External broker reports(aggregated public sources), Axis Direct

Axis Direct

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External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Solara Active Pharma Sciences / Equity Bottom-Up

Solara Active Pharma Sciences (SOLARA IN)

<div><ul><li>Merger with Aurore has been cancelled - <span style="font-size: var(--content-font-size);">The company’s board has decided not to go ahead with the proposed merger with Aurore and instead intends to continue focusing on its core competency and organic growth.</span></li></ul><div><ul><li>Debt levels rise due to working capital loans - <span style="font-size: var(--content-font-size);">The company’s Net Debt to EBITDA ratio stands at ~10x in FY22. It increased to Rs 9,27 Cr in FY22 from Rs 4,08 Cr in FY21, primarily due to 1.) </span><span style="font-size: var(--content-font-size);">Fresh Term loan to support Capex across the locations 2.) Increased inventory build-up planned for Covid-19 related business 3.) Increase in KSMs and raw material inventories to offset the current market volatility.</span></li></ul><div><div><div><div><ul><li>However, the company is taking actions to structurally optimize inventory and right-size the working capital underway.</li></ul></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Merger with Aurore has been cancelled - The company’s board has decided not to go ahead with the proposed merger with Aurore and instead intends to continue focusing on its core competency and organic growth.Debt levels rise due to working capital loans - The company’s Net Debt to EBITDA ratio stands at ~10x in FY22. It increased to Rs 9,27 Cr in FY22 from Rs 4,08 Cr in FY21, primarily due to 1.) Fresh Term loan to support Capex across the locations 2.) Increased inventory build-up planned for Covid-19 related business 3.) Increase in KSMs and raw material inventories to offset the current market volatility.However, the company is taking actions to structurally optimize inventory and right-size the working capital underway.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Result Update - Solara Active Pharma Sciences Ltd