This study examines the profitability, leverage, and working capital efficiency of Solara Active Pharma Sciences Limited over the five-year period from 2020–21 to 2024–25. The research evaluates how the company transitioned from exceptional pandemic-era profitability to post-pandemic financial stress and gradual operational recovery. Using audited standalone financial statements, the study applies profitability ratio analysis, leverage analysis, working capital efficiency ratios, DuPont decomposition, common-size analysis, and trend analysis. The findings reveal that Solara’s profitability sharply deteriorated after the COVID-19 demand surge, resulting in four consecutive years of losses and significant equity erosion. The debt-equity ratio increased from 0.32x to 1.07x, while liquidity ratios weakened substantially. However, the 2024–25 financial year showed early signs of recovery through improved gross profit margin, reduced working capital cycle, lower debt burden, and near-breakeven profitability. The study concludes that Solara’s operational efficiency remained relatively stable throughout the crisis, while the primary challenges were related to profitability compression and leverage pressure. Strategic recommendations are provided for profitability restoration, debt reduction, liquidity strengthening, and working capital optimisation.