Solara Active Pharma Sciences Limited — Investor Meet, 10-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Solara's Q3 FY26 revenue grew 10% QoQ to INR346 Cr, but gross margins fell to 47% (EBITDA INR37 Cr) due to significant headwinds in the ibuprofen business. This segment is struggling with overcapacity and pricing pressure. In contrast, the non-ibuprofen growth API business achieved a healthy 56% gross margin and 25% EBITDA. Management is evaluating strategic options for the struggling ibuprofen segment, delaying other corporate actions. Debt reduced by INR146 Cr. The company plans to convert the mothballed Vizag plant into a multipurpose facility and is investing in R&D to support high-margin growth APIs. Management acknowledged challenges but expressed confidence in the revamped strategy and growth segments.