{"id":130765,"date":"2022-06-23T10:46:48","date_gmt":"2022-06-23T14:46:48","guid":{"rendered":"https:\/\/44.250.171.167\/?p=130765"},"modified":"2022-10-06T04:22:06","modified_gmt":"2022-10-06T08:22:06","slug":"marksans-pharma-limited-q4-fy22-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/marksans-pharma-limited-q4-fy22-earnings-conference-call-insights\/","title":{"rendered":"Marksans Pharma Limited Q4 FY22 Earnings Conference Call Insights"},"content":{"rendered":"

Key highlights from Marksans Pharma Limited (MARKSANS<\/a>) Q4 FY22 Earnings Concall<\/strong><\/h2>\n

\u00a0<\/strong><\/p>\n

Q&A Highlights:<\/strong><\/h3>\n

Vijay Nahar – Individual Investor – Analyst<\/strong><\/p>\n

    \n
  • Challenges affecting cost and what costs were passed on to the consumers?<\/li>\n<\/ul>\n

    Mark Saldanha – Managing Director<\/strong><\/p>\n

      \n
    • The challenge was China lockdown.\n
        \n
      • Had cascading impact on all input cost of RM.<\/li>\n<\/ul>\n<\/li>\n
      • Oil prices getting impacted by war.\n
          \n
        • Freight cost got impacted tremendously.<\/li>\n<\/ul>\n<\/li>\n
        • MARKSANS working on passing whatever cost it can with the price increase to the customers.<\/li>\n<\/ul>\n

          \u00a0<\/strong><\/p>\n

          Rajiv Rupani – Individual Investor – Analyst<\/strong><\/p>\n

            \n
          • When does MARKSANS propose to pay the full amount and convert the warrants, issued to OrbiMed and the company, to shares?<\/li>\n<\/ul>\n

            Mark Saldanha – Managing Director<\/strong><\/p>\n

              \n
            • At the time of warrant issuance, 25% money was received upfront.<\/li>\n
            • Warrant is convertible any time in next 18 month time.<\/li>\n
            • In terms of timelines, expects the conversion to happen in FY23 and the balance money will come in.<\/li>\n
            • Even if the share price is below the conversion rate, the warrants will be converted.<\/li>\n<\/ul>\n

              \u00a0<\/strong><\/p>\n

              Rajiv Rupani – Individual Investor – Analyst<\/strong><\/p>\n

                \n
              • The INR2,000 crore revenue target will be achieved in what timeframe?<\/li>\n<\/ul>\n

                Mark Saldanha – Managing Director<\/strong><\/p>\n

                  \n
                • Within the next 3 years.\n
                    \n
                  • The company is pretty much on target.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

                    \u00a0<\/strong><\/p>\n

                    Rajiv Rupani – Individual Investor – Analyst<\/strong><\/p>\n

                      \n
                    • EBITDA margin for FY23?<\/li>\n<\/ul>\n

                      Jitendra Sharma – Chief Financial Officer<\/strong><\/p>\n

                        \n
                      • Expects EBITDA margin pressure to continue.\n
                          \n
                        • Margins are under pressure.<\/li>\n
                        • Not seeing any immediate reduction in freight cost.<\/li>\n<\/ul>\n<\/li>\n
                        • Expects EBITDA in the range of 17-20% for FY23.<\/li>\n<\/ul>\n

                          \u00a0<\/strong><\/p>\n

                          Rajiv Rupani – Individual Investor – Analyst<\/strong><\/p>\n

                            \n
                          • Will the company be debt free for the next 3-4 years?<\/li>\n<\/ul>\n

                            Jitendra Sharma – Chief Financial Officer<\/strong><\/p>\n

                              \n
                            • Don\u2019t plan to raise debt in the short term.<\/li>\n
                            • Longer term, may have some debt in the book.<\/li>\n<\/ul>\n

                              \u00a0<\/strong><\/p>\n

                              Piyush Oswal – Piyush Oswal and Associates – Analyst<\/strong><\/p>\n

                                \n
                              • Reason for trade receivables constantly increasing?<\/li>\n<\/ul>\n

                                Jitendra Sharma – Chief Financial Officer<\/strong><\/p>\n

                                  \n
                                • Receivable increase during the year is in line with increase in sales.<\/li>\n
                                • Overall avg. receivable levels are around 90 days.<\/li>\n
                                • MARKSANS doesn\u2019t expect trade receivables to increase further.<\/li>\n<\/ul>\n

                                  \u00a0<\/strong><\/p>\n

                                  Shakir Rao – Individual Investor – Analyst<\/strong><\/p>\n

                                    \n
                                  • Plans with Access Healthcare acquisition?<\/li>\n<\/ul>\n

                                    Mark Saldanha – Managing Director <\/strong><\/p>\n

                                      \n
                                    • A virtual company marketing formulation in UAE.<\/li>\n
                                    • Looking at Dubai as port of entry into Middle East.\n
                                        \n
                                      • Plans to expand to few geographies from this base.<\/li>\n<\/ul>\n<\/li>\n
                                      • Dubai is a platform for distribution in the Middle East for MARKSANS.<\/li>\n<\/ul>\n

                                        \u00a0<\/strong><\/p>\n

                                        Yogesh – Arihant Capital Markets – Analyst<\/strong><\/p>\n

                                          \n
                                        • D&A increase of more than 100% at INR21 crore would be run rate going forward quarterly?<\/li>\n<\/ul>\n

                                          Jitendra Sharma – Chief Financial Officer<\/strong><\/p>\n

                                            \n
                                          • Company has adopted Ind AS 116 while consolidating the US and UK balance sheet into the Indian parent company balance sheet.\n
                                              \n
                                            • Has taken warehouses in these geographies, providing for lease liability and corresponding write-of-use assets.<\/li>\n<\/ul>\n<\/li>\n
                                            • In 4Q, provided the depreciation for the whole year on these assets, which had an increase of INR12 crore in depreciation.<\/li>\n
                                            • In the current year, it will come as a quarterly charge of INR3 crore every year.<\/li>\n<\/ul>\n

                                              \u00a0<\/strong><\/p>\n

                                              Yogesh – Arihant Capital Markets – Analyst<\/strong><\/p>\n

                                                \n
                                              • Reason for inventory debtor days jumping in FY22?<\/li>\n<\/ul>\n

                                                Jitendra Sharma – Chief Financial Officer<\/strong><\/p>\n

                                                  \n
                                                • It\u2019s on account of increase in sales and increase in credit period to few customers in US and UK.<\/li>\n
                                                • Don\u2019t expect it to go up further.\n
                                                    \n
                                                  • Will remain at around 90 days in coming quarters.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

                                                    \u00a0<\/strong><\/p>\n

                                                    Yogesh – Arihant Capital Markets – Analyst<\/strong><\/p>\n

                                                      \n
                                                    • Gross margin for FY23?<\/li>\n<\/ul>\n

                                                      Jitendra Sharma – Chief Financial Officer<\/strong><\/p>\n

                                                        \n
                                                      • Expecting in the range of 50-52%.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

                                                        Key highlights from Marksans Pharma Limited (MARKSANS) Q4 FY22 Earnings Concall \u00a0 Q&A Highlights: Vijay Nahar – Individual Investor – Analyst Challenges affecting cost and what costs were passed on to the consumers? Mark Saldanha – Managing Director The challenge was China lockdown. Had cascading impact on all input cost of RM. Oil prices getting […]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Marksans Pharma Limited Q4 FY22 Earnings Conference Call Insights #MARKSANS #Q4","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5747],"tags":[1115],"class_list":["post-130765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-healthcare-stocks","tag-pharmaceuticals"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":138022,"url":"https:\/\/alphastreet.com\/india\/marksans-pharma-limited-q2-fy23-earnings-conference-call-insights\/","url_meta":{"origin":130765,"position":0},"title":"Marksans Pharma Limited Q2 FY23 Earnings Conference Call Insights","author":"Praveen","date":"November 25, 2022","format":false,"excerpt":"Key highlights from Marksans Pharma Limited (MARKSANS) Q2 FY23 Earnings Concall Q&A Highlights: [00:12:45] Madhav Shastri asked about the new acquisition made of Teva Pharma, and the expected capex on the facility. 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