Marksans' 25.34% operating margin beats healthcare peer median
Management attributed softer US and Australia-New Zealand performance to seasonality and said winter demand should pick up from Q2 and Q3.
Filed 12 Aug 2026, 12:25 IST · Marksans Pharma Ltd (MARKSANS)
Key takeaways
- Marksans reported consolidated operating profit of Rs 213.03 cr on revenue of Rs 840.8 cr in Q1FY27.
- Its 25.34% operating margin was 2.53 percentage points above the 22.81% median for 62 healthcare peers.
- Other income of Rs 25.4 cr supplemented profit before tax of Rs 206.57 cr, while net profit reached Rs 159.41 cr.
Price around the results
Q1 profit came with a 25.34% operating margin
Marksans reported consolidated revenue of Rs 840.8 cr and operating profit of Rs 213.03 cr for Q1FY27. Operating earnings translated into net profit of Rs 159.41 cr after interest of Rs 7 cr, depreciation of Rs 24.86 cr and tax of Rs 47.16 cr. Other income of Rs 25.4 cr also supplemented profit before tax of Rs 206.57 cr.
Peer comparison favours Marksans, but seasonal markets softened
Marksans' operating margin was 2.53 percentage points above the 22.81% median reported by 62 healthcare peers. Management said US revenue declined sequentially because Q1 is seasonally weaker, while Australia and New Zealand moderated after a strong Q4. The company also reported single-digit price erosion in its Rx products.
Management points to winter demand and selective OTC switches
Management said winter demand is expected to start picking up from Q2 and Q3, supporting further growth. Its roadmap includes selective Rx-to-OTC switches, which the company presented as a new initiative rather than a current-quarter result.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹841 cr |
| Other income | ₹25 cr |
| Expenses | ₹628 cr |
| Operating profit | ₹213 cr |
| Operating margin (%) | 25.34% |
| Interest | ₹7 cr |
| Depreciation | ₹25 cr |
| Profit before tax | ₹207 cr |
| Tax | ₹47 cr |
| Net profit | ₹159 cr |
| EPS (₹) | ₹3.47 |
Operating margin of 25.34% compares with a Healthcare sector median of 22.81% across 62 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- The company expects winter demand to pick up from Q2 and Q3 onwards, supporting further growth.
New initiatives
- The company’s roadmap includes selective Rx-to-OTC switches.
Problems & risks
- US revenue declined sequentially because of softer demand during the seasonally weaker first quarter.
- The company reports single-digit price erosion in Rx products.
- Australia and New Zealand performance moderated sequentially after a strong Q4 due to seasonal patterns.
What to watch
- Whether operating margin holds above the 25.34% reported in Q1FY27.
- Whether US revenue improves after management's cited seasonally weaker first quarter.
- Whether single-digit Rx price erosion persists and how selective Rx-to-OTC switches progress.