Revenue from operations jumped 18.12% YoY to Rs 590.62 crore in first quarter of FY25, driven by new launches and increase in our share with existing customers in the key markets.
Research & Development (R&D) spend stood at Rs 12 crore during the quarter, 2% of consolidated revenue.
Profit before tax rose 23.95% to Rs 120.02 crore in June 2024 quarter as compared with Rs 96.83 crore posted in corresponding quarter previous fiscal.
EBITDA climbed 26% to Rs 128.4 crore in Q1 FY25 as compared to Rs 102 crore in same period last year. EBITDA margin improved to 21.7% in Q1 of FY25 as compared to 20.4% in the corresponding period last year.
During the quarter, revenue from US & North America stood at Rs 250.9 crore (up 29.8% YoY) and UK and Europe stood at Rs 251.5 crore (up 11.3% YoY).
Revenue from Australia and New Zealand business stood at Rs 65.6 crore (down 12% YoY) in Q1 FY24. Rest of World (ROW) business grew by 2.1% YoY to Rs 22.7 crore during the period under review.
In Q1 FY25, the capex incurred was Rs 31 crore, which is in line with the firm’s plan for scaling the acquired manufacturing unit from Teva Pharma in Goa.
The cash balance at the end of 30 June 2024 is at Rs 691 crore. In Q1 FY25, cash from operations was at Rs 45.3 crore and free cash flow was at 14.3 crore.
The pharmaco received market authorization from UKMHRA for products Levonorgestrel 1.5mg tablets, Rasagiline 1mg tablets and Olmesartan 10, 20, 40mg tablets during the period under review.
Mark Saldanha, managing director, Marksans Pharma, said, "We are delighted to build on the growth momentum from the last year – the first quarter of FY25 has shown strong start with 18% YoY increase in revenue and 26% YoY increase in EBITDA. The growth is supported by increase in share from existing customers and new launches.
We experienced favorable raw material prices, however surge in freight costs continue. The shipments from the new facility have commenced to our key markets, and with that we remain optimistic for a stronger performance in the coming quarters, and our journey towards achieving the next revenue goal of Rs. 3,000 crores over the next two years.”
Marksans Pharma is primarily engaged in the business of research, manufacture, marketing and sale of pharmaceutical formulations.