Marksans Pharma Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Marksans Pharma announced that its wholly owned subsidiary, Relonchem has received marketing approval from UK MHRA for the below mentioned products:

1) Rasagiline Relonchem 1 mg Tablets
2) Olmesartan 10 mg Film-coated Tablets
3) Olmesartan 20 mg Film-coated Tablets
4) Olmesartan 40 mg Film-coated Tablets

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Marksans Pharma announced that the Board of Directors of the Company at its meeting held on 30 May 2024, inter alia, have recommended the final dividend of Rs 0.6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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Revenue from operations jumped 15.23% YOY to Rs 560.01 crore in Q4 FY24, driven by volume gains, new launches, addition of new customers, and increase in our share with existing customers.

Profit before tax fell 3.74% to Rs 100.27 crore in Q4 FY24 as compared to Rs 104.17 crore in Q4 FY23.

EBITDA rose marginally to Rs 109.6 crore in Q4 FY24 as compared to Rs 109.5 crore in Q4 FY23. EBITDA margin reduced to 19.6% in the fourth quarter as compared to 22.5% in the corresponding period last year, surge in freight cost, transit time due to red sea crisis, increase in expenses related to Teva acquisition and increased hiring in the new plant in Q4FY24 led to impact on EBITDA.

During the quarter, revenue from US & North America stood at Rs 245 crore (up 26.5% YoY) while UK and Europe stood at Rs 232.8 crore (up 12.9% YoY).

Revenue from Australia and New Zealand business stood at Rs 63.3 crore (down 0.1% YoY) in Q4 FY24.

Rest of World (ROW) business de-grew by 17.1% YoY to Rs 18.9 crore during the period under review.

On a full year basis, the company reported a consolidated profit climbed 18.68% to Rs 314.89 crore on 17.56% increase in revenue from operations 2,177.40 crore in FY24 over FY23.

Meanwhile, the board has declared a dividend of Rs 0.60 per share for the financial year ended 2024, The dividend will be paid within 30 days from the date of the AGM.

Mark Saldanha, managing director, Marksans Pharma, said, “We are delighted to report a strong performance in FY24 in terms of both revenue and profitability. Our operating revenue for the year grew year-on-year by 18% and EBITDA increased by 35%, supported by new product launches, increase in market share, reduction in raw material prices and operating leverage. This year we have not only met but exceeded our revenue target of Rs 2,000 crore.

We remain confident on delivering sustained long-term value for our shareholders, as we position ourselves strongly in terms of infrastructure, product mix and long-term customer relationships.”

Marksans Pharma is primarily engaged in the business of research, manufacture, marketing and sale of pharmaceutical formulations.

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Net profit of Marksans Pharma declined 4.44% to Rs 78.29 crore in the quarter ended March 2024 as against Rs 81.93 crore during the previous quarter ended March 2023. Sales rose 15.23% to Rs 560.01 crore in the quarter ended March 2024 as against Rs 485.98 crore during the previous quarter ended March 2023.

For the full year,net profit rose 17.80% to Rs 313.70 crore in the year ended March 2024 as against Rs 266.31 crore during the previous year ended March 2023. Sales rose 17.56% to Rs 2177.41 crore in the year ended March 2024 as against Rs 1852.14 crore during the previous year ended March 2023.

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