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Press Release > Mankind Pharma PAT grew by 29% in Q2FY25

Mankind Pharma PAT grew by 29% in Q2FY25

Dais World | 05/11/2024 09:54 PM

Mankind Pharma (BSE: 543904 | NSE: MANKIND), India’s fourth largest pharmaceutical company, today announced its financial results for the second quarter and six months ended 30th September 2024. The information mentioned in this release is based on consolidated financial statements.

Mr. Rajeev Juneja, Vice Chairman & Managing Director, said, "We are pleased to report steady revenue growth of 13.6% YoY with strong EBITDA margins of 27.7%, driven by recovery in volume, continued outperformance in chronic segment and operating leverage. OTC business has been carved out to a WOS of Mankind Pharma. From Q3, this business has embarked on the journey towards its next phase of growth. Our acquisition of BSV, perfectly aligns with our vision to expand into high entry barrier portfolio with #1 player in the gynaecology segment, leadership in certain critical care products and further enhance our R&D capabilities. Multiple growth levers – resilient base business, fast growing specialty chronic segment, high potential OTC business, and high-entry barrier super specialty portfolio of BSV. Together, these levers will propel our growth journey ahead."

Q2 FY25 Performance Summary

Revenue from Operations at INR 3,077 Cr, up by 14% YoY
- Domestic revenue at INR 2,796 Cr, up 11% YoY; Exports at INR 281 Cr, up 57% YoY
Reported EBITDA margin of 27.7% and PAT margin of 21.4%
Diluted EPS of INR 16.3, up by 30% YoY (FV Re.1)

H1 FY25 Performance Summary

Revenue from Operations at INR 5,970 crore, up by 13% YoY
- Domestic revenue at INR 5,430 crore, up 10% YoY; Export at INR 540 crore, up 59% YoY
Reported EBITDA margin at 25.8%, up by 14% YoY with Adj. EBITDA margin of 26.5% and PAT margin of 20.1%
Diluted EPS of INR 29.7, up by 20% YoY (FV Re.1)

Domestic Business

Secondary sales growth of 8.6% vs 8.0% IPM growth (1.1x to IPM) supported by
- Strong outperformance of 3.4x volume growth to IPM
- Strong outperformance of 1.3x in chronic growth vs IPM chronic and 1.6x vs IPM
Growth partially impacted by
- Regulatory headwinds in certain key products in acute segment
- Certain initiatives adopted towards field force optimisation to further enhance efficiency
Ranked 2nd by volume with a market share of 5.9% in Q2FY25 vs 5.8% in Q2FY24
Consistently maintained #1 rank over last 7 years with prescription share of 15.4% in Q2FY25
Prescriber Penetration increased to 83.5% in Q2FY25

Consumer Healthcare Business

Strong revenue growth of 20% YoY in Q2FY25 propelled by steady growth in key brands like Manforce, Gas-o-fast, and HealthOk further aided by faster growth in Modern Trade, E-commerce and Q-Commerce channels
Strong growth in secondary sales for Manforce, Gas-o-fast and HealthOk of 15%, 28% and 27% YoY respectively
Gaining strong traction in recent strategic launches: Manforce ThinX and Epic (Premium category), Nimulid (Pain Management) etc.
With a focus on consistently increasing accessibility, Nimulid is now available in ~1,00,000 stores, Manforce Epic in 25,000+ select stores, and Ovanews is available in 15,000 A+ stores.

Exports

Revenue growth of 57% YoY driven by increase in our base business supported by new launches in last 12-24 months.
During the quarter, we have launched 1 new product in US taking the total launched products to 42.

About Mankind Pharma

Mankind Pharma (BSE: 543904 | NSE: MANKIND is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence. Mankind operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company is a leading player in the domestic pharmaceuticals business present across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, antidiabetic, neuro/CNS, VMN and respiratory, among others with a strategy to increase chronic presence going ahead. In the consumer healthcare business, the company operates in the condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories, among others, with several category-leading brands. The company has 28 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products. Mankind has a consistent track record of product innovation through 6 dedicated R&D facilities backed by more than 600 scientists.