The shares of the pharmaceutical company specialzing in the Business of Formulation of pharmaceutical products, jumped upto 6 percent following the approval by the Australian TGA for producing pharmaceutical formulations.
Price action
With a market capitalization of Rs. 9,849.51 crores on Thursday, the shares of Marksans Pharma Limited jumped upto 5.9 percent making a high of Rs. 219.35 per share compared to its previous closing price of Rs. 207.00 per share.
What Happened
Marksans Pharma Limited is engaged in the Business of Formulation of pharmaceutical products has announced that its manufacturing facility in Plot A-1, Phase 1-A, Verna Industrial Estate, Verna, Goa, has been approved by the Australian TGA to produce pharmaceutical formulations, including tablets and hard capsules, for the Australian market.
The products will be manufactured at the above facility in Goa India and marketed & distributed in Australian markets through the Company’s subsidiary Nova Pharmaceuticals Australasia Pty Ltd.
About the Company
Marksans Pharma Limited is a global pharmaceutical company based in India, specializing in the development, manufacturing, and distribution of generic pharmaceutical formulations. The company produces a wide range of products, including tablets, capsules, and oral liquids, catering to markets across the world.
Growth FY25 and Beyond
Marksans Pharma aims for high growth in revenues and margins, targeting Rs. 3,000 crore in revenue over the next two years. Key goals include doubling revenue in the US and North America, becoming a top 5 private label OTC company there, reaching the top 3 Indian pharmaceutical firms in the UK, and pursuing M&A to support growth in Europe, and the company is also focused on consistently enhancing shareholder value.
Financials
The company’s revenue rose by 20 percent from Rs. 590.93 crore to Rs. 709.7 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 83.24 crore to Rs.104.56 crore during the same period.
Financial Highlights
For Q3, Marksans Pharma reported revenue contributions as follows: Rs. 352.9 crores from the US, Rs. 257.6 crores from the UK & Europe, Rs. 47.2 crores from Australia & NZ, and Rs. 24.1 crore from RoW. The company incurred Rs. 129.4 crores in capex and spent Rs. 11.8 crores on R&D in Q3. The cash balance as of December 31, 2024, stood at Rs. 669 crores.
Written by Sridhar J
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