Solara Active Pharma Sciences Announces Board Reshuffle, New CHRO Appointment, and Management Changes

Solara Active Pharma Sciences Limited , a prominent player in the Active Pharmaceutical Ingredient (API) sector, has announced significant changes to its board composition, senior management team, and key appointments.

Board Reshuffle and Committee Reconstitution

The company reported that Mr. Kartheek Chintalapati Raju has stepped down from his position as Non-Executive Director, citing preoccupation and personal commitments. Consequently, he has also relinquished his roles in the Stakeholders Relationship Committee and Nomination and Remuneration Committee.

In response to these changes, Solara Active Pharma Sciences has reconstituted its board committees:

Stakeholders Relationship Committee:

Role	Name
Chairperson	Dr. Kausalya Santhanam (Independent Director)
Member	Mr. Sandeep Shashikantha Rao (Executive Director)
Member	Mr. Manish Gupta (Non-Executive Director)

Nomination and Remuneration Committee:

Role	Name
Chairperson	Mr. Rajendra Kumar Srivastava (Independent Director)
Member	Dr. Kausalya Santhanam (Independent Director)
Member	Mr. R Ramakrishnan (Independent Director)
Member	Mr. Rajiv Vijay Nabar (Independent Director)

The company expressed its appreciation for Mr. Raju's contributions during his tenure.

New Chief Human Resources Officer Appointed

Solara Active Pharma Sciences has appointed Mr. Mohanraj S as the new Chief Human Resources Officer (CHRO) and designated him as Senior Management Personnel. The appointment was approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee.

Mr. Mohanraj brings over 30 years of cross-industry experience to the role, with expertise spanning Pharma, Biotech, Engineering, Aerospace, Apparel, and Media sectors. His career includes leadership positions at Mylan Laboratories, The Manipal Group, and Tata Advanced Materials. His areas of expertise encompass Talent Management, Employee Relations, Organizational Development, HRIS, and Digital Transformation.

Mr. Mohanraj holds a Masters in Social Work (HRM) from Madras University and a BA in Behavioural Sciences from St. Josephs College, Bangalore. He is also a certified ISO auditor and has served on the Board of Studies for Industrial Relations at St. Josephs University for two decades.

As Solara's HR head, Mr. Mohanraj will be responsible for leading people strategy, culture transformation, and governance to align HR with the company's long-term business goals.

Additional Management Changes and Remuneration Revisions

The Board of Directors has made several other key decisions:

Mr. Sarat Kumar Asuri, the current Chief Financial Officer, has been appointed to the additional role of Chief Investor Relations Officer.
The Board approved a revision in remuneration for Whole-time Director Mohan Muthunarayanan. This revision is within the previously approved shareholder limits and aligns with the company's remuneration policy guidelines.
Remuneration for eligible Senior Management Personnel has been revised.
The company's existing Risk Management Policy was reviewed and confirmed.

These changes reflect Solara Active Pharma Sciences' commitment to strengthening its leadership structure and aligning management incentives with company performance and shareholder interests.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.42%	-5.79%	-5.74%	+17.36%	-29.25%	-43.36%

Solara Active Pharma Sciences Limited (Solara), a leading active pharmaceutical ingredient (API) manufacturer, has reported its financial results for the second quarter. The company faced significant challenges, resulting in a net loss and decreased revenue.

Financial Performance

Solara's Q2 performance was marked by a notable downturn compared to the same period last year:

Metric	Q2 Current Year	Q2 Previous Year	YoY Change
Revenue	₹3.14 billion	₹3.47 billion	-9.5%
EBITDA	₹347.30 million	₹613.10 million	-43.4%
EBITDA Margin	11.08%	17.67%	-659 bps
Net Profit	₹(101) million	₹80 million	-

The company reported a net loss of ₹101 million, compared to a profit of ₹80 million in the same quarter of the previous year. Revenue declined to ₹3.14 billion from ₹3.47 billion year-over-year.

Operational Performance

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) dropped significantly to ₹347.30 million from ₹613.10 million in the corresponding quarter of the previous year. The EBITDA margin compressed to 11.08% from 17.67%, indicating pressure on the company's operational efficiency.

Challenges and Outlook

While specific reasons for the downturn were not provided in the update, the significant decline in profitability and revenue suggests that Solara Active Pharma Sciences faced substantial operational challenges during the quarter. The company may need to address these issues to improve its performance in the coming quarters.

Investors and stakeholders will likely look for guidance from the management on strategies to return to profitability and improve operational metrics in the near future.