Solara Active Pharma Sciences Ltd

Meeting Details

• Date/time: Friday, 16 October 2026, 4:00 PM IST.
• Meeting type/mode: Conference call – group meet (virtual).
• Event/organiser: Solara conference call for analysts/investors.

Purpose

• Discuss unaudited Q2 FY27 results for quarter and half-year ended Sept 30, 2026.

Participants

• Key company participants: MD & CEO; CFO.

Availability

• Presentation materials will be available on the company IR site.

PAN/KYC update for physical holdings

• Reminder letters dispatched Sept 26, 2026; submit PAN, KYC, bank details and nomination to Cameo RTA.

Solara Active Pharma Sciences Limited: Trading window closed from October 1, 2026 till 48 hours from the date of declaration of financial results of the Company for the quarter and half year ending September 30, 2026.

agm details

• Ninth AGM held Sept 18, 2026 at 10:30 AM IST via video conference.
• All AGM notice items transacted; resolutions passed with requisite majority.
• Voting conducted through remote e-voting and on-site meeting.

resolutions and outcomes

• Adoption of Audited Consolidated Financial Statements: Ordinary, approved.
• Appointment of Arun Kumar Pillai as Non-Executive Director by rotation: Ordinary, approved.
• Ratification of remuneration payable to Cost Auditor for FY2026-27: Ordinary, approved.
• Material Related Party Transactions with Strides Pharma: Ordinary, approved.

dividend

• Dividend: not proposed or declared.

material related party transactions

• Counterparty: Strides Pharma; Nature: RPT; Value: up to Rs 48 crores.

AGM Details

• Date and time: 18 September 2026, 10:30 AM to 11:40 AM IST.
• Mode: held via video conferencing.

Resolutions Put to Vote

• Adoption of Audited Standalone Financial Statements for FY ended 31 March 2026 (Ordinary Resolution).
• Adoption of Audited Consolidated Financial Statements for FY ended 31 March 2026 (Ordinary Resolution).
• Appointment of Arun Kumar Pillai as Non-Executive Director (retiring by rotation) (Ordinary Resolution).
• Ratification of remuneration payable to the Cost Auditor for FY 2026-27 (Special Resolution).
• Approval for Material Related Party Transactions with Strides Pharma Science Limited up to Rs 480 crores (Special Resolution).

Voting Status

• Voting results to be declared by Sep 22, 2026; posted on company and RTA websites.

Director Changes

• Appointment of Arun Kumar Pillai as Non-Executive Director (retiring by rotation).

Auditors & Related Matters

• Cost Auditor remuneration ratified for FY 2026-27.

Tax rectification outcome

• Rectification order under Section 154/147 reduces demand from Rs 161.92 crore to Nil.
• Rectification order received on August 08, 2026.
• Authority: Assistant Commissioner of Income Tax, Central Circle-3, Thane.
• Applicable Assessment Year: 2019-20.
• No remaining demand; no impact on financials or operations.
• No aberrations, non-compliances, or penalties identified.
• No further action required by the company.

Subject & scope

• BRSR FY2025-26 filed; standalone reporting for Solara Active Pharma Sciences Limited.

Governance

• No separate sustainability committee; CEO oversees ESG.

ESG performance

• Renewable energy share accounts for 81% of total electricity.
• Total Scope 1+2 emissions: 37,336 tCO2e; intensity 0.0000027 per ₹ turnover.

Water & waste

• Water withdrawal total 381,529 KL; STEW water included.
• Zero Liquid Discharge implemented at 5 of 6 sites.
• Water intensity 0.000019 KL/₹ turnover.
• Total waste generated 27,208 MT; hazardous waste 26,499 MT.
• Recycled waste 22,457 MT; landfilled 532.54 MT; incinerated 73.57 MT.

Financial snapshot

• FY2025-26 standalone revenue ₹1,374.87 cr; consolidated ₹1,375.14 cr; up ~7% YoY.
• Standalone EBITDA ₹192.57 cr; consolidated EBITDA ₹192.91 cr.
• Standalone PAT ₹(7.24) cr; consolidated PAT ₹(7.41) cr.
• Base API revenue ₹1,041 cr; Ibuprofen revenue ₹334 cr; base EBITDA ₹245 cr.
• 75% of revenue from regulated markets; 3 USFDA audits across sites in FY2025-26.
• Rights issue proceeds ₹309.8 cr by 31-Mar-2026 used to reduce debt.
• Net debt declined to ₹614 cr (standalone) from ₹772 cr; gearing improves to 0.51x.
• Renewable energy share ~81% of total energy; energy intensity 69.9 kJ/₹ turnover.
• Employees ~1,700; CSR expenditure ₹0.76 cr; energy and water sustainability emphasis.

Business model and footprint

• Six state-of-the-art API manufacturing facilities in India with global regulatory approvals.
• R&D centre in Chennai; 50+ scientists; diversified API development and manufacturing capabilities.
• Global reach across 60+ countries; more than 60 commercial APIs; differentiated polymer/inorganic capabilities.
• Base API portfolio driving regulated-market growth; strong regulatory track record and customer relations.
• Facility approvals include USFDA, EU GMP, PMDA; robust quality and regulatory compliance.

Portfolio and growth priorities

• Over 60 commercial APIs; pipeline of 50+ products in development.
• Strategic focus on differentiated, high-value APIs and regulated markets.
• Key therapeutic segments include pain management, anti-infectives, anti-malarials, anaesthetics, and anticonvulsants.
• Strategic R&D and process-chemistry innovations to improve efficiency and scale-up.
• Strategic expansion and operational excellence to reduce commodity exposure and volatility.

Ibuprofen business and strategic actions

• Ibuprofen segment faced pricing pressures and oversupply; revenue grew modestly.
• Board initiated comprehensive strategic review of Ibuprofen business; external advisors appointed.
• Polymers and CRAMS carve-out plans kept on hold pending strategic review outcomes.

Capital structure and liquidity

• Rights issue raised ₹309.8 cr; funds utilized for debt reduction and working-capital needs.
• Net debt declined to ₹614 cr; debt reductions aided by rights-issue proceeds.
• Consolidated borrowings ₹664.5 cr; net debt ₹636.2 cr; net debt/Equity 0.51x.
• Cash and cash equivalents: standalone ₹4.0 cr; consolidated ₹4.48 cr.

Governance, risk and controls

• Board comprises 8 directors; 4 independent; independent chair; governance framework robust.
• Independent Directors met on 6 Feb 2026; governance and information flow reviewed.
• Auditors: Deloitte Haskins & Sells LLP; Secretarial Auditor; Internal Auditor; Cost Auditor appointed.
• Significant related-party transactions with Strides Pharma; board approved material RPTs up to ₹480 cr.

ESG, CSR and sustainability

• CSR spend ₹0.76 cr; focus on health, safe drinking water, and education.
• Energy transition with ~81% renewable energy; STEW water reuse and water stewardship initiatives.
• BRSR governance; aim for top-quartile EcoVadis performance and Silver medal milestone.
• Sustainability investments include process improvements, waste reduction, and circularity initiatives.

AGM and shareholder matters

• Ninth AGM scheduled for 18 September 2026 via VC/OAVM.
• Remote e-voting window from 15 Sep to 17 Sep 2026; special and ordinary resolutions to be considered.
• Rights issue and related party transactions disclosed; related party approval sought as per SEBI rules.

AGM Details

• Ninth AGM on Friday, 18 September 2026 at 10:30 AM IST via Video Conference/Other Audio-Visual Means.
• Record date for voting eligibility: Friday, 11 September 2026.
• Remote e-voting opens on Tuesday, 15 September 2026 at 9:00 AM IST; ends Thursday, 17 September 2026 at 5:00 PM IST.
• E-voting platforms: CDSL/NSDL; participation via VC/OAVM; deemed venue is the Company’s Registered Office.
• No physical attendance; proxies not available for the VC/OAVM AGM.

Resolutions Put to Vote

• Ordinary: Adoption of Standalone Financial Statements for the year ended 31 March 2026.
• Ordinary: Adoption of Consolidated Financial Statements for the year ended 31 March 2026.
• Ordinary: Re-appointment of Arun Kumar Pillai as Non-Executive Director (retires by rotation).
• Special Business (Ordinary Resolution): Ratification of Cost Auditor remuneration for FY2027 at ₹4.75 lakh plus taxes/expenses.
• Ordinary: Approval of material Related Party Transactions with Strides Pharma Science Limited up to ₹480 crore.

Dividend

• Dividend: Board did not recommend a final dividend for the financial year 2025-26.

Director Changes & Appointments

• Mr. Kartheek Chintalapati Raju resigned as Non-Executive Director on 5 November 2025.
• Mr. Mohan Muthunarayanan resigned as Whole-Time Director and Chief Operating Officer on 31 December 2025.
• Mr. Mohanraj Sanjeevi appointed Additional Executive Director from 1 January 2026; approved as Whole-Time Director on 6 March 2026.
• Ms. S. Murali Krishna ceased as Company Secretary & Compliance Officer on 15 May 2025; Ms. Pooja Jaya Kumar appointed.
• Mr. Sandeep Shashikantha Rao appointed Managing Director & CEO on 21 February 2025.

Auditors & Related Appointments

• Statutory Auditor: Deloitte Haskins & Sells LLP, under 4-year term to 2029.
• Secretarial Auditor: Parimala Natarajan appointed for 5-year term (April 2025–March 2030).
• Internal Auditor: Grant Thornton Bharat LLP for FY2025-26.
• Cost Auditor remuneration for FY27 proposed: ₹4.75 lakh plus expenses and taxes.

Material Related Party Transactions

• Material RPT with Strides Pharma Science Limited up to ₹480 crore, to be approved.
• RPT scope includes sale of goods, sale of services, purchase of goods/services, reimbursements, and lease.

Other Material Approvals / Notes

• Rights issue proceeds up to ₹312.79 crore raised to date; second call outstanding ₹2.17 crore.
• ESOP details and other governance disclosures are provided in the Annual Report.