Marksans Pharma Ltd. — Interim / Quarterly Report 2022

Nov 10, 2021

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H1FY22 Operating Revenue at Rs. 710.2Cr.; growth of 3.3% YoY

PAT at Rs. 108.9Cr., growth of 8.8% YoY

Mumbai, November 10, 2021– Marksans Pharma Ltd (NSE: MARKSANS; BSE Code: 524404), one of the fastest growing pharmaceutical companies in India today announced financial results for the second quarter and half year ended September 30, 2021.

Financial Highlights - Consolidated Financial Overview:

in Rs. Cr.

		Q2FY21	YoY Growth (%)	H1FY22	H1FY21	YoY Growth (%)
	Q2FY22
Operating Revenue	361.2	356.5	1.3%	710.2	687.6	3.3%
EBITDA	60.1	83.2	(27.7)%	137.4	153.2	(10.3)%
EBITDAMargin%	16.6%	23.3%	(670) bps	19.0%	22.2%	(320) bps
PAT	46.3	50.7	(8.8)%	108.9	100.1	8.8%
PATMargin%	12.5%	14.1%	(160) bps	15.0%	14.5%	50 bps

Consolidated Q2 FY22 (Y-o-Y)

• Operating Revenue was Rs.361.2 Cr. as compared to Rs. 356.5 Cr. in Q2 FY21, an increase of 1.3%

• EBITDA was Rs. 60.1 Cr. as compared to Rs. 83.2 Cr. in Q2 FY21

• EBITDA Margin stood at 16.6% as against 23.3% in Q2 FY21

• PAT stood at Rs.46.3 Cr. as compared to Rs. 50.7 Cr. in Q2 FY21

Consolidated H1 FY22 (Y-o-Y)

• Operating Revenue was Rs.710.2 Cr. as compared to Rs. 687.6 Cr. in H1 FY21, an increase of 3.3%

• EBITDA was Rs. 137.4 Cr. as compared to Rs. 153.2 Cr. in H1 FY21

• EBITDA Margin stood at 19.0% as against 22.2% in H1 FY21

• PAT stood at Rs.108.9 Cr. as compared to Rs. 100.1 Cr. in H1 FY21, an increase of 8.8%

Commenting on the performance Mark Saldanha, Managing Director of the Company said “We had a challenging half year with geopolitical issues impacting shipments and inputs. Our revenue growth of 3.3 percent in H1FY22 was driven by the increasing penetration in EU and North American markets. Higher raw material, freight and packaging costs impacted margins however reduced finance costs and lower tax outgo helped to neutralise the same resulting us grow our bottomline by 8.8% in H1FY22. We remain focused on delivering superior returns for the long term to all our stake holders.”

Business Performance

Revenue by Market:

in Rs. Cr.

	H1FY22	H1FY21	YoY Growth (%)	Mix (H1FY22) %
Europe,UK- Formulation	305.1	286.0	6.7%	43.0%
US & North America- Formulation	306.1	302.5	1.2%	43.1%
Australia & NZ- Formulation	69.8	69.4	0.5%	9.8%
Rest of World(ROW)	29.1	29.7	(2.0)%	4.1%
Consolidated Revenue from operations	710.2	687.6	3.3%	100.0%

Business Highlights

• The company achieved revenue of Rs.305.1 Cr. from Europe, UK Formulation business in H1FY22 as compared to Rs. 286.0 Cr. achieved during last year same period registering growth of 6.7%.

• US & North America Formulation business reported growth of 1.2% YoY to Rs.306.1 Cr.in H1FY22.

• R&D expense for H1FY22 is at Rs. 14.4 Cr.

• Capex incurred for H1FY22 is Rs. 25.0 Cr.

• Strong balance sheet with Cash and Cash equivalents of Rs. 322.7 Cr. as at September 30, 2021.

About Marksans Pharma Ltd

Marksans Pharma Limited (www.marksanspharma.com) 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 USFDA, UKMHRA 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.

Investor Relations Team at Marksans Pharma	Registered Office
	11th Floor, "GRANDEUR”
Jitendra Sharma, CFO	Off Veera Desai Extension Road
Marksans Pharma Ltd	Oshiwara, Andheri West
Tel: +91 022 40012000	Mumbai, Maharashtra, 400 053
jitendra@marksanspharma.com	Telephone: +91 224001 2000
	Fax: +91 224001 2011
Ravi Udeshi/Rahul Thakur	CIN: L24110MH1992PLC066364
Christensen Advisory	ISIN: INE750C01026
Tel :+91 22 4215 0210	NSE Code: MARKSANS
rudeshi@christensenir.com/	BSE CODE: 524404
rthakur@christensenir.com	Website: http://www.marksanspharma.com