Solara Active Pharma Sciences Limited has informed the Exchange about Transcript of earnings conference call pertaining to financial results of the Company for the quarter and year ended March 31, 2026.
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Solara Active Pharma Sciences reported its strongest quarter in 8 quarters with Q4 FY26 revenue of INR 392 crores (up 12% Q-o-Q), gross margins at 47%, and EBITDA of INR 61 crores (up 65% Q-o-Q). The company clarified that performance reflects structural improvements, not one-off factors. Management stated they have 70% capacity utilization with 30% spare capacity available. The ibuprofen business continues to be a drag with negative EBITDA, and bankers have been appointed to evaluate strategic options with a decision expected in H1 FY27. The company reduced debt by ~21% (INR 158 crores) in FY26 through rights issue proceeds and operational cash flows, targeting to become debt-free by FY29. R&D efforts have been revived with plans to file 4-5 DMFs annually, with commercial impact expected from FY29-30.
The strong Q4 performance and margin improvement signal operational turnaround, but the continued ibuprofen drag and lack of formal growth guidance may limit immediate re-rating. Debt reduction progress is positive for balance sheet quality.