Marksans Pharma Ltd., a global pharmaceutical company, has reported a strong performance in both the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24), achieving significant growth in revenue and profitability.
Q4FY24 Financial Highlights:
Operating Revenue: ₹560.0 crore, up by 15.2% YoY
Gross Profit: ₹290.2 crore, up by 19.8% YoY
Gross Margin: 51.8%
EBITDA: ₹109.6 crore, grew by 0.1% YoY
EBITDA Margin: 19.6%
EPS: ₹1.73
FY24 Financial Highlights:
Operating Revenue: ₹2,177.4 crore, up by 17.6% YoY
Gross Profit: ₹1,139.3 crore, up by 22.4% YoY
Gross Margin: 52.3%
EBITDA: ₹458.6 crore, grew by 35.1% YoY
EBITDA Margin: 21.1%
EPS: ₹6.92, an 8.0% YoY growth
Key Growth Drivers:
Volume Gains: Increased sales volumes in key markets.
New Launches: Introduction of new products in various therapeutic areas.
Customer Expansion: Addition of new customers and increased market share with existing customers.
Favorable Raw Material Prices: Reduction in raw material costs contributed to improved profitability.
Operating Leverage: Efficient utilization of resources and economies of scale led to higher margins.
Management Commentary:
Mark Saldanha, Managing Director of Marksans Pharma, expressed satisfaction with the company's strong performance in FY24, emphasizing the contributions of new product launches, increased market share, favorable raw material prices, and operating leverage. He highlighted the company's commitment to delivering sustained long-term value for shareholders and its strong positioning in infrastructure, product mix, and customer relationships.
Additional Information:
The company has exceeded its revenue target of ₹2,000 crore for FY24.
Marksans Pharma's US and North America business grew by 18.5% YoY, while the UK and Europe business grew by 22.9% YoY.
For more detailed analysis and insights on Marksans Pharma's Q4FY24 and FY24 results, you can refer to the following resources:
Marksans Pharma Official Website: https://www.marksanspharma.com/pdf/q4fy24-and-fy24-financial-results.pdf
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/marksans-pharma-ltd
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