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) in FY25, with US market revenue up 35% and OTC segment revenue surpassing ₹2,000 crore.

• Strong performance across all markets, driven by new product launches, expanded OTC pipeline, and capacity expansion.

• 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

• FY25 consolidated operating revenue: ₹26,228.45 million (₹2,623 crore), up 20.5% year-on-year; Q4 FY25 revenue: ₹708.5 crore, up 26.5%.

• FY25 EBITDA: ₹528.6 crore, up 15.3%; EBITDA margin at 20.2%, down due to higher employee and R&D expenses.

• FY25 net profit: ₹3,805.75 million (₹382.6 crore), up 21.5%; EPS: ₹8.40.

• Cash generated from operations: ₹206.7 crore in FY25; cash balance at ₹704 crore as of March 31, 2025.

• Standalone and consolidated financials received unmodified audit opinions.

Outlook and guidance

• Targeting revenue of ₹3,000 crore in FY26, implying ~17% growth; confident in sustaining this rate for three years.

• Plans to double US revenue, become a top 5 private label OTC company in North America, and expand in the UK and Europe through M&A.

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

• EBITDA margin expected to improve to 21%-22% as new facility utilization increases.