Q4 2024 Marksans Pharma Ltd Earnings Call Transcript
Key Points
- Marksans Pharma Ltd (BOM:524404) achieved its highest revenue and EBITDA in FY24, with revenue expanding by 18% year on year to INR2,177 crores and EBITDA expanding by 35% year on year to INR459 crores.
- The company received key approvals from US FDA and UK MHRA in pain management, cough and cold, and other therapeutic segments.
- Expansion and scalability of the acquired unit of Teva Pharma are proceeding according to plan, with meaningful revenue contribution expected in FY25.
- The company remains debt-free with a total of INR674 crores of cash as of March 31, 2024.
- The Board has recommended a final dividend of INR0.6 per equity share, which is 60% of INR1 face value, as part of its commitment to enhance shareholder value.
- Q4 performance was flattish with a slight decline in revenue compared to the previous quarter, mainly due to the seasonality of the product mix.
- Freight rates almost doubled in Q4 due to the Red Sea crisis, impacting costs by approximately INR9 crores.
- The company incurred increased expenses due to the hiring of over 200 new people in the acquired manufacturing plant in Teva.
- Profit after tax in Q4 FY24 was INR77.6 crores compared to INR82.7 crores in Q4 FY23, a decline of 6.1% due to increased tax rates.
- The company has strategically increased its inventory levels of finished products and key raw materials in its US warehouse, resulting in an increase in stock reserves by approximately INR7 crores.
Ladies and gentlemen, good day, and welcome to the Q4 FY '24 earnings conference call of Marksans Pharma Limited, hosted by Elara Securities Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Dr. Bino Pathiparampil from Elara Securities Limited. Thank you and over to you.
Thank you, Yashashri. Good evening to all of you on the call. On behalf of Elara Securities, I, Dr. Bino Pathiparampil, welcome you all to the management call of Marksans Pharma to discuss the Q4 and full year FY '24 earnings release and the business outlook. We have with us Mark Saldanha, Chairman and MD; and Jitendra Sharma, CFO. I now hand over the call to Mark and Jitendra. Over to you.
Thank you, Bino. Welcome, everyone, and thank you for joining us in our Q4 FY24 earnings conference call. We appreciate your continued interest and
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