 |
| Receivables | – | 537 | 349 | 327 | 439 |
| Inventory | – | 558 | 360 | 318 | 318 |
| Payables | – | 306 | 313 | 249 | 274 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -242 | 156 | 109 | 213 | 153 |
| Cash from investing | -243 | -81 | -4 | -37 | -99 |
| Cash from financing | 334 | -113 | -106 | -180 | -54 |
| Capex | 209 | 111 | 41 | 40 | 53 |
| Free cash flow | -451 | 45 | 68 | 173 | 100 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -1.5% | -60.8% | 0.0% | -0.6% |
| ROCE % | – | 1.8% | -19.8% | 6.2% | 4.6% |
| Debtor days | – | 136 | 99 | 93 | 117 |
| Inventory days | – | 258 | 163 | 185 | 169 |
| Payable days | – | 142 | 142 | 145 | 146 |
| Cash conversion cycle (days) | – | 252 | 120 | 133 | 140 |
| Working capital days | – | 22 | -129 | -61 | -10 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 41.93% |
| FIIs | 10.71% |
| DIIs | 3.89% |
| of which Mutual funds | 0.87% |
| Government | 0.00% |
| Public (non-institutions) | 43.46% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | May 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 37.94% | 42.01% | 42.01% | 42.00% | 42.00% | 42.00% | 41.93% | 41.93% |
| Promoter group | % |
|---|---|
| Devicam Capital LLP | 15.47% |
| Pronomz Ventures LLP | 9.71% |
| SRJR Enterprise LLP | 3.52% |
| Arun Kumar Pillai | 3.46% |
| K R Ravishankar | 2.75% |
| Chayadeep Ventures LLP | 2.10% |
| Agnus Capital LLP | 1.76% |
| Chayadeep Properties Private Limited | 1.09% |
| Agraganya Private Trust (Trustee: Barclay Wealth Trustees (I) PVT Ltd) | 1.08% |
| Karuna Business Solutions LLP | 0.14% |
| Deepa Arun Kumar | 0.12% |
| Padmakumar Karunakaran Pillai | 0.11% |
| Aditya Arun Kumar | 0.11% |
| Sajitha Pillai | 0.11% |
| Tarini Arun Kumar | 0.11% |
| Public holders above 1% | % |
|---|---|
| Authum Investment and Infrastructure Limited | 3.78% |
| Spiracca Ventures LLP. | 3.54% |
| HBM Healthcare Investments (Cayman) Ltd | 2.17% |
| Mauryan India Fund | 1.62% |
| Route ONE Offshore Master Fund, L.P. | 1.44% |
| The Scottish Oriental Smaller Companies Trustplc | 1.44% |
| Raptakos, Brett and Co. Ltd. | 1.33% |
| Fssa Indian Subcontinent Fund AS SUB Fund of First Sentier Investors Global Umbrella Fund PLC | 1.18% |
| Turnaround Opportunities Fund | 1.01% |
70,905 shareholders. Pledged: 52.02% of promoter shares.
Peers in Pharmaceuticals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | ₹4,17,478 cr | 34.5x | 5.0x | 15.5% | 18.7% | 28.6% | +10.0% | 0.94% |
| DIVISLAB | ₹2,39,825 cr | 82.1x | 14.3x | 18.4% | 23.0% | 34.7% | +10.8% | 0.34% |
| TORNTPHARM | ₹1,53,999 cr | 72.7x | 18.4x | 27.3% | 15.1% | 32.3% | +13.3% | 0.84% |
| ZYDUSLIFE | ₹1,15,808 cr | 25.9x | 4.3x | 17.7% | 16.8% | 27.2% | +16.4% | 0.95% |
| LAURUSLABS | ₹1,11,232 cr | 101.6x | 21.0x | 22.4% | 20.8% | 28.0% | +4.1% | 0.08% |
| CIPLA | ₹1,09,464 cr | 32.5x | 3.2x | 10.3% | 13.2% | 17.7% | +7.4% | 1.18% |
| DRREDDY | ₹1,09,460 cr | 33.9x | 2.9x | 9.0% | 10.1% | 15.5% | +11.0% | 0.61% |
| MANKIND | ₹95,486 cr | 46.7x | 5.9x | 13.4% | 13.8% | 25.1% | +17.7% | 0.04% |
| AUROPHARMA | ₹91,489 cr | 24.9x | 2.4x | 10.5% | 12.8% | 20.0% | +10.6% | 0.26% |
| SOLARA | ₹3,056 cr | 82.8x | 2.1x | 2.8% | 6.3% | 14.6% | -1.8% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-17 | Other | Annual General Meeting |
| 2024-05-15 | Rights | Rights 1:3 @ Premium Rs 365/- |
| 2023-09-08 | Other | Annual General Meeting |
| 2022-08-12 | Other | Annual General Meeting |
| 2021-08-18 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2020-11-19 | Dividend | Interim Dividend - Rs 4 Per Share |
| 2020-07-28 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2019-08-06 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
| 2018-09-18 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY22
- Annual report FY21
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Active Pharmaceutical Ingredients: Design and manufacturing of APIs across therapeutic categories complex products and polymer based APIs
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | SOLARA |
| BSE code | 541540 |
| ISIN | INE624Z01016 |
| Face value | ₹10.0 |
| Incorporated | 2017-02-23 |
| Website | www.solara.co.in |
| Plants (India / abroad) | 6 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.