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Marksans Pharma eyes 20-25% EBITDA margin for FY 2022
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Yash Ved, Mumbai
October 27 , 2021
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Marksans Pharma Ltd, one of the fastest growing pharmaceutical companies in India, is eyeing earnings before interest, taxes, depreciation, and amortization (EBITDA) margin to remain within range of 20-25% for FY 2022.
Jitendra Sharma, chief financial officer, Marksans Pharma said, “We have also launched Rosuvastatin and Metoclopramide in UK during Q1.We will be launching 3 more products in UK by Q3 of this year.”
The company's mission and vision is to become fully integrated, research driven global pharmaceutical company.
“We have already got in ORBIMED PE fund during this year with 50 million investment. Our 100% revenue are coming from export markets. US, UK, Australia, NZ and Canada accounts for over 95% of our revenue. We intend to expand our market share in US/EU markets,” stated Sharma.
The company also announced that US Food and Drug Administration (FDA) has granted approval for an Abbreviated New Drug Application (ANDA) for acetaminophen extended-release tablets USP, 650 mg (OTC).
For the first quarter ended June 30, 2021, the company posted 27 per cent rise in net profit at Rs. 62.6 crore. The company's operating revenue stood at Rs.349 crore as compared to Rs. 331.2 crore in Q1 FY21, an increase of 5.4 per cent.
The company's US and North America formulation business reported growth of 3.6 per cent YoY to Rs.138.4 crore in Q1FY22.
The company's balance sheet with cash and cash equivalents stood at Rs. 225.4 crore as at June 30, 2021.
Marksans Pharma Limited headquartered at Mumbai, India is engaged in research, manufacturing & marketing of generic pharmaceutical formulation in the global markets. The company's manufacturing facilities are approved by several leading regulatory agencies including US FDA, UK MHRA and Australian TGA. The company's robust product portfolio spreads over major therapeutic segments of CVS, CNS, antidiabetic, pain management, gastroenterological and anti-allergies. The company is marketing these products globally.
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