Marksans Pharma Q2 Results | Profit inches up as 12% revenue growth offset by margin pressure

Drug firm Marksans Pharma Ltd on Thursday (November 13) reported a net profit of ₹98.2 crore for the quarter ended September 2025, up 1.5% from ₹96.7 crore in the same period last year.

Revenue for the quarter grew 12% year-on-year to ₹720 crore from ₹642 crore, reflecting steady business expansion. EBITDA declined 1.7% to ₹144.7 crore from ₹147.2 crore in the year-ago quarter, while the operating margin contracted to 20% from 23% previously.

The company reported a gross profit of ₹411.8 crore, up 7.4% year-on-year, with a gross margin of 57.2%. Earnings per share (EPS) for the quarter stood at ₹2.2.

For the half-year ended September 30, 2025, the company posted operating revenue of ₹1,340.4 crore, up 8.8% from the same period last year. Gross profit for H1 FY26 was ₹770.0 crore, a growth of 8.1% year-on-year, with a gross margin of 57.4%. EBITDA stood at ₹244.6 crore, translating into an EBITDA margin of 18.2%, and EPS for the half-year was ₹3.5.

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In the US and North America, Marksans Pharma’s formulation business reported revenues of ₹387.3 crore in Q2 FY26, demonstrating robust performance despite macroeconomic headwinds. Tariff uncertainties have now stabilised, supporting steady operations.

In the UK and Europe, the formulation business generated revenues of ₹245.3 crore in Q2 FY26. Despite continued pricing pressure, the company met its revenue and margin targets. Demand during the quarter remained favourable, and new filings and approvals have started to come through, supporting the future growth pipeline.

The Australia and New Zealand business reported revenues of ₹61.3 crore in Q2 FY26, while the Rest of the World (RoW) segment posted revenues of ₹26.5 crore for the quarter.

During H1 FY26, the company generated ₹75.2 crore from operations and incurred capital expenditure of ₹73.2 crore. The working capital cycle for Q2 FY26 was approximately 150 days, and the cash balance as of September 30, 2025, stood at ₹666.5 crore.

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Research and development (R&D) expenditure for H1 FY26 was ₹26.2 crore, representing 2.0% of consolidated revenue, reflecting the company’s continued focus on product innovation and pipeline expansion.

Shares of Marksans Pharma Ltd ended at ₹187.00, down by ₹9.60, or 4.88%, on the BSE.