Analysts/Institutional Investor Meet/Con. Call Updates

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 4344 6700 Fax: +91 44 47406190 E-mail: investors@solara.co.in Website: www.solara.co.in Date: July 29, 2026 The BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Bandra-Kurla Dalal Street, Mumbai – 400 001 Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 541540, 890202 Symbol : SOLARA, SOLARAPP1 Dear Sir / Madam, Subject: Transcript of the earnings conference call for the quarter ended June 30, 2026. Pursuant to Regulation 30 and Regulation 46(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of earnings conference call for the quarter ended June 30, 2026, conducted on Thursday, July 23, 2026, after the meeting of Board of Directors. The above information is also available on the website of Company at: https://solara.co.in/investor- relations/investor-update This is for your kind information and records. Thanking you, Yours faithfully, For Solara Active Pharma Sciences Limited Pooja Jaya Kumar Company Secretary and Compliance Officer ICSI Membership No.: A57415 Encl.: As above Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636 Registered Office: 9th Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22- 20870033 “Solara Active Pharma Sciences Limited Q1 FY27 Earnings Conference Call” July 23, 2026 MANAGEMENT: MR. SANDEEP RAO – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER– SOLARA ACTIVE PHARMA SCIENCES LIMITED MR. SARAT KUMAR – CHIEF FINANCIAL OFFICER– SOLARA ACTIVE PHARMA SCIENCES LIMITED MR. ABHISHEK SINGHAL – INVESTOR RELATIONS - SOLARA ACTIVE PHARMA SCIENCES LIMITED Page 1 of 16 Solara Active Pharma Sciences Limited July 23, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Solara Active Pharma Sciences Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek. Thank you, and over to you, sir. Abhishek Singhal: Thank you, Anushka. Good afternoon, and thank you all for joining us today for Solara Earnings Call for Q1 FY27. Today, we have with us Sandeep, MD and CEO and Sarat, CFO of the company to share the highlights of the business and financials for the quarter. I hope you've gone through our results release and the quarterly investor presentation that have been uploaded on our website as well as the stock exchange website. The transcript of this call will be available in a week's time on the company's website. Please note that today's discussion will be forward-looking in nature and must be viewed in relation to risks pertaining to our business. After the end of the call, in case you have any further questions, please feel free to reach out to the Investor Relations team. I now hand over the call to Sandeep to make his opening comments. Sandeep Rao: Thank you, Abhishek. Firstly, good evening, and thank you, for all who are joining in the call today on our Q1 27 Earnings call. I sincerely appreciate your time and your presence on this call. As you must have seen, Q1 FY27 has been another quarter of stellar execution. Our overall revenues stand at INR384 crores, up 20% year-on-year. EBITDA stands at INR63.5 crores, which is up 10% year-on-year. Our PAT is at INR16.3 crores, which is up 55% year-on-year. This is the highest EBITDA and PAT that we have achieved in the last 18 quarters. These results underscore the strength of our core business. It is an outcome of disciplined execution. It also shows that continued focus on profitable growth. Now coming to the base business. Our base business continues to exhibit strong momentum, supported by consistent operational execution. And I reiterate the focus on profitable growth. Our base business revenues stand at INR307 crores, up 24% year-on-year. Gross margins was at INR158 crores, up 10% year-on-year and EBITDA at INR72 crores, up 8% year-on-year. In spite of all the cost pressures we face, resulting from higher raw material prices, which was triggered by the ongoing geopolitical developments in West Asia. The sustained performance of the base business reinforces our confidence in our long-term growth potential. Now coming to the commodity Ibuprofen business, this business continues to face profitability challenges. We reported an EBITDA margin of negative 12% amidst what we think is a difficult operating environment. While profitability remains under pressure, we witnessed a marginal sequential improvement during the quarter. Now looking forward, looking ahead, we remain committed to building on this strong foundation by driving sustainable profitability growth enhancing our margins. Page 2 of 16 Solara Active Pharma Sciences Limited July 23, 2026 And creating long-term value for all our stakeholders through a combination of disciplined execution, operational excellence and prudent capital allocation. Despite the significant headwinds driven by the West Asia crisis and its impact on all global businesses, the underlying fundamentals of our base business continue to remain strong, supported by a sound operating model and a healthy product mix across regulated markets. I would like to thank our shareholders again for your continued support and your continued faith and trust in Solara. With this, I will now hand over to Sarat, our CFO, for his opening remarks. Sarat Kumar: Thank you, Sandeep. Good morning, good afternoon, and warm good evening, ladies and gentlemen, and thank you for joining in today's Q1 FY '27 earnings call for Solara Active Pharma Sciences Limited. As shared by Sandeep, despite facing headwinds driven by the ongoing West Asia crisis, which led to significant challenges in terms of input cost pressures as well as supply chain challenges with respect to raw material availability. The overall business has recorded a strong quarterly result in Q1 '27 with the business recording its highest EBITDA and PAT in the previous 18 quarters. Although our gross margins were marginally lower on a Q-on-Q basis, driven by the raw material pricing and supply challenges, which was actually triggered by the West Asia crisis, the business has delivered an EBITDA margin of 17% with an absolute EBITDA value of INR635 million, which reflects an improvement in EBITDA margin by 80 basis points Q-on-Q in addition to what Sandeep already mentioned that we have grown a 10% Y-o-Y basis. As a business, we continue to focus our efforts on operating cost leverage and margin expansion in our pursuit of chasing incremental business growth at a healthier margin profile. Our ongoing efforts on strengthening the balance sheet has led to a reduction of net debt by roughly INR135-odd crores during the quarter, which reflects around 22% reduction in the net debt, roughly INR100 crores of that coming in from the final call money of the rights issue realized in May '26 and the balance INR35 crores were delivered from our operational cash flows. As we speak, our net debt as on 30th of June stands at roughly INR479 crores, which reflects a net debt-to-EBITDA multiple of roughly 1.9x considering the annualized Q1 EBITDA numbers what we have reported. Further, we have a line of sight to reduce the debt to sub INR450 crores, somewhere around close to INR440-odd crores by end of March '27., considering the scheduled repayments what we have for the debt, which will further improve the net debt-to-EBITDA multiple to roughly 1.7x considering the Q1 annualized run ra [Showing first 8,000 characters — download PDF for full document]