Marksans Pharma Ltd. — Interim / Quarterly Report 2021

May 31, 2021

==> picture [343 x 61] intentionally omitted <==

FY21 Operating Revenue at Rs. 1,376.2Cr.; growth of 21.3% YoY

EBITDA at Rs. 339.6Cr., growth of 76.6% YoY

Mumbai, May 31, 2021– Marksans Pharma Ltd (NSE: MARKSANS; BSE Code: 524404), one of the fastest growing pharmaceutical companies in India today announced financial results for the fourth quarter and year ended March 31[st] , 2021.

Financial Highlights - Consolidated Financial Overview:

in Rs. Cr.

					FY20	YoY Growth(%)
	Q4FY21	Q4FY20	YoY Growth%	FY21
			()
Operating Revenue	330.2	335.3	(1.5%)	1,376.2	1,134.2	21.3%
EBITDA	95.4	69.2	37.8%	339.6	192.3	76.6%
EBITDAMargin%	28.9%	20.6%	830 bps	24.7%	17.0%	770 bps
PAT	79.5	42.7	86.0%	238.5	120.8	97.5%
PATMargin%	23.6%	12.7%	1090 bps	17.2%	10.6%	660 bps

Consolidated Q4 FY21 (Y-o-Y)

• Operating Revenue was Rs.330.2 Cr. as compared to Rs. 335.3 Cr. in Q4 FY20 due to deferment of certain sales in lockdown to the succeeding quarter

• EBITDA was Rs. 95.4 Cr. as compared to Rs. 69.2 Cr. in Q4 FY20, an increase of 37.8%

• EBITDA Margin stood at 28.9% as against 20.6% in Q4 FY20, Margin expansion of 830 basis points

• PAT stood at Rs.79.5 Cr. as compared to Rs. 42.7 Cr. in Q4 FY20, a growth of 86.0%

Consolidated FY21 (Y-o-Y)

• Operating Revenue was Rs.1,376.2 Cr. as compared to Rs. 1,134.2 Cr. in FY20, an increase of 21.3%

• EBITDA was Rs. 339.6 Cr. as compared to Rs. 192.3 Cr. in FY20, a growth of 76.6%

• EBITDA Margin stood at 24.7% as against 17.0% in FY20, Margin expansion of 770 basis points

• PAT stood at Rs. 238.5 Cr. as compared to Rs. 120.8 Cr. in FY20, an increase of 97.5%

Commenting on the performance Mark Saldanha, Managing Director of the Company said “I am pleased to share that our all-round growth of 21.3% in FY21 was on the back of increasing wallet share with existing customers, addition of new logos and new product launches. Our investments in the US business is bearing fruit with EBITDA margin expansion to 24.7% brought about by operating leverage as well as an optimised product mix. We will continue to invest in our businesses to make ourselves future ready while remaining cautiously optimistic of continuing the growth traction in coming quarters.”

Business Performance

Revenue by Market:

in Rs. Cr.

	FY21	FY20	YoY Growth(%)	Mix(FY21) %
US & North America- Formulation	585.5	436.4	34.2%	42.5%
Europe,UK- Formulation	582.0	510.0	14.1%	42.3%
Australia & NZ- Formulation	146.3	140.7	4.0%	10.6%
Rest of World(ROW)	62.3	47.1	32.4%	4.6%
Consolidated Revenue from operations	1,376.2	1,134.2	21.3%

Business Highlights

• US & North America Formulation business reported growth of 34.2% YoY to Rs.585.5 Cr.in FY21.

• Company achieved revenue of Rs.582.0 Cr. from Europe, UK Formulation business in FY21 as compared to Rs. 510.0 Cr. achieved during last year same period registering growth of 14.1%. o Launched 5 new products in UK in FY21.

• R&D expense for the year FY21 is at Rs.18.9 crores.

• Generated strong Cash from Operations and Free Cash Flow of Rs. 178.7 crores and Rs. 132.3 crores respectively

• Strong balance sheet with Cash and Cash equivalents of Rs. 212.3 Cr.

• Product Pipeline:

  • Plan to file 12 ANDAs in US and over 20 MA’s in UK and Australia in the next two years

  • o Plan to file 7 DMFs over next 2 years for API business

• Capacity expansion at US facility completed with addition of packaging and manufacturing lines

• Company plans to incur capex of Rs. 200.0 Cr. over 2 years for both Formulations and API business

• Currently undergoing capacity expansion for softgel capsules in Goa

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 Investor Relations ISIN: INE750C01026 Tel : +91 22 4215 0210 NSE Code: MARKSANS rudeshi@christensenir.com/ BSE CODE: 524404 rthakur@christensenir.com Website: http://www.marksanspharma.com