By: IPP Bureau
Last updated : August 14, 2024 10:07 am
Gross profit was Rs. 328.8 crore, up by 27.8% YoY with a gross margin expansion of 418 bps to 55.7%
Marksans Pharma Ltd. posted Q1 FY25 operating revenue at Rs. 590.6 crore, up by 18% YoY driven by new launches and increase in share with existing customers in the key markets.
Gross profit was Rs. 328.8 crore, up by 27.8% YoY with a gross margin expansion of 418 bps to 55.7%. Growth is attributed to softening of raw material prices and a better product mix. EBITDA was Rs. 128.4 crore grew by 25.9% with a margin of 21.7% and EPS grew by 29.3% YoY to Rs. 2.0.
Mark Saldanha, Managing Director, Marksans Pharma Ltd. said, "We are delighted to build on the growth momentum from the last year – the first quarter of FY25 has shown a strong start with 18% YoY increase in revenue and 26% YoY increase in EBITDA. The growth is supported by increase in share from existing customers and new launches. We experienced favorable raw material prices, however a surge in freight costs continued. The shipments from the new facility have commenced to our key markets, and with that we remain optimistic for a stronger performance in the coming quarters, and our journey towards achieving the next revenue goal of Rs. 3,000 crore over the next two years.”
US & North America Formulation business reported growth of 29.8% YoY to Rs. 250.9 crore in Q1 FY25, on account of incremental revenue from new product launches, and increase in the share of existing customers. Revenue of Rs. 251.5 crore from the UK and Europe Formulation business in Q1 FY25, registering a growth of 11.3%. Australia and New Zealand business reported revenues of Rs. 65.6 crore in Q1 FY25, which grew by 12.0% YoY, due to incremental market share.
In Q1 FY25, the capex incurred was Rs. 31 crore Capex investment is in line with our plan for scaling the acquired manufacturing unit from Teva Pharma in Goa which will drive our future growth. Research & Development (R&D) spent at Rs. 12 crore, 2.0% of consolidated revenue.
Marksans Pharma’s robust product portfolio spreads over major therapeutic segments of CVS, CNS, Antidiabetic, Pain Management, Gastroenterological and Anti-allergies. The company is marketing these products globally.