Marksans Pharma (MARKSANS) Q2 25/26 earnings summary

Executive summary

• Q2 FY 2026 saw a 16% sequential revenue increase, driven by robust demand and operational execution in the U.S. and stable performance in the U.K. despite pricing pressures.

• EBITDA and PAT grew 44% and 70% quarter-on-quarter, reflecting operating leverage and improved execution.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved with unmodified auditor opinions.

• The group operates solely in the Pharmaceuticals segment.

Financial highlights

• Q2 FY 2026 operating revenue was ₹720.4 crore, up 16.2% QoQ and 12.2% YoY; H1 FY 2026 revenue reached ₹1,340.4 crore, up 8.8% YoY.

• Q2 FY 2026 EBITDA was ₹144.5 crore (20.1% margin), up 44.3% QoQ and 6.5% YoY; PAT at ₹99.1 crore, up 70.3% QoQ and 1.4% YoY.

• H1 FY 2026 gross profit was ₹770 crore (gross margin 57.4%), EBITDA ₹244.6 crore (margin 18.2%), PAT ₹157.3 crore.

• Cash generated from operations in H1 was ₹75.2 crore; CapEx at ₹73.2 crore; cash balance at ₹666.5 crore as of September 30, 2025.

• Standalone and consolidated revenues and profits grew year-over-year, with consolidated H1 FY26 revenue at ₹13,403.98 million and net profit at ₹1,573.41 million.

Outlook and guidance

• Confident in sustaining growth momentum for the rest of FY 2026, supported by a robust product pipeline and operational discipline.

• Targeting ₹3,000 crore revenue by next year and ₹5,000 crore over five to seven years; U.K. revenue expected to double in five to seven years.

• Strategic focus on expanding OTC business, scaling manufacturing, and disciplined capital allocation.

• Marksans Employees Stock Option Scheme 2024 was approved, granting 400,000 equity stock options.