AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1 Sep - Marksans Pharma will attend Ashwamedh-Elara India Dialogue 2026 investor meet on 2 September 2026 in Mumbai.
Source: Bse
Marksans Pharma Limited (MARKSANS)
Micro CapPharma stocks · Micro cap · NSE
Marksans Pharma Ltd. is an Indian pharmaceutical company focused on OTC and Rx products across key markets like the US, UK, Australia, and other emerging regions. It operates 4 manufacturing units and 4 R&D centers, offering a portfolio of 350+ products and 2,000+ SKUs.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result12 Aug, 12:24 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
70BullishMACD − · sector +3.8pp vs Nifty 500 (3M)
Stock trend: 51
Sector RS: 98
Sector 3M: -1.8% vs Nifty 500 -5.6%
Pharma FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
MARKSANSD candles · FIT view+59.3%Latest close ₹303.05 on 2026-10-19
Bar
-2.6%
RSI
40
MACD hist
-2.94
52W pos
76%
2026-10-19O ₹311.00H ₹314.50L ₹302.00C ₹303.05Vol 8.2L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MARKSANSNifty PharmaNifty 500
- MARKSANS
- +13.5%
- Nifty 500
- -5.6%
- Nifty Pharma
- -1.5%
- Vs Nifty 500
- +19.1 pp
Chart stats
19 Oct 2026- From 52W high
- -13.6%
- 52W range position
- 76%
- ATR (14)
- 4.1%
- Volume vs 20D
- 0.41x
- Avg traded value
- ₹65.1 Cr
- 20D price channel
- ₹302 - ₹351
₹351
₹155 - ₹351
₹12.5
Latest completed session
20-session average
47.3% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · FAIR VALUE53
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good70
Revenue +0.3% · PAT +43.8% YoY
Technical
Bullish70
Price trend and sector-relative-strength timing.
Valuation
Legacy model+41.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence79
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 70/100Rev +0% YoY · PAT +44% YoY · margin expansion · operating leverage
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹321 Cr | +0.3% | -11.3% |
| EBITDA | ₹82 Cr | +17.1% | -22.6% |
| Operating margin | 26.0% | +400 bps | -300 bps |
| PAT | ₹69 Cr | +43.8% | -25.0% |
| PAT margin | 21.5% | +650 bps | -391 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 27.30
- P/B
- 4.66
- EV/EBITDA
- 17.73
- Market Cap
- 14087.00Cr
Profitability
- ROE
- 15.20%
- ROCE
- 18.80%
- ROA
- 13.51%
- Dividend Y
- 0.29%
Growth (CAGR)
- Revenue 5Y
- 16.00%
- EPS 5Y
- 12.00%
- Revenue 3Y
- 17.00%
- EPS 3Y
- 16.00%
Balance Sheet
- Debt/Equity
- 0.11
- Interest Coverage
- 28.56×
- Altman Z
- 8.80
- Book Value
- 66.70
Cash Flow
- FCF Yield
- 1.48%
- FCF Positive Y
- 9/5
- OCF
- 458.00 Cr
- EPS TTM
- 11.41
Shareholding
- Promoter Hold
- 43.87%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 80%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 2,951+12.5% vs prev
Net Profit
₹ CrLatest: 420+9.7% vs prev
Return on Equity
%Latest: 933+7266.5% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 40.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 40 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 14% off 52W high · 96% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
92
RS percentile
Stage 2 UptrendEstablished S2
1M return
-5.3%
3M return
+13.5%
6M return
+68.8%
1Y return
+65.3%
RS 1D
0
RS 20D
-1
Sector rank
#1
Industry rank
#17
Stage evidence
- Price is 18.3% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +8.6%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
20 May 2026
S2 age
107 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 189.98-1.54%
RS vs Nifty 500190
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation10/30
Growth12/25
Quality11/20
Balance Sheet8/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
53
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
53/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 41.0%.
- Cash flow contributes 7/10 to the score.
Main drags
- Valuation is weaker at 10/30; verify the latest quarterly trend.
- Growth is weaker at 12/25; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
27.3
PB
4.7
EV/EBITDA
17.7
ROE
15.2%
ROCE
18.8%
FCF Yield
1.5%
Debt/Equity
0.1
MoS
+41.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
53
Previous: 53
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+41.0%
Previous: +41.0%
Score history
12 stored score snapshots. Latest stored move: +2 points.
20 Oct 2026
v4.3-runtime-valuation
52
52
52
52
51
51
51
53
51
51
51
53
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹130.86
-131.6% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹513.45
+41.0% MoS
PEG
2.01
Comparable companies
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SUDEEPPHRM
Micro
Sudeep Pharma Limited
Healthcare Services
match 170
49
65.4
25.2%
-32%
FAIR VALUE
STAR
Micro
Strides Pharma Science Limited
Healthcare Services
match 168
69
16.6
20.0%
+65%
UNDERVALUED
SPARC
Micro
Sun Pharma Advanced Research Company Limited
Healthcare Services
match 166
56
3.8
279.0%
+11%
FAIR VALUE
YATHARTH
Micro
Yatharth Hospital & Trauma Care Services Limited
Healthcare Services
match 163
37
52.6
10.2%
-15%
WATCHLIST
NATCOPHARM
Small
Natco Pharma Limited
Healthcare Services
match 163
72
13.7
17.1%
+69%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-10T07:25:33.535Z
Management commentary snapshot
Marksans Pharma achieved its highest-ever total income of ~₹3,000 cr and PAT of ₹420 cr in FY26. Q4FY26 saw strong revenue growth (+20.8% YoY, +13.5% QoQ) and EBITDA margin expansion to 22.8%, driven by new launches and UK recovery.
The company delivered on its FY26 guidance, with strong top-line growth driven by new launches and market share gains in key geographies. Margin expansion in Q4FY26 indicates operating leverage. While input cost pressures and geopolitical risks are noted, the robust pipeline, completed capex cycle, and net cash position support continued growth.
Current business mix
FY26 Revenue by Geography
Latest issuer-disclosed distribution across 4 reported categories.
US & North America52.0%
UK & Europe34.4%
Australia & New Zealand10.3%
RoW3.4%
Growth engines
New Product Launches
positiveGrowth was led by a series of new launches across markets, including 112 new SKUs in the US and 11 Rx brands in Australia.
Market Share Gains
positiveGrowth is driven by market share gains in key regions, especially US and Australia, and expansion across OTC store brands.
UK Market Recovery
positiveUK delivered a very strong recovery in Q4, achieving its highest-ever quarterly revenue, with price erosion stabilizing.
Global Footprint Expansion
positiveStrengthened global footprint by entering new markets including Germany, Canada, and Ireland.
Capacity and execution
Goa Unit 2 Capacity Expansion
positiveAcquired manufacturing facility in Goa (Unit 2) has scalable capacity with a plan to double existing Indian capacity to 16bn units p.a.
Tailwinds
Softening Raw Material Prices
positiveGross profit increased YoY, supported by softening of raw material prices and better product mix.
Favorable Currency Movement
positiveGrowth is driven by new product launches, market share gains, and favorable currency movement.
Operating Leverage
positiveEBITDA grew faster than revenue, reflecting benefits from our cost optimization program and strong operating leverage.
Structural Shift to OTC
positiveGlobal OTC market projected to be $215 bn in 2026, with private-label penetration accelerating across US & UK.
Headwinds
Input Cost Pressures
negativeGrowth slower than revenue on account of rising input costs due to the ongoing geopolitical tensions in Q4FY26.
Geopolitical Disruptions (RoW)
negativeRoW performance impacted by ongoing geopolitical disruptions; order fulfilment constrained by logistics challenges.
UK Price Erosion
negativeFY26 revenue moderated YoY due to high single-digit price erosion in select UK products, though recovered in H2.
Risk radar
Input Cost Volatility
neutralManagement is closely monitoring emerging input cost pressures due to geopolitical tensions.
Geopolitical & Macroeconomic Risks
neutralRoW business faces ongoing geopolitical tensions, macroeconomic volatility, and elevated payment risks in select regions.
Execution of New Market Entry
neutralSuccessful integration and revenue generation from newly entered markets like Germany, Canada, and Ireland are key.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison provides a view of overall annual growth and long-term trends, while QoQ is crucial for assessing sequential momentum, especially given the UK's strong recovery and Australia's seasonal peak and new Rx launches in Q4.
Sector KPIs management disclosed
US & North America Revenue Growth
positiveFY26 revenue at ₹1,533 cr, up 24.0% YoY. Q4FY26 revenue at ₹406 cr, up 23.6% YoY.
UK & Europe Revenue Growth
positiveFY26 revenue at ₹1,015 cr, up 1.4% YoY. Q4FY26 revenue at ₹308 cr, up 12.3% YoY, highest-ever quarterly revenue.
Australia & New Zealand Revenue Growth
positiveFY26 revenue at ₹303 cr, up 19.9% YoY. Q4FY26 revenue at ₹123 cr, up 61.3% YoY, highest-ever quarterly performance.
R&D Spend
neutralR&D spends at ₹89 cr in FY26, representing 3.0% of consolidated revenue.
Management forward view
FY26 Guidance Achieved
positiveManagement successfully delivered on its guidance with highest-ever total income, EBITDA, and PAT.
Capex Cycle Nearing Completion
positiveClosed the year with ~₹990 crore cash, with the major capex cycle now nearly complete.
Focus on OTC Segment
positiveAim to capture a significant part of the multi-billion-dollar OTC opportunity and double US store brand OTC revenue.
Inorganic Growth Strategy
positiveWill follow a calibrated inorganic growth approach, evaluating acquisitions in Europe for front-end presence.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| US & North America Revenue Growth | FY26: +24.0% YoY | Sustained demand momentum and strong order book execution, especially with 51 products in pipeline. |
| UK & Europe Revenue Growth | Q4FY26: +12.3% YoY | Continued recovery and stabilization of price erosion, along with successful launches from 200+ products to be filed. |
| EBITDA Margin Trend | Q4FY26: 22.8% | Ability to maintain or expand margins amidst emerging input cost pressures and leveraging operating scale. |
| Indian Manufacturing Capacity Expansion | Plan to double to 16bn units p.a. | Timely commissioning and ramp-up of the acquired Goa Unit 2 to support future volume growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
79Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 83rd percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
106 docs text-extracted · 36 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
88th percentile
overall median 67 · Pharma: 83rd pctile, median 70 · Micro: 79th pctile, median 73
Evidence depth
Financial-only
106 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.4%.
- ▸9 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Marksans Pharma Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Copy of Newspaper Publication regarding transfer of unclaimed dividend and equity shares of the Company to the IEPF
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Date of payment of Dividend 3 Jul - 34th AGM on 27 August 2026; record date 20 August; final dividend ₹0.90 per share.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Dividend Updates 3 Jul - 34th AGM on 27 August 2026; record date 20 August 2026 for ₹0.90 final dividend.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement Under Regulation 30 (LODR)- Updates 20 Jul - On 20 July 2026, Marksans Pharma completed 100% acquisition of Germany-based ABCnow GmbH.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 8 Jul - Marksans Pharma to acquire 100% of ABCnow GmbH for €892,384 by 31 July 2026.
Source: Bse
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Bse
Investor presentationJun 2026
Jun 2026 · PPT
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 9 Jun - India Ratings revised Marksans Pharma’s ₹195.75 crore bank loan outlook to Positive; rating affirmed.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Jun - Intimation of schedule for Virtual Investors Conference
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.