Marksans Pharma Released Q4 FY2024 Earnings: Sales Rose 15.2% YoY

On May 30, 2024, Marksans Pharma Ltd, one of the leading pharmaceutical companies in India, released its results for the quarter and year ended March 31, 2024.

Quarterly Performance

Operating revenue was ₹560.0 crore, up 15.2% YoY due to new product launches, increased share with current customers, volume gains, and client additions. With a 51.8% gross margin, the gross profit of ₹290.2 crore increased by 19.8% yearly. With an EBITDA margin of 19.6% and EBITDA of ₹109.6 Cr., it increased by 0.1%.

Yearly Performance

Operating revenue increased by 17.6% YoY to ₹2,177.4 crore. Business in the US and North America increased by 18.5% YoY. The EU and the UK saw YoY growth of 22.9%. With a 52.3% gross margin, the gross profit of ₹1,139.3 crore increased by 22.4% year over year.

Business Highlights

Revenue from the UK and Europe Formulation business in the US and European markets increased by 22.9% to ₹943.0 crore in FY24 from ₹767.6 crore the previous year.

“We are delighted to report a strong performance in FY24 in terms of both revenue and profitability. Our operating revenue for the year grew year-on-year by 18% and EBITDA increased by 35%, supported by new product launches, an increase in market share, a reduction in raw material prices and operating leverage. This year, we have met and exceeded our revenue target of Rs.2,000 Crore. We remain confident in delivering sustained long-term value for our shareholders as we position ourselves strongly in terms of infrastructure, product mix and long-term customer relationships,” said Mark Saldanha, Managing Director of Marksans Pharma Ltd.

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