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Marksans Pharma spurts after Q4 PAT leaps 191% YoY to Rs 82 cr
30-May-23 15:39Hrs IST

Revenue from operations rose 16.25% year on year to Rs 485.98 crore in the quarter ended 31 March 2023.

Profit before tax for the quarter as at Rs 104.17 crore, up 66.41% from Rs 62.60 crore posted in Q4 FY22.

EBITDA surged 72.1% to Rs 109.5 crore in the fourth quarter of FY23 as against Rs 63.6 crore reported in Q4 FY22. EBITDA margin improved to Rs 22.5% in Q4 FY23 as compared to 15.2% recorded in the same period last year.

During the quarter, US & North America were at Rs 193.5 crore (up 12.8% YoY) while UK and Europe stood at Rs 206.3 crore (up 33.1% YoY).

However, Australia and New Zealand business came in at Rs 63.4 c (down 10.9% YoY) in Q4 FY23.

Rest of world (ROW) business grew by 11.8% YoY to Rs 22.8 crore during the period under review.

On full year basis, the company's consolidated net profit jumped 44.29% to Rs 266.31 crore on 24.23% rise in revenue to Rs 1,852.14 crore in FY23 over FY22.

Revenue growth was mainly driven by market share gains in the existing store brands & markets and the launch of new products.

As on 31 March 2023, Cash balance stood at Rs 715 crore.

Mark Saldanha, managing director, said Our consistent growth trend continues in the quarter, driven by gains in existing store brands, products, and markets, as well as normalization of freight expenses. We have completed the acquisition of Teva Pharma manufacturing unit in Goa which will enable us to accelerate the growth of our business and strengthen our position as a leading low-cost manufacturer.

We have exceeded our FY23 guidance of Rs 1,800 crore. This milestone is our testament to our commitment to delivering value creation for our stakeholders. We aim to continue our success in the coming year, with a focus on extending our footprint in the multi-billion-dollar OTC opportunities, focusing on margin improvement, and strengthening our balance sheet.?

Meanwhile, the company's board has declared a dividend of Re 0.50 per equity share for FY23. The record date for the same is fixed on 7 June 2023 and the dividend will be paid on or after 12 June 2023 to all the members.

Marksans Pharma is primarily engaged in the business of research, manufacture, marketing and sale of pharmaceutical formulations.

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