Marksans Pharma recorded its fiscal fourth quarter earnings with profit at Rs 78.29 crore, down 4.4 per cent in comparison to Rs 81.93 crore reported during the fourth quarter of FY23. It posted revenue from operations at Rs 560.01 crore, up 15.2 per cent as against Rs 485.98 crore during the same period of previous financial year. The company EBITDA stood at Rs 109.6 crore. While the total income reported by Marksans Pharma stood at Rs 576.54 crore, total expenses incurred by the company during the quarter in review was at Rs 476.27 crore.
The company recommended a final dividend of Rs 0.60 per equity share (face value Re 1 per share) for the financial year 2023-24. “The dividend, if approved by the Members at the forthcoming Annual General Meeting will be credited/ dispatched within 30 days from the date of AGM,” it said.
Mark Saldanha, Managing Director of the Company, said, “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 per cent and EBITDA increased by 35 per cent, supported by new product launches, increase in market share, reduction in raw material prices and operating leverage. This year we have not only met but exceeded our revenue target of Rs 2000 crore. We remain confident on delivering sustained long-term value for our shareholders, as we position ourselves strongly in terms of infrastructure, product mix and long-term customer relationships.”
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The Research & Development (R&D) spend by the company stood at Rs 34.6 crore, which is 1.6 per cent of consolidated revenue. The capex incurred was at Rs 208.8 crore in Teva acquired facility, approximately Rs 30 crore in existing Goa facility, around Rs 31 crore in the US facility, and Rs 22 crore in the UK manufacturing facility.
Marksans Pharma’s performance across key markets
US & North America formulation business reported growth of 18.5 per cent YoY to Rs 918.1 crore in FY24.
The UK and Europe formulation business recorded a revenue of Rs 943 crore in FY24 as compared to Rs 767.6 crore during last year, registering a growth of 22.9 per cent.
The company’s Australia and New Zealand business reported a revenue of Rs 218.8 crore in FY24, which grew by 4.4 per cent YoY.
RoW business reported Rs 97.4 crore in revenue in FY24.
From: financialexpress
Financial News
