EBITDA stood at Rs 200 crore in Q1 FY24, registering the growth of 11% as compared with Rs 181 crore posted in same quarter last year. EBITDA margin was at 5.6% in Q1 FY24 as against 5.4% in Q1 FY23.

Poorvank Purohit, MD& CEO, said, “Our current priorities are to stay focused and moving forward from what we had achieved in the last fiscal year. We continue to work on our key strategic priorities, which included resetting and concentrating the base business, restoring R&D velocity, addressing under-recoveries at our newly commissioned Vizag site, and expanding into new products and geographies.

We are happy with the outcome of the USFDA inspection at our Cuddalore facility with Zero 483 inspectional observations. The result of these inspections demonstrates our commitment to regulatory excellence at our global manufacturing sites and our relentless focus on world-class quality and compliance.”

Solara Active Pharma Sciences engaged in the business of manufacturing, production, processing, formulating, sale, import, export, merchandising, distributing, trading of and dealing in active pharmaceutical ingredients.