Marksans Pharma Limited · NSE:MARKSANS
Marksans Pharma — Q2 FY27 Earnings Presentation
54 slides from Marksans Pharma's earnings presentation, Nov 4, 2026
Slide 1: Exchange cover letter: Investor Presentation
November 04, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relation Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block - G Dalal Street Bandra-Kurla Complex Mumbai – 400001 Bandra (East), Mumbai - 400051 Scrip Code: 524404 Symbol: MARKSANS Sub: I
Slide 2: Earnings Presentation Q2 & H1 FY27
Earnings Presentation Q2 & H1 FY27 4th November 2026 BSE: 524404 | NSE: MARKSANS | ISIN: INE750C01026 ©2026 – Marksans Pharma Ltd., All Rights Reserved www.marksanspharma.com
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by Marksans Pharma Limited (the “Company”) solely for informational purposes. The information contained herein is not intended to be comprehensive and should not be relied upon as the sole basis for any investment or business decision. This presentatio
Slide 4: Table of Contents
Q2 H1FY27 Financial Business Highlights Q2 & H1FY27 Financial & Business 01 Highlights 04 02 Q2FY27 Geographical Highlights 11 Marksans Pharma at a Glance 03 Marksans Pharma at a Glance 18 Table of 04 Marksans’ Journey Marksans’ Journey 25 Contents 05 Strategic Initiatives Strategic Initiatives 31 S
Slide 5: Q2 & H1FY27 Financial & Business Highlights
Q2 & H1FY27 Financial & Business Highlights www.marksanspharma.com Page 4
Slide 6: Management Commentary
Management Commentary “Q2FY27 marks a landmark quarter for Marksans Pharma, with the Company delivering its strongest-ever performance. Revenue reached ₹940 crore, up 30.5% YoY. Adjusted for acquisition (QliniQ) impact, revenue growth remained healthy Mark Saldanha at 25%. EBITDA grew 48.3% to a rec
Slide 7: Financial Highlights H1FY27 – YoY Performance
Financial Highlights H1FY27 – YoY Performance H1FY27 H1FY26 YoY Growth H1 YoY Performance Revenue grew 32.9% YoY, led by our core markets. UK & Europe contributed ₹312 cr, or 71% of the ₹441 cr Revenue ₹ 1,781.0 ₹ 1,340.4 32.9% increase, driven by new launches in the UK and ~₹84 cr cr cr from QliniQ
Slide 8: Financial & Other Highlights – H1FY27
Financial & Other Highlights – H1FY27 US & North America UK & Europe Australia & New Zealand Rest of World Revenue by geography ₹798 cr ₹761 cr ₹188 cr ₹34 cr +11.7% YoY +69.4% YoY +59.0% YoY -41.4% YoY Operating cash flow (H1FY27) EBITDA-to-cash conversion Free cash flow (H1FY27) Strong cash genera
Slide 9: Financial Highlights Q2FY27 – YoY Performance
Financial Highlights Q2FY27 – YoY Performance Q2FY27 Q2FY26 YoY Growth YoY Performance Revenue grew 30.5% YoY, with UK & Europe contributing Revenue ₹ 940.2 cr ₹ 720.4 cr 30.5% ₹159 cr, or 72% of the ₹220 cr increase, including ~₹40 cr from QliniQ. ANZ and the US contributed ₹39 cr and ₹34 cr respec
Slide 10: Financial Highlights Q2FY27 – QoQ Performance
Financial Highlights Q2FY27 – QoQ Performance Q2FY27 Q1FY27 QoQ Growth QoQ Performance Revenue grew 11.8% QoQ to a record ₹940 cr, with Revenue ₹ 940.2 cr ₹ 840.8 cr 11.8% sequential growth in UK & Europe (+₹49 cr), the US (+₹44 cr) and ANZ (+₹13 cr) Gross Profit ₹ 550.1 cr ₹ 497.3 cr Gross profit r
Slide 11: Quarterly Financial Trends
Quarterly Financial Trends Operating Revenue (₹ cr) Gross Profit (₹ cr) & Gross Margin (%) 940 59.1% 58.5% 856 841 57.2% 58.1% 720 754 54.4% 550 497 53.0% 438 466 412 33.0% Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 EBITDA (₹ cr) & EBITDA Margin (%) Net Income (₹ cr) & Net
Slide 12: Q2FY27 Geographical Highlights
Q2FY27 Geographical Highlights www.marksanspharma.com Page 11
Slide 13: Q2FY27 Revenue by Geography
Q2FY27 Revenue by Geography US & North America - ₹ 421 cr UK & Europe - ₹ 405 cr 9% YoY 65% YoY 44.8% 43.0% 1.5% 10.7% RoW - ₹ 14 cr 47% YoY Australia & New Zealand - ₹ 101 cr 64% YoY www.marksanspharma.com Page 12
Slide 14: US & North America Q2FY27 Performance
US & North America Q2FY27 Performance Quarterly Performance (₹ cr) 44.8% 421 412 406 387 377 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Revenue US Overview 8.7% YoY 11.6% QoQ ₹ 420.9 cr • The Company services this region through Time-Cap Laboratories Inc., its wholly owned subsidiary acquired in June 2015 •
Slide 15: UK & Europe Q2FY27 Performance
UK & Europe Q2FY27 Performance UK 43.0% • Highest-ever quarterly revenue for UK & Europe at ₹405 cr, up 64.9% YoY and 13.7% QoQ (H1FY27: +69.4%). • Excluding QliniQ, UK & Europe grew 48.6% YoY to ₹365 cr (H1FY27: +50.7% to ₹677 Ireland cr). Netherlands UK • After a flat FY26, the UK market has stabi
Slide 16: Australia & New Zealand Q2FY27 Performance
Australia & New Zealand Q2FY27 Performance Quarterly Performance (₹ cr) 10.7% 123 101 88 61 61 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Revenue Australia & New Zealand Overview 64.0% YoY 14.8% QoQ ₹ 100.6 cr • In 2005, Marksans acquired 60% stake in Nova to establish a base in the region • Australia & NZ
Slide 17: Nova Pharmaceuticals — Recent Prescription Launches
Nova Pharmaceuticals — Recent Prescription Launches Nova Pharmaceuticals Australasia Pty Ltd (60% subsidiary) — branded prescription portfolio, Australia Vymaze Prescription Only Medicine Rinidate Controlled Drug · Listed on the PBS Molecule Fluticasone furoate 27.5 mcg per spray Molecule Methylphen
Slide 18: RoW Business Q2FY27 Performance
RoW Business Q2FY27 Performance Quarterly Performance (₹ cr) 27 22 19 20 1.5% 14 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Revenue RoW Overview 47.0% YoY 29.6% QoQ ₹ 14.1 cr • RoW segment encompasses 10 countries, spanning across CIS and MENA regions • Marksans acquired 100% stake in Access Healthcare in D
Slide 19: Marksans Pharma at a Glance
Marksans Pharma at a Glance www.marksanspharma.com Page 18
Slide 20: Corporate Organogram
Corporate Organogram MARKSANS PHARMA LIMITED India · BSE: 524404 | NSE: MARKSANS | Listed parent US UK EUROPE AUSTRALIA & NZ UAE CANADA NEW NEW Marksans Pharma Inc. Marksans Pharma UK Ltd Marksans Pharma (Europe) Ltd Nova Pharmaceuticals Australasia Access Healthcare for Medical Marksans (Canada) In
Slide 21: Company Overview
Company Overview ₹ 3,033 cr 20.4% ₹ 1,124 cr 4 350+ Total Income FY26 Cash balance 4 Manufacturing Products for FY26 EBITDA Margin (as of 30th Sep 2026) Units & and 2,000+ SKUs 4 R&D Centers ~$175mn Amongst Accreditations 2,000+ in US Top 5 USFDA, UK MHRA, Total Employees Amongst the top Indian Aust
Slide 22: Segmental Revenue
Segmental Revenue Revenue by Segment – FY26 Revenue by Therapeutic Segment – FY26 1,310.8 Rx, 20.0% 460.9 384.0 183.4 171.5 171.5 161.2 54.8 38.4 9.4 5.0 OTC, 80.0% Anti-Allergic Anti-Diabetic Anti -Infectives Gastrointestinal Cardiovascular System(CVS) Anti-cancer supplements (VMS) Anti-hair fall P
Slide 23: Marksans’ OTC Focus
Marksans’ OTC Focus Marksans’ OTC Portfolio Industry Opportunity ❖ According to IQVIA, Global OTC Market size is ❖ The OTC business includes store brands, private projected to be $215 bn in 2026 label manufacturing for retailers and customers ❖ Prescription (Rx) to over-the-counter (OTC) ❖ It also m
Slide 24: Manufacturing Capabilities
Manufacturing Capabilities Manufacturing Facility in Farmingdale, USA Total Capacity : 26 bn units p.a.* • Manufactures hard gels, tablets and capsules • Spread over an area of 7,000 sq. mt. USA • "Made in the USA” product offering • Added incremental packaging lines Manufacturing Facility in Southp
Slide 25: R&D Capabilities
R&D Capabilities R&D (₹ cr) and R&D % to sales 3.0% 89 2.6% 2.2% R&D Southport, 2.0% Farmingdale, United Kingdom 1.5% 1.6% 1.6% United States Navi Mumbai, 1.4% 58 India 47 Goa, India Centers 0.6% 0.6% 0.7% 35 30 29 19 15 8 5 5 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1FY27 Continued focus
Slide 26: Marksans’ Journey
Marksans’ Journey www.marksanspharma.com Page 25
Slide 27: Our Key Events
Our Key Events • Raised ₹ 372.40 cr in Increased focus on OTC equity via conversion segment in US market OTC Segment’s Spun off into a separate of warrants issued to entity - Glenmark OrbiMed and Revenue crossed ₹ • Acquired Bell, Sons & Promoters 2,000 cr Laboratories Ltd. Co. (Druggists) Ltd. in C
Slide 28: Growth and Achievements Since 2017
Growth and Achievements Since 2017 Operating OTC Revenue Consistent and Consistent Manufacturing Revenue growth of meaningfully growth in cash capacity SKUs growth ~5.3x to high EBITDA from increased from growth to 2,000+ ~3.8x to ₹ 2,361 cr margin operations over 6 bn units p.a. in expansion the ye
Slide 29: Financial Trends – High Growth Trajectory
Financial Trends – High Growth Trajectory Operating Revenue (₹ cr) EBITDA (₹ cr) & EBITDA Margin (%) 3,500.0 CAGR (FY17–26) – 33.5% 2,951 700.0 30.0% 24.7% 20.2% 20.4% 3,000.0 2,623 600.0 21.1% 24.0% 25.0% 17.4% 2,177 2,500.0 500.0 18.3% 18.2% 1,852 17.0% 20.0% 2,000.0 1,781 1,491 13.2% 400.0 1,376
Slide 30: Financial Trends – High Growth Trajectory
Financial Trends – High Growth Trajectory Total Assets (₹ cr) Net Debt to EBITDA 5,000.0 4,500.0 4,360 2.0x 1.6x 3,861 1.5x 1.0x 3,442 4,000.0 3,500.0 3,240 1.0x 0.5x 3,000.0 2,681 0.5x 2,500.0 2,190 0.0x 1,640 -0.5x -0.4x 2,000.0 1,228 -1.0x -0.6x 897 1,500.0 752 732 804 -1.2x 1,000.0 -1.3x -1.3x -
Slide 31: Proven Success in Acquisitions
Proven Success in Acquisitions www.marksanspharma.com Page 30
Slide 32: Strategic Initiatives
Strategic Initiatives www.marksanspharma.com Page 31
Slide 33: Core Strategies for Future Growth
Core Strategies for Future Growth To become the most reliable partner in the consumer healthcare space Focus on store brand OTC Segment • Expanding within proven OTC demand areas, expanding market share with customers and key regions. Aim to capture a significant part of the multi-billion-dollar OTC
Slide 34: Capturing OTC Opportunity
Capturing OTC Opportunity Global Category Value Share ($ bn) Expanding OTC Business Value Share Capture multi- • Marksans competes in large and billion-dollar OTC growing categories Others 37 opportunity • Increasing store brand penetration in Skin Treatment 15 Strengthening North America. Business
Slide 35: Product Pipeline
Product Pipeline Continued focus on R&D leading to strong product pipeline and successful launches UK US Australia & New Zealand Rest of the World Canada • 18 products approved • 112 new SKUs • 23 SKUs launched in • Built a strong regulatory • 14 products filed in and 30 filings done in launched in
Slide 36: Key Product Launches in Last 2 Years
Key Product Launches in Last 2 Years Brand COMPOSITION Therapy Segment Market BENZONATATE CAPSULES BENZONATATE CAPSULES USP, 100 mg & 200 mg Cough and Cold US CETIRIZINE DIHYDROCHLORIDE CETIRIZINE DIHYDROCHLORIDE 1 MG/ML ORAL SOLUTION Anti Allergy UK LOPERAMIDE HYDROCHLORIDE LOPERAMIDE HYDROCHLORIDE
Slide 37: Strong Balance Sheet to Drive Inorganic Growth
Strong Balance Sheet to Drive Inorganic Growth Cash balance of ₹ 1,124 cr as of 30th Strong credit rating September 2026; net cash of ₹ 1,095 cr. Long term: CARE AA-; Stable | IND AA-; Positive Cash positive for over 5 years. Short term: CARE A1+ | IND A1+ India Ratings revised the outlook to Positi
Slide 38: We’ve Delivered What We Promised
We’ve Delivered What We Promised 1 Total Income guidance of ₹ 3,000 cr Achieved 2 Focus on expanding OTC business – ~5.3x revenue growth since 2017 Achieved 3 EBITDA margins in the 19-20% range Achieved 4 Maintain net cash balance sheet Achieved 5 Disciplined capex allocation Achieved www.marksansph
Slide 39: The Marksans Investment Thesis
The Marksans Investment Thesis Scalable Operating Consistent Execution & 01 Structural Shift to OTC 02 Growth Visibility 03 Leverage 04 Financial Strength • Global OTC market reaching $215 bn — • Multiple drivers: launches, categories, • 26 bn unit capacity; Goa Unit 2 doubling • OTC revenue CAGR 20
Slide 40: Growth Roadmap — FY27 and Beyond
Growth Roadmap — FY27 and Beyond Marksans Growth Algorithm FY27–28 Milestones Strategic Vision FY30 ● India capacity: 16 bn units ● Top global consumer p.a. healthcare company DEEPEN • Increase SKUs per existing retailer ● Expand US and North ● Multi-continent front-end • Expand share in core OTC ca
Slide 41: Sustainability at Marksans
Sustainability at Marksans www.marksanspharma.com Page 40
Slide 42: Driving Sustainable Progress
Driving Sustainable Progress Environment Social Governance Ensure sustainability in our Positively impact our people Bring about an industry operations and projects by and community through utmost transformation by leading ethically positively impacting the natural respect for human rights, and bols
Slide 43: Empowering Communities
Empowering Communities 01 02 03 04 05 Health Care Education Environment Food Distribution Overall wellbeing of women • Organized free health • Contribution towards • Building and upkeep of • Distribution of free and children check-up camps and education of public gardens/parks food items to daily •
Slide 44: Environmental Sustainability Initiatives
Environmental Sustainability Initiatives Improving operational and manufacturing efficiency and attract environmentally conscious value chain partners and focusing on optimum use of natural resources and raw materials Increased use of recycled packaging materials by over 400%. Plan underway for usin
Slide 45: Corporate Governance Standards
Corporate Governance Standards A strong ethical organization with a focus on Has stringent codes of conduct and transparency, accountability, adequate policies in place for observance by disclosure and compliance directors, employees, and workers Robust risk management framework for proactive Has in
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 Srinivas Mishra Independent Director Independent Director Independent Director Independent Director • M.Sc., Mathematics • MBA, Finance • Seasoned professional in • B. Sc Hons (Mathematics) •
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 – Nova Pharmaceuticals Chief Financial Officer Managing Director UK Ltd. and USA Australasia Pt
Slide 49: Annexure
Annexure www.marksanspharma.com Page 48
Slide 50: Consolidated Profit & Loss Statement – H1FY27
Consolidated Profit & Loss Statement – H1FY27 Particulars (₹ cr.) H1FY27 H1FY26 YoY Total Income 1,824.5 1,367.6 33.4% Operating Revenue 1,781.0 1,340.4 32.9% Gross Profit 1,047.4 770.0 36.0% Gross Margin % 58.8% 57.4% 137 bps EBITDA 427.3 244.6 74.7% EBITDA Margin % 24.0% 18.2% 574 bps Finance Cost
Slide 51: Consolidated Profit & Loss Statement – Q2FY27
Consolidated Profit & Loss Statement – Q2FY27 Particulars (₹ cr.) Q2FY27 Q2FY26 Q1FY27 YoY QoQ Total Income 958.3 742.0 866.2 29.2% 10.6% Operating Revenue 940.2 720.4 840.8 30.5% 11.8% Gross Profit 550.1 411.8 497.3 33.6% 10.6% Gross Margin % 58.5% 57.2% 59.1% 135 bps -64 bps EBITDA 214.3 144.5 213
Slide 52: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (₹ cr.) 30-Sep-26 31-Mar-26 Equity & Liabilities (₹ cr.) 30-Sep-26 31-Mar-26 Property, plant & equipment 642.9 625.0 Equity share capital 45.3 45.3 Right-of-use assets 411.3 300.9 Other equity 3,287.0 2,977.8 Capital work-in-progress 5.1 14.8 Non-controlling interes
Slide 53: Shareholding Pattern — As of September 2026
Shareholding Pattern — As of September 2026 Shareholding — Q2FY27 (Sep 2026) Shareholding Trend – Q2FY27 Category Q2FY27 Promoters (%) 43.9 31.5% 43.9% FII / FPI (%) 19.1 of which OrbiMed (%) 8.6 5.5% 10.4% 8.6% DII (%) 5.5 Public & Others (%) 31.5 Promoters OrbiMed (foreign) Other FII/FPI Source: B
Slide 54: Thank You
Thank You For more information please contact: Jitendra Sharma (CFO) Corporate Office Marksans Pharma Ltd. 11th Floor Grandeur, Off Veera Desai Road, Tel: +91 22 4001-2000 jitendra@marksanspharma.com Opp Gundecha Symphony, Andheri (W), Mumbai – 400 053, Maharashtra - India © 2026 Marksans Pharma Ltd