Solara Active Pharma Sciences Ltd (Solara) (NSE: SOLARA; BSE Code: 541540), a leading Active Pharmaceutical Ingredient provider today announced the financial results for the first quarter (Q1FY20).
- Revenues at Rs. 3,345 Mn up by 10% YoY with 42% YoY growth in EBITDA to Rs. 663 Mn
- 3x growth in PAT to Rs. 265 Mn in Q1FY20
- Reported highest ever EPS in a quarter at Rs. 10.29
- Demonstrated >20% operating EBITDA margins sequentially for three quarters in a row
Commenting on the performance, Jitesh Devendra, MD and CEO said "We are pleased to start the financial year with a satisfying performance. While we reported a 10% YoY growth in revenues, we had a significant 42% growth in EBITDA, resulting in a 3x growth in PAT and an EPS of Rs. 10.29. That said, the performance was partially offset by the seasonality, and we expect to stay on course to achieve our yearly revenue and profitability guidance.
On the operational front, we are happy to have sustained our compliance record as our Cuddalore facility clears an FDA inspection with zero 483s. This is our third successive zero 483 inspection for Solara in the last three quarters.
We continue to see green shoots in the industry and remain focussed on "growth through efficiency" which is our theme for the ongoing financial year."
Shares of Solara Active Pharma Sciences Ltd was last trading in BSE at Rs.417.1 as compared to the previous close of Rs. 382.3. The total number of shares traded during the day was 12982 in over 904 trades.
The stock hit an intraday high of Rs. 425.55 and intraday low of 378. The net turnover during the day was Rs. 5251296.