Solara Active Pharma Sciences Share Price

Solara Active

CMP as on 25-May-22 15:40

₹ 386.20
-14.40 -3.59%

Open

₹ 395.50

Turnover (lac)

₹ 359

Prev. Close

₹ 400.60

Day's Vol (shares)

₹ 92,870

Day's Range (₹)

₹ 382.00
₹ 410.00

CMP as on25-May-22 15:29

₹ 387.70
-13.05 -3.26%

Open

₹ 388.00

Turnover (lac)

₹ 72

Prev. Close

₹ 400.75

Day's Vol (shares)

₹ 14,066

Day's Range

₹ 384.40
₹ 407.90

Solara Active Pharma Sciences Ltd is a public limited Company incorporated in February 23, 2017 under the provisions of Companies Act, 2013 to undertake business in manufacturing, production, processing, formulating, sale, import, export, merchandising, distributing, trading of and dealing in active pharmaceutical ingredients (APIs). The companys shares were subsequently listed on the National Stock Exchange and Bombay Stock Exchange on 27 June 2018. The company has six APIs manufacturing plants located in Ambernath, Mangalore, Mysore, Puducherry, Vishakhapatnam, and Cuddalore with a capacity of over 2,000 kilo litres and two R&D Centres in Chennai and Bangalore. The business is spread across 75 countries globally with extensive operations in key markets of North America, Europe, Japan, South Korea, the Middle East and North Africa.During the year, the Companys wholly owned subsidiary Strides Chemicals Private Limited (Strides Chemicals) was amalgamated with the Company. The Honourable National Company Law Tribunal, Mumbai Bench, approved the Scheme of Amalgamation of Strides Chemicals with Company on December 20, 2019. Accordingly, the Company has fixed effective date for the Scheme is February 01, 2020. The appointed date for scheme is September 01, 2018. The Company has completed filing of necessary documents for giving effect to the Scheme. Consequent to amalgamation, the entire equity shares held by Company in Strides Chemicals stands cancelled.The Company has made the following allotment of equity shares pursuant to conversion of warrants on preferential issue vide Circular Resolution dated 01-09-2020 during the financial year under review: a) 15,00,000 Equity Shares with face value of Rs 10/- each at a price of Rs 400/- per share including premium of Rs 390/- per share to Arunkumar Pillai, Promoter bearing distinctive numbers 2,68,63,268 to 2,83,63,267.b) 14,00,000 Equity Shares with face value of Rs 10/- each at a price of Rs 400/- per share including premium of Rs 390/- per share to Karuna Business Solutions LLP, a promoter group entity bearing distinctive numbers 2,83,63,268 to 2,97,63,267.c) 17,00,000 Equity Shares with face value of Rs 10/- each at a price of Rs 400/- per share including premium of Rs 390/- per share to SRJR Enterprise LLP, a promoter group entity bearing distinctive numbers 2,97,63,268 to 3,14,63,267.d) 40,00,000 Equity Shares with face value of Rs 10/- each at a price of Rs 500/- per share including premium of Rs 490/- per share to TPG Growth IV SF Pte. Ltd bearing distinctive numbers 3,14,63,268 to 3,54,63,267.The acheivements received by the company in FY 2020-21 were as follows:The Ambernath facility received Certificate of Merit from National Safety Council, Maharashtra for Lowest Average Accident Frequency Rate. They improved EcoVadis Score from 31 to 47 and was awarded a bronze medal in recognition of Sustainability achievement. The Mangalore site of company was certified for ISO 14001 and ISO 45001. Besides, they conducted a Red Tag Event to identify unsafe conditions and acts to make workplace injury nd incident free. All employees and contractors actively participated in the event.The Board of Directors of Company at its meeting held on April 09, 2021 have approved Scheme of Amalgamation for merger of Aurore Life Science Private Limited, Empyrean Lifesciences Private Limited and Hydra Active Pharma Sciences Private Limited (Transferor companies) into the Company (Transferee Company) in terms of Section 230 to 232 of the Companies Act, 2013. The Scheme is subject to necessary statutory and regulatory approvals including the approvals of National Company Law Tribunal, the shareholders and creditors of each of the companies. The appointed date for the said scheme of amalgamation is April 01, 2021 or such other date as may be agreed between the Transferor Company and Transferee Company and approved by National Company Law Tribunal.The companys new Greenfield plant situated at SEZ unit, Plot No.:3B,3C,3D, Part 2 and 2A-1, APIIC APSEZ, Atchutapuram Village, Rambilli Mandal, Visakhapatnam - 531011, Andhra Pradesh, has commenced commercial production in 2021.The Board at its meeting held on February 3, 2021 has approved to acquire 4,87,000 additional share capital in Sequent Penems Private Limited, subsidiary company of Solara. Subsequent to year end, the said transaction is completed and Sequent Penems Private Limited is wholly owned subsidiary of Company with effect from April 27, 2021.The Issued, Subscribed and Paid-up Equity share capital of the Company as on March 31, 2021, stood at Rs 35,92,97,670/- divided into 3,59,29,767 equity shares of Rs 10/- each. There has been increase in the Paid-up share capital of the Company during the financial year on account of allotment of 86,00,000 equity shares by conversion of warrants and 4,74,500 equity shares consequent to exercise of stock options by employees..

  • Independent Director

    Nirmal P Bhogilal
  • Independent Director

    RAJAGOPALAN RAMAKRISHNAN
  • Independent Director

    Kausalya Santhanam
  • Company Secretary

    S Murali Krishna
  • Independent Director

    Ronald Tjeerd De Vries
  • Director

    Ankur Nand Thadani
  • Executive Director & CFO

    Subhash Anand
  • Managing Director & CEO

    Bharath R Sesha
  • Additional Director

    Aditya Puri
  • Independent Director

    Vineeta Rai

Registered Office

201 Devavrata Sector 17 Vashi,
Navi Mumbai,Mumbai,
Maharashtra-400703

REGISTRAR OFFICE

Subramanian Building,
Club House Road,Chennai - 600002
INDIA