Communication Address: Solara Active Pharma Sciences Limited 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: [email protected] www.solara.co.in

Keelakottaiyur Village, Melakottaiyur (Post)

August 28, 2024

The BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra-Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051

Scrip Code: 541540, 890202 Scrip Code: SOLARA, SOLARAPP

Dear Sir/Madam,

Sub: Business Responsibility and Sustainability Report for the FY 2023-24

Ref: Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

Pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Circular No. SEBI/HO/CFD/CMD-2/P/CIR/2021/562 dated May 10, 2021, we submit herewith the Business Responsibility and Sustainability Report for the FY 2023-24.

The report is also being filed online in XBRL format for the FY 2023-24.

The said report shall also be available on Company’s website at https://solara.co.in/investor - relations/general meeting

This is for your information and records.

Thanking You,

Yours Faithfully,

For Solara Active Pharma Sciences Limited

SUDDAPALLI Digitally signed by SUDDAPALLI MURALIKRISHNA MURALIKRISHNA Date: 2024.08.28 15:12:22 +05'30' S. Murali Krishna Company Secretary

Encl. As above

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

Business Responsibility and Sustainability Report

SECTION A: GENERAL DISCLOSURES

I. Details of the listed entity

1	Corporate IdentityNumber (CIN) of the Listed Entity	L24230MH2017PLC291636
2	Name of the Listed Entity	Solara Active Pharma Sciences Limited
3	Year of incorporation	2017
4	Registered ofce address	201, Devavrata, Sector 17, Vashi, Navi
		Mumbai, Mumbai, Maharashtra, India, Pin
		code: 400703
5	Corporate address	2nd Floor, Admin Block,27 Vandaloor
		Kelambakkam Road, Keelakottaiyur Village,
		Melakottaiyur Post, Chennai, Tamil Nadu,
		India, Pin code: 600127
6	E-mail	[email protected]
7	Telephone	+91 44 47406200
8	Website	www.solara.co.in
9	Financialyear for which reportingis beingdone	2023-2024
10	Name of the Stock Exchange(s) where shares are listed	BSE Limited and National Stock Exchange of
		India Limited
11	Paid-upCapital	INR 35,99,62,670/-
12	Name and contact details (telephone, email address) of the person	Mr. Murali Krishna
	who may be contacted in case of any queries on the BRSR report	Ph: +91 9841810190
		E-mail: [email protected]
13	Reporting boundary - Are the disclosures under this report made on a	The reporting boundary includes Indian
	standalone basis (i.e., only for the entity) or on a consolidated basis (i.e.,	Operations of Solara Active Pharma Sciences
	for the entity and all the entities which form a part of its consolidated fnancial statements, taken together).	Limited on standalone basis. This consists of 6 manufacturing plants and 2 ofces (1 ofce in Chennai which includes the R&D center and 1 ofce in Bangalore).
		Select disclosures in Principle 6 exclude Sales & Marketing Ofce at Bangalore,
		which has minimal environment footprint
		and is considered non-material from
		environmental impactperspective.
14	Name of assuranceprovider	Not Applicable
15	Type of assurance obtained	Not Applicable

II. Products/services

16. Details of business activities (accounting for 90% of the turnover):

Sl. No.	Description of Main Activity	Description of Business Activity	% of Turnover of the entity
2.	Active	Design and manufacture commercial APIs across therapeutic	100.0%
	Pharmaceutical	categories, complex products, including polymer-based APIs
	Ingredients	and injectables
Products/Services sold		by the entity (accounting for 90% of the entity’s Turnover):
S. No.		Product/Service NIC Code	% of total Turnover contributed
1	Active Pharmaceutical Ingredients 21001		100.0%

17. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover):

I. Operations

18. Number of locations where plants and/or operations/offices of the entity are situated:

Location	Number ofplants	Number of ofces	Total
National	6	3*	9
International	0	0	0

The 3 offices include a registered office in Mumbai which has not been considered as part of the reporting boundary since the environmental and social footprint is negligible relative to other locations.

70 Solara Active Pharma Sciences Limited

19. Markets served by the entity:

a	No. of Locations
	Location	Number
	National (No. of States)	Pan-India
	International (No. of Countries)	75 countries worldwide
b	What is the contribution of exports as a percentage of the	62.94%
	total turnover of the entity?
c	A brief on type of customers	Generic pharma companies and innovator
		pharma companies are our customers, and our
		core business is Active Pharma Ingredients (API).

IV. Employees

20. Details as at the end of Financial Year:

a. Employees and workers (including differently abled):

ployees ails as at the end of Financial Year: Employees and workers (including differently abled):
Sl. No. Particulars Total (A)	Male Female
	No. (B) % (B/A) No. (C) % (C/A)
EMPLOYEES
1. Permanent (D) 1756 1609 91.6% 147 8.4%
2. Other than Permanent (E) 11 8 72.7% 3 27.3%
3. Total employees (D + E) 1767 1617 91.5% 150 8.5%
WORKERS
4. Permanent (F) 705 704 99.9% 1 0.1%
5. Other than Permanent (G) 1100 998 90.7% 102 9.3%
6. Total workers (F + G) 1805 1702 94.3% 103 5.7%

Note: All off-role workforce is classified as other than permanent workers

b. Differently abled Employees and workers:

Sl. No. Particulars Total (A)	Male Female
	No. (B) % (B/A) No. (C) % (C/A)
DIFFERENTLY ABLED EMPLOYEES
1. Permanent (D) 5 4 80.0% 1 20.0%
2. Other than Permanent (E) 0 0 0.0% 0 0.0%
3. Total differently abled employees (D + E) 5 4 80.0% 1 20.0%
DIFFERENTLY ABLED WORKERS
4. Permanent (F) 0 0 0.0% 0 0.0%
5. Other than Permanent (G) 0 0 0.0% 0 0.0%
6. Total differently abled workers (F + G) 0 0 0.0% 0 0.0%

21. Participation/Inclusion/Representation of women

Participation/Inclusion/Representation of women
Particulars Total (A)	No. andpercentage of Females
	No. (B) % (B / A)
Board of Directors 9* 1 11.1%
KeyManagement Personnel 4 0 0.0%

*The Board of Directors include two Key Management Personnel: Mr. Poorvank Purohit, Managing Director & Chief Executive Officer, and Mr. Mohan Muthunarayanan, Chief Operations Officer

22. Turnover rate for permanent employees and workers (Disclose trends for the past 3 years)

	FY 2023-24 (Turnover rate in cur	FY 2023-24 (Turnover rate in cur	rent FY)	FY2022-23 (Turnover rate in previous FY) FY 2021-22 (Turnover rate in the year prior to theprevious FY)**

	Male	Female	Total	Male Female Total Male Female Total
Permanent Employees	21.0%	28.1%	21.6%	21.9% 21.5% 21.9% 27.4% 28.3% 27.4%
Permanent Workers	3.8%	0.0%	3.8%	1.9% 0.0% 1.9% 2.5% 0.0% 2.5%

*The values for turnover rate for FY 2021-22 and FY 2022-23 have been restated due to change in calculation methodology.

Annual Report 2023-24 71

V. Holding, Subsidiary and Associate Companies (including joint ventures)

23. (a) Names of holding / subsidiary / associate companies / joint ventures

		Indicate whether		Does the entity indicated at
Sr.	Name of the holding / subsidiary /	holding/ Subsidiary/	% of shares held	column A, participate in the
No.	associate companies / joint ventures (A)	Associate/ Joint	by listed entity	Business Responsibility initiatives
		Venture		of the listed entity? (Yes/No)
1	Chemsynth Laboratories Private Limited	Subsidiary	49.0%	No
2	Sequent Penems Private Limited	Subsidiary	100.0%	No
3	Shasun USA Inc	Subsidiary	100.0%	No
4	Solara Active Pharma Sciences LTDA	Subsidiary	100.0%	No

VI. CSR Details


VI. CSR	Details	Response
24. (i)	Whether CSR is applicable as per section 135 of Companies Act, 2013: (Yes/No)	Yes
(ii)	Turnover (in`)	1,294 Crores
(iii)	Net worth(in`)	937 Crores

Note: 1 Crore = 10 Million

VII. Transparency and Disclosures Compliances

25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct:

Responsible Business Conduct:
	Current Financial Year (FY 2023-24)	Previous Financial Year (FY 2022-23)
Stakeholder group from whom complaint is received Grievance Redressal Mechanism in Place (Yes/No) (If Yes, then provide web-link
	Number of complaints fled during the year Number of complaints pending resolution at close of theyear Remarks	Number of complaints fled during the year Number of complaints pending resolution at close of theyear Remarks
Communities  Yes, the following policies have been developed and implemented for grievance redressal - Community- Grievance-Policy.pdf (solara. co.in), Solara_Whistle-Blower- Policy-1.pdf  Yes, there is a strong grievance redressal mechanism for shareholders & investors. The complaints are attended promptly by the Registrar & Share Transfer agent (RTA) and secretarial team. Stakeholder Relationship Committee of the Board oversees and looks into grievances not resolved in the specifed time frame. Further, systems introduced by SEBI viz. SCORES AND Online Dispute Resolution (ODR) Mechanism has been put in place to ensure redressal of grievances of shareholders Investors (other than shareholders) Shareholders Employees and workers Customers Value Chain Partners Other (please specify)	0 0 -	0 0 -
	0 0 -	0 0 -
	0 0 -	0 0 -
	0 0 -	0 0 -
	34 5 -	28 10
	0 0 -	0 0 -
	0 0 -	0 0 -

72 Solara Active Pharma Sciences Limited

26. Overview of the entity’s material responsible business conduct issues

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or mitigate the risk along-with its financial implications, as per the following format

		Indicate			Financial implications of
S. No.	Material issue identifed	whether risk or opportunity	Rationale for identifying the risk / opportunity	In case of risk, approach to adapt or mitigate	the risk or opportunity (Indicate positive or
		(R/O)			negative implications)
1	Energy	O	Efcient Energy Management	Not Applicable	Positive:Non-
	Management		measures and transitioning		Renewable to
			to renewable energy sources		renewable energy
			facilitates reduction of		substitution and
			operational expenses, a		energy efciency helps
			decreased environmental		in reducing long-term
			footprint and improved		energy costs.
			operational sustainability in the
			long run.
2	Water	O	Uninterrupted water availability	Not Applicable	Positive:Efcient
	Availability		is a critical requirement for		water management
			API manufacturing and Solara		practices can help
			treats it as an opportunity to		avoid high operational
			continuously work towards		costs for water
			optimizing fresh water		procurement, and
			consumption through goals		potential production
			setting, robust governance		downtime due to water
			systems and investment in water		shortages
			recycling technology.
3	Waste	R	Waste Management in API	1. Undertaken a	Negative:Effective
	Management		manufacturing units is a	commitment to	waste management
			critical aspect considering the hazardous nature of waste generated. Improper disposal	reduce disposal to landfll by 20% and to reduce incinerable	and recycling programs requires signifcant investment.
			of these materials can lead	waste by 15% from	Non-compliance
			to extensive damage to the	the baseline year FY	with waste disposal
			ecosystem. The growing number of waste management	2021- 22 and utilize it for coprocessing by	regulations can result in hefty fnes,
			regulations has made the	2025.	legal costs, and
			process more complex and	2. Established internal	environmental cleanup
			costly	targets and periodic	expenses.
				monitoring system
				to improve year on year efciency of
				waste management
				systems.
4	Health and	R	Material handling of hazardous	1. Company	Negative:There can
	safety		chemicals can result in workplace accidents. Unhealthy,	commitment to maintain a	be legal liabilities and substantial fnes in
			unsafe and hazardous	robust health and	case of an accident
			work conditions may prove detrimental to the physical	safety system by identifcation and	involving the company. A poor safety record
			and mental well-being of the	elimination of the	can lead to higher
			employees. This also poses a risk to the company's reputation and can lead to signifcant fnes and legal liabilities.	causes of injuries and accidents. 2. Period monitoring mechanism and	insurance premiums and difculty retaining and attracting talent due to fear of safety.
				investigation
				procedures
				3. Robust systems for hazard identifcation
				and mitigation to promote efciency
				and higher
				productivity

Annual Report 2023-24 73

		Indicate			Financial implications of
S. No.	Material issue identifed	whether risk or opportunity	Rationale for identifying the risk / opportunity	In case of risk, approach to adapt or mitigate	the risk or opportunity (Indicate positive or
		(R/O)			negative implications)
5	Policy Infuence	R	Pharmaceutical business	A robust control	Negative:Non-
	& regulatory		is a stringently regulated	mechanism and	compliance
	compliance		industry which is constantly	stringent checks &	to regulatory
			evolving. Even a minor non- compliance to regulations can risk loss of reputation and	balances in place to ensure adherence to all policies and regulatory	requirements may result in signifcant fnes and high legal
			business. It is critical to conduct	requirements	costs. Such non-
			proactive checks which is vital		compliances can also
			for adherence to regulatory		lead to reputational
			requirements.		damage, affecting
					customer and
					investor relations and
					potentially losing
					business opportunities
6	Employee	O	The Pharmaceutical industry	Not Applicable	Positive:Employee
	Recruitment,		relies on highly skilled employees		retention may result
	Development &		to develop new products,		in saving costs for
	Retention		manage government regulations		recruitment & training,
			and commercialize new		and a low turnover rate
			products. Companies that attract		can boost employee
			and retain employees despite a		productivity.
			constrained talent pool may be
			better positioned to protect and
			enhance shareholder value
7	Supply Chain	R/ O	Risk:Management of the supply	Created a Supplier	Negative:Non-
	Management		chain quality is essential for	Code of Conduct and	compliance,
			protecting consumer health and	committed to collaborate	disruptions or
			corporate value. Biotechnology and pharmaceuticals entities	with Tier-1 suppliers in order to foster sustainable	violations in may lead to fnes/penalties,
			that fail to ensure quality	performance	delays in supply or
			throughout their supply chains		increase in operational
			may be susceptible to lost		cost.
			revenue, supply disruptions and reputational damage.		Positive:The company’s adherence
			Opportunity:Disclosure of		to its responsible
			supply chain audit programs		sourcing increases its
			can provide investors with		environmental and
			an understanding of how		social performance,
			the company is protecting		and improvement in
			shareholder value		brand reputation due
					to sustainable supply
					chain management.
8	Business Ethics	O	Pharmaceutical business	Not Applicable	Positive:By ensuring
			is subjected to various		compliance and
			jurisdictional laws and		following best
			regulations pertaining to bribery,		practices, the
			corruption and health care fraud and abuse. Adherence		company can avoid fnes and build trust
			to compliance requirements		within customers.
			throughout global & domestic		and stakeholders.
			operational footprint and
			corporate disclosure of legal / regulatory fnes & codes of ethics
			that govern their interactions
			with health care professionals
			may allow investors to monitor
			performance and instill trust.

74 Solara Active Pharma Sciences Limited

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting the NGRBC Principles and Core Elements.

Disclosure Questions	P1 P2 P3 P4 P5 P6 P7 P8 P9
Policy and managementprocesses
1.a. Whether your entity’s policy/policies cover each principle and its core elements of the NGRBCs. (Yes/No) b. Has the policy been approved by the Board? (Yes/No) c. Web Link of the Policies, if available	Y Y Y Y Y Y Y Y Y
	Y Y Y Y Y Y Y Y Y
	https://solara.co.in/investor-relations/policies-and-guidelines
2. Whether the entity has translated the policy intoprocedures. (Yes / No)	Y Y Y Y Y Y Y Y Y
3. Do the enlisted policies extend to your	Y Y Y N Y Y N N N

3. Do the enlisted policies extend to your value chain partners? (Yes/No)

4. Name of the national and international International certifications ISO 45001:2018 and ISO 14001:2015 codes/certifications/labels/ standards (e.g., adopted by our Company at 4 sites (Cuddalore, Puducherry, Mangaluru Foresat Stewardship Council, Fairtrade, and Ambernath) Rainforest Alliance, Trustea) standards (e.g., SA 8000, OHSAS, ISO, BIS) adopted by your entity and mapped to each principle.

5. Specific commitments, goals and targets set by the entity with defined timelines, if any.

6. Performance of the entity against the specific commitments, goals and targets along-with reasons in case the same are not met.

Improve usage of electricity generated from renewable sources from 27% to 40% by 2025 over 2021-22 baseline.
Reduced Fresh Water usage across all operations by 15% in 2025 over 2021-22 baseline.
o Reduce waste disposal to landfill by 20% in 2025 over 2021-22 baseline.
o Reduce Incinerable waste by 15% in 2025 over baseline of 2021-22 and put to good use in co-processing.
o Zero accident target o Partnering for Sustainable Performance with 100% Tier-1 suppliers for engagement on sustainability by 2025: Tier-1 suppliers committing to supplier code of conduct and sustainable performance
o Renewable electricity contributed to 39% of Solara’s total electricity consumption.
o The company achieved a 3.1% reduction in freshwater consumption in FY 2023-24 over FY 2021-22 baseline.
o Through continuous focused efforts, Solara has achieved the established targets for waste management by reducing waste disposal to landfill to 69.2% and incinerable waste to 49.7% in FY 2023-24 from the FY 2021-22 baseline.
o Company performance social initiatives and sustainability in supply chain are aligned to the established target for the year 2025.

Governance, leadership, and oversight

7. Statement by director responsible for the business responsibility report, highlighting ESG related challenges, targets and achievements (listed entity has flexibility regarding the placement of this disclosure)

Solara places the highest priority to sustainability with a core belief that sustainable performance would be a strong business enabler and would bring competitive advantage. This report is a testimony of the Company’s commitment to Sustainability in areas of Environment, Social, Governance (ESG). Sustainability has been an integral part of the business ever since the Company was formed as a separate Pure Play API company from the group company in year 2018. Solara believes in balanced growth in all aspects of business with the context of building a sustainable business and a sustainable world at large.

Solara places a strategic priority to integrate ESG into business operations through a systematic approach of identifying ESG priorities and establishing a sustainability roadmap for the company. The company is committed to consistently improve ESG performance and have developed medium term goals for 2025.

The Company continues to invest in renewable sources of energy and partner with companies undertaking group captive solar power projects. Solara is committed to reducing / compensating GHG emissions with renewable sources or other means of fuels and undertaking ZLD projects. The Company has also undertaken cost improvement programs such as increasing product yields and solvent recovery to boost efficiency and sustainability. A significant improvement in Diversity & Inclusion agenda has been noted by achieving gender diversity ratio of 8.4% in permanent employee category.

Annual Report 2023-24 75

Besides sustainable performance within the sites, Solara has started to look beyond its operational sites at the supply chain performance. The Company has engaged supply chain partners for sustainability and take its commitment covering environmental, social and governance. Solara has been assessing the company sustainability performance with world renowned sustainability rating agency Eco Vadis from past 4 years and continue to show improvement in sustainability performance with significant increase in score for labor and human rights, maintaining good position in environment, sustainable procurement and ethics.

Solara aims to integrate sustainability and sustainable performance into the business model as a business enabler and a core to way of work in line with the Company RITE values (Respect, Integrity, Transparency and Efficiency). The Company is committed to taking our sustainability performance to top quartile among all companies on EcoVadis platform and aim for silver medal rating in near term. Solara aims to be a leading pure play API company and contributing immensely for sustainability in the interest of future and future generation.

8. Details of the highest authority responsible for implementation and oversight of the Business Responsibility policy (ies).

9. Does the entity have a specified Committee of the Board/ Director responsible for decision making on sustainability related issues? (Yes / No). If yes, provide details.

DIN: 10158900 Mr. Poorvank Purohit Managing Director & CEO

No

Note: All sustainability activities are overseen by the CEO.

10. Details of Review of NGRBCs by the Company:

Subject for Review	Indicate whether review was undertaken by Director / Committee of the Board/ Any other Committee Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)	Indicate whether review was undertaken by Director / Committee of the Board/ Any other Committee Frequency (Annually/ Half yearly/ Quarterly/ Any other – please specify)
	P1 P2 P3 P4 P5 P6 P7 P8 P9 P1 P2 P3 P4 P5 P6 P7 P8 P9
Performance against above policies and follow upaction Y Y Y Y Y Y Y Y Y A A A A A A A A A
Compliance with statutory requirements of relevance to the principles, and, rectifcation of any non- compliances	P1 P2 P3 P4 P5 P6 P7 P8 P9
	Y Y Y Y Y Y Y Y Y
Has the entity carried out independent assessment/ evaluation of the working of its policies by an external agency? (Yes/No). If yes, provide name of the agency.		P1 P2 P3 P4 P5 P6 P7 P8 P9
		N N N N N N N N N

12. If answer to question (1) above is “No” i.e. not all Principles are covered by a policy, reasons to be stated:

stated:
Questions	P1	P2	P3	P4	P5	P6	P7	P8	P9
The entity does not consider the principles material to its				Not	Applicable
business (Yes/No)

The entity is not at a stage where it is in a position to formulate and implement the policies on specified principles (Yes/No)

The entity does not have the financial or/human and technical resources available for the task (Yes/No)

It is planned to be done in the next financial year (Yes/No)

Any other reason (please specify)

76 Solara Active Pharma Sciences Limited

SECTION C: PRINCIPLE WISE PERFORMANCE

This section is aimed at helping entities demonstrate their performance in integrating the Principles and Core Elements with key processes and decisions. The information sought is categorized as “Essential” and “Leadership”. While the essential indicators are expected to be disclosed by every entity that is mandated to file this report, the leadership indicators may be voluntarily disclosed by entities which aspire to progress to a higher level in their quest to be socially, environmentally, and ethically responsible.

Principle 1: Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent and Accountable.

Essential Indicators

Percentage coverage by training and awareness programmes on any of the principles during the financial year

Segment Total number of training and awareness programmes held Topics/principles covered under the training and its impact	%age of persons in respective category covered by the awareness programmes
Board of Directors 1 Code of Conduct which includes business ethics, guidelines on conficts of interest, equal employment opportunity, PoSH, health and safety, among others	100.0%
Key Management Personnel 13 • Human Rights Policy • Code of Conduct • Child Labour policy • Anti bribery policy • Business Ethics & Integrity • Equal opportunity policy • Diversity & Inclusion • Employees Grievance and Escalation Management • Employees Disciplinary Action • Whistle blower • POSH • CSR Employees other than BoD and KMPs Workers	100.0%
	100.0%
	100.0%

Details of fines / penalties /punishment/ award/ compounding fees/ settlement amount paid in proceedings (by the entity or by directors / KMPs) with regulators/ law enforcement agencies/ judicial institutions, in the financial year, in the following format:
(Note: the entity shall make disclosures on the basis of materiality as specified in Regulation 30 of SEBI (Listing Obligations and Disclosure Obligations) Regulations, 2015 and as disclosed on the entity’s website):

Category	Monetary
	NGRBC Principle Name of the regulatory/ enforcement agencies/ judicial institutions Amount (In INR) Brief of the Case Has an appeal been preferred? (Yes/No)
Penalty/Fine	Principle 1 BSE Limited 4,36,600 INR Composition of the Board under Regulation 17(1) of SEBI (LODR), 2015 for the period August 4, 2021, to October 16, 2021. Payment of Fine was made on 26- 10-2023 Yes. A waiver request was made to the exchange. The waiver committee waived the fne for Regulation 18 and 19 of SEBI (LODR).
Settlement	- - - - -
CompoundingFee	- - - - -

Annual Report 2023-24

	Non-Monetary
	NGBRC Principle Name of the regulatory/ enforcement agencies/ judicial institutions Amount (in INR) Brief of the Case Has an appeal been preferred? (Yes/No)
Imprisonment	- - - - -
Punishment	- - - - -

Of the instances disclosed in Question 2 above, details of the Appeal/ Revision preferred in cases where monetary or non-monetary action has been appealed.

Case Details Name of the regulatory/ enforcement agencies/ judicial institutions Composition of the Board under Regulation 17(1) BSE Limited of SEBI (LODR), 2015 for the period August 4, 2021, to October 16, 2021. A waiver request was made to the exchange. The waiver committee waived the fine for Regulation 18 and 19 of SEBI (LODR).

Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available, provide a web-link to the policy.

Yes, the anti-corruption and anti-bribery policy serves as a guiding document for our workforce and is available on our website in the following link: https://solara.co.in/wp-content/uploads/2023/07/Anti-Bribery-CurruptionPolicy.pdf

Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law enforcement agency for the charges of bribery/ corruption:

enforcement agency for the charges of bribery/ corruption:
	FY 2023-24 (Current Financialyear)	FY 2022-23 (Previous Financialyear)
Category
Directors	0	0
KMPs	0	0
Employees	0	0
Workers	0	0

Details of complaints with regard to conflict of interest

Details of complaints with regard to confict of interest
	FY 2023-24		FY 2022-23
Category
	Number	Remarks	Number Remarks
Number of complaints received in relation to issues of Confict of Interest of the Directors	0	-	0 -
Number of complaints received in relation to issues of Confict of Interest of the KMPs	0	-	0 -

Provide details of any corrective action taken or underway on issues related to fines / penalties / action taken by regulators/ law enforcement agencies/ judicial institutions, on cases of corruption and conflicts of interest.

Not Applicable

Number of days of accounts payables ((Accounts payable *365) / Cost of goods/services procured) in the following format:

following format:
	FY 2023-24 (Current Financialyear)	FY 2022-23 (Previous Financialyear)
Category
Number of days of accountspayable	148	142

Open-ness of business. Provide details of concentration of purchases and sales with trading houses, dealers, and related parties along-with loans and advances & investments, with related parties, in the following format:

		FY 2023-24 (Current Financialyear)	FY 2022-23 (Previous Financialyear)
Parameter	Metrics
Concentration of Purchases	a. Purchases from trading houses as % of total purchases	0	0
	b. Number of trading houses where purchases are made from	0	0
	c. Purchases from top 10 trading houses as % of totalpurchases from tradinghouses	0	0

78 Solara Active Pharma Sciences Limited

		FY 2023-24 (Current Financialyear)	FY 2022-23 (Previous Financialyear)
Parameter	Metrics
Concentration of Sales	a. Sales to dealers / distributors as % of total sales	6.0%	4.0%
	b. Number of dealers / distributors to whom sales are made	5	6
	c. Sales to top 10 dealers / distributors as % of total sales to dealers / distributors	100.0%	100.0%
Share of RPTs in	Purchases (Purchases with related parties/ Total Purchases)	0.02%	0.08%
	Sales (Sales to relatedparties/ Total Sales)	9.5%	13.9%
	Loans & Advances (Loans & Advances given to related parties/ Total Loans & Advances) *	7.5%	2.9%
	Investments (Investments in related parties/ Total Investments) *	88.1%	89.4%

*The share of RPT reported is as on 31st March 2024

Leadership Indicators

Does the entity have processes in place to avoid/ manage conflict of interests involving members of the Board? (Yes/No) If Yes, provide details of the same.

Yes. The Code of Conduct (the “Code”) sets forth legal and ethical standards of conduct for Directors and employees constituting senior management (comprising all members of the core management team one level below the Executive Directors and all functional heads). Code is designed to determine wrongdoing and to promote:

Honest, fair and ethical conduct, including ethical handling of conflicts of interest between personal and professional relationships.
Protection and proper use of corporate assets & confidential information.
Compliance with applicable laws, rules and regulations.

Principle 2: Businesses should provide goods and services in a manner that is sustainable and safe.

Essential Indicators

Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve the environmental and social impacts of product and processes to total R&D and capex investments made by the entity, respectively.

	FY 2023-24	FY 2022-23 Details of improvements in environmental and social impacts
R&D	22.9%	35.0% Expenses related to process improvements to reduce carbon footprint
Capex	14.4%	4.0% Capital expenditure towards process improvement to reduce carbon footprint and towards health & safetymeasures.

A. Does the entity have procedures in place for sustainable sourcing? (Yes/No)
B. If yes, what percentage of inputs were sourced sustainably?
- A. Yes, Solara promotes sustainable sourcing and encourages its suppliers and vendors to embrace moral, accountable, and sustainable practices in their operations. The Company has developed a Responsible Supply Chain Management policy that sets out fundamental values and integrity levels of business conduct and a Vendor Code of Conduct which covers various aspects of ESG, such as compliance with all applicable environmental laws and regulations, labor and human rights & antibribery, anticorruption, data protection and data privacy.
- B. In FY 2023-24, 61% of inputs were sourced sustainably through suppliers complaint to Solara’s Vendor Code of Conduct.

Annual Report 2023-24 79

Describe the processes in place to safely reclaim your products for reusing, recycling, and disposing at the end of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste.

Waste Type	Waste managementprocedure inplace
Plastic waste (including packaging)	Plastic waste is disposed off to authorized recyclers as per the norms laid by
	Pollution Control Board (PCB) at respective sites. All details for the disposal and
	generation ofplastic waste is tracked.
E-waste	E-waste is safely disposed off to authorized recyclers after entering into an
	agreement and collection of all the legal documents.
Hazardous Waste	Hazardous waste is safely disposed by sending to authorized agencies only after
	assessment and collection of all the legal document to ensure safelydisposal.
Other Waste	All other wastes are sent to authorized waste disposal agencies.

Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes / No). If yes, whether the waste collection plan is in line with the Extended Producer Responsibility (EPR) plan submitted to Pollution Control Boards? If not, provide steps taken to address the same.

Yes, as per the Extended producer guideline our company falls under Importer category. However, majority of Solara sites are Exported Oriented Units and same are exempted from fulfilling EPR obligations. Regarding DTA units’ company has taken up with local authorities on clarifications for registration requirement and awaiting their response.

Leadership Indicators

Has the entity conducted Life Cycle Perspective / Assessments (LCA) for any of its products (for manufacturing industry) or for its services (for service industry)? If yes, provide details in the following format?

NIC Code	Name of the product/service % of total turnover contributed Boundary for which the life cycle perspective/ assessment was conducted Whether conducted by independent external agency (Yes/No) Results communicated in public domain (Yes/No) If yes, provide the web- link
21001	Ibuprofen 34.1% Cradle to Grave Yes No
	Gabapentin 8.2% Cradle to Grave Yes No

If there are any significant social or environmental concerns and/or risks arising from production or disposal of your products / services, as identified in the Life Cycle Perspective / Assessments (LCA) or through any other means, briefly describe the same along-with action taken to mitigate the same.

Name of Product/Service	Description of the risk/concern	Action Taken
Ibuprofen	The life cycle assessment of product Ibuprofen	Process development to replace
	is conducted to assess impact categories like global warming, ozone depletion, acidifcation,	conventional drug synthesis, processing, and manufacturing
	eutrophication, water consumption, land use,	techniques with greener ones
	ecotoxicity, etc. considering cradle-to-product distribution boundary. In Ibuprofen, the emissions	that are cost-effective, sustainable, environment-friendly, and proftable
	due to raw material extraction are 79%, raw material	is underway.
	transportation are 1%, manufacturing process are
	20% and in product distribution is 0%. The highest
	emissions occur during the raw material extraction
	of the product where, Aldehyde has maximum
	impact followed by sodium di-chromate, sulphuric
	acid, acetone, and activated carbon.
Gabapentin	The life cycle assessment of product Gabapentin	Process development is a work
	is conducted to assess impact categories like global warming, ozone depletion, acidifcation,	under progress
	eutrophication, water consumption, land use,
	ecotoxicity, etc. considering cradle-to-grave system
	boundary.
	The highest emissions occur during the raw
	material extraction of the product. Upon studying
	the raw materials, sodium hypochlorite and tributyl
	amine are found to have the maximum impact on
	the environment.

80 Solara Active Pharma Sciences Limited

Principle 3: Businesses should respect and promote the well-being of all employees, including those in their value chains

Essential Indicators

a. Details of measures for the well-being of employees:

Category		% Of employees covered by
	Total (A)*	Health insurance Accident insurance Maternity Benefts Paternity Benefts Day Care Benefts
		Number (B) % (B / A) Number (C) % (C / A) Number (D) % (D / A) Number (E) % (E / A) Number (F) % (F / A)
Permanent Employees
Male 1609 1609 100.0% 1609 100.0% - - 1609 100.0% 0 0.0%
Female 147 147 100.0% 147 100.0% 147 100.0% - - 0 0.0%
Total 1756 1756 100.0% 1756 100.0% 147 8.3% 1609 91.7% 0 0.0%
Other than Permanent Employees
Male 8 0 0.0% 0 0.0% - - 0 0.0% 0 0.0%
Female 3 0 0.0% 0 0.0% 0 0.0% - - 0 0.0%
Total 11 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0%

b. Details of measures for the well-being of workers:

Category		% Of workers covered by
	Total (A)	Health insurance Accident insurance Maternity benefts Paternity benefts Day care facilities
		Number (B) % (B/A) Number (C) % (C/A) Number (D) % (D/A) Number (E) % (E/A) Number (F) % (F/A)
Permanent Workers
Male 704		704 100.0% 704 100.0% - - 704 100.0% 0 0.0%
Female 1		1 100.0% 1 100.0% 1 100.0% - - 0 0.0%
Total 705		705 100.0% 705 100.0% 1 0.1% 704 99.9% 0 0.0%
Other than Permanent Employees
Male 998 0 0.0% 0 0.0% - - 0 0.0% 0 0.0%
Female 102 0 0.0% 0 0.0% 0 0.0% - - 0 0.0%
Total 1100 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0%

c. Spending on measures towards well-being of employees and workers (including permanent and other than permanent) in the following format

than permanent) in the following format
	FY 2023-24	FY 2022-23
Parameter
Cost incurred on well being measures as a % of total revenue of the company	1.5%	1.4%

2. Details of retirement benefits, for Current FY and Previous Financial Year.

Benefts		FY 2023-24		FY 2022-23
	No. of employees covered as a % of total employees	No. of workers covered as a % of total workers	Deducted and deposited with the authority (Y/N/N.A.)	No. of employees covered as a % of total employees No. of workers covered as a % of total workers Deducted and deposited with the authority (Y/N/N.A.)
PF	100.0%	100.0%	Y	100.0% 100.0% Y
Gratuity	100.0%	100.0%	Y	100.0% 100.0% Y
ESI*	3.5%	0.0%	Y	14% 7% Y
Others- please specify	-	-	-	- - -

*The percentage coverage includes only those employees and workers who are covered or entitled under ESI.

3. Accessibility of workplaces

Are the premises / offices of the entity accessible to differently abled employees and workers, as per the requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the entity in this regard.

Yes. Solara ensures that its employees with disabilities are treated at par with other employees and also ensures non-discrimination, provides equal opportunity and ensures their accessibility to the work locations. Company premises are accessible to differently abled employees and workers, as per the requirements of the Rights of Persons with Disabilities Act, 2016.

Annual Report 2023-24 81

Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so, provide a web-link to the policy.

Yes, the company provides equal opportunity to disabled employees both at the time of hiring and during their careers. The Equal Opportunity, Diversity and Inclusion Policy promotes a fair and transparent work environment to ensure diversity and inclusion of all people, including people with disability. Weblink to the policy: https://solara.co.in/wp-content/uploads/2023/06/DEI-Policy.pdf

Return to work and Retention rates of permanent employees and workers that took parental leave.

	Permanent	Employees	Permanent	Workers
Gender	Return to work rate	Retention rate	Return to work rate	Retention rate
Male	100.0%	100.0%	100.0%	100.0%
Female	100.0%	100.0%	-	-
Total	100.0%	100.0%	100.0%	100.0%

6. Is there a mechanism available to receive and redress grievances for the following categories of employees and worker? If yes, give details of the mechanism in brief.

Yes/ No

Category (If yes, then give details of the mechanism in brief)
Permanent Workers Yes, Solara has the following grievance redressal mechanism - Other than Permanent Workers Permanent Employees • Representation through recognized union representatives Other than Permanent Employees • Standing Order • Whistle Blower mechanism
- Reporting mechanism under POSH
- • Grievance redressal system
Membership of employees and worker in association(s) or Unions recognized by the listed entity:

Category		FY 2023-24		FY 2022-23
	Total employees/ workers in respective category (A)	No. of employees/ workers in respective category, who are part of associations or Union (B)	% (B/A)	Total employees/ workers in respective category (C) No. of employees/ workers in respective category, who are part of associations or Union (D) % (D/C)
Total Permanent Employees	1756	0	0.0%	1632 0 0%
Male	1609	0	0.0%	1494 0 0%
Female	147	0	0.0%	138 0 0%
Total Permanent Workers	705	705	100.0%	729 729 100%
Male	704	704	100.0%	728 728 100%
Female	1	1	100.0%	1 1 100%

8. Details of training given to employees and workers:

		FY 2023-24 (Current Financial Year)	FY 2023-24 (Current Financial Year)	FY 2023-24 (Current Financial Year)	FY 2023-24 (Current Financial Year)		FY 2022-23 (Previous Financial Year)
Category
	Total (A)	On Health and safety measures		On Skill upgradation		Total (D)	On Health and safety measures On Skill upgradation
		No. (B)	% (B / A)	No. (C)	% (C / A)		No. (E) % (E / D) No. (F) % (F / D)
				Employees
Male	1609	954	59.0%	1392	86.1%	1502	402 26.8% 1289 85.8%
Female	150	68	45.3%	103	68.7%	140	30 21.4% 114 81.4%
Total	1767	1022	57.8%	1495	84.6%	1642	432 26.3% 1403 85.4%
					Workers
Male	1702	1573	92.4%	1682	98.8%	1716	1586 92.4% 1680 97.9%
Female	103	103	100.0%	103	100.0%	106	106 100.0% 105 99.1%
Total	1805	1676	92.9%	1785	98.9%	1822	1692 92.9% 1785 98.0%

Note: As a part of our procedures, all the other than permanent employees and workers are trained in all safety-related and skillrelated trainings before deployment in their respective roles.

*The values for FY 2022-23 have been restated to include the other than permanent workforce covered under trainings from previously reported data for only permanent workforce.

82 Solara Active Pharma Sciences Limited

Details of performance and career development reviews of employees and worker

		FY 2023-24		FY 2022-23
Category
	Total (A)	No. (B)	% (B/A)	Total (C) No. (D) % (D/C)
Employees
Male	1609	1551	96.4%	1494 1263 85%
Female	147	137	93.1%	138 88 64%
Total	1756	1688	96.1.%	1632 1351 83%
Workers*
Male	704	704	100.0%	728 728 100.0%
Female	1	1	100.0%	1 1 100.0%
Total	705	705	100.0%	729 729 100.0%

Note: The above data has been reported for only permanent employees and workers since performance reviews are not applicable for other than permanent employees and workers.

*For the permanent workers, performance and related reviews are covered under the Long Term Settlement Agreements.

10. Health and safety management system:

a. Whether an occupational health and safety management system has been implemented by the entity? (Yes/ No). If yes, the coverage such system?
Yes, occupational health and safety management system has been implemented by at all our locations.

4 manufacturing sites (Cuddalore, Puducherry, Mangaluru and Ambernath) of Solara are certified for ISO 45001 and ISO 14001.

b. What are the processes used to identify work-related hazards and assess risks on a routine and nonroutine basis by the entity?

The Company has a process for Risk Management which is essential for preventing incidents, injuries, occupational disease, emergency control & prevention and business continuity.

Considering the hazards associated with operations and hazardous chemicals used, sites have deployed structured Hazard Assessment by HAZOP and What-if method and Risk Assessment via ISO 31000. They are carried out on or before start-up of manufacturing process. What if analysis is done for the products before transfer to manufacturing sites
On a day-to-day basis unsafe conditions and hazards are also identified by employees and notified through the drop box placed at various locations in the plant. It is also extended to contractors working on sites to ensure their concerns are captured.
The closure of the same is tracked to ensure risk control at the workplace. Storing and handling of toxic chemicals like ammonia, chlorine, flammable materials like fuel, etc. are identified as the critical hazard process hazards at the site for which the Company has carried out Quantitative Risk Assessment; HAZOP study and engineering review by external/internal experts as appropriate.
Safety training is conducted for employees as per the schedule.
Contractor Safety management system is in place.
c. Whether you have processes for workers to report the work-related hazards and to remove themselves from such risks. (Y/N)

Yes, The Company has well-established Standard Operating Procedures (SOP) for employees to identify and report on work-related hazards and the subsequent steps to mitigate them. In addition, the Company trains all its employees and workers with occupational health and safety modules. The training modules cover aspects of the methodology to identify work-related hazards, analyse the risks associated with it and take subsequent steps to mitigate them. During the safety and emergency evacuation drills, employees are trained in dealing with emergency equipment such as fire hydrant, firefighting system, leak and spill control procedures, safety alarms among others. In addition, the proficiency of employees is periodically tested in dealing with the emergency situations. The practical trainings and online safety modules equip the employees with right procedures of reporting work-related hazards and the steps to remove themselves from such situations. There are drop boxes at various locations in the site, so that employees can immediately report unsafe act, unsafe working condition, and near miss.

Annual Report 2023-24 83

d. Do the employees/ worker of the entity have access to non-occupational medical and healthcare services? (Yes/ No)

Yes, the Company provides non-occupational medical and healthcare services to its employees and workers. Further, the Company ensures the provision of medical insurance to all its employees and workers. With the endeavor to promote physical and mental wellbeing for all the employees, the Company designs comprehensive health programs which promote healthy lifestyle practices. Some of the examples of health programs and services offered to the employees are:

Wellness sessions
Annual Health check-up
Distribution of health drinks

11. Details of safety related incidents, in the following format

		FY 2023-24	FY 2022-23*
Safety Incident/Number	Category
Lost Time Injury Frequency Rate (LTIFR) (per one million-person hours worked)	Employees	0.29	0.30
	Workers	2.93	0.42
Total recordable work-related injuries	Employees	1	1
	Workers	14	2
No. of fatalities	Employees	0	0
	Workers	2	2
High consequence work-related injury or ill-health (excluding fatalities)	Employees	1	0
	Workers	1	0

*The values for FY 2022-23 have been restated to include safety incidents of other than permanent workforce and incidents at the Sales & Marketing office in Bangalore.

12. Describe the measures taken by the entity to ensure a safe and healthy workplace.

The Company embeds the guidelines and principles of ISO 45001:2018, OSHA standards, Factories Act and other state-level regulatory requirements within its Environment Health and Safety (EHS) management systems.
The EHS policy advocates the provision of a safe working environment to all the employees, contractors, sub-contractors, visitors, and the neighboring communities. The Company undertakes periodic internal and external audits to assess the safety practices and procedures in alignment with the EHS management system and the ISO 45001:2018 guidelines.
As part of the auditing procedure, the Company recognizes the critical areas which require immediate corrective action. The safety incidents and hazards are investigated to determine the root cause, and subsequently, corrective action plans are laid out to prevent the occurrence of similar incidents in the future. Further, as part of the EHS management system, the Company provides safety trainings through modules and safety drill practices to all its employees and workers. The safety training programs enable the development of a strong foundation among the workforce, in terms of their ability to identify, mitigate and prevent risks pertaining to Occupational Health and Safety.
Safety committee meeting is periodically conducted with management employees and workers to identify the workplace issues and to mitigate the risk of workplace injuries and illnesses.
Adequate safety signages, caution boards, Do’s & Don’ts and safety instruction boards are displayed in all locations. The Company endeavors to prevent negative health impact on the employees through various health awareness sessions, provision of medical facilities and medical insurance benefits. Additionally, the Company provides voluntary health promotion services such as lifestyle counselling, stress management sessions, nutritional awareness campaigns among others for inculcating healthy lifestyle practices.

13. Number of Complaints on the following made by employees and workers:

Category		FY 2023-24		FY 2022-23
	Filed during theyear	Pending resolution at the end ofyear	Remarks	Filed during the year Pending resolution at the end ofyear Remarks
Workingconditions	0	0	-	0 0 -
Health and Safety	0	0	-	0 0 -

84 Solara Active Pharma Sciences Limited

14. Assessments for the year:

Assessments for the year:
	% of your plants and ofces that were assessed (by entity or
	statutory authorities or thirdparties)
Health and safetypractices	87.5%
Workingconditions	87.5%

15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on significant risks / concerns arising from assessments of health & safety practices and working conditions.

The following are the corrective actions were taken on significant risks.
Hazard identification and Risk assessment and Job safety analysis has carried out for all critical activities.
All locations has identified the significant risk activities, concerns arising from assessment of Health & safety practices are addressed accordingly control measures has been taken by implementing necessary Engineering & Administrative controls.
Training needs for employees has been identified, and annual training calendar has been prepared.
Risk Based Process Safety Management has been implemented and monitored at all the locations to prevent intended release of chemical.
Corporate EHS guideline and Procedures is established for all activities and is reviewed periodically.
Periodic audit and inspection is carried out on all critical equipment and potable tools & equipment.
Preventive maintenance is performed for all equipment, and testing and calibration is performed for all safety devices such as pressure/ vacuum gauge, safety relief valve, NRV, control / ON/Off valves, Pressure reducing valves etc.,
Management of Change process is in-place to assess the hazard associated with the change.
Leadership rounds are regularly performed by site leadership team to identify the unsafe acts & conditions.
Identification & Reporting of Near miss by Employees is in place and 100% investigation of all near miss is conducted.
Investigation of all incidents and 100% implementation of all corrective action. Investigation reports and its learnings are shared across all Solara sites for deployment of corrective action to prevent similar incident. Also, effectiveness is checked during the safety inspection / audit.
Personal Protective equipment (PPE) compliance is monitored through strict supervision.
Internal audits of Solara Units at site level are conducted on a periodic basis. Corrective and preventive measures are taken based on the findings.
Detailed investigations are carried out for all accidents to identify the root causes and to understand the measures required to prevent recurrence.
Accident investigation findings with corrective and preventive measures form part of the report presented to the Safety Committee on monthly basis, site ORM and to the Board each quarter. The learnings from all accidents are disseminated across the organization at periodic intervals and formal compliance is obtained.

Leadership Indicators

Does the entity extend any life insurance or any compensatory package in the event of death of (A) Employees (Y/N) (B) Workers (Y/N).
A. Employees – Yes
B. Workers – Yes
Provide the measures undertaken by the entities to ensure that statutory dues have been deducted and deposited by the value chain partners.

To ensure that the statutory dues as applicable within its remit, are deducted and deposited by the value chain partners in accordance with relevant regulations through constant monitoring of available tools and the documentary proofs from the value chain partners. The Company expects its value chain partners to uphold business responsibility principles and values of transparency and accountability.

Annual Report 2023-24

Does the entity provide transition assistance programs to facilitate continued employability and the management of career endings resulting from retirement or termination of employment? (Yes/ No) Yes

Principle 4: Businesses should respect the interests of and be responsive to all its stakeholders.

Essential Indicators

Describe the process for identifying key stakeholder groups of the entity.
Any individual or group of individuals or institutions that adds value to the business or is materially affected by entity’s decision is identified as a core stakeholder. Solara has recognized both, internal stakeholder (which includes employees and leadership), and external stakeholder (which includes regulators, investors, suppliers, customers and community) as an integral part of our operations.
List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group.

Stakeholder Group	Whether identifed as vulnerable and marginalized group (Yes/No)	Channels of communication (Email, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website), Other	Frequency of engagement (annually, half yearly, quarterly, others – please specify)	Purpose and scope of engagement including key topics and concerns raised during such engagement
Employees	No	• Intranet Portal	On a regular basis	• Employee benefts
		• Functional and cross-		• Learning and
		functional committees		development
		• Leader’s talk		• Safety and well-being
		• Regular Employee		• Performance review and
		Communication Forums		career development
				• Business update
Customers	No	• Customer Satisfaction Survey	On a regular basis	• Customer feedback
		• Customer meets		• Resolution of their open
		• Digital/ telephonic Interactions		issues
Suppliers and	No	• Supplier and Vendor meets	Half yearly	• Resolving open issues
Vendors		• Face-to-face and electronic		• Assessing performance
		correspondence		• Recognition and
		• Digital/		• engagement activities
		• telephonic Interactions		• Undertaking discussion on
				SustainabilityParameters
Investors /	No	Email, newspaper advertisement,	Need based and	To update them about
Shareholders		website, Annual General	Quarterly calls	important developments
		Meetings, disclosures to		(performance, strategy,
		stock exchanges and investor		growth and opportunities)
		meetings / calls / conferences		in the Company and address
				theirgrievances
Community	No	• Physical meetings	Concurrent /need basis	• Community development
		• Digital interactions		through various initiatives of CSR
				• Community grievance
				redressal
Regulatory and	No	• Physical meetings	On a need basis	• Policy Advocacy with
government bodies		• Digital communications • Through submissions		concerned authorities • Deliberations and inputs on regulations and policies
				that have bearing on our
				operations and businesses.
				• For our core business
				activities of development,
				manufacturing, and sales

86 Solara Active Pharma Sciences Limited

Leadership Indicators

Provide the processes for consultation between stakeholders and the Board on economic, environmental, and social topics or if consultation is delegated, how is feedback from such consultations provided to the Board.

Regular consultation happens with the various stakeholder on a need basis. These consultations happen through our various functional as well as plant heads, wherein feedbacks concerning economic, environmental, and social topics are raised. Critical feedbacks are reported to the board for further assessment and action

Whether stakeholder consultation is used to support the identification and management of environmental, and social topics (Yes / No). If so, provide details of instances as to how the inputs received from stakeholders on these topics were incorporated into policies and activities of the entity.
Yes, we have a policy concerning stakeholder management. No instances have been recorded in the reporting period.
Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/ marginalized stakeholder groups.
There have been no concerns raised from vulnerable/ marginalized stakeholder groups.

Principle 5: Businesses should respect and promote human rights.

Essential Indicators

Employees and workers who have been provided training on human rights issues and policy(ies) of the entity, in the following format:

		FY 2023-24		FY 2022-23
Category
	Total (A)	No. of employees/ workers covered (B)	% (B / A)	Total (C) No. of employees/ workers covered (D) % (D/C)
Employees
Permanent	1756	1756	100.0%	1632 1632 100%
Other thanpermanent	11	11	100.0%	10 0 0%
Total Employees	1767	1767	100.0%	1642 1632 99%
Workers
Permanent	705	705	100.0%	729 729 100%
Other thanpermanent	1100	1100	100.0%	1093 1093 100%
Total Workers	1805	1805	100.0%	1822 1822 100%

Note: Solara ensures human rights training of all the employees and the employees are aware of the human rights policy which is available on Company website.

Details of minimum wages paid to employees and workers, in the following format:

Category		FY 2023-24	FY 2023-24				FY 2022-23*
	Total (A)	Equal to Minimum Wage		More than Minimum Wage		Total (D)	Equal to Minimum Wage More than Minimum Wage
		No. (B)	% (B / A)	No. (C)	% (C / A)		No. (E) % (E / D) No. (F) % (F/ D)
Employees
Permanent	1756	0	0.0%	1756	100.0%	1632 321 20% 1311 80%
Male	1609	0	0.0%	1609	100.0%	1494 297 20% 1197 80%
Female	147	0	0.0%	147	100.0%	132 24 17% 114 83%
Other than Permanent	11	0	0.0%	11	100.0%	10 0 0% 10 100%
Male	8	0	0.0%	8	100.0%	8 0 0% 8 100%
Female	3	0	0.0%	3	100.0%	2 0 0% 2 100%
				WORKERS
Permanent	705	0	0.0%	705	100.0%	729 138 19% 591 81%
Male	704	0	0.0%	704	100.0%	728 138 19% 590 81%
Female	1	0	0.0%	1	100.0%	1 0 0% 1 100%
Other than permanent	1100	1100	100.0%	0	0.0%	1093 1093 100% 0 0%
Male	998	998	100.0%	0	0.0%	988 983 100% 0 0%
Female	102	102	100.0%	0	0.0%	105 105 100% 0 0%

*Minimum wage details for other than permanent employees and workers were not reported in FY 2022-23, which have been disclosed in this report.

Annual Report 2023-24

Details of remuneration/salary/wages, in the following format: a. Median remuneration / wages:

Median remuneration / wages:
	Male Female
	Number Median remuneration/ salary/ wages of respective category Number Median remuneration/ salary/ wages of respective category
Board of Directors (BoD)	2 INR 1,83,26,346# 0 0
KeyManagement Personnel	2 INR 48,79,844 0 -
Employees other than BoD and KMP	1617 INR 6,01,644 150 INR 5,25,000
Workers	1702 INR 4,60,997 103 INR 5,49,426

*The median remuneration pertains to Executive Directors.

The value of remuneration highlights the remuneration paid to 4 Directors. Out of the 4 members, Mr. Jitesh Devendra, Managing Director & Mr. S Hariharan, Executive Director & CFO ceased to be a Director in Solara on July 05, 2023, & July 31, 2023, respectively and Mr. Poorvank Purohit, Managing Director, and CEO & Mr. Mohan Muthunarayanan, Executive Director undertook the responsibilities of directorship in Solara on July 05, 2023, & February 14, 2024, respectively.

@ Key Managerial Personnel mentioned above excludes Board of Directors

b. Gross wages paid to females as % of total wages paid by the entity, in the following format:

	FY 2023-24	FY 2022-23*
Safety Incident/Number
Gross wagespaid to females as % of total wages	4.3%	4.8%

Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues caused or contributed to by the business? (Yes/No)

Yes. the CHRO is the designated person for addressing human rights impacts or issues.

Describe the internal mechanisms in place to redress grievances related to human rights issues
Process for grievance redressal has been detailed in Employee Disciplinary Action Policy
Number of Complaints on the following made by employees and workers:

		FY 2023-24		FY 2022-23
Category
	Filed during the year	Pending resolution at the end ofyear	Remarks	Filed during the year Pending resolution at the end ofyear Remarks
Sexual Harassment	0	0	-	0 0 -
Discrimination at workplace	0	0	-	0 0 -
Child Labour	0	0	-	0 0 -
Forced Labour/ InvoluntaryLabour	0	0	-	0 0 -
Wages	0	0	-	0 0 -
Other human rights related issues	0	0	-	0 0 -

Complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, in the following format:

Redressal) Act, 2013, in the following format:
	FY 2023-24	FY 2022-23*
Safety Incident/Number
Total complaints reported under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH)	0	0
Complaints on POSH as a % of female employee/ workers	0	0
Complaints on POSH upheld	0	0

88 Solara Active Pharma Sciences Limited

Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases. Solara is committed to ensuring that no employee who brings forward a harassment concern is subject to any form of reprisal. Any reprisal will be subject to disciplinary action. Through the Code of Conduct and defined polices, Solara ensures that the victim or witnesses are not victimized or discriminated against while dealing with complaints of sexual harassment.
Do human rights requirements form part of your business agreements and contracts? (Yes/No) No, human rights requirements are not explicitly included in our business agreements and contracts. However, it is clearly stated that all parties involved in our business dealings are expected to comply with all relevant laws, including human rights obligations.
Assessments for the year:

Assessments for the year:
	% of your plants and ofces that were assessed (by entity or
	statutory authorities or thirdparties)
Child labour	100.0%
Forced/involuntarylabour	100.0%
Sexual harassment	100.0%
Discrimination at workplace	100.0%
Wages	100.0%
Others –please specify	-

Provide details of any corrective actions taken or underway to address significant risks / concerns arising from the assessments at Question 10 above.

Not Applicable

Leadership Indicators

Details of a business process being modified / introduced as a result of addressing human rights grievances/ complaints.

Not Applicable

Details of the scope and coverage of any Human rights due- diligence conducted.
Not Applicable
Is the premise/office of the entity accessible to differently abled visitors, as per the requirements of the Rights of Persons with Disabilities Act, 2016?

Yes, Solara has an Equal Opportunity, Diversity and Inclusion Policy that promotes a fair and transparent work environment based on diversity and inclusion of all people, including people with disability and our premises are also accessible to differently abled visitors as per the requirements of the Rights of Persons with Disabilities Act. The offices include disabled friendly lifts, washrooms and ramps, etc. to provide an accessible and comfortable work environment to persons with disabilities.

Annual Report 2023-24 89

Principle 6: Businesses should respect and make efforts to protect and restore the environment

Essential Indicators

Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format:

	FY 2023-24	FY 2022-23*

From renewable sources
Total electricityconsumption (A)	14,00,05,515	12,38,89,685
Total fuel consumption (B)	72,02,87,457	70,82,87,151
Energyconsumption through other sources (C)	0	0
Total energyconsumed from renewable sources (A+B+C)	86,02,92,972	83,21,76,836
From non-renewable sources
Total electricityconsumption (D)	21,93,27,807	19,78,86,024
Total fuel consumption (E)	15,40,72,727	13,34,70,276
Energyconsumption through other sources (F)	0	0
Total energyconsumed from non-renewable sources (D+E+F)	37,34,00,534	33,13,56,300
Total energyconsumed (A+B+C+D+E+F)	1,23,36,93,506	1,16,35,33,136
Energy intensity per rupee of turnover (Total energyconsumption/ revenue from operations)	0.095	0.079
Energy intensity per rupee of turnover adjusted for Purchasing Power Parity (PPP) (Total energyconsumption/ revenue from operations adjusted for PPP)	2.14#	1.76#
Energyintensityin terms ofphysical output (MJ/MT)	1,74,283	1,89,377
Energy intensity (optional) – the relevant metric may be selected by the entity	-	-

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. - No

The data includes energy consumption from a discontinued R&D center in Bangalore, till March 2024.

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

Does the entity have any sites / facilities identified as designated consumers (DCs) under the Performance, Achieve and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose whether targets set under the PAT scheme have been achieved. In case targets have not been achieved, provide the remedial action taken, if any.

Not applicable. There are no sites/facilities that have been identified as Designated Consumers (DCs) under the Performance, Achieve and Trade (PAT) Scheme of the Government of India.

Provide details of the following disclosures related to water, in the following format:

	FY 2023-24	FY 2022-23*

Water withdrawal by source (in kilolitres)
(i) Surface water	0	0
(ii) Groundwater	43,878	42,771
(iii) Thirdpartywater (Municipal water supplies)	3,40,105	3,17,546*
(iv) Seawater / desalinated water	0	0
(v) Others	13,297	14,784
Total volume of water withdrawal (in kilolitres) (i + ii + iii + iv + v)	3,97,280	3,75,101*
Total volume of water consumption (in kilolitres)	3,88,020	3,71,607*
Water intensity per rupee of turnover (Water consumed / revenue from operations) (in Milli Litres/ Rupees)	29.98	25.35
Water intensity per rupee of turnover adjusted for Purchasing Power Parity (PPP) (Water consumed / revenue from operations adjusted for PPP) (in Milli Litres/ Rupees)	671.54#	561.99#
Water intensityin terms ofphysical output (KL/MT)	54.82	60.48
Water intensity (optional) – the relevant metric may be selected by the entity	-	-

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. - No

The data also includes water withdrawal and consumption from a discontinued R&D center in Bangalore for April 2023 & May 2023.

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

90 Solara Active Pharma Sciences Limited

Provide the following details related to water discharged:

Provide the following details related to water discharged:
	FY 2023-24	FY 2022-23*

Water discharge by destination and level of treatment(in kilolitres)
(i)To Surface water	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(ii)To Groundwater	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(iii)To Seawater	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(iv)Sent to third-parties	9,260	10,035
- No treatment	9,260	10,035
- With treatment –please specifylevel of treatment	0	0
(v)Others	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
Total water discharged(in kilolitres)	9,260	10,035

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. – No

The data includes water discharge from a discontinued R&D center in Bangalore for April 2023 & May 2023.

5. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and implementation.

5 units out of 8 units (6 manufacturing locations and 2 offices) in the Solara active Pharma Sciences Limited are Zero Liquid Discharge (ZLD). The Company implements water conservation through reduce, reuse, recharge and recycle approach within its manufacturing locations. As part of recycle initiative, the Company provides tertiary treatment to its effluent, the treated effluent water is then effectively recycled and reused as make-up water in cooling towers and in-house gardening.

Please provide details of air emissions (other than GHG emissions) by the entity, in the following format:

	FY 2023-24	FY 2022-23*
Parameter Please specify unit
NOx Metric tonne	103*	Solara was in the process of measuring emissions for reporting in the next fnancial year (FY24).
Sox Metric tonne	28*
Particulate matter(PM) Metric tonne	84*
Persistent organicpollutants(POP) Metric tonne	0
Volatile organic compounds(VOC) Metric tonne	0
Hazardous airpollutants(HAP) Metric tonne	0
Ozone DepletingSubstances CFC-11 Equivalent	70	41

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. - No

*The details for air emissions excludes the NOx, SOx and PM emissions from Sales & Marketing office located in Bangalore which has minimal environment footprint and is considered non-material from environmental impact perspective.

Annual Report 2023-24 91

Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity, in the following format:

format:
	FY 2023-24	FY 2022-23*
Parameter Unit
Total Scope 1 emissions (Break-up of the GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, NF3, if available) Metric tonnes of CO2equivalent	33,489*	11,168
Total Scope 2 emissions (Break-up of the GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, NF3, if available) Metric tonnes of CO2equivalent	43,622**	43,425
Total Scope 1 and Scope 2 emissions intensity per rupee of turnover (Total scope 1 and scope 2 GHG emissions/ revenue from operations)	0.0000060	0.0000037^
Total Scope 1 and Scope 2 emissions intensity per rupee of turnover adjusted for Purchasing Power Parity (Total scope 1 and scope 2 GHG emissions/ revenue from operations adjusted for PPP)	0.00013#	0.00008#
Total Scope 1 and Scope 2 emission intensity in terms of physical output (tCO2e/MT)	10.89	8.89
Total Scope 1 and Scope 2 emission intensity (optional) – the relevant metric maybe selected bythe entity	-	-

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. - No

The total Scope 1 emissions have increased in FY 2023-24 as it includes the emissions from Ozone Depleting Substances which were not accounted for computation of Scope 1 emissions in FY 2022-23 due to unavailability of information

** The data includes scope 2 emissions from a discontinued R&D center in Bangalore, till March 2024.

^ The value of Scope 1 and Scope 2 emission intensity for FY 2022-23 are restated to report intensity per rupee of turnover from previously reported intensity per crore rupees of turnover

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

Does the entity have any project related to reducing Green House Gas emission? If Yes, then provide details. Solara has initiated a process to increase renewable energy from 27% to 40% by FY25 (from the base year FY21) to address global environmental issues such as climate change and global warming and to thereby reduce the GHG footprint. Through these initiatives, Solara aims to contribute to the UN Sustainable Development Goal 12 - Responsible Consumption and Production and SDG 13 - Climate Action.

9. Provide details related to waste management by the entity, in the following format:

	FY 2023-24	FY 2022-23*
Parameter
Total Wastegenerated(in metric tonnes)*
Plastic waste(A)	22	0
E-waste(B)	1	1.6
Bio-medical waste(C)	2	2.4
Construction and demolition waste(D)	0	0
Batterywaste(E)	0	4.4
Radioactive waste(F)	0	0
Other Hazardous waste. Please specify, if any.(G)	33,723	32,976
Other Non-hazardous waste generated (H). Please specify, if any. (Break-up by composition i.e. bymaterials relevant to the sector)	523	531
Total(A+ B + C + D + E + F + G + H)	34,272	33,515
Waste intensity per rupee of turnover (Total waste generated / revenue from operations)	0.0000026	0.00000229
Waste intensity per rupee of turnover adjusted for Purchasing Power Parity (PPP) (Total wastegenerated/ revenue from operations adjusted for PPP)	0.000059#	0.000051#
Waste intensityin terms ofphysical output(MT)	4.84	5.45
Waste intensity (optional)– the relevant metric maybe selected bythe entity	-	-

92 Solara Active Pharma Sciences Limited

Parameter

FY 2023-24 FY 2022-23*

For each category of waste generated, total waste recovered through recycling, re-using or other recovery operations (in metric tonnes)*

operations (in metric tonnes)*
Category of waste
(i) Recycled	28,125	27,127^
(ii) Re-used	0	0^
(iii) Other recoveryoperations	4,591	3,125^
Total	32,716	30,252^
For each category of wastegenerated, total waste disposed by nature of disposal method (in metric tonnes)
Category of waste
(i) Incineration	120	114^
(ii) Landflling	1,399	3168^
(iii) Other disposal operations	0	0^
Total	1,519	3,282^

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency - No

*The details for waste generated and waste disposed excludes the waste at Sales & Marketing office located in Bangalore which has minimal environment footprint and is considered non-material from environmental impact perspective.

^ The values for waste directed from disposal and waste diverted from disposal in FY 2022-23 have been restated due to revised classification of waste from ‘other disposal operations’ to ‘recycled’ and ‘other recovery operations’. The waste recycled includes all waste sent to authorized recyclers and waste recovered through other recovery operations includes waste sent for co-processing.

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP)

Briefly describe the waste management practices adopted in your establishments. Describe the strategy adopted by your company to reduce usage of hazardous and toxic chemicals in your products and processes and the practices adopted to manage such wastes.
Evaluation of product through literature and select the route with less toxic chemicals and least hazardous waste by-product.
Process development of the manufacturing products to reduce usage of hazardous and toxic.
We continuously work on process improvement, yield improvement and improving solvent recoveries, recycling, reducing hazardous waste to landfill and incineration.
If the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones etc.) where environmental approvals / clearances are required, please specify details in the following format:

			Whether the conditions of environmental approval
Sr No	Location of operations/ ofces	Type of operations	/ clearance are being complied with? (Y/N) If no, the reasons thereof and corrective action
			taken, if any.
1	Research & Development and General administration	Solara Active Pharma research centre and corporate ofce situated at	Yes, site is complying to consent to Operate (CFO/ CTO) conditions
		Keelakottaiyur Village, Melakottaiyur
		(PO) Chennai – 600127, which is 7.00
		Km from Vandaloor Zoo.

Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in the current financial year:

Name and brief details ofproject	EIA Notifcation No. Date Whether conducted by independent external agency (Yes / No) Results communicated in public domain (Yes / No)	Relevant Web link
Not Applicable	since no expansionprojects nor change inproduct mix was executed in this fnancial	year

Is the entity compliant with the applicable environmental law/ regulations/ guidelines in India; such as the Water (Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, Environment protection act and rules thereunder (Y/N). If not, provide details of all such non-compliances, in the following format:

S. Specify the law / regulation Provide details of the Any fines / penalties / action taken by Corrective action taken, No / guidelines which was not complied with non-compliance regulatory agencies such as pollution control boards or by courts if any Yes, we are compliant with all the applicable environmental law/ regulations/ guidelines

Annual Report 2023-24 93

Leadership Indicators

Water withdrawal, consumption and discharge in areas of water stress (in kilolitres):
For each facility / plant located in areas of water stress, provide the following information:
(i) Name of the area - Puduchery, Chennai and Bangalore
(ii) Nature of operations: API manufacturing site in Puducherry, corporate office in Chennai, and sales & marketing office and a discontinued R&D centre in Bangalore
(iii) Water withdrawal, consumption and discharge in the following format:

	FY 2023-24	FY 2022-23*
Parameter
Water withdrawal by source(in kilolitres)
(i)Surface water	0	0
(ii)Groundwater	35,319	35,803*
(iii)Thirdpartywater	480	0
(iv)Seawater/desalinated water	0	0
(v) Others	13,297	14,784*
Total volume of water withdrawal (in kilolitres)	49,096	50,587*
Total volume of water consumption(in kilolitres)	49,096	50,587
Water intensity per rupee of turnover (Water consumed / turnover) (milli litres / rupees)	3.79	3.45
Water intensity(optional) – the relevant metric maybe selected bythe entity	-	-
Water discharge by destination and level of treatment (in kilolitres)
(i) Into Surface water	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(ii) Into Groundwater	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(iii) Into Seawater	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(iv) Sent to third-parties	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
(v) Others	0	0
- No treatment	0	0
- With treatment –please specifylevel of treatment	0	0
Total water discharged (in kilolitres)	0	0

Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. - No

The values of water withdrawal for FY 2022-23 have been restated due to re-classification of water withdrawn under groundwater from previously reported category as third-party water and revised reporting of water withdrawn under others category.
If the entity has undertaken any specific initiatives or used innovative technology or solutions to improve resource efficiency, or reduce impact due to emissions / effluent discharge / waste generated, please provide details of the same as well as outcome of such initiatives, as per the following format:

Sr No	Initiative undertaken	Details of the initiative (Web-link, if any, may beprovided along-with summary)	Outcome of the initiative
1	Reduce carbon emissions	Using energy-efcient equipment and energy-efcient lightingin our ofces	75% less energy than conventional lighting
2	Measures to conserve water	Use of sensor-based taps and use of aerators in taps to reduce water fow	Reduction of Water Consumption
3	Waste reduction	Installation of paddle dryer	Reduction in moisture content of waste resulted
			in reduction of waste quantity generated hence
			quantitydisposed also reduced.

Does the entity have a business continuity and disaster management plan? Give details in 100 words/ web link.

Yes, the Company has a business continuity and on-site emergency plan for all its locations. This business continuity plan enables the Company to adapt in situations arising from any natural calamity or an unprecedented event that may disrupt the business operations. The Company continuously enhances its existing plan by incorporating interferences and observations from disruptions faced in unprecedented situations such as the

94 Solara Active Pharma Sciences Limited

pandemic. Further, the Company’s risk management plan enables the minimization of disaster-linked losses, by assessing the potential for major disruption and its consequent risks to the business, and by providing the appropriate mitigation action plans.

Disclose any significant adverse impact to the environment, arising from the value chain of the entity. What mitigation or adaptation measures have been taken by the entity in this regard. No significant adverse impact to the environment, arising from the value chain has been identified.
Percentage of value chain partners (by value of business done with such partners) that were assessed for environmental impacts.
6% of value chain partners (by value of business done with such partners) were assessed for environmental impacts.

Principle 7: Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent.

Essential Indicators

A. Number of affiliations with trade and industry chambers/ associations. Solara is affiliated with 4 industry chambers and associations.
B. List the top 10 trade and industry chambers/ associations (determined based on the total members of such body) the entity is a member of/ affiliated to.

Sr No	Name of the trade and industry chambers/ associations	Reach of trade and industry chambers/ associations (State/National)
1	Pharmaceuticals Export Promotion Council of India	National
2	Federation of Indian Export Organisations	National
3	Southern Indian Chamber of Commerce & Industry	National
4	Export Promotion Council for EOUs & SEZs	International

Provide details of corrective action taken or underway on any issues related to anti-competitive conduct by the entity, based on adverse orders from regulatory authorities.

Name of authority Brief of the case Corrective action taken
No case was fled byanystakeholder against Solara regardingunfair tradepractices and anti-competitive behavior

Principle 8: Businesses should promote inclusive growth and equitable development.

Essential Indicators

Details of Social Impact Assessments (SIA) of projects undertaken by the entity based on applicable laws, in the current financial year.

in the current fnancial year.	in the current fnancial year.
Name and brief details of project SIA Notifcation No.		Date of notifcation	Whether conducted by independent external agency (Yes / No)	Results communicated in public domain (Yes / No)	Relevant Web link
			Not Applicable
Provide information on	project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being
undertaken by your entity, in the following format:
S. No Name of Project for which R&R is ongoing	State	District	No. of Project Affected Families (PAFs)	% of PAFs covered by R&R	Amounts paid to PAFs in the FY (In INR)
			Not Applicable

Provide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being undertaken by your entity, in the following format:
Describe the mechanisms to receive and redress grievances of the community.
Quarterly meeting with the representatives of the community to understand the requirements and the support needed from our end.
Third party assessment
Government notifications
Percentage of input material (inputs to total inputs by value) sourced from suppliers:

	FY 2023-24	FY 2022-23*
Parameter
Directlysourced from MSMEs/smallproducers	11%	7%
Directlyfrom within India	81%	65%*

*The value for percentage of input material sourced directly from suppliers within India has been restated owing to change in data consolidation approach.

Annual Report 2023-24

Job creation in smaller towns – Disclose wages paid to persons employed (including employees or workers employed on a permanent or non-permanent / on contract basis) in the following locations, as % of total wage cost:

wage cost:
	FY 2023-24	FY 2022-23*
Parameter
Rural	0.0%	0.0%
Semi urban	5.2%	4.8%
Urban	59.4%	62.2%
Metropolitan	35.4%	33.0%

Leadership Indicators

Provide details of actions taken to mitigate any negative social impacts identified in the Social Impact Assessments (Reference: Question 1 of Essential Indicators above):

Details of negative social impact identifed	Corrective action taken
	Not Applicable

	Details of negative social impact identifed Corrective action taken Not Applicable
2.	Provide the following information on CSR projects undertaken by your entity in designated aspirational districts as identifed by government bodies:
	Sr No State Aspirational District Amount Spent (in INR)
	Not Applicable

3.	Details of the benefts derived and shared from the intellectual properties owned or acquired by your entity (in the current fnancial year), based on traditional knowledge:
	S. No Intellectual Property based on traditional knowledge Owned/ Acquired (Yes/ No) Beneft shared (Yes / No) Basis of calculating beneft share
	Not Applicable

4. 5.	Details of corrective actions taken or underway, based on any adverse order in intellectual property related disputes wherein usage of traditional knowledge is involved.
	Name of the authority Brief of the Case Corrective action taken
	Not Applicable
	Details of benefciaries of CSR Projects:
	Sr No CSR Project No. of persons beneftted from CSR Projects % of benefciaries from vulnerable and marginalizedgroups
	1 Health 14,700 100.0%
	2 Safe DrinkingWater 7,300 100.0%
	3 CommunityWelfare & Support 2,550 100.0%
	4 Education 664 100.0%

Principle 9: Businesses should engage with and provide value to their consumers in a responsible manner.

Essential Indicators

Describe the mechanisms in place to receive and respond to consumer complaints and feedback.
We have QMS in place and the customer complaints are dealt with in accordance with the SOPs in place.
Turnover of products and/ services as a percentage of turnover from all products/service that carry information about:

information about:
	As apercentage to total turnover
Environmental and socialparameters relevant to theproduct	100.0%
Safe and responsible usage	100.0%
Recyclingand/or safe disposal	100.0%

96 Solara Active Pharma Sciences Limited

3. Number of consumer complaints in respect of the following:

		FY 2023-24	FY 2023-24	FY 2022-23
Category
	Received during the year	Pending resolution at end ofyear	Remarks	Received during the year Pending resolution at end ofyear Remarks
Data Privacy	0	0	-	0 0 -
Advertising	0	0	-	0 0 -
Cyber Security	0	0	-	0 0 -
Deliveryof essential services	0	0	-	0 0 -
Restrictive Trade Practices	0	0	-	0 0 -
Unfair Trade Practices	0	0	-	0 0 -
Other: Quality	20	5	3 complaints were closed in April & May 2024. Final Investigation has been shared with customer for other 2 complaints and customer feedback for fnal closure is awaited.	20 8 -
Other: Packingissue	8	0	-	3 1 -
Other: Other category	6	0	-	5 1 -

Details of instances of product recalls on account of safety issues:

	Number	Reasons for recall
Voluntaryrecalls	0	-
Forced recalls	0	-

Does the entity have a framework/ policy on cyber security and risks related to data privacy? (Yes/No) If available, provide a web-link of the policy.

Solara upholds the Information Security Policy and ensures that all staff members receive training on the policy. The policy outlines the procedures for safeguarding and managing the Company’s information and assets. Additionally, it establishes clear roles and responsibilities for information protection and managing cyber incidents.

Web link to the policy: https://solara.co.in/wp-content/uploads/2023/07/Information-Technology-Security-Policy. pdf

Provide details of any corrective actions taken or underway on issues relating to advertising, and delivery of essential services; cyber security and data privacy of customers; re-occurrence of instances of product recalls; penalty / action taken by regulatory authorities on safety of products / services.
Active monitoring of cyber security for Solara Pharma Ltd is handled both internally and by third-party experts. Routine reviews are carried out, and necessary steps are taken to enhance the cyber security measures. Employees are educated on data privacy awareness, and new procedures for data privacy requirements are being reviewed and prepared for implementation.
Provide the following information relating to data breaches:
a. Number of instances of data breaches - No data breach for the financial year 2023-24

b. Percentage of data breaches involving personally identifiable information of customers - No data breach for the financial year 2023-24

c. Impact, if any, of the data breaches – Not Applicable

Annual Report 2023-24 97

AI assistant

SOLARA ACTIVE PHARMA SCIENCES LIMITED — Environmental & Social Information 2024

61842_rns_2024-08-28_666b1488-e710-4a32-86b7-3ec0b129ac3b.pdf

Scrip Code: 541540, 890202 Scrip Code: SOLARA, SOLARAPP

Sub: Business Responsibility and Sustainability Report for the FY 2023-24

Ref: Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

For Solara Active Pharma Sciences Limited

Business Responsibility and Sustainability Report

SECTION A: GENERAL DISCLOSURES

II. Products/services

I. Operations

19. Markets served by the entity:

IV. Employees

20. Details as at the end of Financial Year:

a. Employees and workers (including differently abled):

b. Differently abled Employees and workers:

21. Participation/Inclusion/Representation of women

22. Turnover rate for permanent employees and workers (Disclose trends for the past 3 years)

V. Holding, Subsidiary and Associate Companies (including joint ventures)

23. (a) Names of holding / subsidiary / associate companies / joint ventures

VI. CSR Details

VII. Transparency and Disclosures Compliances

25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct:

26. Overview of the entity’s material responsible business conduct issues

SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

Governance, leadership, and oversight

7. Statement by director responsible for the business responsibility report, highlighting ESG related challenges, targets and achievements (listed entity has flexibility regarding the placement of this disclosure)

No

10. Details of Review of NGRBCs by the Company:

12. If answer to question (1) above is “No” i.e. not all Principles are covered by a policy, reasons to be stated:

SECTION C: PRINCIPLE WISE PERFORMANCE

Principle 1: Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical, Transparent and Accountable.

Essential Indicators

Leadership Indicators

Principle 2: Businesses should provide goods and services in a manner that is sustainable and safe.

Essential Indicators

Leadership Indicators

Principle 3: Businesses should respect and promote the well-being of all employees, including those in their value chains

Essential Indicators

b. Details of measures for the well-being of workers:

2. Details of retirement benefits, for Current FY and Previous Financial Year.

3. Accessibility of workplaces

Are the premises / offices of the entity accessible to differently abled employees and workers, as per the requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the entity in this regard.

6. Is there a mechanism available to receive and redress grievances for the following categories of employees and worker? If yes, give details of the mechanism in brief.

Yes/ No

8. Details of training given to employees and workers:

10. Health and safety management system:

11. Details of safety related incidents, in the following format

12. Describe the measures taken by the entity to ensure a safe and healthy workplace.

13. Number of Complaints on the following made by employees and workers:

14. Assessments for the year:

15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on significant risks / concerns arising from assessments of health & safety practices and working conditions.

Leadership Indicators

Principle 4: Businesses should respect the interests of and be responsive to all its stakeholders.

Essential Indicators

Leadership Indicators

Principle 5: Businesses should respect and promote human rights.

Essential Indicators

Leadership Indicators

Principle 6: Businesses should respect and make efforts to protect and restore the environment

Essential Indicators

For the purpose of calculation of intensity, conversion factor @22.40 INR/USD for FY 2023-24 and conversion factor @22.17INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

For the purpose of calculation of intensity, conversion factor @22.40 INR/USD for FY 2023-24 and conversion factor @22.17INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

5. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and implementation.

For the purpose of calculation of intensity, conversion factor @22.40 INR/USD for FY 2023-24 and conversion factor @22.17INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

9. Provide details related to waste management by the entity, in the following format:

Parameter

For the purpose of calculation of intensity, conversion factor @22.40 INR/USD for FY 2023-24 and conversion factor @22.17INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP)

Leadership Indicators

Principle 7: Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent.

Essential Indicators

Principle 8: Businesses should promote inclusive growth and equitable development.

Essential Indicators

Leadership Indicators

Principle 9: Businesses should engage with and provide value to their consumers in a responsible manner.

Essential Indicators

3. Number of consumer complaints in respect of the following:

More from SOLARA ACTIVE PHARMA SCIENCES LIMITED

SOLARA ACTIVE PHARMA SCIENCES LIMITED Environmental & Social Information 2024

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP).

For the purpose of calculation of intensity, conversion factor @22.40 `INR/USD for FY 2023-24 and conversion factor @22.17`INR/ USD for FY 2022-23 as per IMF has been considered to calculate turnover adjusted for Purchasing Power Parity (PPP)