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.
ICICI Securities Report
Solara Active Pharma Science Ltd. has reported better-than-estimated result in Q4 FY22 led by business recovery, which achieved ~90% of normalised revenue.
Revenue, Ebitda profit after tax declined ~19%, ~86% and ~97%, respectively, on a YoY basis. However, sequentially, revenue grew ~260% on an impacted base of Q3 FY22 which was on account of inventory adjustment.
Solara Active Pharma announced withdrawal of merger with Aurore Life Sciences Pvt. Ltd. due to subdued performance of both the entities.
While we believe near-term performance would remain under pressure due to business volatility, cost inflation and withdrawal of Aurore merger, sharp correction in stock (down 34% from Q3 result and 49% in last six months) has priced in most concerns.
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