Solara Active Pharma Sciences Ltd - 541540 - Board Meeting Outcome for Outcome Of Board Meeting Held On January 25, 2023
Outcome of Board Meeting held on January 25, 202325-01-2023
25-01-2023
Q3FY23 Quarterly Result Announced for Solara Active Pharma Sciences Ltd.
Solara Active Pharma Sciences announced Q3FY23 results: Q3FY23: Quarterly Revenues stood at Rs 4,019 million, back to historical quarterly run-rate. Gross margins at 47.3% in Q3FY23 vs 44.2% in Q2FY23; QoQ Improvement in Gross margins by 308 bps. Reported EBITDA at Rs 510 million, EBITDA margins at 12.7%; QoQ Improvement in EBITDA margins by 392 bps. Reduction in under-recoveries at Vizag. Achieved positive PAT in Q3FY23. Commenting on the financial performance, Jitesh Devendra, Managing Director of the Company, remarked, “Q3FY23 is a turnaround quarter for Solara as we achieved most of the targeted goals when we embarked on the coursecorrection journey last year. We have returned to positive growth territory, and our base business is also trending to historical performance levels on the margins. While this reset journey has taken its time, on behalf of the promoters, the Board, and the management, we thank all our investors for reposing faith in the Company as we build out Solara for the future. We are on the right path of recovery. Our order book continues to improve each quarter, and cost improvement plans (CIPs) have started to deliver outcomes resulting in better profitability in the coming quarters. The investments we have made in new products since the inception of Solara are yielding results. We continue to invest in our R&D; for strengthening our generic API portfolio and CRAMS, to meet the growing demands for our existing products filed as part of increasing market share through market extensions, addressing regulatory requirements for new products. We have commenced commercial production at our Vizag facility resulting in a reduction of under-recovery. We are making good progress for regulatory accreditations for our Vizag facility first one being CEP approval for Ibuprofen. Overall, we have established a strong foundation which led to the improvements our business has shown, and we are very confident of the future ahead of us. We are pleased to announce that the Board has approved the appointment of Mr. Poorvank Purohit as Chief Executive Officer. Poorvank comes with 19+ years of strong B2B experience in both APIs and Finished dosage forms. He holds a strong, technical, commercial and management background. His experience will support Solara’s growth strategy.” Result PDF25-01-2023
Solara Active Pharma Sciences Ltd - 541540 - Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter Ended December 31, 2022.
Unaudited financial results (standalone and consolidated) of the Company for the quarter ended December 31, 2022. A copy of the unaudited financial results (standalone and consolidated) for the quarter ended December 31, 2022, along with the Limited Review Report by the Auditors and press release is attached.25-01-2023
Solara Active Pharma Sciences Ltd - 541540 - Announcement Under Regulation 30 (LODR) - Grant Of ESOP
In compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015, we wish to inform you that Nomination and Remuneration Committee of the Board at its meeting held today i.e., January 24, 2023, had approved the grant of 94600 ESOP options to eligible employees under the 'SOLARA EMPLOYEE STOCK OPTION PLAN - 2018'24-01-2023
Solara Active Pharma Sciences Ltd - 541540 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly note that the Company, as part of investors engagement activities, has scheduled a conference call with the investors and analysts on Wednesday, January 25, 2023, at 3:30 pm IST to discuss its Q3 financial results.19-01-2023
Solara Active Pharma Sciences Ltd - 541540 - Board Meeting Intimation for Consideration Of Unaudited Financial Results For The Quarter Ended December 31, 2022
Solara Active Pharma Sciences Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 25/01/2023 ,inter alia, to consider and approve the unaudited financial results (standalone and consolidated) of the Company for the quarter and nine months ended December 31, 2022, amongst other matters.19-01-2023
Solara Active Pharma Sciences Ltd - 541540 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
In compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, we are forwarding herewith a copy of Certificate received from M/s. CAMEO CORPORATE SERVICES LIMITED the Registrar and Share Transfer Agent of the Company, for the Quarter ended December 31, 2022.09-01-2023
Solara Active Pharma Sciences Ltd - 541540 - Closure of Trading Window
In accordance with the Company's Code of Conduct for Prohibition of Insider Trading, the trading window for dealing in the securities of the Company shall be closed for all Connected persons/Designated persons and their immediate relatives with effect from Sunday, January 01, 2023, till 48 hours from the date of declaration of unaudited financial results of the company for the quarter and nine months ended December 31, 2022.30-12-2022
Solara Active Pharma Sciences Ltd - 541540 - Reply Letter For Increase In Volume
We refer to your above mail seeking clarification on the significant increase in volume in the securities of the Company across exchanges in the recent past. We wish to clarify that Company has made all the required disclosures pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and has not withheld any material information/event that, in our opinion, would have a bearing on the price/volume behavior in the scrip.22-12-2022
Solara Active Pharma Sciences Ltd - 541540 - Clarification sought from Solara Active Pharma Sciences Ltd
The Exchange has sought clarification from Solara Active Pharma Sciences Ltd on December 22, 2022, with reference to Movement in Volume.The reply is awaited.22-12-2022