Slide 1: Cover letter to stock exchanges
Date: May 19, 2025 BSE Limited National Stock Exchange of India Limited Corporate Relation Department Listing Department Phiroze Jeejeebhoi Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Bandra-Kurla Complex, Mumbai - 400001. Bandra (East), Mumbai - 400051. Scrip Code: 524404 Symbol: MARKSANS S
Slide 2: Q4 & FY25 Earnings Presentation
Q4 & FY25 19th May 2025 Earnings Presentation BSE: 524404 | NSE: MARKSANS | ISIN: INE750C01026 ©2025 – Marksans Pharma Ltd., All Rights Reserved
Slide 3: Safe Harbor
Safe Harbor Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward- looking statements. The company's results may
Slide 4: Table of Contents
Table of Contents FY25 Financial and Business Highlights 4 Q4 FY25 Financial and Business Highlights 10 Marksans Pharma at a Glance 18 Marksan’s Journey 23 Strategic Initiatives 30 Sustainability at Marksans 38 Annexure 48 3
Slide 5: FY25 Financial and Business Highlights
FY25 Financial and Business Highlights
Slide 6: Management Commentary
Management Commentary “We are pleased to announce another year of robust performance; we have achieved highest ever annual revenues and profits. In FY25, we witnessed strong performance across all our markets, the US market has been a key growth driver with 35% YoY increase in revenue. Our OTC segme
Slide 7: Financial Highlights FY25 – YoY Performance
Financial Highlights FY25 – YoY Performance YoY FY25 FY24 YoY Performance Growth % Growth witnessed across all markets. The US market Revenue ₹ 2,622.8 cr ₹ 2,177.4 cr 20.5% has grown by 35% YoY Gross Profit ₹ 1,479.1 cr ₹ 1,139.3 cr 29.8% Softening of raw material prices and a better product Gross
Slide 8: Financial & Other Highlights – FY25
Financial & Other Highlights – FY25 Revenue Contribution for FY25: US - ₹ 1,236.6 cr | UK & Europe - ₹ 1,029.8 cr | Australia & New Zealand - ₹ 252.8 cr |RoW - ₹ 103.7 cr Research & Development (R&D) spends at ₹ 57.9 cr in FY25, 2.2% of consolidated revenue Cash generated from operations at ₹ 206.7
Slide 9: Segmental Revenue FY25
RX 21.2% 28% YoY Segmental Revenue FY25 Revenue by Segment OTC 78.8% FY25 OTC Revenue – ₹ 2,066.0 cr Pain Management 1,192.7 Cough & Cold(Upper respiratory) 352.5 Central Nervous System(CNS) 258.2 Gastrointestinal 216.4 Anti-Allergic 203.7 Cardiovascular System(CVS) 198.3 Vitamin & Minerals suppleme
Slide 10: Revenue by Geography – FY25
Revenue by Geography – FY25 US & North America - ₹ 1,237 cr UK & Europe - ₹ 1,030 cr 35% YoY 9% YoY 47.1% 39.3% 4.0% 9.6% RoW - ₹ 104 cr 6% YoY Australia & New Zealand - ₹ 253 cr 16% YoY 9
Slide 11: Q4 FY25 Financial and Business Highlights
Q4 FY25 Financial and Business Highlights
Slide 12: Financial Highlights Q4 FY25 – YoY Performance
Financial Highlights Q4 FY25 – YoY Performance YoY Q4 FY25 Q4 FY24 YoY Performance Growth % Growth witnessed across all markets driven by new Revenue ₹ 708.5 cr ₹ 560.0 cr 26.5% product launches and increasing wallet share with existing customers Gross Profit ₹ 383.2 cr ₹ 290.2 cr 32.1% Softening of
Slide 13: Financial Highlights Q4 FY25 – QoQ Performance
Financial Highlights Q4 FY25 – QoQ Performance QoQ Q4 FY25 Q3 FY25 QoQ Performance Growth % This quarter witnessed a softer cough and cold season Revenue ₹ 708.5 cr ₹ 681.7 cr 3.9% in the key markets Gross Profit ₹ 383.2 cr ₹ 383.5 cr 0.1% Margin declined primarily due to product mix changes Gross M
Slide 14: Quarterly Financial Trends
Quarterly Financial Trends Operating Revenue (₹ cr) Gross Profit (₹ cr) & Gross Margin (%) 708 384 384 383 682 329 642 290 591 59.7% 55.7% 56.2% 560 54.1% 51.8% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 EBITDA (₹ cr) & EBITDA Margin (%) PAT (₹ cr) & Net Margin (%) 160 139
Slide 15: US & North America Q4 FY25 Performance
US & North America Q4 FY25 Performance Quarterly Performance (₹ cr) 46.4% 353 329 304 245 251 Revenues ₹ 328.6 cr 34% YoY 7% QoQ Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 US Overview Highlights • Demand was low due to a soft • US & North America is a key growth market cough and cold season • The Company se
Slide 16: UK & Europe Q4 FY25 Performance
UK & Europe Q4 FY25 Performance Quarterly Performance (₹ cr) 38.7% 274 258 252 Revenues 247 ₹ 274.1 cr 233 18% YoY 6% QoQ Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 UK Overview Highlights • Top 5 Indian pharmaceutical firms in the UK in terms of revenue • Witnessed highest quarterly • The Company services t
Slide 17: Australia & New Zealand Q4 FY25 Performance
Australia & New Zealand Q4 FY25 Performance Quarterly Performance (₹ cr) 10.8% 77 63 66 64 Revenues 47 ₹ 76.5 cr 21% YoY 62% QoQ Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Australia & New Zealand Overview Highlights • Demand was favorable during • In 2005, Marksans acquired 60% stake in Nova to have an esta
Slide 18: RoW Business Q4 FY25 Performance
RoW Business Q4 FY25 Performance Quarterly Performance (₹ cr) 4.1% 28 29 23 24 Revenues 19 ₹ 29.3 cr 55% YoY 21% QoQ Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 RoW Overview Highlights • Witnessed favorable market • RoW segment encompasses 10 countries, spanning across CIS and MENA regions conditions during
Slide 19: Marksans Pharma at a Glance
Marksans Pharma at a Glance
Slide 20: Company Overview
Company Overview ₹ 2,623 cr 20.2% CFO of ₹ 207 cr in FY25 FY25 Revenue FY25 EBITDA Margin Cash balance : ₹ 704 cr (OTC: 78.8%, Rx: 21.2%) (as of Mar 2025) 4 300+ Products 2,000+ 4 Manufacturing Units & and 1,500+ SKUs Total Employees 4 R&D Centers $100+mn in US Amongst Top 5 Accreditations Amongst t
Slide 21: OTC Business
OTC Business Industry Marksans Large growing OTC Market OTC Business • According to IQVIA, Global OTC Market size is projected to • The OTC business includes store brands, private label be $204 bn in 2025 manufacturing for retailers and customers • Prescription (Rx) to over-the-counter (OTC) switche
Slide 22: Manufacturing Capabilities
Manufacturing Capabilities Manufacturing Facility in Southport, UK • Manufactures non-sterile liquids, ointments and powder sachets • Supplies to UK, West Africa & Middle East UK • Spread across 7,300 sq. mt. C A PAC I T Y AC C R E D I TAT I O N S 2 bn bottles p.a. Total Capacity : 1 bn tubes p.a. 2
Slide 23: R&D Capabilities
R&D Capabilities R&D Centers R&D (₹ cr) and R&D % to sales 1.5% 2.0% 1.6% 1.6% 2.2% 1.4% 0.6% 0.6% 0.7% 58 Southport, United Kingdom Farmingdale, United States Navi Mumbai, India 35 Goa, India 30 29 19 15 5 5 8 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Continued focus on R&D investments Plans to
Slide 24: Marksan’s Journey
Marksan’s Journey
Slide 25: Our Key Events
Our Key Events 2015 2024 Acquired Time Cap Marksans crossed Laboratories Inc. USA ₹ 2,000 cr revenue 2023 2001 1. Raised ₹ 372.40 cr in Marksans was incorporated as a equity via conversion wholly owned subsidiary of of warrants issued to Glenmark Pharmaceuticals Ltd. 2017 OrbiMed and Increased focus
Slide 26: Growth and Achievements Since 2017
Growth and Achievements Since 2017 Revenue growth of ~3.4 to SKUs growth of ₹ 2,623 cr ~75% to 1500+ Consistent Manufacturing OTC Revenue Consistent and capacity increased meaningfully high growth in cash growth of ~4.6x EBITDA margin from 6 bn units p.a. from operations in 2017 to 26 bn* to ₹ 2,066
Slide 27: Financial Trends – High Growth Trajectory
Financial Trends – High Growth Trajectory Operating Revenue (₹ cr) EBITDA (₹ cr) & EBITDA Margin (%) 3,000.0 2,623 24.7% 20.2% 2,500.0 21.1% 2,177 17.4% 2,000.0 1,852 17.0% 18.3% 1,376 1,491 13.2% 1,500.0 1,134 5.8% 8.6% 529 912 1,005 459 1,000.0 767 340 339 259 500.0 192 78 132 0.0 45 FY17 FY18 FY1
Slide 28: Financial Trends – High Growth Trajectory
Financial Trends – High Growth Trajectory Total Assets (₹ cr) Net Debt to EBITDA 3,500.0 3,240 Cash positive balance sheet for over 5 years 2.0x 1.6x 3,000.0 2,681 1.5x 1.0x 2,500.0 2,190 1.0x 0.5x 0.5x 2,000.0 1,640 0.0x 1,500.0 1,228 -0.5x 752 732 804 897 -0.4x 1,000.0 -1.0x -0.6x -1.5x 500.0 -1.2
Slide 29: Proven Success in Acquisitions
Proven Success in Acquisitions Acquisitions Acquired manufacturing unit in Goa from Teva Pharma Target Country Australia United Kingdom United Kingdom United States UAE India December 31, Transaction Date March 24, 2006 August 27, 2008 June 30, 2015 April 25, 2022 April 19, 2023 2007 Sales growth ~7
Slide 30: 2 Year Shareholder Return
2 Year Shareholder Return Indexed Share Price Movement (₹) Marksans Nifty Pharma 317 100 176 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 Annual Dividends FY23: Dividend of ₹ 0.5 per equity share ~217% share price increase in last 2 years FY24: Dividend
Slide 31: Strategic Initiatives
Strategic Initiatives
Slide 32: Core Strategies for Future Growth
Core Strategies for Future Growth Expanding the OTC business • Aim to capture a significant part of the multi-billion-dollar OTC opportunity. According to IQVIA, Global OTC Size in 2025 is expected to be ~$ 204bn. • Our OTC segment grew at CAGR of 21% (from FY17-FY25). Majority of revenue in OTC com
Slide 33: Capturing OTC Opportunity
Capturing OTC Opportunity Global Category Value Share ($ bn) Expanding OTC Business Capture multi- • Marksans competes in large and billion-dollar OTC growing categories Cough and Cold 43 opportunity • Increasing store brand penetration in Vitamins and Tonics 34 Strengthening North America Business
Slide 34: FY25 Product Pipeline
FY25 Product Pipeline Continued focus on R&D leading to strong product pipeline and successful launches • 12 products approved • 3 products approved • 18 products filed during the year • 3 products filed during the and awaiting approval year and awaiting approval UK Australia & New Zealand USA Rest
Slide 35: Key Product Launches in Last 2 Years
Key Product Launches in Last 2 Years Brand Composition Therapy Segment Market SENNOSIDE TABLETS SENNA TABLETS 7.5 MG Gastrointestinal UK GABAPENTIN ORAL SOLUTION GABAPENTIN 50 MG/ML Central Nervous System (CNS) UK LORATADINE TABLETS LORATADINE TABLETS USP 10 MG Cough and Cold US LEVONORGESTREL TABLE
Slide 36: Strong Balance Sheet to Drive Inorganic Growth
Strong Balance Sheet to Drive Inorganic Growth Cash balance of ₹ 704 cr as of 31st March 2025. Cash positive for over 5 years. Low financial risk Consistent annual cash generation. ₹ 207 cr in FY25 Driving inorganic growth. Evaluating acquisitions in Europe Disciplined capital allocation region for
Slide 37: We’ve Delivered What We Promised
We’ve Delivered What We Promised Marksans Guidance How have we performed? Revenue guidance of ₹ 2,000 cr Achieved EBITDA margin guidance of 20% Achieved Focus on expanding OTC business – ~4.6x revenue growth since 2017 Achieved Disciplined capital allocation approach - Effectively utilizing the cash
Slide 38: Growth: FY25 and Beyond
Growth: FY25 and Beyond Disciplined efforts to become future ready Growth FY25 and Beyond • Doubling low-cost manufacturing capacity in India from 8bn ❖ High growth in revenues and margin. Aim to reach revenue of ₹ 3,000 cr in next 2 years to 16bn units. Total manufacturing capacity of Marksans is 2
Slide 39: Sustainability at Marksans
Sustainability at Marksans
Slide 40: Driving Sustainable Progress
Driving Sustainable Progress Our commitment to Environmental, Social, and Governance (ESG) Environment Social Governance Ensure sustainability in our Positively impact our people and Bring about an industry principles is central to our operations and projects by positively impacting the natural comm
Slide 41: Empowering Communities
Empowering Communities 01 02 03 04 05 Health Care Education Farming and Plantation Food Distribution Overall wellbeing of women and • Organized free health • Donations towards • Tree plantation in Verna • Distribution of free food children check-up camps and construction of new school Industrial Est
Slide 42: Sustainability Goals and Progress
Sustainability Goals and Progress Sustainability Pillars Goal Initial Milestone Status • Reduction of annual virgin • Use of 100% recyclable HDPE/ • In Progress plastic usage in packaging in PET bottles/ LDPE Shrink collaboration with suppliers wrapping and customers • Use of 70-80% recyclable label
Slide 43: Sustainability Goals and Progress
Sustainability Goals and Progress Sustainability Pillars Goal Initial Milestone Status • Focus on areas of preventive • Mobile health care units to • 2% of the net profit is spent healthcare, education, support the grievances of for overall development of eradicating malnutrition, communities in aro
Slide 44: Sustainability Goals and Progress
Sustainability Goals and Progress Sustainability Pillars Goal Initial Milestone Status • By 2028, we plan to achieve • Waste disposal with co- • In Progress sustainable waste disposal processing – Recycled and • Use of renewable/ recyclable methods Reused sources of energy • 100% Waste water utiliza
Slide 45: Corporate Governance Principles
Corporate Governance Principles Conducting Business in Ethical, Transparent Business continues to create value for and Accountable manner customers and consumers responsibly Producing goods which have a Application of Best management sustainable life cycle practices We at Marksans Pharma Ltd adhere
Slide 46: Board of Directors - Guided By Visionary Minds
Board of Directors - Guided By Visionary Minds Mark Saldanha Sandra Saldanha Varddhman Jain Dr. Sunny Sharma Founder, Chairman & Promoter, Whole-Time Director Non-Executive Director Managing Director Whole-Time Director • Science Graduate • MA in Arts (Sociology) • M. Pharm (Pharmaceuticals) • MBA,
Slide 47: Board of Directors - Guided By Visionary Minds
Board of Directors - Guided By Visionary Minds Abhinna Sundar Mohanty Digant Mahesh Parikh Shailaja Vardhan Independent Director Independent Director Independent Director • M.Sc., Mathematics • MBA, Finance • Seasoned professional in • 39+ years of experience in • 26+ years of experience in Communic
Slide 48: Experienced Leadership Team
Experienced Leadership Team Mark Saldanha Varddhman Jain Sathish Kumar Anjani Kumar David Mohammed Jitendra M Sharma Founder, Chairman & Whole-Time Director MD – Marksans Pharma COO – Global Operations MD – Pharmaceuticals Chief Financial Officer Managing Director and USA Australasia Pty Ltd UK Ltd.
Slide 49: Annexure
Annexure
Slide 50: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (₹ cr) Q4 FY25 Q4 FY24 Q3 FY25 YoY QoQ FY25 FY24 YoY Operating Revenue 708.5 560.0 681.8 26.5% 3.9% 2,622.8 2,177.4 20.5% Gross Profit 383.2 290.2 383.5 32.1% -0.1% 1,479.1 1,139.3 29.8% Gross Margin % 54.1% 51.8% 56.2% 228 bps -215 bps 56.4% 52.3% 40
Slide 51: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ cr) FY25 FY24 Particulars (₹ cr) FY25 FY24 EQUITY AND LIABILITIES ASSETS EQUITY NON-CURRENT ASSETS Share capital 45.3 45.3 Property, plant & equipment 886.4 675.7 Reserves and surplus 2,421.6 2,019.7 Capital work-in-progress 9.0 5.4 Non-Controlling interest
Slide 52: For more information please contact
For more information please contact: Jitendra Sharma Corporate Office (CFO) 11th Floor Grandeur, Off Veera Desai Road, Opp Gundecha Symphony, Andheri (W), Marksans Pharma Ltd. Mumbai – 400 053, Maharashtra - India Tel: +91 22 4001-2000 jitendra@marksanspharma.com © 2025 Marksans Pharma Ltd., All Rig