MARKSANS PHARMA LIMITED (MARKSANS): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹308.75 latest close · +16.8% over the last 90 sessions

₹308.75 month-end · +64.3% over 12 months

₹308.75 month-end · +85.6% over 3 years

₹308.75 month-end · +1108.4% since Jan '19

52-week range ₹155.00 to ₹350.95 · 1-year volatility 43.4%

Was the rally earned?

1 year3 years5 years

+64%share price, 1 yearEarnings-driven

Mostly yes.

Per-share earnings added 50 points to the rise, while the multiple moved less (P/E 24.3x to 27.1x).
The share count barely moved.

Net profit growth+50 ptsNet profit rose about 47%, which lifts the price.

P/E change+14 ptsThe P/E rose from 24.3x to 27.1x, which lifts the price.

Share count change+1 ptsShare count was little changed. More shares would count against the price.

+86%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 92 points, but investors now pay less per rupee of profit (P/E 28.3x to 27.1x), which took 6 points back.
The share count barely moved.

Net profit growth+93 ptsNet profit rose about 95%, which lifts the price.

P/E change-6 ptsThe P/E fell from 28.3x to 27.1x, which lowers the price.

Share count change-1 ptsShare count was little changed. More shares would count against the price.

+448%share price, 5 yearsEarnings and multiple

Both mattered.

Per-share earnings added 180 points and the multiple added 268 points (P/E 9.8x to 27.1x).
The share count rose 9%.

Net profit growth+203 ptsNet profit rose about 117%, which lifts the price.

P/E change+268 ptsThe P/E rose from 9.8x to 27.1x, which lifts the price.

Share count change-23 ptsShare count rose 9%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-62.9%recovered 2020-06

1-year volatility43.4%annualised

Beta vs sector index1.603-year daily, correlation 0.49

Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-62.9% (2019-01 peak to 2020-03 low, recovered 2020-06)

-58.3% (2021-06 peak to 2022-06 low, recovered 2023-06)

-55.6% (2024-12 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-08-17: 7.8x the 50-day median, price -0.5% that day

2026-08-14: 12.6x the 50-day median, price +9.8% that day

2026-08-13: 6.7x the 50-day median, price -2.9% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

27.1xP/E todayWithin its usual range

Against its own history75th percentile

CheapestMedian 19.2xDearest

Usual range 9.0x to 31.2x since 2019-01.

Against Health Technology27.1x vs 37.0x

This company

27.1x

Sector median

37.0x

27% below the Health Technology median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Health Technology is valued

Where does it rank among Health Technology peers?

Each cell is the company's percentile rank among its Health Technology peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE69th▼ 4 pts vs a year ago
Op. margin77th▲ 30 pts vs a year ago
Revenue growth70th▼ 4 pts vs a year ago
EPS growth78th▲ 30 pts vs a year ago
Debt/equity ↓66th▲ 5 pts vs a year ago
Cash cycle ↓19thflat vs a year ago
P/E ↓66thflat vs a year ago
12M momentum85th▲ 73 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~25%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 44.9x, a holder earning 12%/yr needs earnings to grow about 24.5%/yr for 10 years, then trade at 15x.

Delivered34.6%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−10.1 ptsimplied minus delivered

Rank706thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	26.1%	27.2%	28.4%
15x	23.4%	24.5%	25.6%
20x	20.0%	21.0%	22.1%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 24.5%/yr

Looking back

Jan 2020Price implied 9%/yr; EPS has since grown 25%/yr (7.0 yrs)
Jan 2021Price implied 21%/yr; EPS has since grown 21%/yr (6.0 yrs)
Jan 2022Price implied 17%/yr; EPS has since grown 10%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹308.75
P/E: 27.1x
ROCE: 19.0%
Market Cap: ₹14001 cr
Revenue (TTM): ₹3171 cr
P/S: 4.4x
P/B: 4.6x
ROE: 17.1%
Operating Margin: 25.0%
Debt / Equity: 0.1x
Promoter Holding: 43.9%
12M Momentum: 64.3%

52-week range

₹155.00₹350.95

78% of the way from its 52-week low to its high

Price risk

1Y volatility

43.4%

Beta vs sector

1-year daily

1.54

Balance sheet & cash

Interest cover

operating profit ÷ interest

28.6x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.80x

Share count, 1Y

unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear

Other income reliance15%Within range

Other income as a share of pre-tax profit (trailing twelve months): 14.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 24.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.80xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.80x (cash from operations ₹895 cr, net profit ₹1,118 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+4 daysWithin range

Debtor days are above the median of the previous three fiscal years by 4 days (80 vs 76). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+2 days / 2 yrsWithin range

Days payable changed by +2 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, FIIs added 2.4 pts; DIIs added 2.2 pts.
The number of shareholders rose from 2.1 lakh to 2.5 lakh (+19%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters43.9%43.9%0.0 pts

FIIs15.1%17.5%+2.4 pts

DIIs4.0%6.2%+2.2 pts

Public and others37.1%32.5%-4.6 pts

Number of shareholders

2.5 lakhshareholders+19% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+3.0%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like MARKSANS PHARMA LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −13% to +27% vs the market, against −3% for all non-financial companies in the same months.
The gap against the base rate (+5.9%, 80% range −3.9% to +10.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 4 beyond the range shown, drawn at the edge

Similar setups' median

+3.0%

All companies' median

−2.9%

Beat the market

54% vs 47%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ECLERX Commercial Services	Jul 2021	28x	24%	+368%	0%	−10%
BSOFT Technology Services	Jun 2021	35x	22%	+347%	−2%	−12%
ELECON Producer Manufacturing	Dec 2023	44x	25%	+154%	−3%	+16%
USHAMART Producer Manufacturing	Jul 2023	29x	21%	+133%	0%	−24%
GODFRYPHLP Consumer Non-Durables	May 2024	29x	22%	+123%	−7%	+113%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
AARTIPHARM Health Technology	Jul 2025	30x	17%	+44%	−6%	−31%
NEWGEN Technology Services	Jul 2023	34x	24%	+130%	0%	+64%
KPRMILL Consumer Non-Durables	Feb 2022	42x	25%	+241%	−17%	−8%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: revenue growth, drawdown from 12-month high and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to MARKSANS PHARMA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

ECLERX SERVICESECLERX

Commercial Services

69%similar

market caprevenue growth

INTELLECT DESIGN ARENAINTELLECT

Technology Services

65%similar

revenuevolatility

KPIT TECHNOLOGIESKPITTECH

Technology Services

65%similar

market capP/E

ANANT RAJANANTRAJ

Consumer Durables

63%similar

debt/equityP/E

NRB BEARINGSNRBBEARING

Producer Manufacturing

62%similar

volatilitypromoter holding

NEULAND LABORATORIESNEULANDLAB

Health Technology

61%similar

debt/equityrevenue

NATCO PHARMANATCOPHARM

Health Technology

60%similar

operating marginrevenue

IPCA LABORATORIESIPCALAB

Health Technology

55%similar

promoter holdingoperating margin

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jun '23

2026
SepInstitutionsFII + DII holding rose 9.6 pts over 2 quarters to 23.7%.
SepPeer rankMoved into the top quartile of Health Technology on operating margin (from the 2nd quartile).
AugValuationP/E crossed above the 90th percentile of its own history to date (34.8x).
AugPriceVolume reached 29.7x its 50-day median on 2026-08-12; price +12.1% that day.
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
MayPriceVolume reached 44.3x its 50-day median on 2026-05-26; price +15.7% that day.
MarResultsYear-on-year EPS growth turned negative.

Show 22 earlier events

2026
MarPriceFell 56% from the Dec 2024 peak to the Mar 2026 low.
FebPriceVolume reached 5.6x its 50-day median on 2026-02-03; price +9.4% that day.
2025
DecInstitutionsFII + DII holding fell 4.5 pts over 2 quarters to 22.2%.
DecPeer rankMoved into the 2nd quartile of Health Technology on operating margin (from the 3rd quartile).
OctPriceVolume reached 8.1x its 50-day median on 2025-10-10; price +7.2% that day.
SepPeer rankSlipped to the 3rd quartile of Health Technology on operating margin (from the 2nd quartile).
AugPriceVolume reached 13.2x its 50-day median on 2025-08-12; price -11.1% that day.
MayValuationP/E crossed above the 90th percentile of its own history to date (32.2x).
MarPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
2024
DecInstitutionsFII + DII holding rose 4.7 pts over 2 quarters to 25.4%.
DecPeer rankSlipped to the 3rd quartile of Health Technology on EPS growth (from the 2nd quartile).
SepPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
JulPriceVolume reached 14.2x its 50-day median on 2024-07-05; price +13.2% that day.
JunResultsRevenue (TTM) reached a new high of ₹2,177 cr.
JunPeer rankSlipped to the 2nd quartile of Health Technology on ROCE (from the top quartile).
AprValuationP/E crossed above the 90th percentile of its own history to date (28.2x).
AprPriceVolume reached 16.4x its 50-day median on 2024-04-16; price +13.4% that day.
JanPriceVolume reached 5.7x its 50-day median on 2024-01-03; price +6.1% that day.
2023
NovValuationP/E crossed above the 90th percentile of its own history to date (28.3x).
NovPriceVolume reached 13.4x its 50-day median on 2023-11-09; price +6.5% that day.
JulPriceVolume reached 9.1x its 50-day median on 2023-07-12; price +8.7% that day.
JunResultsYear-on-year EPS growth turned positive.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	27.1x	₹3171 cr	17.1%	19.0%	0.1x
2026-10	26.8x	₹3171 cr	17.2%	19.0%	0.1x
2026-09	28.2x	₹3171 cr	17.2%	19.0%	0.1x
2026-08	34.8x	₹2950 cr	13.9%	19.0%	0.1x
2026-07	28.0x	₹2950 cr	13.9%	19.0%	0.1x
2026-06	29.6x	₹2950 cr	13.9%	19.0%	0.1x
2026-05	30.9x	₹2802 cr	14.7%	20.0%	0.1x
2026-04	23.2x	₹2802 cr	14.7%	20.0%	0.1x
2026-03	19.7x	₹2802 cr	14.7%	20.0%	0.1x
2026-02	22.4x	₹2730 cr	14.3%	20.0%	0.1x
2026-01	21.1x	₹2730 cr	14.3%	20.0%	0.1x
2025-12	23.2x	₹2730 cr	14.3%	20.0%	0.1x
2025-11	24.3x	₹2652 cr	14.3%	20.0%	0.1x
2025-10	23.6x	₹2652 cr	14.3%	20.0%	0.1x
2025-09	21.4x	₹2652 cr	14.3%	20.0%	0.1x
2025-08	20.1x	₹2623 cr	15.5%	20.0%	0.1x
2025-07	27.1x	₹2623 cr	15.5%	20.0%	0.1x
2025-06	31.1x	₹2623 cr	15.5%	20.0%	0.1x
2025-05	32.2x	₹2475 cr	17.9%	21.0%	0.1x
2025-04	27.0x	₹2475 cr	17.9%	21.0%	0.1x
2025-03	27.4x	₹2475 cr	17.9%	21.0%	0.1x
2025-02	26.7x	₹2379 cr	16.9%	21.0%	0.1x
2025-01	31.5x	₹2379 cr	16.9%	21.0%	0.1x
2024-12	38.7x	₹2379 cr	16.9%	21.0%	0.1x
2024-11	46.5x	₹2268 cr	16.2%	21.0%	0.1x
2024-10	39.3x	₹2268 cr	16.2%	21.0%	0.1x
2024-09	40.4x	₹2268 cr	16.2%	21.0%	0.1x
2024-08	34.6x	₹2177 cr	15.3%	21.0%	0.1x
2024-07	30.4x	₹2177 cr	15.3%	21.0%	0.1x
2024-06	22.9x	₹2177 cr	15.3%	21.0%	0.1x
2024-05	25.3x	₹1852 cr	15.2%	22.0%	0.1x
2024-04	28.2x	₹1852 cr	15.2%	22.0%	0.1x
2024-03	25.8x	₹1852 cr	15.2%	22.0%	0.1x
2024-02	25.9x	₹1852 cr	15.2%	22.0%	0.1x
2024-01	26.4x	₹1852 cr	15.2%	22.0%	0.1x
2023-12	27.4x	₹1852 cr	15.2%	22.0%	0.1x
2023-11	28.3x	₹1852 cr	15.2%	22.0%	0.1x
2023-10	18.0x	₹1852 cr	15.2%	22.0%	0.1x
2023-09	18.7x	₹1852 cr	15.2%	22.0%	0.1x
2023-08	19.2x	₹1852 cr	15.2%	22.0%	0.1x
2023-07	20.2x	₹1852 cr	15.2%	22.0%	0.1x
2023-06	15.5x	₹1852 cr	15.2%	22.0%	0.1x
2023-05	18.9x	₹1491 cr	15.6%	23.0%	0.1x
2023-04	17.9x	₹1491 cr	15.6%	23.0%	0.1x
2023-03	15.6x	₹1491 cr	15.6%	23.0%	0.1x
2023-02	15.0x	₹1491 cr	15.6%	23.0%	0.1x
2023-01	14.2x	₹1491 cr	15.6%	23.0%	0.1x
2022-12	12.9x	₹1491 cr	15.6%	23.0%	0.1x
2022-11	12.8x	₹1491 cr	15.6%	23.0%	0.1x
2022-10	10.9x	₹1491 cr	15.6%	23.0%	0.1x
2022-09	10.3x	₹1491 cr	15.6%	23.0%	0.1x
2022-08	11.6x	₹1491 cr	15.6%	23.0%	0.1x
2022-07	10.8x	₹1491 cr	15.6%	23.0%	0.1x
2022-06	9.7x	₹1491 cr	15.6%	23.0%	0.1x
2022-05	8.1x	₹1376 cr	26.9%	38.0%	0.0x
2022-04	9.3x	₹1376 cr	26.9%	38.0%	0.0x
2022-03	7.9x	₹1376 cr	26.9%	38.0%	0.0x
2022-02	8.2x	₹1376 cr	26.9%	38.0%	0.0x
2022-01	9.7x	₹1376 cr	26.9%	38.0%	0.0x
2021-12	10.4x	₹1376 cr	26.9%	38.0%	0.0x

Older months are in the live observatory.

Methodology and data notes