Investor presentation attached
Awaiting price reaction for this filing.
Marksans Pharma reported its highest-ever annual revenues and profits for FY25. Operating revenue grew 20.5% YoY to ₹2,623 cr, driven by a 35% YoY jump in the US market and OTC segment crossing ₹2,000 cr (78.8% of revenue). EBITDA rose 15.3% to ₹529 cr but margin slipped 91 bps to 20.2% due to higher employee costs at the acquired Goa facility, increased freight, and a 66% surge in R&D spending. PAT grew 21.5% to ₹383 cr. Q4 FY25 revenue was ₹708 cr (+26.5% YoY) with PAT of ₹91 cr. The company holds ₹704 cr in cash, is net cash positive for 5+ years, has IND AA-/Stable rating, and recommended a ₹0.8/share dividend.
Strong top-line growth and highest-ever profits are positives, but EBITDA margin contraction in both FY25 and Q4 FY25 signals cost pressure. Shareholders benefit from continued dividend hikes (₹0.5 → ₹0.6 → ₹0.8) and a ~217% share price gain over 2 years, though margin trajectory will be watched closely.