Mankind Pharma Q2 FY25 Earnings: ₹3,077 Crore Revenue, 57% Export Growth

On November 5, 2024, Mankind Pharma, India’s fourth-largest pharmaceutical company, announced its financial results for the second quarter and the first half of the fiscal year ending September 30, 2024. 

Q2 FY25 Performance Summary

Mankind Pharma reported revenue from operations of ₹3,077 crore in Q2 FY25, a 14% year-on-year increase. This included ₹2,796 crore from domestic revenue, which grew 11%, and ₹281 crore from exports, up 57% compared to last year. The company’s EBITDA margin was 27.7%, and its PAT margin stood at 21.4%. The diluted earnings per share (EPS) rose by 30% to ₹16.3, based on a face value of Re.1.

H1 FY25 Performance Summary

For the first half of FY25, Mankind Pharma’s revenue from operations reached ₹5,970 crore, growing by 13% year-on-year. Domestic revenue contributed ₹5,430 crore, a 10% rise, while exports brought in ₹540 crore, reflecting a 59% increase. The reported EBITDA margin was 25.8%, up 14% year-on-year, with an adjusted EBITDA margin of 26.5% and a PAT margin of 20.1%. Diluted EPS increased by 20% to ₹29.7 (FV Re.1).

Domestic Business Highlights

Mankind Pharma achieved 8.6% growth in secondary sales, outpacing the Indian Pharmaceutical Market (IPM) growth of 8.0%. This was driven by a volume growth of 3.4 times that of IPM. The company also saw 1.3 times growth in the chronic segment compared to IPM chronic growth and 1.6 times growth relative to the overall IPM. Growth was slightly impacted by regulatory issues affecting some key acute products and certain initiatives to optimise the field force for better efficiency. 

Mankind Pharma ranked second by volume in Q2 FY25, with a market share of 5.9%, up from 5.8% in Q2 FY24. For the past seven years, it has maintained its #1 rank in prescriptions, with a 15.4% prescription share in Q2 FY25. The company’s prescriber reach also increased to 83.5% during this quarter.

Consumer Healthcare Business

Mankind Pharma’s consumer healthcare segment saw a robust revenue growth of 20% in Q2 FY25, driven by steady demand for key brands like Manforce, Gas-o-fast, and HealthOk. Strong sales in modern trade, e-commerce, and quick-commerce channels further boosted growth. Secondary sales for Manforce, Gas-o-fast, and HealthOk increased by 15%, 28%, and 27% year-on-year. 

Exports

Export revenue grew by 57% year-on-year, driven by an increase in core business and supported by recent launches over the past 12 to 24 months. In the U.S. market, Mankind Pharma launched one new product this quarter, bringing its total U.S. product offerings to 42.

About Mankind Pharma

Mankind Pharma is one of India’s largest pharmaceutical companies, with a strong focus on the domestic market and a nationwide presence. The company operates in both pharmaceutical formulations and consumer healthcare, aiming to deliver high-quality products at affordable prices.

On November 6, 2024, Mankind Pharma shares opened at ₹2,874.00 and touched the day high of ₹2,874.00 at 09:40 AM.

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