# Marksans Pharma share price today (Marksans Pharma Ltd, NSE: MARKSANS)

> Marksans Pharma share price today: ₹315.30 at the NSE close on 3 November 2026, up 73.2% in a year. Marksans Pharma (NSE: MARKSANS) is worth ₹14,298 crore, trades at a P/E of 27.6 and has closed between ₹163.08 and ₹336.90 over the past 52 weeks. > Marksans Pharma Ltd's share price has risen faster than its earnings: +73.2% in a year, against +9.8% for earnings per share. MARKSANS · Pharma - Formulators · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/marksans-pharma-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹315.30 (+73.2% in a year)
- P/E: 27.6× (higher than 71% of the last 11 years)
- Revenue (Jun 2026): ₹841 Cr (+35.6% on a year ago)
- Profit (Jun 2026): ₹159 Cr (+174.1% on a year ago)
- Operating margin: 25.0% (+9.0 points on a year ago)
- ROCE: 19%, FY26
- ROIC: 19.3%, against a 12.0% cost of capital: +7.3 points

The main question: the share price moved +73.2% in a year while yearly earnings per share moved +9.8%. The difference came from the market paying a higher multiple. ## What is the Marksans Pharma share price today? Marksans Pharma Ltd's share price was ₹315.30 at the close on 3 November 2026. It has been rising for 23 weeks. That is 20.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹163 and ₹337, and at that close it sat 88% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 40 weeks in a row. Over the last 11 years the share price moved +523% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Marksans Pharma this quarter? Three changes stood out: foreign funds (FIIs) raised their stake for 3 quarters in a row, revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) and best operating margin in 15 quarters. 1. Foreign funds (FIIs) raised their stake for 3 quarters in a row From 8.1% to 19.1% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹841 crore, +35.6% on a year earlier. Why: Revenue rose because UK sales grew on their own and the QliniQ business it bought added sales. Next results: check whether sales in the September quarter are higher than the June quarter, as management said they would be. From the earnings call on 13 Aug 2026. 3. Best operating margin in 15 quarters Operating margin was 25% in the June 2026 quarter, against 16% a year earlier. Why: Higher freight and raw material costs partly offset this. From the earnings call on 13 Aug 2026. ## What are Marksans Pharma's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Marksans Pharma reported revenue of ₹841 crore, up 35.6% from ₹620 crore a year earlier, and a profit of ₹159 crore, up 174.1% from ₹58.0 crore. ### Marksans Pharma results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹841 crore | ₹620 crore | +35.6% |
| Profit | ₹159 crore | ₹58.0 crore | +174.1% |
| Earnings per share | ₹3.47 | ₹1.29 | +169.0% |
| Operating margin | 25.0% | 16.0% | +9.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Marksans Pharma's management discussed these results on a call held on 13 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Marksans Pharma share price history? Marksans Pharma closed at ₹315.30 on 3 November 2026, up 73.2% from ₹182.08 a year earlier (31 October 2025) and up 368.8% over five years. Its highest weekly close since March 2016 was ₹342.75 on 29 November 2024. ### Marksans Pharma share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹286.75 | +10.0% |
| 1 month ago · 1 Oct 2026 | ₹325.20 | −3.0% |
| 6 months ago · 30 Apr 2026 | ₹184.63 | +70.8% |
| 1 year ago · 31 Oct 2025 | ₹182.08 | +73.2% |
| 3 years ago · 3 Nov 2023 | ₹112.60 | +180.0% |
| 5 years ago · 4 Nov 2021 | ₹67.25 | +368.8% |
| 10 years ago · 4 Nov 2016 | ₹46.60 | +576.6% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹50.60 | +523.1% |
| Highest weekly close since March 2016 · 29 Nov 2024 | ₹342.75 | −8.0% |
| Lowest weekly close since March 2016 · 20 Mar 2020 | ₹11.75 | +2,583.4% |
| 52-week high (weekly close) · 25 Sep 2026 | ₹336.90 | −6.4% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹163.08 | +93.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Marksans Pharma? 3 Nov 2026: Marksans Pharma closed at ₹315.30, up 10.0% on the week and down 3.0% on the month. Our read, 22 Aug 2026: The latest quarter combined faster revenue growth with a higher operating margin, while Europe became a larger contributor and cash generation improved. ### Earlier

- 20 Aug 2026: ex-date for a dividend of ₹0.90 a share. - 13 Aug 2026: Marksans Pharma held its results call for April to June 2026. Management guided: FY27 revenue growth 15-20% and operating margin 20-21% retained; 21-22% operating margin achievable by year-end, with gross margin around 55-56% viewed as sustainable. - Results for April to June 2026: Revenue up 35.6% and profit up 174.1% on a year earlier. ### Our read of the business

The latest quarter combined faster revenue growth with a higher operating margin, while Europe became a larger contributor and cash generation improved. April to June 2026: Revenue and profit rose sharply while the margin moved further above the formal full-year framework. (Our read after the April to June 2026 results, written 22 August 2026.)

## What dividend does Marksans Pharma pay? Marksans Pharma paid ₹0.90 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.29% at the ₹315.30 close on 3 November 2026. The last was a dividend of ₹0.90 a share, ex-date 20 August 2026. ### Marksans Pharma dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 20 Aug 2026 | ₹0.90 | Dividend |
| 1 Aug 2025 | ₹0.80 | Dividend |
| 17 Sep 2024 | ₹0.60 | Dividend |
| 7 Jun 2023 | ₹0.50 | Dividend |
| 19 Aug 2022 | ₹0.25 | Dividend |
| 15 Sep 2021 | ₹0.25 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Marksans Pharma Ltd paid out 10% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Marksans Pharma management say on the latest results call? On the call for April to June 2026, held on 13 August 2026, Marksans Pharma's management guided: FY27 revenue growth 15-20% and operating margin 20-21% retained; 21-22% operating margin achievable by year-end, with gross margin around 55-56% viewed as sustainable. > “We are now working toward 300 million, and then we will probably look at 400 million over a horizon of perhaps 5 years. Our immediate objective is first to reach our next benchmark of 300 million in the US.”
> Mark Saldanha, on the call for April to June 2026

### What management guided

- QliniQ FY27 revenue around ₹150-175 crore, also discussed at EUR 14-15 million; total Europe approximately ₹180 crore and current growth pace called sustainable. - Q2 revenue expected above Q1 and Q3 likely strongest; Germany revenue expected early Q3, Ireland next financial year, and ANZ momentum should build. - Revenue goal ₹4,000 crore within next two years; Europe planned at approximately ₹1,000 crore within five years through further acquisitions. - US business revenue objective of 300 million initially, then 400 million over approximately five years; OTC remains core, with mix potentially moving toward 85-15% OTC/RX. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/2665/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 13 August 2026.)

## What is Marksans Pharma's order book? Management said US order-book reflection would occur in the next financial year after commercialization. - Management had previously expected part of the US order book to begin execution in the reported quarter sequence. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026.)

## What could change the Marksans Pharma story? What are the risks? A sequential margin decline that takes operating margin below the formal full-year range while Europe and Teva fail to add visible revenue would show that the current earnings level was inventory- and mix-assisted rather than a durable operating change. ### Each change stops working if

- : Teva revenue or utilization does not improve across two reported quarters despite the stated product pipeline. - : Germany produces no reported revenue by the stated launch window or acquired European revenue does not convert into sustained consolidated growth. - : North America growth falls below the company framework while price erosion moves beyond the range management described. ### The main risks

- : Input-cost and freight pressure may arrive after the inventory buffer unwinds. ✓ fact
- : Working-capital growth remains a red dig until collection and inventory terms are disclosed. ✓ fact
- : Management has changed the timing or framing of capacity, order-book and margin guidance. ✓ fact
- : Europe execution may be slower than the acquisition and setup narrative implies. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026.)

## What to watch in Marksans Pharma's next results? When Marksans Pharma reports July to September 2026, these are the 3 checks that show whether the story is still on course. First: German platform first revenue - check performance against the indicated near-term launch timing. - What to check (from the call)
- German platform first revenue - check performance against the indicated near-term launch timing. - Gross-margin normalization after lower-cost inventory depletion - check freight and raw-material pass-through. - Sequential revenue acceleration and cash conversion after inventory unwinding - check the next print for both. ## Which stock lists is Marksans Pharma on? Marksans Pharma is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Pharma stocks. - [Momentum stocks Market cap cr: 14152.432397126064](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 460](https://www.sectoralpha.in/small-cap-stocks-india)
- [Pharma stocks Market value (₹ crore): 14152.432397126064](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Marksans Pharma profitable? Marksans Pharma Ltd earned ₹159 Cr of net profit in the Jun 2026 quarter, +174.1% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹420 Cr. Over 10 years profit has grown 17.6% a year on average. That is 18.9% of the quarter's revenue. The same quarter a year earlier earned ₹58.0 Cr. For the full year, FY26 profit was ₹420 Cr (+9.7% on the year before). Why profit moved: revenue changed +35.6% on a year earlier and the margin moved +9.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +61.8% and revenue +19.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Marksans Pharma make, and is it growing? Marksans Pharma Ltd reported ₹841 Cr of revenue in the Jun 2026 quarter, +35.6% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 12.7% a year on average. The last full year, FY26, came in at ₹2,951 Cr. Why this happened. The value-chain climb is visible in the wider regulated-market footprint: the latest call attributes a large Europe contribution to organic UK growth and the QliniQ consolidation, with Germany scheduled to begin contributing after setup. The last four reported quarters add to ₹3,171 Cr. FY26 revenue was ₹2,951 Cr, +12.5% on the year before. Recent pace: the last four quarters grew +19.8% on average, against 12.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +19.6%, against +18.2% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +48.0%, against +24.9% a year (accelerating). ## How much of every ₹100 of sales does Marksans Pharma keep? Marksans Pharma Ltd's operating margin was 25.0% in the Jun 2026 quarter, 9.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 6.0% and 25.0%. The latest quarter is within that range. Why this happened. The operating-leverage catapult applies because management described unused Teva capacity and further volume potential before major expansion capex is needed. The current quarter’s higher operating margin is consistent with that mechanism, although it does not prove the margin is permanent. Why the margin moved: operating margin changed +9.2 percentage points on the year while gross margin changed +1.4 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Marksans Pharma's profit turning into cash? Over the last 3 years, 80% of Marksans Pharma Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹458 Cr of operating cash against ₹420 Cr of profit. After ₹193 Cr of spending on assets, ₹265 Cr was left over as free cash. Why this happened. Management reported cash generation and net cash after the QliniQ payment, and said funds are intended for inorganic growth. This is optionality rather than a base-case contribution because no further transaction size or closing date was committed. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 80% of profit came in as cash: the cash cycle got 44 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.4× depreciation over three years. The next section checks what that spending is building. ## Where does Marksans Pharma's cash go? Marksans Pharma Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 261 days in FY26, up from 217 days in FY21. It spent ₹863 Cr on assets over the last 3 years. Customers take 80 days to pay, and stock sits for 278 days on average. At FY26 sales of ₹2,951 Cr, each day of that cycle ties up about ₹8.1 Cr, so roughly ₹2,110 Cr is tied up in the business at any time. FY26: customers took 80 days to pay and stock sat for 278 days, about 9.1 months of sales sitting as stock, for a full cycle of 261 days, longer than FY21's 217. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 278 days. Customers pay about 80 days after that. Suppliers are paid at 96 days. Together that makes the 261-day cycle. Spending on assets: ₹863 Cr over the last 3 years, against ₹256 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹59.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Marksans Pharma's P/E ratio, and how does it compare with its own history? Marksans Pharma Ltd's P/E is 27.6×, near the high end of its own history: higher than 71% of past readings. Its usual P/E (the middle reading) is 21.4×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +9.8% while the price moved +73.2%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +36.2% a year; about +13.1% a year came from earnings growth and about +23.1 percentage points from the multiple (the market paying more); over 10 years the price moved +21.1% a year; about +39.1% a year came from earnings growth and about −18.0 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Marksans Pharma share price assume? Worked out from its price on 24 August 2026, Marksans Pharma Ltd's share price assumed profit growth of about 17.1% a year. Over the past 10 years its profit actually grew 17.6% a year. Today its P/E is 27.6×, higher than 71% of its own last 11 years. This is a one-day reading, taken on 24 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Marksans Pharma business getting better or worse? Marksans Pharma Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 23.5%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Marksans Pharma story, and has it been checked? Marksans Pharma Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: EARLY EXPANSION. What is not proven yet. A sequential margin decline that takes operating margin below the formal full-year range while Europe and Teva fail to add visible revenue would show that the current earnings level was inventory- and mix-assisted rather than a durable operating change. What would change our mind. A sequential margin decline that takes operating margin below the formal full-year range while Europe and Teva fail to add visible revenue would show that the current earnings level was inventory- and mix-assisted rather than a durable operating change. The test written in advance. A sequential margin decline that takes operating margin below the formal full-year range while Europe and Teva fail to add visible revenue would show that the current earnings level was inventory- and mix-assisted rather than a durable operating change. Measured by: the thesis as written as stated by the next result. What the company does. The latest quarter combined faster revenue growth with a higher operating margin, while Europe became a larger contributor and cash generation improved. The operating-leverage catapult is credible because Teva still has unused capacity and management retains a broad product-launch plan. What the surface reading misses. The surface reading is: Q1 FY27 reported revenue, operating profit, operating margin, net profit and EPS were all higher than the corresponding Jun 2025 quarter. What the surface reading misses. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Marksans Pharma management deliver what it promised? What Marksans Pharma Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. FY27 EBITDA Margin Outlook Is Mixed · 13 August 2026. In May 2026, management confirmed that the full-year FY27 EBITDA margin would remain in the 20%-21% range. In Aug 2026, management separately said 21%-22% was achievable for the year, while also reaffirming the prior 20%-21% plan on the same call, leaving unclear whether the higher range is a revised full-year outlook or only an exit-rate expectation. Unexplained Delay in Capacity Expansion CAPEX · 27 May 2026. During the Nov 2025 call, management provided firm guidance to initiate an INR 100 crore capital expenditure program in 2026 to expand their older facility's tablet capacity. However, when an analyst explicitly asked for an update on this timeline in the May 2026 call, management abandoned the budgeted timeframe entirely, downplaying the need for the immediate expansion by citing spare capacity. Capex Budget Revision · 6 February 2026. In the November 2025 call, management explicitly stated they were budgeting approximately INR 100 crores for their next major capacity expansion into new blocks. However, in the February 2026 call, they significantly revised this estimate upward to between INR 150-200 crores for the same facility expansion without detailing the reasons for this 50-100% cost increase. Earlier call (Nov 2025): “We are budgeting about 100 crores onto that CAPEX... We will put only about 100 crores.” Later call (Feb 2026): “If we look at a new block or manufacturing plant based on order book demand, the capex could be between 150-200 crores.”

Order Book Execution Delayed · 6 February 2026. Management indicated in August 2025 that $45-50 million of their US order book would begin execution specifically during October, November, and December 2025. By February 2026, this timeline shifted, with management now stating that the reflection of the $220 million order book in the P&L will only occur in the next financial year (FY27). Earlier call (Aug 2025): “Out of that nearly [order book], $45 million to $50 million of that the execution will start in the month of October, November, December.” Later call (Feb 2026): “You will see it in the next financial year. Once we receive an award, it takes 5-6 months to commercialize. You should see the trending toward that figure by the first or second quarter.”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Marksans Pharma management's track record? Conservative re-guidance rather than execution failure; US revenue +20% on a year earlier validates core-market execution. ### Regulatory and governance record

Stale 2018 SEBI adjudication order; other SEBI search hits (Refex, HDFC-merger) are unrelated; no current action, penalty, or fraud allegation. Sources:

- [bseindia.com](https://www.bseindia.com/xml-data/corpfiling/AttachLive/be80)
- [sebi.gov.in](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2018/154099)
- [etmoney.com](https://www.etmoney.com/stocks/marksans-pharma-ltd/shareholding)

(Checked 21 July 2026.)

## How much does Marksans Pharma earn on its capital? Marksans Pharma Ltd earned a ROCE of 19% in FY26. That is up from a low of 4% in FY17. Its return on capital used (ROIC) is 7.3 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 14.2% net margin and 0.77× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 14.2% net margin × 0.77× asset turnover × 1.28× leverage (assets divided by equity) ≈ 14.0% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 19.3% − 12.0% = +7.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 19.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 16.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Marksans Pharma have too much debt? Marksans Pharma Ltd has total debt of ₹343 Cr against shareholder equity of ₹3,053 Cr as of Jun 2026, so its debt is 0.11× its equity, which is very little. Year by year, that ratio went from 0.09 in FY22 to 0.11 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Marksans Pharma shareholding pattern? Foreign institutions cut their stake in Marksans Pharma Ltd by 2.3 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 19.1% of the company. Domestic institutions moved +1.4 points over the same period, to 5.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −2.3 points over 8 quarters, to 19.1%; Domestic institutions: +1.4 points over 8 quarters, to 5.5%; Promoters: +0.0 points over 8 quarters, to 43.9%. Why the owners changed: foreign institutions drove it (−2.3 points), with the other side taken by domestic institutions (+1.4 points). They reduced their stake. ## How far is Marksans Pharma from balance-sheet trouble? For Marksans Pharma Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Marksans Pharma rank in its industry? 64.1 out of 100, rank 10 of 44 in Pharma - Formulators, with 74% of the evidence available. Marksans Pharma Ltd scores 64.1 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 10. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 28.7 + 17.2 + 6.3 + 11.9 = 64.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Marksans Pharma compared with? Marksans Pharma ranks 10 of 44 Pharma - Formulators companies on the 4-Factor Sector Score, with 64.1 out of 100. 1. [Rubicon Research Ltd](https://www.sectoralpha.in/stocks/rubicon-research-ltd) RUBICON · leader · Most evidence points up · 83% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 46.8% · Profit 91.4% · Operating margin change 2 points · 88% evidence Capital efficiency 18.6/25 · ROCE 28.4% · Operating margin 24% · 100% evidence Valuation 6.2/20 · P/E 92.5× · PEG 2.31 · 65% evidence Relative strength 16.5/20 · Lead over its industry 28.1% · Lead over NIFTY 500 53.6% · 1 year 160.5% · 70% evidence · 11 of 12 weeks ahead Exact sum: 30.1 + 18.6 + 6.2 + 16.5 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Kwality Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/kwality-pharmaceuticals-ltd) KPL · breaking out · Most evidence points up · 81% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 37.9% · Profit 88.4% · Operating margin change 3 points · 88% evidence Capital efficiency 18.2/25 · ROCE 24.1% · Operating margin 25% · 100% evidence Valuation 11.0/20 · P/E 44.2× · PEG 0.54 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 74.4% · 1 year 288.9% · 25% evidence · 9 of 9 weeks ahead Exact sum: 29.9 + 18.2 + 11 + 12.3 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Accent Microcell Ltd](https://www.sectoralpha.in/stocks/accent-microcell-ltd) ACCENTMIC · leader · Most evidence points up · 65% evidence 70.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue n/a · Profit n/a · Operating margin change 7 points · 27% evidence Capital efficiency 21.4/25 · ROCE 24.9% · Operating margin 24% · 100% evidence Valuation 9.1/20 · P/E 26.9× · PEG n/a · 50% evidence Relative strength 18.6/20 · Lead over its industry 21.4% · Lead over NIFTY 500 47.6% · 1 year 132.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.4 + 21.4 + 9.1 + 18.6 = 70.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Ajanta Pharma Ltd](https://www.sectoralpha.in/stocks/ajanta-pharma-ltd) AJANTPHARM · leader · Most evidence points up · 100% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 25% · Profit 29.8% · Operating margin change 7 points · 100% evidence Capital efficiency 21.3/25 · ROCE 34.5% · Operating margin 31% · 100% evidence Valuation 7.1/20 · P/E 34.7× · PEG 1.77 · 100% evidence Relative strength 10.5/20 · Lead over its industry -3.5% · Lead over NIFTY 500 20% · 1 year 42.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.3 + 21.3 + 7.1 + 10.5 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Glenmark Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/glenmark-pharmaceuticals-ltd) GLENMARK · breaking out · Most evidence points up · 86% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 32.9% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 20.3/25 · ROCE 39.8% · Operating margin 20% · 100% evidence Valuation 11.2/20 · P/E 20.8× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry -11.4% · Lead over NIFTY 500 10.8% · 1 year 21.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 29.1 + 20.3 + 11.2 + 8.6 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bliss GVS Pharma Ltd](https://www.sectoralpha.in/stocks/bliss-gvs-pharma-ltd) BLISSGVS · leader · Most evidence points up · 82% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.3/35 · Revenue 25% · Profit 43.1% · Operating margin change 8 points · 95% evidence Capital efficiency 14.7/25 · ROCE 16.9% · Operating margin 26% · 76% evidence Valuation 6.4/20 · P/E 42.4× · PEG n/a · 50% evidence Relative strength 16.7/20 · Lead over its industry 59% · Lead over NIFTY 500 86.2% · 1 year 312.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.3 + 14.7 + 6.4 + 16.7 = 67.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) FREDUN · breaking out · Most evidence points up · 76% evidence 65.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.9/43.75 · Revenue 50.3% · Profit 91.3% · Operating margin change 0 points · 88% evidence Capital efficiency 19.0/31.25 · ROCE 21.5% · Operating margin 14% · 100% evidence Valuation 14.9/25 · P/E 52.7× · PEG 0.77 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 31.9 + 19 + 14.9 = 65.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) LUPIN · quiet · Most evidence points up · 89% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 28.2% · Profit 49.2% · Operating margin change 2 points · 88% evidence Capital efficiency 19.4/25 · ROCE 29.9% · Operating margin 30% · 100% evidence Valuation 16.1/20 · P/E 15.4× · PEG 0.54 · 65% evidence Relative strength 2.0/20 · Lead over its industry -24.5% · Lead over NIFTY 500 -4.7% · 1 year 2.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.9 + 19.4 + 16.1 + 2 = 65.4 · What this means: Earnings are strong; relative strength in its sector is -24.5% and the one-year return is 2.4%. 9. [Ipca Laboratories Ltd](https://www.sectoralpha.in/stocks/ipca-laboratories-ltd) IPCALAB · turning · Most evidence points up · 78% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 10.6% · Profit 68% · Operating margin change 6 points · 83% evidence Capital efficiency 15.7/25 · ROCE 17% · Operating margin 24% · 76% evidence Valuation 11.0/20 · P/E 35.6× · PEG n/a · 50% evidence Relative strength 14.7/20 · Lead over its industry -0.5% · Lead over NIFTY 500 23.6% · 1 year 51.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24 + 15.7 + 11 + 14.7 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. Marksans Pharma Ltd this page MARKSANS · leader · Evidence leans up · 74% evidence 64.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 19.6% · Profit 48% · Operating margin change 9 points · 88% evidence Capital efficiency 17.2/25 · ROCE 18.8% · Operating margin 25% · 100% evidence Valuation 6.3/20 · P/E 26.8× · PEG 2.85 · 65% evidence Relative strength 11.9/20 · Lead over its industry n/a · Lead over NIFTY 500 40.1% · 1 year 68.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.7 + 17.2 + 6.3 + 11.9 = 64.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 11. [FDC Ltd](https://www.sectoralpha.in/stocks/fdc-ltd) FDC · basing · Evidence leans up · 85% evidence 62.8 out of 100 Growth Capital Valuation Relative
12. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) CORONA · turning · Evidence leans up · 73% evidence 62.5 out of 100 Growth Capital Valuation Relative
13. [Emcure Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/emcure-pharmaceuticals-ltd) EMCURE · losing its lead · Evidence leans up · 71% evidence 61.8 out of 100 Growth Capital Valuation Relative
14. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) MANKIND · turning · Evidence leans up · 100% evidence 61.0 out of 100 Growth Capital Valuation Relative
15. [Zydus Lifesciences Ltd](https://www.sectoralpha.in/stocks/zydus-lifesciences-ltd) ZYDUSLIFE · leader · Evidence leans up · 96% evidence 58.1 out of 100 Growth Capital Valuation Relative
16. [Gufic BioSciences Ltd](https://www.sectoralpha.in/stocks/gufic-biosciences-ltd) GUFICBIO · leader · Evidence leans up · 71% evidence 56.2 out of 100 Growth Capital Valuation Relative
17. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ERIS · basing · Evidence leans up · 67% evidence 56.1 out of 100 Growth Capital Valuation Relative
18. [Strides Pharma Science Ltd](https://www.sectoralpha.in/stocks/strides-pharma-science-ltd) STAR · breaking out · Evidence leans up · 75% evidence 55.3 out of 100 Growth Capital Valuation Relative
19. [Caplin Point Laboratories Ltd](https://www.sectoralpha.in/stocks/caplin-point-laboratories-ltd) CAPLIPOINT · losing its lead · Evidence leans up · 96% evidence 54.3 out of 100 Growth Capital Valuation Relative
20. [Wockhardt Ltd](https://www.sectoralpha.in/stocks/wockhardt-ltd) WOCKPHARMA · losing its lead · Evidence leans up · 71% evidence 52.8 out of 100 Growth Capital Valuation Relative
21. [Kilitch Drugs (India) Ltd](https://www.sectoralpha.in/stocks/kilitch-drugs-indialtd) KILITCH · breaking out · Evidence leans up · 78% evidence 51.3 out of 100 Growth Capital Valuation Relative
22. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) AKUMS · leader · Evidence leans up · 71% evidence 50.9 out of 100 Growth Capital Valuation Relative
23. [Alkem Laboratories Ltd](https://www.sectoralpha.in/stocks/alkem-laboratories-ltd) ALKEM · quiet · Evidence leans down · 78% evidence 47.6 out of 100 Growth Capital Valuation Relative
24. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) APLLTD · turning · Evidence leans down · 81% evidence 46.9 out of 100 Growth Capital Valuation Relative
25. [Bajaj Healthcare Ltd](https://www.sectoralpha.in/stocks/bajaj-healthcare-ltd) BAJAJHCARE · quiet · Evidence leans down · 100% evidence 46.5 out of 100 Growth Capital Valuation Relative
26. [Lincoln Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/lincoln-pharmaceuticals-ltd) LINCOLN · quiet · Evidence leans down · 100% evidence 46.0 out of 100 Growth Capital Valuation Relative
27. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) BPLPHARMA · breaking out · Too little evidence to rank firmly · 52% evidence 45.9 out of 100 Growth Capital Valuation Relative
28. [Aurobindo Pharma Ltd](https://www.sectoralpha.in/stocks/aurobindo-pharma-ltd) AUROPHARMA · leader · Evidence leans down · 96% evidence 45.7 out of 100 Growth Capital Valuation Relative
29. [Amrutanjan Health Care Ltd](https://www.sectoralpha.in/stocks/amrutanjan-health-care-ltd) AMRUTANJAN · turning · Evidence leans down · 96% evidence 44.9 out of 100 Growth Capital Valuation Relative
30. [RPG Life Sciences Ltd](https://www.sectoralpha.in/stocks/rpg-life-sciences-ltd) RPGLIFE · losing its lead · Evidence leans down · 100% evidence 43.1 out of 100 Growth Capital Valuation Relative
31. [J B Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/j-b-chemicals-pharmaceuticals-ltd) JBCHEPHARM · Too little evidence to rank firmly · 59% evidence 42.6 out of 100 Growth Capital Valuation Relative
32. [Zim Laboratories Ltd](https://www.sectoralpha.in/stocks/zim-laboratories-ltd) ZIMLAB · leader · Evidence leans down · 71% evidence 42.2 out of 100 Growth Capital Valuation Relative
33. [Sun Pharmaceutical Industries Ltd](https://www.sectoralpha.in/stocks/sun-pharmaceutical-industries-ltd) SUNPHARMA · quiet · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
34. [Dr Reddys Laboratories Ltd](https://www.sectoralpha.in/stocks/dr-reddys-laboratories-ltd) DRREDDY · turning · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
35. [Natco Pharma Ltd](https://www.sectoralpha.in/stocks/natco-pharma-ltd) NATCOPHARM · quiet · Evidence leans down · 96% evidence 38.8 out of 100 Growth Capital Valuation Relative
36. [Bafna Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/bafna-pharmaceuticals-ltd) BAFNAPH · breaking out · Evidence leans down · 74% evidence 35.8 out of 100 Growth Capital Valuation Relative
37. [Cipla Ltd](https://www.sectoralpha.in/stocks/cipla-ltd) CIPLA · turning · Evidence leans down · 100% evidence 35.4 out of 100 Growth Capital Valuation Relative
38. [Torrent Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/torrent-pharmaceuticals-ltd) TORNTPHARM · losing its lead · Most evidence points down · 100% evidence 34.6 out of 100 Growth Capital Valuation Relative
39. [Biocon Ltd](https://www.sectoralpha.in/stocks/biocon-ltd) BIOCON · quiet · Most evidence points down · 96% evidence 34.4 out of 100 Growth Capital Valuation Relative
40. [Suven Life Sciences Ltd](https://www.sectoralpha.in/stocks/suven-life-sciences-ltd) SUVEN · quiet · Most evidence points down · 64% evidence 33.1 out of 100 Growth Capital Valuation Relative
41. [Influx Healthtech Ltd](https://www.sectoralpha.in/stocks/influx-healthtech-ltd) INFLUX · quiet · Too little evidence to rank firmly · 42% evidence 49.7 out of 100 Growth Capital Valuation Relative
42. [Syncom Healthcare Ltd](https://www.sectoralpha.in/stocks/syncom-healthcare-ltd) SYNCOM · Too little evidence to rank firmly · 17% evidence 42.3 out of 100 Growth Capital Valuation Relative
43. [Indoco Remedies Ltd](https://www.sectoralpha.in/stocks/indoco-remedies-ltd) INDOCO · losing its lead · Too little evidence to rank firmly · 49% evidence 38.4 out of 100 Growth Capital Valuation Relative
44. [Sai Parenterals Ltd](https://www.sectoralpha.in/stocks/sai-parenterals-ltd) SAIPARENT · turning · Too little evidence to rank firmly · 31% evidence 36.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Pharma - Formulators](https://www.sectoralpha.in/sectors/pharma-formulators), all 44 compared on one page. ## Which companies are close to Marksans Pharma in size? Marksans Pharma is the 22nd largest of 44 Pharma - Formulators companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: ERIS Lifesciences, Alembic Pharmaceuticals and Natco Pharma. Just below it: Corona Remedies, Akums Drugs & Pharmaceuticals and Strides Pharma Science. ### Pharma - Formulators companies close in size

1. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ₹16,044 crore
2. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) ₹15,683 crore
3. [Natco Pharma Ltd](https://www.sectoralpha.in/stocks/natco-pharma-ltd) ₹15,348 crore
4. Marksans Pharma Ltd ₹13,876 crore
5. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) ₹13,147 crore
6. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) ₹11,517 crore
7. [Strides Pharma Science Ltd](https://www.sectoralpha.in/stocks/strides-pharma-science-ltd) ₹9,851 crore

[All 44 Pharma - Formulators companies, largest first](https://www.sectoralpha.in/sectors/pharma-formulators#all-companies)

### Companies close in size in other industries

1. [National Securities Depository Ltd](https://www.sectoralpha.in/stocks/national-securities-depository-ltd) ₹14,022 crore · Finance - Capital Markets
2. [Deepak Fertilisers & Petrochemicals Corp Ltd](https://www.sectoralpha.in/stocks/deepak-fertilisers-petrochemicals-corp-ltd) ₹13,889 crore · Fertilisers
3. Marksans Pharma Ltd ₹13,876 crore
4. [Swan Defence and Heavy Industries Ltd](https://www.sectoralpha.in/stocks/swan-defence-and-heavy-industries-ltd) ₹13,861 crore · Ship - Docks/Breaking/Repairs
5. [Thangamayil Jewellery Ltd](https://www.sectoralpha.in/stocks/thangamayil-jewellery-ltd) ₹13,847 crore · Diamond, Gems & Jewellery

## What else do people ask about Marksans Pharma? ### What is Marksans Pharma's share price today? Marksans Pharma Ltd's share price is ₹315.30, +73.2% over the past year. The whole company is worth ₹14,298 Cr on the market. In the last 52 weeks it traded between ₹163 to ₹337; today it is 88% of the way up from the low, 20.4% above its 200-day average (as of 3 November 2026). ### What were Marksans Pharma's latest quarterly results? Marksans Pharma Ltd reported revenue of ₹841 Cr and net profit of ₹159 Cr for the Jun 2026 quarter. Revenue rose 35.6% and profit rose 174.1% compared with a year earlier. Earnings per share were ₹3.47. The operating margin was 25.0%, 9.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Marksans Pharma's market cap? Marksans Pharma Ltd's market capitalisation is ₹14,298 Cr at a share price of ₹315.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Marksans Pharma performing? Marksans Pharma Ltd's share price has been rising for 23 weeks. In its latest quarter, revenue rose 35.6% and profit rose 174.1% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 40 weeks running (as of 3 November 2026). ### Will Marksans Pharma's share price go up? This page does not forecast Marksans Pharma Ltd's share price. What it shows instead: the share price is ₹315.30, and it has been rising for 23 weeks. Its P/E of 27.6× is higher than 71% of its own last 11 years (as of 3 November 2026). ### Who owns Marksans Pharma? Promoters own 43.9% of Marksans Pharma Ltd, foreign institutions 19.1%, domestic institutions 5.5% and the public 31.5% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 2.3 percentage points over 8 quarters (as of 3 November 2026). ### Does Marksans Pharma have too much debt? No, Marksans Pharma Ltd has little debt: its debt is 0.11× its equity, and its operating profit is 25 times its interest bill. FY26 borrowings were ₹343 Cr against equity of ₹3,023 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Marksans Pharma in its business cycle? Marksans Pharma Ltd's FY26 operating margin was 20.0%, against a 13-year range of 6.0% to 25.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 25.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Marksans Pharma story? The main question: the share price moved +73.2% in a year while yearly earnings per share moved +9.8%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Marksans Pharma a stock worth studying right now? What the numbers show: Marksans Pharma Ltd's share price has risen faster than its earnings: +73.2% in a year, against +9.8% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Marksans Pharma share price forecast for 2026? What management itself guided: FY27 revenue growth 15-20% and operating margin 20-21% retained; 21-22% operating margin achievable by year-end, with gross margin around 55-56% viewed as sustainable. What would change the story: A sequential margin decline that takes operating margin below the formal full-year range while Europe and Teva fail to add visible revenue would show that the current earnings level was inventory- and mix-assisted rather than a durable operating change. ### Where does this page get Marksans Pharma's management information? From Marksans Pharma's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

This is research, not advice. We’re not SEBI-registered.