---
title: "Solvay Pharma India Ltd(merged) (532447) — Share Price, Financials & Analysis"
symbol: "532447"
company: "Solvay Pharma India Ltd(merged)"
canonical: "https://tapetide.com/stocks/532447"
isin: "INE593D01010"
bse_code: "532447"
sector: "Healthcare"
industry: "Pharmaceuticals & Biotechnology"
generated_at: "2026-09-13T18:58:28.745Z"
---

# Solvay Pharma India Ltd(merged) (532447)

Canonical page: https://tapetide.com/stocks/532447

## Company

- **BSE Code:** 532447
- **ISIN:** INE593D01010
- **Sector:** Healthcare
- **Industry:** Pharmaceuticals & Biotechnology
- **Macro Sector:** Healthcare
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** solvaypharma.co.in

## About

Solvay Pharma India Limited(merged), incorporated in India, listed on the Bombay Stock Exchange, the company is engaged in tablets, capsules, syrups, etc.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Company has delivered good profit growth of 22.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.5%
- Company has been maintaining a healthy dividend payout of 31.1%
- Debtor days have improved from 25.1 to 18.6 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 30% | 22% | 23% |
| revenue growth | 22% | 21% | 18% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 11.88 | 30.66 | 16.09 | 11.5 | 5.51 | 15.59 | 10.22 | 8.34 | 8.04 | 16.44 | 8.92 | 10.53 |
| Expenses | 19.16 | 25.42 | 15.54 | 14 | 9.04 | 14.21 | 13.06 | 11.49 | 14.84 | 16.31 | 10.18 | 10.51 |
| Operating Profit | -7.28 | 5.24 | 0.55 | -2.5 | -3.53 | 1.38 | -2.84 | -3.15 | -6.8 | 0.13 | -1.26 | 0.02 |
| OPM % | -61.28 | 17.09 | 3.42 | -21.74 | -64.07 | 8.85 | -27.79 | -37.77 | -84.58 | 0.79 | -14.13 | 0.19 |
| Other Income | 4.3 | 0.72 | 3.01 | 3.5 | 0.98 | 1.61 | 2.3 | 1.05 | 4.99 | 2.2 | -0.68 | 0.54 |
| Interest | 0.44 | 0.13 | 0.08 | 0.08 | 0.25 | 0.1 | 0.09 | 0.11 | 0.26 | 0.08 | 0.11 | 0.06 |
| Depreciation | 0.8 | 0.48 | 0.48 | 0.52 | 0.53 | 0.5 | 0.51 | 0.45 | 0.59 | 0.44 | 0.52 | 0.06 |
| Profit before tax | -4.22 | 5.35 | 3 | 0.4 | -3.33 | 2.39 | -1.14 | -2.66 | -2.66 | 1.81 | -2.57 | 0.44 |
| Tax % | -21.33 | 15.33 | -31 | 290 | -44.44 | 12.97 | 21.93 | 0 | -219.92 | -96.13 | 47.47 | -22.73 |
| Net Profit | -3.32 | 4.53 | 3.93 | -0.76 | -1.85 | 2.09 | -1.4 | -2.65 | 3.19 | 3.55 | -3.8 | 0.54 |
| EPS in Rs | -2.24 | 3.06 | 2.66 | -0.51 | -1.25 | 1.41 | -0.95 | -1.79 | 2.16 | 2.4 | -2.57 | 0.36 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2005 | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 130 | 144 | 167 | 202 | 242 | 295 |
| Expenses | 99 | 113 | 123 | 156 | 183 | 222 |
| Operating Profit | 30 | 31 | 44 | 46 | 59 | 73 |
| OPM % | 23 | 21 | 26 | 23 | 24 | 25 |
| Other Income | 3 | 4 | 4 | 6 | 5 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 5 | 5 | 1 | 3 | 3 |
| Profit before tax | 28 | 30 | 43 | 50 | 61 | 76 |
| Tax % | 36 | 37 | 34 | 35 | 34 | 33 |
| Net Profit | 18 | 19 | 28 | 33 | 40 | 51 |
| Dividend Payout % | 17 | 22 | 72 | 27 | 41 | 25 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2005 | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 63 | 77 | 82 | 104 | 125 | 161 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 21 | 26 | 32 | 48 | 41 | 54 |
| Total Liabilities | 89 | 108 | 119 | 157 | 172 | 220 |
| Fixed Assets | 10 | 7 | 4 | 2 | 38 | 36 |
| CWIP | 0 | 0 | 0 | 35 | 0 | 0 |
| Investments | 7 | 14 | 40 | 17 | 16 | 37 |
| Other Assets | 72 | 87 | 74 | 103 | 118 | 148 |
| Total Assets | 89 | 108 | 119 | 157 | 172 | 220 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2005 | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 17 | 15 | 27 | -7 | 70 | 27 |
| Cash from Investing Activity | -6 | -6 | -24 | 1 | -9 | -17 |
| Cash from Financing Activity | -3 | -4 | -19 | -12 | -15 | -12 |
| Net Cash Flow | 8 | 6 | -17 | -17 | 46 | -2 |
| Free Cash Flow | 17 | 14 | 24 | -34 | 59 | 26 |
| CFO/OP | 91 | 91 | 92 | 27 | 152 | 74 |

### Ratios

| Item | Dec 2005 | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 36 | 36 | 36 | 33 | 24 | 19 |
| Inventory Days | 113 | 136 | 118 | 240 | 116 | 165 |
| Days Payable | 94 | 107 | 89 | 134 | 74 | 87 |
| Cash Conversion Cycle | 56 | 65 | 66 | 140 | 66 | 96 |
| Working Capital Days | 44 | 47 | 34 | 82 | 33 | 49 |
| ROCE % | — | 39 | 51 | 51 | 50 | 51 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 67.23% | 63.85% | 63.85% | 63.95% | 63.95% | 63.95% | 63.96% | 63.96% | 63.96% | 63.96% |
| FIIs | 0.56% | 0.75% | 0% | 0% | 0.03% | 0.17% | 0.02% | 0.05% | 0.05% | 0% |
| DIIs | 5.65% | 5.98% | 0.2% | 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% |
| Public | 26.56% | 29.42% | 35.96% | 36.05% | 36.01% | 35.87% | 36.03% | 36% | 35.98% | 36.03% |
| No. of Shareholders | 21168 | 22297 | 22645 | 21118 | 22241 | 24165 | 23270 | 21952 | 23780 | 22525 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% | 63.96% |
| FIIs | 0.02% | 0% | 0.02% | 0% | 0.05% | 0% | 0% | 0% | 0.05% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 36.03% | 36.05% | 36.04% | 36.05% | 36% | 36.04% | 36.04% | 36.04% | 35.98% | 36.03% | 36.03% | 36.03% |
| No. of Shareholders | 23270 | 23194 | 22754 | 22271 | 21952 | 22321 | 24751 | 24250 | 23780 | 23422 | 23052 | 22525 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jan - Certificate under reg 74(5) of SEBI (DP) Regulation,2018 for the Quarter ended on 31st December 2025 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 9 Jan - Certificate under reg 74(5) of SEBI (DP) Regulation,2018 for the Quarter ended on 31st December 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6296096b-4db0-4481-a915-72c3efa4e83a.pdf) |
| 4 Feb - Board meeting Feb 13, 2026 to approve unaudited Q3 results for quarter ended Dec 31, 2025. | [Board Meeting Intimation for Board Meeting Intimation For Board Meeting Intimation Under Regulation 29 SEBI(LODR) 2015 4 Feb - Board meeting Feb 13, 2026 to approve unaudited Q3 results for quarter ended Dec 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5425d85c-324c-48aa-82f1-9af0d70bfeea.pdf) |
| 28 Feb - Executive Director Vindamuri Giri Raj resigned effective 28 February 2026, citing personal reasons. | [Announcement under Regulation 30 (LODR)-Change in Management 28 Feb - Executive Director Vindamuri Giri Raj resigned effective 28 February 2026, citing personal reasons.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/586c4baf-df55-466d-ac3a-bddcc201cb0b.pdf) |
| 28 Feb - Executive Director Vindamuri Giri Raj (DIN:09719564) resigned effective 28 Feb 2026. | [Announcement under Regulation 30 (LODR)-Resignation of Director 28 Feb - Executive Director Vindamuri Giri Raj (DIN:09719564) resigned effective 28 Feb 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6925c7f1-fb57-4ee1-9159-5de85fa3091c.pdf) |
| 13 Feb - Q3 FY26 results approved: revenue Rs1,053.28L, PAT Rs269.68L; limited review completed. | [Board Meeting Outcome for OUTCOME OF BOARD MEETING 13 Feb - Q3 FY26 results approved: revenue Rs1,053.28L, PAT Rs269.68L; limited review completed.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/33b17b6c-085e-4b7b-9d49-ba6c3d57881f.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d3a13f4a-7822-4bda-bf93-ee39dfcda8cd.pdf) |
| — | [Outcome Of Financial Results For December 2025 Quarter 13 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a11708f0-6189-41b2-80ff-83a16080b081.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/54600e8a-b2c2-4bdb-92d7-3591882e139b.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7c9909f2-0714-4888-9402-24c5303cfd27.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e1482dc8-c056-4e22-8ba1-25101d1c9b23.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/76139533343.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/70858533343.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/5333430320.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/5333430319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/5333430318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/5333430317.pdf) |
| from bse | [Financial Year 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/533343/5333430316.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:28.745Z.