Solara Active Pharma Sciences said veteran banker Aditya Puri has joined its Board as the Chairperson.

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"Aditya Puri, Former MD of HDFC Bank and a senior advisor to a large PE fund, joins Solara Board as the Chairperson,” the company said in an exchange filing.

Puri will also head the Nomination and Remuneration Committee of the Board, the company added.

Rajender Rao, Founder of Aurore Life Sciences has joined as an Executive Director and Vice-Chairman Designate. The company’s founder Arun Kumar has also joined as a non-executive director.

Former Revenue Secretary Vineeta Rai and Kartheek Raju, a partner at iLabs group, have also joined the Solara board as non-executive directors. Rai will chair the CSR committee of the board.

Meanwhile, Solara Active Pharma reported 18.6 percent rise in Q1FY22 consolidated net profit at Rs 50.1 crore from Rs 42.3 crore in Q1FY21.

The company’s revenue rose 16.4 percent to Rs 405.6 crore from Rs 348.4 crore, YoY.

EBITDA during the quarter was up 9.1 percent at Rs 91.4 crore as against Rs 83.8 crore and EBITDA margin narrowed to 22.54 percent from 24.05 percent.

On Wednesday, the shares of Solara Active Pharma ended 2.70 percent lower at Rs 1,727.85 apiece on the BSE.

(Edited by : Aditi Gautam)