Marksans Pharma Skyrockets by 16% to Hit Record Highs on Stunning Q1 Results | Market News
Marksans Pharma Shares Surge to Record High on Strong Q1FY25 Earnings
Published: Aug 14, 2024 | 2:13 PM IST | Last Updated: Aug 14, 2024 | 2:13 PM IST
Shares of Marksans Pharma soared 16% on the BSE, reaching an all-time high of Rs 217 during Wednesday’s intra-day trading session, driven by the company’s robust performance in the June 2024 quarter (Q1FY25). By 1:49 PM, the stock was trading at Rs 216.35, reflecting a 15% gain compared to a modest 0.24% rise in the BSE Sensex. The trading volumes surged more than three-fold, with 16 million shares traded across the NSE and BSE.
The pharmaceutical firm’s revenue for Q1FY25 grew by 18% year-on-year (YoY) to Rs 590.60 crore, while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 26% YoY to Rs 128.4 crore. The EBITDA margin also improved from 20.4% in Q1FY24 to 21.7%. The company reported a substantial 26.5% YoY increase in profit after tax, amounting to Rs 89.1 crore.
Notably, the US and North America formulation business saw a 29.8% YoY growth, reaching Rs 250.90 crore, driven by new product launches and increased orders from existing customers. Marksans Pharma indicated a promising pipeline of 32 products, consisting of 20 oral solids, 12 ointments and creams, including 4 Softgels.
Management attributed the impressive quarterly growth to a marked increase in contributions from existing customers and new product launches. Although favorable raw material prices benefited the company, higher freight costs persisted.
With shipments from a new facility underway to key markets, Marksans Pharma remains optimistic about achieving stronger performance in upcoming quarters and aims to reach a revenue milestone of Rs 3,000 crore within the next two years.
Marksans Pharma specializes in the research, manufacturing, and marketing of generic pharmaceutical formulations worldwide. Its facilities are approved by major regulatory agencies such as the USFDA, UKMHRA, and Australian TGA. The company’s diverse product portfolio covers essential therapeutic segments like cardiovascular, central nervous system, antidiabetic, pain management, gastroenterological, and anti-allergies.
First Published: Aug 14, 2024 | 2:10 PM IST
Original Story https://www.business-standard.com/markets/news/marksans-pharma-zooms-to-record-high-stock-up-on-strong-q1-results-124081400906_1.html
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