SOLARA ACTIVE PHARMA SCIENCES LIMITED — AGM Information 2021

Aug 1, 2021

Communication Address: Solara Active Pharma Sciences Limited Batra Centre

No. 28. Sardar Patel Road. Post Box 2630 Guindy. Chennai - 600 032. India Tel : +91 44 43446700. 22207500 Fax : +91 44 22350278 E-mail : investors@solara.com www.solara.co.in

August 1, 2021

The BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 Scrip Code: 541540

The National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex Sandra (E), Mumbai - 400 051 Scrip Code: SOLARA

Dear Sir/ Madam,

Sub: Newspaper advertisement titled “Notice of 4[th] Annual General Meeting and E-voting information”.

Please find enclosed copies of the newspaper advertisement titled ‘Notice of 4th Annual General Meeting and E-voting information’. The advertisements appeared in Business Standard and Lokmat (Marathi version).

This is for your information and records.

This will also be hosted on the Company’s website, at www.Solara.co.in

Thanking you, Yours Truly,

For Solara Active Pharma Sciences Limited

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S. Murali Krishna Company Secretary

Enclosed: - Newspaper clippings

Solara Active Pharma Sciences Limited - CIN : L24230MH2017PLC291636

REGD. OFF: 201, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 / Fax: 91-22-2789 2942

6 ECONOMY & PUBLIC AFFAIRS ~~>~~

MUMBAI | 31 JULY 2021

RBI lets 10-yr bond yields rise as it gears up for monetary policy

UStoholdrare2nd lotteryforH-1Bvisa

PRESSTRUSTOFINDIA Washington,30July

India,USrenew development partnership dealfor5years

NewpaperwaslaunchedonJuly9bytheRBIat6.1%;onFriday10-yearyieldclosedat6.2%

In what can be good news for ANUP ROY Mumbai,30July LOOSENING GRIP tocheapaid rate,the governmentbut at the sameborrowtime,at ita hundreds of Indian informa-tion technology (IT) profes- partnership he Reserve Bank of India (RBI) 10-yearG-secyield(%) hashappyto keepat a thetimedomesticwhen theinvestorsglobal sionals seeking the H-1B workvisa, the US' immigration dealfor5years is allowing the 10-year bond investors are withdrawing their debt agencyhasdecidedtoconduct IndiaandtheUSonFriday T yield to align with market realinvestment from India. Since fiscal a rare second lottery for the renewedforanotherfiveyears ities, ahead of its monetary policy 2018-19, foreign investors have been most sought-after visas to aglobaldevelopment next week. net sellers of Indian debt. decideonthesuccessfulapplipartnershipagreementthat This is a different strategy than The bond market, therefore, will cants who could not make it providesforjointlyoffering what played out until last month, keenlywatchthepolicymeasuresthat in the first random selection. The move will provide assistancetotheirpartner where the central bank seemed more the RBI would introduce in the policy The US Citizenship and another chance to hundreds countriesinareasof focused on keeping the 10-year bond next week. Generally, a liquidity norImmigrationServices(USCIS) of Indian IT professionals, connectivity,tradeand yields at 6 per cent. The logic given malisation measure would be bond said on Thursday that a deci- who could not make it in the investments,healthcareand by senior executives at that time was market negative, dealers say. sionwastakenafterdetermin- first random selection agriculture.Bothsidessigned that the 10-year bond has more “On both foreign exchange and ing that the computerised thesecondamendmenttothe impact on the entire yield curve and G-Sec yield levels, the stated line of drawoflotsforH-1Bvisascondepend on it to hire tens of StatementofGuiding so the focus could be disproportionthe RBI is that they let market forces ducted early this year did not thousands of employees each PrinciplesonTriangular ately higher. play out, only that movements givethemenoughnumbersof year from countries like India CooperationforGlobal However, bond dealers say that the Source: Bloomberg should be orderly. In G-Sec primary the Congressional mandated andChina.“WerecentlydeterDevelopment,theMinistryof line of action may have ended with auctions lately, we are not seeing as H-1B visas. mined that we needed to ExternalAffairs(MEA) said. the last benchmark 10-year, most of yieldcurve,”saidDebendraDash,senmarket reflect a true picture of the much devolvement or cancellation The H-1B visa, the most select additional registrations Theagreementwassignedin which landed in the books of the RBI ior vice-president at SU SFB. economy, say bond dealers. But econas we have seen earlier,” said sought-after among Indian IT to reach the FY22 numerical November2014andthefresh due to intervention. With this, the 10-year bond has omists say the tension between the Joydeep Sen, consultant fixed professionals, is a non-immiallocations. On July 28, we amendmentextendedthe The 10-year bond yields closed at again garnered trading volume in market and the RBI would continue income at Phillip Capital. grantvisathatallowsUScomselectedpreviouslysubmitted pact'svalidityupto2026. 6.204 per cent on Friday. The new 10the secondary market. The new as both would try to test each others’ Earlier, the RBI sometimes refused panies to employ foreign electronic registrations using "IndiaandUSwillcontinueto year bond was launched on July 9 at benchmark is the third-most traded tolerance limit. to sell bonds, but recently, it is devolvworkers in speciality occupaa random selection process,” offercapacitybuilding 6.1 per cent, which itself was a high security in the bond market, where“Yields are calibrating with the ing them on the primary dealers. This tions that require theoretical theUSCISsaidinastatement. assistancetopartnercountries coupon offered to the market. as the last benchmark was barely domestic growth-inflation dynamics, means, underwriters of the auctions or technical expertise. “The petition filing period inmultiplesectors,focusing At the start of the month, the yield getting traded as the sixth most. which is healthy. Though the global are being sold the bond, instead of TheH-1Bvisahasanannubasedonregistrationsselected primarilyonagriculture, on the older benchmark was at 6.039 The outstanding against the latest yields are reasonably benign, the directly to bidders. These bonds end al numerical limit cap of on July 28 will begin on regionalconnectivity,trade per cent. As bond prices fall, yields benchmark is just ~28,000 crore. As resurgenceofCovidcasesisanimporup coming back to the market. 65,000visaseachfiscalyearas August 2 and close on andinvestments,nutrition, rise, and vice-versa. more bonds are issued on the paper, tant factor to watch out for,” said In Friday’s auction, the RBI mandated by Congress. The November 3. Individuals with health,cleanandrenewable “The 10-year bond was trading at the 10-year should be back as the Soumyajit Niyogi, associate director devolved ~7,465 crore of the benchfirst 20,000 petitions filed on selectedregistrationswillhave energy,womenempowera premium earlier (yields were lower) most-traded security in the market, of India Ratings and Research. mark five-year bond, out of ~11,000 behalf of beneficiaries with a their myUSCIS accounts ment,disasterpreparedness, due to the RBI’s intervention. With litbond dealers say. However, the rise in yields ahead crore on offer. Overall, in the aucUS master's degree or higher updatedtoincludeaselection water,sanitation,education tle intervention, the RBI is now allowLight intervention warns speculaof the policy puts some pressure on tion, the RBI raised ~35,000 crore are exempt from the cap. notice, which includes details andinstitutionbuilding,"the ing the 10-year to readjust with the tors, and at the same, helps the bond the RBI. It wants to keep yields low from the market. Technology companies of when and where to file.” MEAsaid. PTI

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~~N Q1 REPORT CARD N~~

IndianOilnetprofitjumps threefoldto~6,000crore

BandhanBank profitdown32%

Expectsdieseldemandtoreachpre-CovidlevelbyDiwali

Expectsdieseldemandtoreachpre-CovidlevelbyDiwali PRESSTRUST OF INDIA STOCK DOWN (~) New Delhi, 30 July TWESHMISHRA mobility. The demand for Change NewDelhi,30July dieselisdownaspublictransBandhan Bank on Friday -0.4% port still remains restricted in reported 32 per cent decline The country’s top refiner, parts of the country. in net profit at ~373.10 crore Indian Oil Corporation (IOC), India’s fuel demand is yet for June quarter 2021-22 as onFridayreportedconsolidatto recover. While Liquefied provisions for bad loans ed net profit of ~6,109.69 crore Petroleum Gas (LPG) conspiked. for the June quarter, a rise of sumption is well above 2019 Thebankhadpostedanet 174 per cent over ~2,226.80 levels,petrol,dieselandjetfuel profit of ~ 549.80 crore in the Source: Bloomberg crore in the year-ago period. trail. The higher LPG demand same quarter a year ago. Compiled by BS Research Bureau Consolidated total income ispresumablybecauseofmore "In the first quarter, we advances as of June 30, 2021 was~90,775.15 crore last year.~1.5 trillion, up from EDGING HIGHER peoplestayingathome.Petrol,diesel and jet fuel consumphad slippages and there wasno write-off. In the same from2020. 1.4 per cent by June “ThehigherprofitismainIndianOilfinancial tion are lower as people conperiod of the previous finanNet NPAs (or bad loans) ly on account of inventory snapshot (in~cr) tinuetoavoidinessentialtravel cial year, there were no slipalso jumped to 3.3 per cent gains and better petrochemiTotalincome Totalexpenses and commute. pages, and the banking from 0.5 per cent. Provisions calmarginsduringthecurrent Netprofit Vaidya said the joint venindustry was given moratofor bad loans and contingenperiod,” according to a comture (JV) between IndianOil rium on repayment of loans," cies rose to ~1,374.87 crore in pany statement. and Malaysia’s Petronas will MD and CEO of Bandhan the quarter from ~849.06 IOC Chairman Santosh be expanded to cover more Bank, Chandra Sekhar crore parked aside in the Vaidya said: “The gross refinbusinesses. “Currently the Ghosh said. year-ago period. erymargins(GRM),orgainper business is only limited to Virtually addressing jourGhosh said the bank had barrel of crude oil processed, LPG. We have now extended nalists, Ghosh said, the restructured some of the was at $ 6.58 per barrel in the our cooperation to retailing bank's performance was very accounts and hoped that regperiodunderreview.Thisisup petrol and diesel, as well as challenging in the first quarular payments will start once from (-) $1.98 a barrel in the natural gas,” he said. ter of the current fiscal, due normal business activity same months of the financial Vaidya said there will be to the second wave of the resumes. year 2020-21.” “The core GRM Q1FY21 Q1FY22 separatebrandedfuelretailing pandemic. He said, bank employees forthecurrentperiodafteroffoutlets under the JV, adding The rural and semi-urban were unable to go to cussetting inventory loss/gain 2,226.80 6,109.69 the JV will enter the natural areas were adversely impacttomers for collecting instalcomes to $2.24 per barrel.” On a consolidated basis Source: BSE filing gas retailing business. edduringthisperiod,hesaid. ments since the outbreak of On fuel demand, Vaidya The IndianOil Petronas Total income however Covid-19. saidheexpectsittoreachprecentandIexpecttogetitback retail business would not was up 20.4 per cent at “However, we have seen Covid-19 levels by Diwali to pre-Covid levels by Diwali. come at the cost of IOC’s mar~2,647.50 crore in the quarter an improvement in collec(November4)thisyear.“Petrol We may have to wait till the ket share. On the current as against ~2,198.30 crore in tion performance in the first demand has crossed pre-panend of the current financial crudeoilprices,hesaidaprice the year-ago period, the bank quarter of the current fiscal,” demic levels; we are currently year to get Aviation Turbine bandof$60to$70abarrelwill said in a regulatory filing. Ghosh added. nearly 3 to 5 per cent more Fuel to come back to normal.” be better for India. Shares of Bank's gross non-perBandhan Bank stock setthan pre-Covid levels. Diesel Vaidya said this is because IOC closed at ~103.20 apiece, forming assets (NPAs) spiked tled 0.43 per cent up at demand is around 88-90 per of preference for personal down0.67percentontheBSE. to 8.2 per cent of gross ~291.30 on BSE.

‘ESGwillplaybigroleinthelongterm’

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Last month, rating agency CRISIL launched its environmental, social and governance (ESG) scores for India’s top225 companies across 18 sectors. The scores are based on information available in public domain, including those from third-party providers. ASHU SUYASH , managing director and CEO, CRISIL, tells Krishna Kant why ESG score is the best measure of long-term sustainability of businesses. Edited excerpts:

theownershipofthefirms,thatis,

ASLOWVACCINATIONANDA POTENTIALLYVIRULENTTHIRD WAVEARETHEBIGGEST HEADLINERISKSINFY22.THE INDIANECONOMYANDTHE CORPORATESECTORCOULDALSO BECHALLENGEDBYAFASTERTHAN-EXPECTEDINTERESTHIKE BYTHEUSFEDANDARALLYIN COMMODITYANDENERGYPRICES

family-ownedversusMNCsorPSUs? The level of disclosure plays a bigger role in ESG score than the ownership. It’s not that a family-owned firm will score lower on ESG than an institutional-owned one, or an MNC. PSUs for example, have scored lower, largely due to the limited presence of independent directors and frequent changes in board composition.

WhatriskscanyouseefortheIndian economyinFY22? A slow vaccination and a potentially virulent third wave are the biggest headline risks in FY22. However, the Indian economy and the corporate sector could also be challenged by a faster-than-expected interest hike by the US Fed and a rally in commodity and energy prices.

Whyshouldweworryabouta company’sESGscoreaswell? The last one and a half years have been tough for businesses, with economic and human pain inflicted by the pandemic bringing sustainability to the fore. This is where ESG factors come into play. It is the best measure of sustainability of businesses in the long term. The pandemic is not yet over and businesses continue to face other long-term issues such as climate change. That’s why I think ESG will play an even bigger role in decision making. Six ESG funds launched in India in 2020 collected nearly ~3,600 crore from investors.

these translate into superior finan- Everycompanywouldliketoscore cial performance. There can be a pos- highonESG,butdoesn’titrequire itive correlation in ESG scores and investmentthatmaybebeyondthe corporate performance. reachofsmallcompanies? Companies with high ESG Butisthereasectoral score can get capital at a lower biasinthe cost. Many smaller companies performanceofESG100 that were reluctant to make companies. ASHU SUYASH investments on the ESG side It’s true that companies MD & CEO, CRISIL have realized that they may in resource intensive become uncompetitive in the sectors — thermal power, metals, longer term, if they don’t take it sericement & energy — will have a lower ously. Besides, it is likely that a smallaverage ESG scores on account of er company may have access to pools high emissions and resource use. of capital — equity or debt — from However, despite these constraints, providers focused towards energy some of the leading companies in efficiency or social initiatives. And in these resource- and emission-intenour survey, 86% of the companies sive sectors outperform the average consider ESG as an important factor ESG scores of services sectors, indifor their capital-raising plans. cating that some of the stronger companies are able to overcome sector- Doyoualsoseeanyperceptible specific constraints. differenceinESGscoreaccordingto

Howdothesefactorschange CRISIL’soutlookforIndia’sGDPin FY22?

As of now, we are staying with the estimate of 9.5 per cent growth in FY22. Our growth outlook provided by August looks reasonable with the economic activity going back to the level seen in February and March this year. However, if the third wave turns out to be severe, resulting in lockdowns in major parts of the country, then GDP growth may be lower than our estimates. Amid all this, the strong recovery in global economy is the silver lining.

DoestheESGscorealsoreflectonthe financialperformanceof companies? Companies with high focus on ESG factors perform better than their peers. They are able to manage risks better than others, and are able to spot new opportunities better. All

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