Marksans Pharma Limited (MARKSANS.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-65.5%

₹108.40

vs ₹314.10 price

Levered DCF

₹212.08

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	17.02×	26.42×	22.83×	10.98×	10.09×	8.57×	4.86×	13.17×
P/B	2.35×	4.08×	3.47×	1.68×	1.55×	2.31×	0.89×	1.96×
P/S	2.41×	3.83×	3.29×	1.58×	1.26×	1.49×	0.5×	1.08×
EV / EBITDA	11.3×	18.69×	13.75×	6.69×	5.41×	5.4×	2.62×	8.49×
Gross margin	39.2%	56.4%	50.7%	50.3%	49.5%	54.8%	49.7%	47.6%
Operating margin	17.1%	43.0%	17.8%	16.2%	34.9%	40.1%	15.1%	11.1%
Net margin	14.2%	14.5%	14.4%	14.4%	12.5%	17.4%	10.7%	8.1%
Current ratio	5.17×	4.62×	4.78×	4.91×	3.37×	3.02×	2.69×	2.28×
Debt / equity	0.11×	0.13×	0.12×	0.07×	0.09×	0.04×	0.05×	0.18×
Interest coverage	20.92×	96.81×	34.59×	32.85×	61.21×	68.64×	19.46×	11.32×
Dividend yield	0.5%	0.3%	0.3%	0.3%	0.6%	0.2%	5.2%	0.4%
Payout ratio	8.7%	7.1%	7.2%	3.8%	5.7%	1.7%	24.4%	5.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.8%	15.4%	15.2%	15.3%	15.4%	26.9%	19.0%	14.8%
Return on invested capital	11.1%	30.4%	12.3%	12.4%	28.8%	45.3%	18.7%	12.9%
Return on assets	10.8%	11.7%	11.7%	12.2%	11.3%	19.4%	13.5%	10.0%
Free cash flow yield	4.9%	0.3%	0.3%	6.3%	2.8%	6.5%	26.4%	1.3%
Earnings yield	5.9%	3.8%	4.4%	9.1%	9.9%	11.7%	21.2%	7.6%
Enterprise value	₹68.2B	₹98.8B	₹70B	₹26.6B	₹16.3B	₹18.7B	₹5.1B	₹11.3B
Net debt / EBITDA	-0.48×	-0.33×	-0.31×	-0.65×	-0.78×	-0.52×	-0.33×	0.51×
Cash conversion cycle (days)	209	248	196	183	207	212	163	200