Marksans Pharma (MARKSANS) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated revenue of ₹26,228.45 million (₹2,623 crore) and net profit of ₹3,805.75 million (₹383 crore) for FY2025, with US market revenue growing 35% year-on-year and OTC segment revenue surpassing ₹2,000 crore.

• Strong performance across all regions, driven by new product launches, expanded OTC pipeline, and capacity expansion; statutory auditors issued unmodified opinions on financials.

• Board recommended a final dividend of ₹0.80 per equity share for FY25, subject to AGM approval.

• Appointment of Mr. Srinivas Mishra as Additional Independent Director for five years, effective April 1, 2025.

• Amendments to the Employee Stock Option Scheme 2024 approved, with a pool of 2.3 million options.

Financial highlights

• FY2025 consolidated operating revenue: ₹26,228.45 million (₹2,623 crore), up 20.5% year-on-year; Q4 FY2025 revenue: ₹708.5 crore, up 26.5% year-on-year.

• FY2025 EBITDA: ₹528.6 crore, up 15.3% year-on-year; EBITDA margin: 20.2%, down 90-91 bps due to higher employee and R&D expenses.

• FY2025 net profit: ₹3,805.75 million (₹383 crore), up 21.5% year-on-year; EPS: ₹8.40.

• Cash generated from operations: ₹206.7 crore; cash balance: ₹704 crore as of March 31, 2025.

• CapEx for FY2025: ₹173 crore, mainly for QUAD facility scale-up.

Outlook and guidance

• Confident of achieving ₹3,000 crore revenue in FY2026, implying ~17% growth; targeting to double US revenue and become a top 5 private label OTC company in North America.

• Aiming to be among the top 3 Indian pharma firms in the UK and expand through M&A in Europe.

• Operating leverage from new facilities expected to improve EBITDA margin to 21-22% as utilization increases in H2 FY2026.

• R&D spend to remain between 1.9%-2.2% of revenue annually.