Solara Active Pharma Sciences Limited has appointed Mr. Ajit Manocha as its Chief Information Officer (CIO), effective August 10, 2026. The appointment was approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee. Mr. Manocha will form part of the Senior Management Personnel of the company from the aforementioned date.

Mr. Ajit Manocha is a global technology and Life Sciences transformation leader with over 33 years of experience driving digital transformation across pharmaceuticals, CRDMOs, manufacturing, and other regulated industries. His expertise includes aligning technology strategy with business goals, leading enterprise-wide SAP and S/4HANA transformations, and implementing Industry 4.0, IoT, cybersecurity, and AI/ML/Generative AI initiatives.

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that Mr. Manocha has extensive experience working with Boards and senior leadership on technology strategy, cyber risk, and governance, ensuring the protection of intellectual property and data integrity in highly regulated environments.

Appointment Details

Solara Active Pharma Sciences reported a 55% year-on-year increase in profit after tax (PAT) to ₹163 million for the quarter ended June 30, 2026, marking the highest EBITDA and PAT recorded in the last eighteen quarters. Overall revenue rose 20% to ₹3,843 million, while EBITDA grew 10% to ₹635 million. The strong performance was driven by the base business, which excludes the commodity Ibuprofen segment, with revenues increasing 24% to ₹3,077 million. The company reduced its net debt by ₹1,346 million during the quarter to ₹4,795 million, resulting in a net debt-to-EBITDA ratio of approximately 1.9 on an annualised basis.

Base Business Performance

The base business demonstrated robust growth despite input cost pressures from geopolitical developments in West Asia. Revenues reached ₹3,077 million, up 24% from ₹2,487 million in the corresponding period of the previous year. EBITDA for the segment stood at ₹722 million, an 8% year-on-year increase, with margins at 23.5%. Gross margins were reported at 51.3%, supported by regulated markets contributing over 75% of revenues.

Ibuprofen Business and Overall Metrics

The Ibuprofen business continued to face profitability challenges, reporting an EBITDA loss of ₹87 million on revenues of ₹765 million. Management is evaluating strategic options for this business and expects to finalise next steps by the end of Q2FY27. Consequently, the previously approved demerger of the CRAMS and Polymers business has been put on hold.

Balance Sheet and Debt Reduction

The company’s net worth improved to ₹10,419 million as of June 30, 2026, up from ₹8,880 million in March 2026. Debt reduction efforts included the repayment of ₹1,000 million from rights issue proceeds and ₹346 million from operational cash flows. Solara expects net debt to reach approximately ₹4,406 million by March 2027, with a net debt-to-EBITDA ratio of around 1.7 times.