Marksans Pharma Limited — Investor Meet, 26-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Marksans Pharma reported FY ’25 revenue of Rs. 2,623 Cr, up 20.5% YoY, and PAT of Rs. 383 Cr, rising 21.5%. The U.S. market led growth with a 34.7% increase to Rs. 1,237 Cr. Q4 revenue surged 26.5% YoY to Rs. 708.5 Cr, driven by new launches and market share gains. EBITDA margin dipped to 20.2% due to higher expenses but should improve with operating leverage from the Teva facility, which generated Rs. 325 Cr in FY ’25 and is targeting Rs. 400-500 Cr this year. Inventory increased with new products; working capital days stabilized near 125. Management expects ~17% revenue growth next year, backing pipeline expansion (58 SKUs commercialized; 79 in pipeline) and new markets like the U.K. and Europe. Cash on hand is Rs. 704 Cr, with $8-10 million CAPEX planned and acquisition pursuits in Europe. The tone is confident yet cautious on tariffs and external risks. Dividend proposed at Rs. 0.8 per share.