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Buzzing stock: Solara Active Pharma Sciences hits all-time high

Apurva Joshi
/ Categories: Mindshare
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Buzzing stock: Solara Active Pharma Sciences hits all-time high

On Friday, the stock of Solara Active Pharma Sciences Limited zoomed 15.6 per cent, hitting its all-time level of Rs 1,542.05.  

Later, it closed in green, up by 11.24 per cent at Rs 1,485.50 from its previous close of Rs 1,335.45. In less than a year, the stock has recovered by 320 per cent from its 52-week low of Rs 366.80. In the month of January 2021, the company has delivered a return of approximately 31 per cent. 

The pharma companies performed well during the COVID-19 pandemic crisis and Solara Active is not an exception. It is well-reflected in its stock price over the past few months. 

The growth pillars of the company’s business are APIs and Contract Research & Manufacturing Services (CRAMS). It had filed four new DMFs in FY20, taking its new DMF count in the last two fiscals to 12, with different phases of the launch over the next few years. It also extended 6 APIs across eight new markets. Today, CRAMS accounts for 10 per cent of its total revenue pie. It has been in the process of inorganic acquisition, which would enhance further growth in that segment. 

On the financial front, its consolidated revenue for H1FY21 came in at Rs 745.98 crore as against Rs 681.3 crore in H1FY20, registering a 9.5 per cent YoY increase.  EBITDA grew by 37.8 per cent YoY to Rs 181.42 crore, with a corresponding margin expansion of 499 bps. PAT came in at Rs 98.96 crore as against Rs 55.38 crore in H1FY20, with a YoY increase of 78.7 per cent. 

The company is set to announce its December quarter result on February 3, 2021, i.e. post the announcement of Union Budget 2021-22.

Solara Active Pharma Sciences was formed by combining the demerged API business of Strides Pharma Science Limited (formerly known as Strides Shasun Limited) as well as the human API business of Sequent Scientific Limited into a separate entity. 

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