Solara Active Pharma Sciences Announces Demerger After Turning Profitable, Amidst FII Investment
Solara Active Pharma Sciences, a leading manufacturer and supplier of Active Pharmaceutical Ingredients (APIs), has announced plans to demerge its Crams and Polymers business. This announcement comes after the company reported a strong financial performance in the latest quarter, turning profitable after incurring a significant loss in the previous year.
Key Highlights:
- Profitability Turnaround: The company reported a profit of Rs 8.09 crore in the quarter ended December 2024, a significant improvement from the Rs 275 crore loss incurred in the same period last year.
- Revenue Growth: Sales surged 41.70% to Rs 300.31 crore in the December 2024 quarter compared to the previous quarter.
- FII Investment: Foreign Institutional Investors (FIIs) have been steadily increasing their stake in the company over the past three quarters. Their holdings rose from 14% in June 2024 to 14.67% in the most recent quarter.
- Promoter Pledging: While FII investment has been increasing, the level of promoter pledging has also risen. Currently, 40.74% of the promoter’s 37.23% stake is pledged, compared to 38% in the previous quarter.
- Demerger Plan: The company’s board has approved the demerger of its Crams and Polymers business, a strategic move aimed at unlocking value and enhancing operational efficiency.
Company Overview:
Solara Active Pharma Sciences is a key player in the pharmaceutical industry, specializing in the manufacturing and supply of APIs for various therapeutic areas, including antibiotics, anti-inflammatories, and anti-infectives. The company’s products are used by pharmaceutical companies to produce a range of medicines, including tablets, capsules, syrups, and injections.
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