Delhi-based pharmaceuticals major Mankind Pharma reported a notable financial performance for the first quarter of the fiscal year 2025 (Q1 FY25). The company achieved a 9.9% year-on-year (Y-o-Y) increase in consolidated net profit, reaching Rs 543 crore, up from Rs 494 crore in the same quarter last year. Additionally, Mankind’s revenue from operations saw a 12.2% Y-o-Y rise, climbing to Rs 2,893 crore from Rs 2,579 crore in Q1 FY24.
At the operational level, Mankind Pharma’s earnings before interest, tax, depreciation, and amortisation (Ebitda) improved to Rs 686 crore in the June quarter, compared to Rs 660 crore in the same period last fiscal year. This growth reflects the company’s robust operational efficiency and cost management strategies.
On a sequential basis, Mankind Pharma exhibited a 13.9% rise in net profit and an 18.5% increase in revenues, indicating strong momentum and consistent growth across its business segments. The company reported that its domestic business experienced an 8.9% Y-o-Y growth in the June quarter, with domestic revenue rising to Rs 2,634 crore from Rs 2,419 crore in Q1 FY24.
Mankind Pharma’s secondary sales growth was reported at 10.5%, surpassing the 8.7% growth of the Indian Pharma Market (IPM) in the June quarter. This performance was largely driven by the company’s outperformance in chronic therapies, growing at a rate of 1.3 times the IPM, and strong volume growth. The company’s prescriber penetration also improved slightly to 83.2% in Q1 FY25 from 82.7% in the same quarter last year.
Mankind Pharma’s exports business demonstrated remarkable growth, with a 62% Y-o-Y increase in the June quarter. This was attributed to the expansion of the company’s base business and successful new product launches. Rajeev Juneja, vice chairman and managing director of Mankind Pharma, highlighted that the company is now the second largest pharma company by volume, with an increase in market share of 20 basis points (bps) Y-o-Y to 6.1%, according to IQVIA.
Juneja also noted that Mankind Pharma is consistently expanding from the mass market to specialty chronic segments, leading to significant outperformance in the chronic market. The company announced the acquisition of Bharat Serums and Vaccines (BSV) in this quarter, a move that adds a super-specialty business with a high entry barrier portfolio to its operations.
Furthermore, Mankind Pharma licensed Inclisiran (a cardiac medication) from Novartis and Vonoprazan (a gastroenterology drug) from Takeda, enhancing its specialty pharmaceutical offerings. These strategic initiatives and acquisitions underscore Mankind Pharma’s commitment to diversifying its product portfolio and strengthening its position in both domestic and international markets.
Overall, Mankind Pharma’s strong financial results, strategic acquisitions, and focus on expanding its specialty chronic segments reflect its robust growth trajectory and solidify its standing in the competitive pharmaceutical industry.
