Marksans Pharma (MARKSANS) Q4 25/26 earnings summary

Executive summary

• Achieved record FY26 revenue of ₹29,509.38 million, net profit of ₹4,179.00 million, and highest-ever profitability, driven by new launches, market expansion, and strong cash generation.

• Expanded international footprint with new subsidiaries in Ireland and Canada, and strengthened presence in Germany and Australia via branded prescription generics.

• North America remains the largest and fastest-growing market, with significant new product launches and a robust pipeline.

• Maintained robust cash balance of ₹6,341.37 million and a net cash positive position.

Financial highlights

• FY26 operating revenue reached ₹29,509.38 million, up 12.5% YoY; Q4 revenue was ₹8,910 million, up 20.8% YoY.

• Gross profit for FY26 was ₹16,740 million (gross margin 56.7%), and Q4 gross profit was ₹4,650 million (gross margin 54.4%).

• EBITDA for FY26 was ₹6,010 million (EBITDA margin 20.4%); Q4 EBITDA was ₹1,950 million (margin 22.8%).

• FY26 profit after tax was ₹4,179.00 million; Q4 profit after tax was ₹1,490 million, up 64.3% YoY.

• EPS for FY26 was ₹9.22; Q4 EPS was ₹3.3.

• Free cash flow for FY26 was ₹3,280 million; cash and cash equivalents stood at ₹6,341.37 million as of March 31, 2026.

Outlook and guidance

• Targeting ₹40,000 million revenue by FY28, with a roadmap to double revenue in 3–5 years.

• FY27 revenue growth expected in the 15–20% range; EBITDA margin guidance maintained at 20–21% despite raw material inflation.

• Plans to file over 200 products in the U.K. over the next four years, with a growing pipeline in North America and Europe.

• New market contributions from Germany, Ireland, and Canada expected to begin in the second half of FY27.

• Focus on expanding OTC business, innovation, and scaling Indian manufacturing capacity to 16bn units p.a.