Sharekhan has given Buy recommendation for Solara Active Pharma Sciences with a target price of Rs. 1700 in its research report issued on Feb 03, 2021

Sharekhan’s research report on Solara Active Pharma Sciences

Solara delivered its best-ever quarterly performance for Q3FY2021 with revenues and earnings staging an impressive 24% and 59% y-o-y, growth respectively. Given the strong demand traction and ramp up of the Vizag plant (Phase I), strong new product launches, especially in the limited competition space augur well from a growth perspective. The company’s strong growth prospects, better earnings visibility, healthy balance sheet, and improving return ratios would support multiple expansion.

Outlook

We retain our Buy recommendation on Solara Active Pharma Sciences (Solara) with a revised PT of Rs. 1700.

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