Marksans Pharma
Marksans Pharma
HealthcareKey Fundamentals
SmallcapPharmaceuticalsHealthcareTapetide Score
Data-driven rating, 0–100. How it works →
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2h agoMarksans Pharma is a mid-cap OTC and generic pharmaceutical company trading at a market cap of ~₹14,789 crore with a P/E of 28.7x. The company delivered record FY25 revenue of ₹2,623 crore (up ~21% YoY) and net profit of ₹383 crore (up ~22% YoY), with a consistent 5-year compounded sales CAGR of 16% and profit CAGR of 12%. The stock has appreciated ~90% over the past year, significantly outpacing its long-term 10-year CAGR of 22%.
- Record FY25 revenue of ₹2,623 crore, up ~21% YoY, with management guiding for ₹3,000 crore revenue in FY26 — implying continued ~14% growth
- Consistent compounded sales growth of 16% over 5 years and 13% over 10 years, indicating a durable and scalable business model
- US market revenue grew 35% YoY in FY25, with OTC segment crossing ₹2,000 crore — demonstrating strong traction in the largest pharma market
- Net profit CAGR of 48% on a TTM basis shows accelerating profitability, with FY25 PAT of ₹383 crore up ~22% YoY
- US FDA cleared the Goa manufacturing plant with zero observations in November 2025, removing a key regulatory overhang from 5 observations in April 2024
- ROE has remained stable at 15-17% over the past 10 years, reflecting consistent capital efficiency for a mid-cap pharma company
- Low leverage with total debt-to-EBITDA at just 0.61x and total debt of ~₹322 crore against cash holdings of ~₹705 crore in FY25, making the company effectively net cash
- Promoter holding steady at 43.87% with no pledging, and FII holding at ~17.5% indicating institutional confidence
- P/E of 28.7x is elevated for a generic pharma company — the stock has rallied 90% in 1 year, pricing in significant future growth and leaving limited margin of safety
- Operating profit margin dipped to 19.6% in FY25 from 20.6% in FY24, a ~100 bps contraction driven by rising employee costs and R&D expenses
- Price-to-book of 4.95x is rich for a pharma company with 15% ROE, suggesting the market is paying a premium relative to book value returns
- Interest costs nearly doubled from ₹11.2 crore in FY24 to ₹11.7 crore in FY25, with further increase to ₹24.1 crore in FY26, signaling rising borrowing as capex ramps up
- Dividend yield of just 0.27% is minimal, meaning returns are entirely dependent on capital appreciation rather than income
- Heavy revenue concentration in the US and OTC segments exposes the company to USD/INR currency risk and potential regulatory or pricing pressure in a single market
- 5-year compounded profit CAGR of 12% lags the 5-year sales CAGR of 16%, suggesting operating leverage has not fully translated into bottom-line growth historically
- The Goa facility received 5 FDA observations as recently as April 2024 — while resolved, recurring inspectional issues at a key plant remain a latent risk for future approvals
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- Institutional dissent on director Aug 27
Institutional investors voted against the rotation of Dr. Sunny Sharma as director at the AGM, signaling governance concerns despite his reappointment by majority.
- ₹0.90 dividend approved Aug 27
Shareholders approved a ₹0.90 per share dividend at the AGM, reflecting continued commitment to returning capital to investors.
- Investor dialogue on Sep 2 Sep 1
Marksans Pharma to attend Elara India Dialogue 2026 on September 2 in Mumbai. No unpublished price sensitive information to be shared.
- AGM board reappointments cleared Aug 27
Sandra Saldanha was reappointed as Whole-Time Director and Dr. Sunny Sharma was reappointed despite institutional pushback.
TL;DR: Marksans Pharma is in a quiet phase with routine corporate actions dominating the news flow. The ₹0.90 dividend signals steady shareholder returns, but institutional dissent on a board reappointment is a minor governance flag worth monitoring. No major operational or earnings catalysts are visible in the near term. The upcoming investor dialogue on Sep 2 could provide forward guidance.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 500 | 531 | 586 | 560 | 591 | 642 | 682 | 708 | 620 | 720 | 754 | 856 | 841 |
| Expenses | 398 | 417 | 453 | 450 | 462 | 495 | 543 | 582 | 520 | 576 | 594 | 661 | 628 |
| Operating Profit | 102 | 114 | 133 | 110 | 128 | 147 | 139 | 127 | 100 | 144 | 161 | 195 | 213 |
| OPM % | 20% | 21% | 23% | 20% | 22% | 23% | 20% | 18% | 16% | 20% | 21% | 23% | 25% |
| Other Income | 10 | 19 | 5 | 17 | 15 | 0 | 28 | 15 | 6 | 22 | 20 | 35 | 25 |
| Interest | 2 | 2 | 3 | 5 | 3 | 3 | 3 | 3 | 6 | 6 | 6 | 6 | 7 |
| Depreciation | 14 | 18 | 22 | 21 | 20 | 20 | 21 | 23 | 23 | 27 | 24 | 24 | 25 |
| PBT | 97 | 114 | 113 | 100 | 120 | 125 | 143 | 116 | 77 | 133 | 151 | 200 | 207 |
| Tax % | 27% | 26% | 26% | 23% | 26% | 22% | 27% | 22% | 24% | 26% | 25% | 25% | 23% |
| Net Profit | 70 | 84 | 83 | 78 | 89 | 98 | 105 | 91 | 58 | 99 | 114 | 149 | 159 |
| EPS in Rs | 1.52 | 1.84 | 1.84 | 1.73 | 1.96 | 2.13 | 2.31 | 2 | 1.29 | 2.17 | 2.5 | 3.27 | 3.47 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 797 | 893 | 767 | 913 | 1,000 | 1,134 | 1,376 | 1,491 | 1,852 | 2,177 | 2,623 | 2,951 | 3,172 |
| Expenses | 612 | 757 | 722 | 834 | 868 | 942 | 1,037 | 1,232 | 1,513 | 1,719 | 2,090 | 2,350 | 2,458 |
| Operating Profit | 185 | 136 | 45 | 78 | 132 | 192 | 340 | 259 | 340 | 459 | 533 | 601 | 714 |
| OPM % | 23% | 15% | 6% | 9% | 13% | 17% | 25% | 17% | 18% | 21% | 20% | 20% | 22% |
| Other Income | 3 | 9 | 7 | 8 | 5 | 0 | 7 | 42 | 59 | 50 | 66 | 82 | 102 |
| Interest | 16 | 10 | 7 | 10 | 10 | 9 | 8 | 8 | 9 | 11 | 12 | 24 | 25 |
| Depreciation | 16 | 28 | 30 | 27 | 23 | 27 | 36 | 45 | 52 | 74 | 83 | 99 | 100 |
| PBT | 156 | 107 | 15 | 50 | 104 | 157 | 302 | 248 | 338 | 424 | 504 | 561 | 691 |
| Tax % | 28% | 23% | 24% | 28% | 23% | 23% | 21% | 25% | 21% | 26% | 24% | 25% | — |
| Net Profit | 112 | 83 | 11 | 36 | 80 | 121 | 239 | 187 | 265 | 315 | 383 | 420 | 521 |
| EPS in Rs | 2.67 | 1.92 | 0.22 | 0.8 | 1.87 | 2.95 | 5.76 | 4.51 | 5.88 | 6.92 | 8.4 | 9.22 | 11.41 |
| Div. Payout % | 4% | 21% | 23% | 6% | 3% | 3% | 4% | 6% | 9% | 9% | 10% | 10% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 45 | 45 | 45 | 45 |
| Reserves | 326 | 401 | 392 | 430 | 502 | 595 | 846 | 1,161 | 1,700 | 2,020 | 2,422 | 2,978 |
| Borrowings | 101 | 100 | 110 | 118 | 100 | 30 | 34 | 111 | 123 | 244 | 322 | 343 |
| Other Liabilities | 207 | 180 | 209 | 142 | 160 | 236 | 307 | 323 | 322 | 372 | 451 | 489 |
| Total Liabilities | 676 | 722 | 752 | 731 | 802 | 902 | 1,228 | 1,636 | 2,190 | 2,681 | 3,240 | 3,856 |
| Fixed Assets | 166 | 270 | 267 | 279 | 270 | 303 | 309 | 428 | 486 | 776 | 982 | 1,044 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 3 | 10 | 9 | 27 | 59 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 27 | 1 | 0 |
| Other Assets | 510 | 452 | 484 | 451 | 533 | 599 | 907 | 1,205 | 1,694 | 1,869 | 2,230 | 2,753 |
| Total Assets | 676 | 722 | 752 | 731 | 802 | 902 | 1,228 | 1,636 | 2,190 | 2,681 | 3,240 | 3,856 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 155 | 31 | 14 | 50 | 27 | 233 | 179 | 99 | 237 | 230 | 207 | 458 |
| Investing | -33 | -123 | -21 | -39 | -13 | -60 | -45 | -84 | -259 | -141 | -49 | -249 |
| Financing | 17 | -58 | -3 | 3 | -21 | -114 | -15 | 80 | 198 | -69 | -65 | -71 |
| Net Cash Flow | 138 | -150 | -10 | 15 | -7 | 60 | 118 | 94 | 176 | 21 | 93 | 138 |
| Free Cash Flow | 118 | -101 | -14 | 11 | 14 | 174 | 133 | 53 | 184 | 22 | 35 | 329 |
| CFO/OP | 108 | 43 | 31 | 73 | 41 | 134 | 67 | 66 | 88 | 77 | 62 | 99 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 84 | 89 | 118 | 71 | 64 | 78 | 72 | 97 | 82 | 76 | 75 | 80 |
| Inventory Days | 107 | 120 | 151 | 152 | 215 | 155 | 248 | 216 | 192 | 217 | 270 | 278 |
| Days Payable | 88 | 85 | 129 | 54 | 78 | 71 | 103 | 102 | 91 | 94 | 98 | 96 |
| Cash Conversion Cycle | 103 | 124 | 140 | 169 | 202 | 163 | 217 | 211 | 183 | 199 | 247 | 261 |
| Working Capital Days | 17 | 59 | 77 | 70 | 97 | 87 | 104 | 121 | 122 | 129 | 142 | 149 |
| ROCE % | 44% | 23% | 4% | 10% | 18% | 25% | 38% | 23% | 22% | 21% | 20% | 19% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Marksans Pharma insights
69 extracted metrics + investor summaries across FY10–FY26.
Documents
Frequently Asked Questions about Marksans Pharma
What does Marksans Pharma Ltd do?
Where is Marksans Pharma Ltd (MARKSANS) listed?
Which sector does Marksans Pharma Ltd belong to?
What is the market capitalisation of Marksans Pharma Ltd?
What is the PE ratio of Marksans Pharma Ltd?
What is the 52-week high and low of Marksans Pharma Ltd?
Does Marksans Pharma Ltd pay dividends?
What is the Return on Equity (ROE) of Marksans Pharma Ltd?
Company Information
Marksans Pharma is engaged in the Business of Formulation of pharmaceutical products [1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/MARKSANS.md for Marksans Pharma Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.