NSE: MARKSANS · BSE: 524404 · ISIN INE750C01026
Marksans Pharma Limited stock analysis
Marksans Pharma Limited ranks #242 in the TickerSutra evidence-ranked universe with a score of 68/100 and 95% data confidence. The latest captured fundamentals show ROCE of 18.8%, quarterly sales growth of 35.6% and quarterly profit growth of 169.5%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.11×
- 16.8% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- No calculated threshold risk in the current snapshot.
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,491cr | ₹259cr | ₹187cr | 17.0% |
| 2023 | ₹1,852cr | ₹340cr | ₹265cr | 18.0% |
| 2024 | ₹2,177cr | ₹459cr | ₹315cr | 21.0% |
| 2025 | ₹2,623cr | ₹533cr | ₹383cr | 20.0% |
| 2026 | ₹2,951cr | ₹601cr | ₹420cr | 20.0% |
| TTM | ₹3,172cr | ₹714cr | ₹521cr | 22.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
Sequentially, EBITDA increased from INR195.4 crores, while EBITDA margin expanded by 251 basis points. The improvement reflects the benefit of higher gross margin together with operating leverage. Profit after -tax stood at INR159.4 crores compared with INR58.2 crores in Q1 FY26, representing a 173.9% year -on-year increase.
Overall, EMDEs recorded growth of 4.4% in CY 202519. Among developing economies, China continued to lead export growth, supported by strong shipments of manufactured and industrial goods. India continued to demonstrate strong economic momentum driven by robust domestic demand.
FY 2025-26 marked a significant year for Marksans Pharma, with the total revenue crossing the ₹3,000 crore mark for the first time at ₹3,033 crores, along with its highest-ever profitability. The year was defined by improved business quality, supported by margin expansion, disciplined execution and robust cash generation. Our operating revenue stood at ₹2,951 crores, representing a growth of 12.5% year-on-year.
At the same time, we remained focused on enhancing efficiency across our operations, which contributed to better cost absorption and overall earnings quality. Raw material costs also moderated during the second half of the year, providing an additional tailwind. This financial strength provides considerable flexibility in how we deploy capital.
Its experienced marketing and business development teams closely monitor market trends and provide strategic insights to support informed decision-making. Outlook Marksans Pharma remains focused on strengthening its growth trajectory through capacity expansion, enhancement of its product portfolio and deeper penetration across key therapeutic segments. The Company’s growth roadmap for FY 2026-27 and beyond rests upon
And we do expect better revenue to be generated from Germany. And Ireland may take some time because product registrations. We need a whole sale license, we need a distribution license, and we need product licenses.
Regards, Mark Saldanha Chairman and Managing Director Dear Shareholders, across regulated markets, including our entry into Germany, Canada and Ireland, while continuing to strengthen our presence across existing markets. North America remained our largest and fastest-growing market, supported by new product launches, market share gains and strong customer relationships. In the United Kingdom, business performance im
44 Annual Report 2025-26 Further strengthening healthcare delivery, the Union Budget 2026– 27 allocated ₹39,390 crore to the National Health Mission (NHM) to enhance primary healthcare services, maternal and child health programs, and disease control initiatives across the country38. Looking ahead, India’s pharmaceutical industry is expected to grow at a rate of 7–9%, supported by robust domestic demand, stable expor
We remain disciplined in how we allocate capital and selective about our inorganic opportunities. We remain confident about creating a business that is scalable, resilient, and positioned to deliver sustainable long-term value for all our stakeholders. With this, I hand it over to Jitendra, who will take you through the financial performance in detail.
This quarter saw a softer demand through the summer months, in Marksans Pharma Limited August 13, 2026 Page 3 of 15 line with the normal seasonal pattern. Price erosion in our Rx portfolio remained in single digits, and in the coming quarters, we expect momentum to strengthen. We have also established our presence in Canada with product filings underway.
39India Pharma's 2026 Reset: Reforms, Innovation and the Road to the Future | IPA India Statutory Reports Marksans Pharma Limited 45 Corporate Overview Financial Statements Key Strengths Marksans maintains a strong focus on the OTC segment by strengthening its presence in the large, rapidly growing global store-brand market. The Company aims to increase market share with leading retailers and expand its footprint acr
Product Development and Pipeline Our Company has established a strong R&D infrastructure with dedicated centres in Goa and Navi Mumbai, supporting a broad portfolio across key therapeutic areas, including pain management, upper respiratory conditions, cardiovascular and central nervous system disorders, anti-diabetic medications and gastrointestinal drugs. As of March 31, 2026, our R&D capabilities have enabled us to
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Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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