Marksans Pharma Ltd
Marksans Pharma is engaged in the Business of Formulation of pharmaceutical products [1]
- Market Cap ₹ 8,337 Cr.
- Current Price ₹ 184
- High / Low ₹ 347 / 162
- Stock P/E 34.6
- Book Value ₹ 33.0
- Dividend Yield 0.43 %
- ROCE 18.6 %
- ROE 14.4 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 37.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 20.5%
Cons
- Company has a low return on equity of 12.4% over last 3 years.
- Earnings include an other income of Rs.89.4 Cr.
- Company has high debtors of 171 days.
- Promoter holding has decreased over last 3 years: -4.73%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 315 | 406 | 358 | 216 | 295 | 424 | 433 | 600 | 658 | 655 | 853 | 1,174 | 1,251 | |
| 231 | 290 | 254 | 191 | 266 | 361 | 362 | 486 | 545 | 563 | 713 | 970 | 998 | |
| Operating Profit | 84 | 116 | 104 | 24 | 29 | 63 | 71 | 114 | 114 | 92 | 140 | 204 | 254 |
| OPM % | 27% | 29% | 29% | 11% | 10% | 15% | 16% | 19% | 17% | 14% | 16% | 17% | 20% |
| 3 | 3 | 9 | 7 | 7 | 8 | 0 | 31 | 42 | 60 | 62 | 70 | 89 | |
| Interest | 15 | 13 | 6 | 4 | 8 | 7 | 7 | 5 | 4 | 4 | 1 | 1 | 1 |
| Depreciation | 9 | 9 | 15 | 15 | 12 | 9 | 12 | 15 | 18 | 17 | 29 | 29 | 32 |
| Profit before tax | 63 | 97 | 92 | 12 | 17 | 56 | 53 | 124 | 135 | 132 | 172 | 243 | 310 |
| Tax % | 12% | 31% | 22% | 3% | 25% | 22% | 28% | 21% | 23% | 22% | 22% | 23% | |
| 56 | 67 | 71 | 12 | 12 | 44 | 38 | 98 | 104 | 103 | 134 | 188 | 241 | |
| EPS in Rs | 1.44 | 1.64 | 1.75 | 0.28 | 0.30 | 1.07 | 0.93 | 2.40 | 2.54 | 2.27 | 2.95 | 4.15 | 5.31 |
| Dividend Payout % | 7% | 7% | 7% | 18% | 16% | 5% | 11% | 10% | 10% | 22% | 20% | 19% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 22% |
| 3 Years: | 21% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 38% |
| 3 Years: | 22% |
| TTM: | 57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 25% |
| 3 Years: | 44% |
| 1 Year: | -46% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 13% |
| 3 Years: | 12% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 45 | 45 | 45 | 45 |
| Reserves | 108 | 305 | 369 | 378 | 388 | 430 | 465 | 559 | 744 | 1,066 | 1,177 | 1,338 | 1,450 |
| 103 | 62 | 53 | 73 | 67 | 78 | 11 | 14 | 14 | 8 | 8 | 11 | 11 | |
| 127 | 119 | 71 | 54 | 61 | 64 | 83 | 127 | 167 | 226 | 285 | 361 | 310 | |
| Total Liabilities | 376 | 527 | 534 | 546 | 557 | 612 | 600 | 741 | 966 | 1,345 | 1,516 | 1,755 | 1,817 |
| 67 | 90 | 97 | 94 | 88 | 103 | 115 | 129 | 136 | 144 | 272 | 383 | 398 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | 0 |
| Investments | 68 | 68 | 231 | 234 | 236 | 236 | 236 | 236 | 237 | 266 | 293 | 266 | 267 |
| 242 | 369 | 205 | 217 | 233 | 273 | 249 | 375 | 594 | 931 | 952 | 1,105 | 1,153 | |
| Total Assets | 376 | 527 | 534 | 546 | 557 | 612 | 600 | 741 | 966 | 1,345 | 1,516 | 1,755 | 1,817 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 54 | 112 | 65 | -14 | 16 | 20 | 108 | 107 | 56 | 52 | 34 | 31 | |
| -2 | -29 | -177 | -8 | -8 | -20 | -24 | 9 | -128 | -195 | -114 | 17 | |
| -19 | 51 | -52 | 21 | -10 | 1 | -82 | -14 | 71 | 210 | -26 | -30 | |
| Net Cash Flow | 33 | 134 | -164 | -1 | -2 | 1 | 2 | 102 | -1 | 67 | -106 | 18 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 130 | 112 | 136 | 262 | 209 | 153 | 136 | 103 | 137 | 170 | 158 | 171 |
| Inventory Days | 120 | 85 | 90 | 95 | 91 | 109 | 111 | 101 | 100 | 121 | 145 | 117 |
| Days Payable | 87 | 75 | 64 | 67 | 73 | 58 | 84 | 69 | 72 | 103 | 122 | 116 |
| Cash Conversion Cycle | 163 | 123 | 161 | 290 | 228 | 204 | 163 | 135 | 165 | 188 | 182 | 172 |
| Working Capital Days | 14 | 29 | 91 | 177 | 149 | 127 | 144 | 90 | 110 | 143 | 144 | 145 |
| ROCE % | 35% | 33% | 22% | 3% | 5% | 12% | 11% | 23% | 20% | 14% | 15% | 19% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
21 Nov - Q2 FY26 revenue Rs720.4 crore; EBITDA Rs144.5 crore; PAT Rs99.1 crore; US orderbook $225-230m; FDA inspection cleared.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
20 Nov - Relonchem (Marksans subsidiary) received UK MHRA marketing authorization for Cetirizine Dihydrochloride 1 mg/ml oral solution on Nov 20, 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
19 Nov - Marksans subsidiary receives USFDA approval for Loperamide Hydrochloride Tablets USP 2 mg (generic Imodium), Nov 19, 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
17 Nov - Relonchem received UK MHRA marketing authorizations for Mefenamic Acid 250mg and 500mg tablets on Nov 17, 2025.
- Newspaper Publication Of Financial Results For The Quarter And Half Year Ended September 30, 2025 17 Nov
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Nov 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Feb 2021Transcript PPT
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Nov 2020TranscriptAI SummaryPPT
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Aug 2020TranscriptAI SummaryPPT
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Jun 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
Product Portfolio
OTC Products: (74% of FY24 revenue)
Include Pain Management, Cough and Cold, Digestive Remedies, Vitamins and Tonics, Skin Treatments, and Allergies.[1]
Prescription (Rx) Products: (26%)[2]
Includes cardiovascular, central nervous system (CNS), anti-allergic, anticancer, and anti-diabetic drugs.