About Marksans Pharma Limited
Marksans Pharma Limited (NSE: MARKSANS) is an Indian pharmaceutical company headquartered in Mumbai, India, founded in 1992. It specializes in the research, development, manufacturing and marketing of pharmaceutical formulations, offering both over-the-counter (OTC) and prescription medicines across various therapeutic areas such as pain management, cardiovascular health, diabetes care, gastrointestinal treatments and more.
The company has a global footprint, with operations in over 50 countries and manufacturing facilities in India, the UK and the USA that are approved by major regulatory bodies like the US FDA, UK MHRA and Australian TGA. Its diverse product portfolio includes tablets, capsules, oral liquids, ointments and creams, supplied to supermarkets, pharmacy chains and wholesalers worldwide.
Marksans is listed on the Bombay Stock Exchange (BSE: 524404) and the National Stock Exchange of India (NSE: MARKSANS), and emphasizes quality, regulatory compliance and R&D to drive growth in domestic and international markets.
Q3 FY26 Financial Performance
Operating revenue rose to ₹754.4 crore, registering a 10.6% year-on-year increase, driven by strong traction in the US and UK markets supported by new product launches and market share gains. Gross profit increased 14.3% YoY to ₹438.2 crore, with gross margin improving to 58.1%. EBITDA stood at ₹160.7 crore, with the EBITDA margin expanding by 217 basis points YoY to 21.3%. Earnings per share (EPS) for the quarter were ₹2.5.
9M FY26 Financial Performance
For the nine-month period, operating revenue reached ₹2,094.8 crore, up 9.4% YoY. Gross profit grew 10.3% YoY to ₹1,208.2 crore, translating into a gross margin of 57.7%. EBITDA came in at ₹405.4 crore, with an EBITDA margin of 19.4%. EPS for 9M FY26 was ₹6.0.
US Market
The US and North America formulations business reported revenues of ₹412.4 crore in Q3 FY26, with performance in line with expectations and driven by volume growth supported by seasonal demand.
UK and Europe Market
Revenues from the UK and Europe formulations business stood at ₹258.2 crore in Q3 FY26, supported by new product launches and favorable currency movements.
Australia, New Zealand and Rest of the World (RoW)
The Australia and New Zealand businesses recorded revenues of ₹61.4 crore during Q3 FY26. The RoW business reported revenues of ₹22.4 crore in Q3 FY26.
Cash Flow, Capex and Other Highlights
Cash generated from operations amounted to ₹263.2 crore during 9M FY26, while capital expenditure of ₹97.0 crore was incurred over the same period. The working capital cycle stood at approximately 151 days in Q3 FY26, and the company reported a cash balance of ₹824.2 crore as of 31 December 2025. Research and development spending was ₹62.0 crore in 9M FY26, accounting for 3.0% of consolidated revenue.