Solara Active Pharma gallops after Sequent Scientific buys stake

Solara Active Pharma Sciences rose 4.16% to Rs 1095.85 after Sequent Scientific acquired 1.54% stake in the company during October-December 2021 quarter.

January 13, 2022 3:16 IST | capital market
As per the shareholding pattern for recently ended December 2021 quarter, Sequent Scientific held 5,52,083 shares, or 1.54% equity, of Solara Active Pharma Sciences.

In shareholding pattern of the company for September 2021 quarter, Sequent Scientifics name was not present in shareholders list.

As on December 2021, promoter & promoter group held 39.51% in Solara Active Pharma Sciences.

Solara Active Pharma Sciences is a pure-play global Active Pharmaceutical Ingredient (API) company. It traces its origins to the API expertise of Strides Shasun and the technical know-how of human API business from Sequent Scientific.

In 2018, Strides Shasun demerged its commodity API business and Sequent Scientific demerged its Human API business to form Solara Active Pharma Sciences.

Solara has 140+ scientists working at its two R&D centers and 5 API manufacturing facilities armed with global approvals and 2 dedicated R&D facilities.

Shares of Solara Active Pharma Sciences have risen 5.90% in two consecutive trading session.

In the past one year, the stock has fallen 9.20% while the benchmark Sensex has added 23.67% during the same period.

On a consolidated basis, net profit of Solara Active Pharma Sciences declined 47.57% to Rs 29.71 crore on 1.02% rise in net sales to Rs 401.61 crore in Q2 September 2021 over Q2 September 2020.

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