Marksans Pharma Ltd.

Financial

	Marksans Pharma	Sanofi India	Ajanta Pharma
Operational Metrics
Pharmaceutical Sector
Number of ANDA's Filed in USA	25.0 .	n/a	76.0 .
Number of ANDA's Approved By USFDA	13.0 .	n/a	54.0 .
R&D as a % of Total Sales	1.8 %	0.0	5.0 %
Financials
5 yr Average ROE	17.94 %	43.25 %	19.25 %
5yr average Equity Multiplier	1.39	3.33	1.34
5yr Average Asset Turnover Ratio	1.07	0.57	0.75
5yr Avg Net Profit Margin	12.37 %	22.99 %	19.31 %
Price to Book	4.05	19.69	7.88
P/E	23.93	33.16	38.22
5yr Avg Cash Conversion Cycle	68.67 Days	11.11 Days	19.66 Days
Inventory Days	88.63 Days	48.47 Days	74.91 Days
Days Receivable	72.63 Days	13.83 Days	99.85 Days
Days Payable	80.34 Days	55.71 Days	219.9 Days
5yr Average Interest Coverage Ratio	27.58	1007.93	165.94
5yr Avg ROCE	23.34 %	29.56 %	24.04 %
5yr Avg Operating Profit Margin	19.5 %	28.62 %	29.77 %
5 yr average Debt to Equity	0.06	0.0	0.01
5yr CAGR Net Profit	28.35 %	41.96 %	8.73 %
5yr Average Return on Assets	12.96 %	13.01 %	14.36 %
Shareholdings
Promoter Holding	43.85 %	60.4 %	66.21 %
Share Pledged by Promoters	0.0	0.0	12.26 %
Change in Promoter Holding (3 Yrs)	-4.4 %	0.0	-4.13 %
Change in Mutual Fund Holding (3 Yrs)	4.14 %	1.86 %	5.23 %

Business

	Marksans Pharma	Sanofi India	Ajanta Pharma
Product Wise Break-Up	Product Wise Break-Up Pain Management 44.0 Cough and colds 14.0 Cardiac Science 9.2 Gastro Intestinal 8.5 Central Nervous System (CNS) 8.1 Anti - Diabetes 1.6 Vitamins & Suppliments 0 Anti-Cancer 0 Anti-Hair Fall 0 Antibiotics 0 Anti-allergic 0 Miscellaneous 0 Pharmaceuticals 0 Pharmaceutical products 0 Others 14.6	Product Wise Break-Up Cardiac Science 0 Pharmaceutical 100.0 Anti - Diabetes 0 Anti-allergic 0 Cough and colds 0 Central Nervous System (CNS) 0 Pharmaceutical products 0 Anti-Hair Fall 0 Pain Management 0 Miscellaneous 0 Gastro Intestinal 0 Anti-Cancer 0 Antibiotics 0 Vitamins & Suppliments 0	Product Wise Break-Up Cardiac Science 0 Pharmaceuticals 0 Anti - Diabetes 0 Anti-allergic 0 Cough and colds 0 Central Nervous System (CNS) 0 Pharmaceutical 100.0 Anti-Hair Fall 0 Pain Management 0 Miscellaneous 0 Gastro Intestinal 0 Anti-Cancer 0 Antibiotics 0 Vitamins & Suppliments 0
Location Wise Break-Up	Location Wise Break-Up North America 43.93 Europe 42.83 Australia 8.29 India 0 Singapore 0 Asia 0 Africa 0 USA 0 Others 4.95	Location Wise Break-Up Europe 0 Asia 0 Singapore 17.88 Africa 0 USA 0 India 81.47 North America 0 Australia 0 Others 0.65	Location Wise Break-Up Europe 0 Asia Pacific 26.43 Singapore 0 Africa 21.81 USA 22.81 India 27.87 North America 0 Australia 0 Others 1.08
Customer Segment	Customer Segment OTC 74.4 Rx 25.6	-	-