Interim report
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Marksans Pharma Ltd. 11th Floor, "GRANDEUR", Opp. Gundecha Symphony, Veera Desai Extension Road, Oshiwara, Andheri (W), Mumbai - 400 053 Tel.: +91 22 4001 2000 E-mail: companysecretary@marksanspharma.com www.marksanspharma.com February 05, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relation Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block - G Dalal Street Bandra-Kurla Complex Mumbai – 400001 Bandra (East), Mumbai - 400051 Scrip Code: 524404 Symbol: MARKSANS Sub: Outcome of Board Meeting Dear Sir/Madam, Pursuant to Regulation 33 and Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Require ments) Regulations, 2015 (“Listing Regulations”) and other regulations, if applicable, we enclose herewith the Unaudited Financial Results ( Standalone and Consolidated) of the Company for the quarter and nine months ended December 31, 2025 approved by the Board of Directors of the Company at its Meeting held today i.e. February 05, 2026 along with Limited Review Reports thereon. Pursuant to Regulation 33 of the Listing Regulations as amended, we hereby declare that M/s. M S K A & Associates LLP, Chartered Accountants, the Statutory Auditors of the Company have submitted the Limited Review Reports for Unaudited Financial Results ( Standalone and Consolidated) of the Company for the quarter and nine months ended December 31, 2025 with an unmodified opinion. The aforesaid information is also available on the website of the Company at http://www.marksanspharma.com/quarterly-results.html The meeting commenced at 12:25 p.m. and concluded at 01:15 p.m. Please be informed that the Company’s statutory auditors M S K A & Associates have converted from a partnership firm into a limited liability partnership firm. The statutory auditors will be functioning under the name and style of M S K A & Associates LLP, Chartered Accountants effective January 12, 2026. The firm remains the same in all other respects, and the new ICAI Firm Registration Number (FRN) is 105047W/W101187. We request you to note the aforesaid in your records. Thanking you. Yours faithfully For Marksans Pharma Limited Harshavardhan Panigrahi Company Secretary Enclosed as above
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MSKA & Associates LLP 502 Flor 6, Rahesa Titamium i Western Express Highway, Geetanjali (Formerly known as M S K A & Associates) R o oneaaon (€) Chartered Accountants Mumbai 400063, INDIA Tel: +91 22 6974 0200 Independent Auditor’s Review Report on Standalone unaudited financial results of Marksans Pharma Limited for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To The Board of Directors of Marksans Pharma Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results of Marksans Pharma Limited (hereinafter referred to as ‘the Company’) for the quarter ended December 31, 2025 and the year to-date results for the period from April 01, 2025 to December 31 , 2025 (‘the Statement’) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘the Regulations’). 2. This Statement, which is the responsibility of the Company’s Management and has been approved by the Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013 (‘the Act’) read with relevant rules issued thereunder (‘Ind AS 34’) and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For M'S K A & Associates LLP (Formerly known as M S K A & Associates) Chartered Accountants ICAl Firm Registration No. 105047W/W101187 fhosa Nitin Tiwari Partner Membership No.: 118894 UDIN: 26\ | 38A4PALTVO 2684 Place: Mumbai Date: February 5, 2026 Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 | LLPIN: ACT-3789 Ahmedabad | Bengaluru | Chandigarh | Chennai | Coimbatore | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Pune www.mskain
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MARKSANS PHARMA LIMITED CIN: L24110MH1992PLCOBS354 Registered Office: 11th Floor, Grandeur, Veora Desal Extension Road, Oshiwara, Andherl [West, Mumbai-d00063 Telephone No.: 022-4001 2000, Website: www.marksanspharma.com, E-mall companysecretary @marksansphama.com STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2025 (€ in million except per share data) NI ED CUARTER ENDED ENDED 31Dec 2025 | 305ep2026 | 31 Dec 2024 | 31Dec 2025 31Dec 2024 | 31 Mar2026 | o PARTICULARS (UNAUDITED) (UNAUDITED) | (UNAUDITED) | (UNAUDITED) | (AUDITED) [Revenue from operations 359720 SMBEE | 70004 | By | T7ATA 2 Other income., et (Refer note 4) 15058 307.73 76057 Se1.52 5767 3 [Total income (1+2) 38857 342638 | 1086861 9169 TrAoter [Expenses A [Costof materials consumed 151003 141273 agzms | smur| sgmm B [Purchase of stock-ntrade. 60.18 23830 & 102081 ¢ [Changes in inventories of finished goods, work-in-progress. land stock.in-rads 6176 5632 712 e.2) 698 D [Employee benefts expense (Refer Note No &) 32704 257.54 89053 101678 E [Finance costs 357 304 074 553 174 F |Depreciation and amortisaton expenss 8530 742 .75 21275 G |Oer oxpenses ss3E 6201 | 160806 70007| 224882 4 [Total Expenses 273471 26798 [ 78797 Avsz| 96002 5 [Pront Before Tax (s-4) s21.%6 T47.22| 267186 93357 | 243289 Tax Expense: (o) Current tax 19680 16858 ss0.12 39825 sta83 (6) Curret ta fo earfer paviod 1170 761 170 751 761 c) Deterrog tax 365 1642 2227 2089 2843 € [Total Tax Expense 71204 19255 58400 22678 4087 7 |Profit Aer Tax (56) s0a.1: | zosrrs| isose| daser: (Other Comprehensive income [Remms that will not be reclassified to profit or loss Remmeasurements of the net defined beneft iatikdos/assats 1240 (1.00) o095 1047 284 (402) Tax on above G.14) 02 ©24) @64) 72) 101 8 |Other Comprehensive Income. s34 To.74] o071 783 212 o] 9 [Total Comprehensive Income (7+8) Eisds 7,3 5634 | goesss| 7son4 | eragt 10 |Peid up Equty Share Capital (face value 1 each fuly pald) 45316 4sats 5316 ass1e 453161 5316 11 [ther 1338170 12 |Eamings per equiy share of 1 esch® Basic 134 220 122 481 338 415 Dilteg 134 220 122 461 333 415 “EPB Tk nol anvusod forthe quarior and e morlhs anded $1 Decarber 2025, qoarier andsd 30 2028 and quarir and nine morihs snded ST Docember 2024,
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MARKSANS PHARMA LIMITED NOTES TO STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE ‘QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2025 1 The standalone unaudited financial results for the quarter and nine months ended 31 December 2025 were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on 5 February 2026. The Statutory Auditors of the Company have carried out imited review on the above results in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (the Regulation’), as amended and expressed an unmodified conclusion. 2 The standalone unaudited financials results for the quarter and nine months ended 31 December 2025 of the Company have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013 read with relevant. rules issued thereunder and other recognised accounting principles generally accepted in India and in terms of the Regulation. 3 The Company has a single business segment. namely ‘Pharmaceuticals’ as per Ind AS 108 on ‘Operating Segments. 4 Other income (net) includes the following net foreign exchange gain/ loss), including forward contracts: . ( in million) e Quarter ended Nine Months ended Year Ended 31-Dec-25 30-Sep-25 31-Dec-24 31-Dec-25 31-Dec-24 31-Mar-25 (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | _(Audited) Net Exchange Gain/ (Loss) 117.75) 175.10| 265.38| 255.12 169.00) 194.80) 5 During the period, the Board of Directors and Shareholders of the Company had approved the Marksans Employees Stock Option Scheme 2024 ("Scheme") for the employees of the Company and its subsidiary companies comprising of equity shares of the Company, not exceeding 2,300,000 equity share of face value of % 1/- each. Under the sald Scheme, the Company has granted 400,000 equity stock options of face value of ¥ 1/- each on 24 September 2025 to the eligble employees of the Company and its Subsidiary Companes, 6 Effective November 21, 2025, the Govemment of India consolidated 29 existing labour regulatfons into four Labour codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the ‘New Labour Codes’. The New Labour Codes has resulted in increase in provision for employee benefits on account of recognition of past service costs. Based on the requirements of New Labour Codes and relevant Accounting Standard, the Company has assessed and accounted incremental impact of ¥ 28.10 million as Employee Benefits Expense in the standalone unaudited financials results for the quarter and nine months ended 31 December 2025. Upon notification of the related Rules to the New Labour Codes by the Government and any further clarification from the Government on other aspects of the New Labour Codes, the Company will evaluate and account for additional impact if any, in subsequent perfods. 7 Subsequent to the quarter ended 31 December 2025, the Company has formed and incorporated two new wholly owned subsidiarfes, viz, Marksans Pharma (Europe) Limited fn Ireland and Marksans (Canada) Inc. in Canada on 16, January 2026 and 22 January 2026 respectively. 8 The above standalone unaudited financials resuits for the quarter and nine months ended 31 December 2025 are auallable on the Companys website (www.martsanspharma.com) and stock exchanges websites, | BSE (www.bseindfa.com) and NSE {www.nseindia.com), where the shares of the Company are listed. aldanha Chairman & Managing Director DIN: 00020983 Date : 05 February 2026 : Place: Mumbat Www. marksanspharma.com
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MSKA & Associates LLP 0%, Floor , Rahea Tartum i Western Express Highway, Geetanjali (Formerly known as M S K A & Associates) Rt Cotme. R Naas ool | Chartered Accountants Mumbai 400063, INDIA Tel: +91 22 6974 0200 Independent Auditor’s Review Report on consolidated unaudited financial results of Marksans Pharma Limited for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Marksans Pharma Limited 1. We have reviewed the accompanying Statement of consolidated unaudited financial results of Marksans Pharma Limited (hereinafter referred to as ‘the Holding Company’), its subsidiaries, (the Holding Company and its subsidiaries together referred to as the ‘Group’) for the quarter ended December 31, 2025 and the year to-date results for the period from April 01, 2025 to December 31, 2025 (‘the Statement’) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘the Regulations’). 2. This Statement, which is the responsibility of the Holding Company’s Management and approved by the Holding Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ‘Interim Financial Reporting’ prescribed under Section 133 of the Companies Act, 2013 (‘the Act’) read with relevant rules issued thereunder (‘Ind AS 34’) and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’ issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicable. 4. This Statement includes the results of the Holding Company and the following entities: Sr. No Name of the Entity Relationship with the Holding Company 1 Marksans Pharma (UK) Limited | Wholly owned subsidiary 2 Relonchem Limited Wholly owned subsidiary of Marksans Pharma (UK) Limited 3 Marksans Holdings Limited Wholly owned subsidiary of Marksans Pharma (UK) Limited 4 Bell, Sons and Co. (Druggists) | Wholly owned subsidiary of Marksans Holdings Limited Limited 5 Marksans Pharma Inc. Wholly owned subsidiary 6 Time-Cap Laboratories Inc. Wholly owned subsidiary of Marksans Pharma Inc. 7 Marise Ann Inc. Wholly owned subsidiary of Marksans Pharma Inc. 8 Custom Coating Inc. Wholly owned subsidiary of Time-Cap Laboratories Inc. 9 Marksans Realty LLC Wholly owned subsidiary of Time-Cap Laboratories Inc. 10 Nova . Pharmaceuticals | Subsidiary (60% Holding) Australasia Pty Ltd Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 | LLPIN: ACT-3789 Bengaluru | Chandigarh | Chennai | Coimbatore | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Pune www.mska.i
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MSKA & Associates LLP (Formerly known as M S K A & Associates) Chartered Accountants Sr. No Name of the Entity Relationship with the Holding Company 1 Nova Pharmaceuticals Limited | Wholly owned subsidiary of Nova Pharmaceuticals Australasia Pty Ltd 12 Access Healthcare for Medical | Wholly owned subsidiary Products L.L.C 13 Marksans Pharma GmbH Wholly owned subsidiary 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The Statement includes the interim financial information of four subsidiaries which have not been reviewed by their auditors, whose interim financial information, before giving effect to the consolidation adjustments, reflects total revenue of Rs. 597.39 million and Rs. 1,831.03 million, Net profit after tax of Rs. 18.81 million and Rs. 68.57 million and total comprehensive income of Rs. 18.81 million and Rs. 68.57 million for the quarter ended December 31, 2025 and for the period from April 01, 2025 to December 31, 2025, respectively. These interim financial information have been furnished to us by the Management and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on such management prepared unaudited interim financial information. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group. Our conclusion is not modified in respect of the above matter with respect to our reliance on the financial information certified by the management. For M'S K A & Associates LLP (Formerly Known as M S K A & Associates) Chartered Accountants ICAI Firm Registration No. 105047W/W101187 el Nitin Tiwari Partner Membership No.: 118894 UDIN: 26 L1 BBALUNWBAYEATAA Place: Mumbai Date: February 05, 2026 Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 | LLPIN: ACT-3789 Ahmedabad | Bengaluru | Chandigarh | Chennai | Coimbatore | Goa | Gurugram | Hyderabad | Kochi | Kolkata | Mumbai | Pune www.mska.in
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MARKSANS PHARMA LIMITED ‘STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2025 (€in million ex equity share data) UARTER ENDED NREWONTHE DD ] YA S 31Dec 7075 | 30 Sep 2026 | 51 Dec 2024 | 310ec 2026 | 31Doc 2024 | 31 Mar 7076 3 PARTICULARS N (UNAUDITED) | (UNAUDITED) | (UNAUDITED) | (UNAUDITED) | (uNAUDITED) | _(AUDITED) 1 [Revenue from cperaions TSM2TTUT 20000 [ 681846 | 2004024 | 18,14387 | 26,2845 2 |Oterincome, pet (Refer nota 4) 20144 21572 36114 47358 50092 6329 3 [Total ncome (1+2) TH46T1 | 741981 TA7860] Fidansz] deessre| gesstre [Expenses A [Cost of materias consumed 2782 22720 vewmse| sed7| sesmds| 7502 B [Purchase of stockin-ade 20089 106141 ues2| 304677 | 4tssas| sraem ¢ [Chenges ininvectares of rished gaods, workin-progress 1 Jand stockin-rade: 15411 (2s270) @es)| (i2en| (sedn| (1evr.s0) o bonsfls expense (Refer Nots No. 6) 11980 100800 8442 314178 2508 | 350209 £ [Financa costs 5935 58,15 2667 17814 8225 116,60 £ [Depreciation and amortisation expense 2627 26316 20688 74344 06,41 83385 G [Oter expenses. 166472 163522| qeasea| apesez| 43| seera 4 [Total Expenses 620947 | Gos6d7| Byarui| ratezs| tarmsos| Fiaszer 5 [Profit Betore Tax (34) 160624 | 1335341 1avaee] se0eer] ssreza| — Goseer [Tax Expense: (@) Curront tax 38050 35057 7233 s4415 0%z | y212m2 (0) Curren tax for ot period 1017 - 781 10.17 781 1308 (c) Deterred tax (5033) (16.62) 178 (50.07) (g353) (12.42) 6 [Total Tax Expense 36834 34195 5152 85526 85080 | 21548 7 [Profit Aner Tax (5-5) 743630 98138 | osuer| Triose| zstewa| sasmde [Other Comprohensive Income [kems that will not be reclassified to profit or loss [Remeastraments of the et defined beneft Kabitestassets 1248 (1.00) 095 1047 204 “02) Tax on above (a.14) 028 (0:26) (254) (©72) 101 [[ems that wil be roctassified ta profit or loss: [Foreign curency iransiaton reserve 18279 6841 8080)| 121425 21354 48345 8 [other hensive Income 19213 36467 (80,09 1.22208 21656 an04r] 9 [Total Comprehensive Income (7+8) 132003 36608 67058 [ 3.59240 313460430856 Net Profi aiributabe to:. [Owners of tho Company 113202 82250 | 104563| 260270 200081 sp0875 [Non-Controling terests 488 889 504 1282 1863 2044 [Other Comprehensive Income sttrbutabe to:- |Owers o the Gompany 187.24 5369 @7 times 2195 48473 [Non-Cortroling nlerests: 480 1008 (@138) X (629) (@26 [Total Comprehensive Income attrbutabio to:- [owners of the G 131928 1310 esms2| apores| maz2zs| 420048 [Non-Coniroling iterests s 1087 (16:34) w075 1234 1618 10 [Paid up Equiy Shere Cepital (face vaiue €1 cach fuly paid) 5316 45218 4sate 45316 45318 45316 11 [other equty 22155 12 [Eamings per equiy shere of ¢ each® Basiq 250 217 231 595 640 840 231 5 ado 840 250 a7 5 " EPSIsnot musiied for he quarar andrine morths anded 31 December 2025, quarer ended 30 Seplemoer 2025 and uider and s Fom e saded 1 Deeemeeo
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MARKSANS PHARMA LIMITED NOTES TO CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31 DECEMBER 2025 1 The consolidated unaudited financial results for the quarter and nine months ended 31 December 2025 were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on 5 February 2026, The Statutory Auditors of the Company have carried out limited review on the above results in terms of Regulation 33 of the SEBI (Usting Obligation and Disclosure Requirements) Regulations, 2015 (the Regulation'), as amended and expressed an unmodified conclusion. The consolidated unaudited financals results for the quarter and nine months ended 31 December 2025 of the Company have been prepared fn accordance with the recognition and measurement principles lafd down i the Ingian Accounting Standard 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013 read with relevans fules Issued thereunder and other recognised accounting principles generally accepted i India and in temms of the Regulation. The Group has a single business segment namely ‘Pharmaceticalsas per Ind AS 108 on ‘Operating Segments. Other fncome (net) includes the following net foreign exchange gain/ (loss), including forward contracts: (R in million) Description Quarter ended Nine Months ended Year Ended 2 31-Dec-25 30-Sep-25 31-Dec-24 31-Dec-25 31-Dec-24 31-Mar-25 (Unaudited) (Unaudited) (Unaudited) {Unaudited) {Unaudited) (Audited) Net Exchange (Gain/ (Loss) 118.12) 173.7¢| 264.72 252.95) 167.61 193.12 During the period, the Board of Directors and Shareholders of the Holding Company had approved the Marksans Employees Stock Option Scheme 2024 ('Scheme’) for the employees of the Group comprising of equity shares of Holding the Company, not exceeding 2,300,000 equity share of face value of % 1/- each. Under the said Scheme, the Holding Company has granted 400,000 equity stock options of face value of X 1/- each on 24 September 2025 o the eligible employees of the Group. Effective November 21, 2025, the Government of India consolidated 29 existing labour regulations fnto four Labour codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Soclal Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the "New Labour Codes', The Subsequent to the quarter ended 31 December 2025, the Company has formed and ncorporated two new wholly owned subsidiaries, viz. Marksans Pharma (Europe) Limited in Ireland and Marksans (Canada) Inc. in Canads on 16 January 2026 and 22 January 2026 respectively. The above consolidated unaudited financials results for the quarter and nine months ended 31 December 2025 are available on the Company's website (www.marksanspharma.com) and stock exchanges websites, BSE {www.bseindia.com) and NSE (www.nseindia.com), where the shares of the Company are listed. (Ganha Chairman & Managing Director DIN: 00020983 Date : 05 February 2026 Place: Mumbai Www. marksanspharma.com