MARKSANS

Marksans Pharma share price & financials

Price
₹267.1
Market cap
₹14.5k Cr
Sector
Healthcare
Calls analysed
6
Latest concall · Q1 FY27 · call held 13 Aug 2026

Marksans Pharma Limited Q1 FY27

Revenue ₹841 cr +36%EBITDA ₹213 cr +113%EBITDA Margin 25.3% PAT ₹159 cr +174%

What went well

  • Revenue of ₹841 crores, up 35.6% YoY, exceeding expectations.
  • EBITDA of ₹213 crores, up 112.8% YoY, with margin expanding to 25.3% from 16.1%.
  • PAT of ₹159 crores, up 173.9% YoY, with margin at 18.4% from 9.3%.

What to watch

  • Softer demand observed in North America during the summer months.
  • Geopolitical scenarios, war, crude prices, and transportation costs are impacting gross margins and Rest of World markets.
Read the full call →

What Marksans Pharma Limited does

Marksans Pharma manufactures and sells over-the-counter (OTC) and prescription (Rx) generic pharmaceutical products, largely as private-label/store-brand manufacturing for retailers as well as its own-label products, across categories such as pain management, cough & cold, gastrointestinal, cardiovascular, CNS and vitamins/minerals & supplements. It operates four manufacturing units — Farmingdale (USA), Southport (UK) and two units in Goa (India) — backed by four R&D centres, supporting a portfolio of 350+ approved products and 2,000+ SKUs. Its largest market is the US & North America (via subsidiary Time Cap Laboratories), followed by UK & Europe (via Bell, Sons & Co. and Relonchem) and Australia & New Zealand (via Nova Pharmaceuticals, including its newly launched Rx brand division Nova Pharma), with a smaller Rest-of-World business across the CIS and MENA regions including the UAE (via Access Healthcare, Dubai).

Segments

  • OTC (Over-the-counter)
  • Rx (Prescription / branded generics)
Manufacturing facilities
4 units — Farmingdale (USA), Southport (UK), and 2 units in Goa (India) — plus 4 R&D centres
Installed manufacturing capacity
~26 billion units per annum across all facilities combined
Products and SKUs
350+ products and 2,000+ SKUs
ANDAs / Marketing Authorizations
350+ approved, 30+ filed and awaiting approval, 200+ additional products in pipeline
R&D scientists
50+ scientists across 4 R&D centres (Farmingdale US, Southport UK, Goa and Navi Mumbai, India)
Geographic footprint
Direct presence in the US, UK, Australia & New Zealand, Germany, Ireland, Canada and the UAE; RoW business spans 13 countries across CIS and MENA
Founded 2001Headquarters Mumbai, India Company website

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 4 delivered 1 missed 13 open
  • Operating Revenue delivered, diluted said Q4 FY25 Promised: Rs. 3,000 crores for FY26 Q1 FY27: Target period (FY26) has passed. Final verdict stands.
  • Teva Facility Revenue went quiet said Q4 FY25 Promised: Hit Rs. 1,000 crores eventually Q1 FY27: No specific update on the Teva facility revenue. A separate target for 'Goa Unit 2' was mentioned, but its relation to the larger Teva facility is unclear.
  • Operating Revenue diluted said Q4 FY26 Promised: Double revenue in the next 3 to 5 years (from ~INR 3,000 cr base). Q1 FY27: Management reiterated the goal but softened the timeline from '3 to 5 years' to 'within the next five years'.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 35.6%, net profit up 174.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue642 682 708 620 720 +12%754 +11%856 +21%841 +36%
EBITDA147 139 127 100 144 −2%161 +16%195 +54%213 +113%
Net profit98 105 91 58 99 +1%114 +9%149 +64%159 +174%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +86.2% 1Y

₹150₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 6 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 13 Aug 2026

1Y: ₹176.9 on 10 Sept 2025 → ₹329.4. High ₹335.9 (8 Sept 2026), low ₹156.89 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−2.9%
13 Aug
Q4 FY26
−2.2%
27 May
Q3 FY26
−1.2%
6 Feb
Q2 FY26
+2.2%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 16.8% a year over 3 years, FY23 to FY26. Operating margin widened to 20.3%.

Year endingFY23FY24FY25FY26
Revenue₹1.9k Cr₹2.2k Cr₹2.6k Cr₹3.0k Cr
Operating profit₹340 Cr₹459 Cr₹541 Cr₹600 Cr
Operating margin18.3%21.1%20.6%20.3%
Interest₹9 Cr₹12 Cr₹12 Cr₹24 Cr
Depreciation₹52 Cr₹75 Cr₹84 Cr₹98 Cr
Net profit₹265 Cr₹315 Cr₹383 Cr₹420 Cr
Net margin14.3%14.5%14.6%14.2%
Cash from operations₹237 Cr₹230 Cr₹207 Cr₹458 Cr
Free cash flow₹184 Cr₹22 Cr₹35 Cr₹329 Cr
ROCE22.0%21.0%20.0%19.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹41 Cr₹41 Cr₹45 Cr₹45 Cr₹45 Cr₹45 Cr
Reserves₹846 Cr₹1.2k Cr₹1.7k Cr₹2.0k Cr₹2.6k Cr₹3.0k Cr
Borrowings₹34 Cr₹111 Cr₹123 Cr₹244 Cr₹332 Cr₹343 Cr
Other liabilities₹307 Cr₹323 Cr₹322 Cr₹372 Cr₹422 Cr₹489 Cr
Total liabilities₹1.2k Cr₹1.6k Cr₹2.2k Cr₹2.7k Cr₹3.4k Cr₹3.9k Cr
Fixed assets₹309 Cr₹428 Cr₹486 Cr₹776 Cr₹1.1k Cr₹1.0k Cr
Capital work in progress₹12 Cr₹3 Cr₹10 Cr₹9 Cr₹7 Cr₹59 Cr
Investments₹0 Cr₹0 Cr₹1 Cr₹27 Cr₹1 Cr₹0 Cr
Other assets₹907 Cr₹1.2k Cr₹1.7k Cr₹1.9k Cr₹2.4k Cr₹2.8k Cr
Total assets₹1.2k Cr₹1.6k Cr₹2.2k Cr₹2.7k Cr₹3.4k Cr₹3.9k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −2.42 pp while the public added +1.72 pp. The shareholder count shrank 4% to 2,46,635.

Promoters
43.9%
FIIs
17.5%
DIIs
6.2%
Public
32.5%

Since Jun 2025

  • FIIs −2.42 pp
  • Public +1.72 pp
  • DIIs +0.69 pp

How it drifted, 12 quarters

Over this window the public fell from 37.1% to 32.5% — −4.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 43.9%, FIIs 15.1%, DIIs 4.0%, Public 37.1%.Dec '23: Promoters 43.9%, FIIs 15.6%, DIIs 4.8%, Public 35.8%.Mar '24: Promoters 43.9%, FIIs 15.6%, DIIs 5.2%, Public 35.4%.Jun '24: Promoters 43.9%, FIIs 18.6%, DIIs 3.8%, Public 33.8%.Sep '24: Promoters 43.9%, FIIs 21.3%, DIIs 4.1%, Public 30.7%.Dec '24: Promoters 43.9%, FIIs 21.9%, DIIs 4.3%, Public 29.9%.Mar '25: Promoters 43.9%, FIIs 22.2%, DIIs 4.5%, Public 29.4%.Jun '25: Promoters 43.9%, FIIs 19.9%, DIIs 5.5%, Public 30.7%.Sep '25: Promoters 43.9%, FIIs 16.9%, DIIs 5.3%, Public 33.9%.Dec '25: Promoters 43.9%, FIIs 8.1%, DIIs 5.9%, Public 42.1%.Mar '26: Promoters 43.9%, FIIs 16.8%, DIIs 6.6%, Public 32.8%.Jun '26: Promoters 43.9%, FIIs 17.5%, DIIs 6.2%, Public 32.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Marksans Pharma Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Mark Saldanha 43.80%unchanged
Orbimed Asia Iv Mauritius Fvci Limited FPI fund8.62%unchanged
UTI-Healthcare Fund Mutual fund2.11%−0.38 pp
Kotak Mahindra Trustee Co Ltd A/C Kotak Special Opportunities Fund Mutual fund1.14%unchanged
Sandra Saldanha 0.07%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Expensive

To justify its price of ₹329, this stock must grow earnings at 21% every year for 7 years. Our analysis caps realistic growth at ~13%. At that growth it is worth ₹224 — downside of 32%.

Growth the price implies
20.7% a year
for 7 years, fading to 4%
It has actually compounded at
16.6% a year
net profit, FY23–FY26 · EPS 13.3%
The gap
0.1 pp
-32% downside if it only repeats history
Price today ₹329.4 Value at the reference growth ₹223.52

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Marksans Pharma Limited

Guides on how to read this kind of business and the numbers that matter.