Solara Active Pharma Sciences Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Solara Active Pharma Sciences has completed the sale of 100% stake in SeQuent Penems to Symbio Generrics India for a cash consideration of Rs.12.50 crore on 25 April 2024. Hence, SeQuent Penems ceased to be a subsidiary of the Company.

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The Board of Solara Active Pharma Sciences at its meeting held on 25 March 2024 has approved the sale of 100% shareholding in SeQuent Penems, a wholly owned subsidiary of the company.

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Baskaran has also been designated as key managerial personnel as on the same date.

Arun Kumar Baskaran has over 18 years of professional career in handling budgeting, forecasting, MIS preparation, mergers & acquisition, financial modelling, fund raising, setting up new projects, capex appraisal, cost optimization. He has been with the organization for more than 10 years.

Baskaran is a Mechanical Engineering Graduate from Mepco Schlenk Engineering College, Sivakasi and has completed Masters in Business Administration with specialization in finance from ICFAI Business School (Hyderabad).

Solara Active Pharma Sciences engaged in the business of manufacturing, production, processing, formulating, sale, import, export, merchandising, distributing, trading of and dealing in active pharmaceutical ingredients.

The company reported consolidated net loss of Rs 275.34 crore in Q3 FY24 as against a net profit of Rs 0.45 crore in Q3 FY23. Revenue from operations declined 37% YoY to Rs 248.73 crore in the quarter ended 31 December 2023.

Shares of Solara Active Pharma Sciences ended 1.71% higher at Rs 429.45 on Thursday, 7 March 2024.

The domestic market is closed today, on account of Mahashivratri.

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Net loss of Solara Active Pharma Sciences reported to Rs 275.34 crore in the quarter ended December 2023 as against net profit of Rs 0.45 crore during the previous quarter ended December 2022. Sales declined 36.99% to Rs 248.73 crore in the quarter ended December 2023 as against Rs 394.75 crore during the previous quarter ended December 2022.

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