Solara Active Pharma Q1 Review – Below Estimate, Outlook Intact: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Solara Active Pharma Science Ltd.’s reported Q1 FY22 performance was below estimate due to demand pressure in some products including Ibuprofen in the regulated markets and temporary shutdown of plants due to Covid-19.

Consolidated revenues grew 16.4% to Rs 4.1 billion led by strong growth in non-regulated markets, Ebitda margin was down 160 basis points YoY but flat QoQ to 22.5% due to lower proportion of regulated markets and adjusted profit after tax grew 19.9% to Rs 507 million.

We remain positive on the long term outlook considering presence only in the active pharma ingredient and contract research and manufacturing services space thereby removing any potential conflict with clients, maintaining large market share in key products, strong regulatory track record places Solara Active Pharma in a strong position to monetise the growing API business opportunities which would be augmented by the potential merger with Aurore Life.

Click on the attachment to read the full report:

ICICI Securities Solara Activa Pharma Q1FY22 Results Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button