Pharma major Mankind Pharma on Thursday reported its financial results for the third quarter and nine months ended 31 st December 2024.
The company reported revenue from Operations at Rs. 3,230 Cr, up by 24% YoY and domestic revenue at INR 2,773 Cr, up 17%, Exports at INR 457 Cr, up 121% YoY. The company’s adjusted EBITDA margin of 27.7% up by 430 bps YoY and PAT margin of 11.9%.
“We achieved a healthy revenue growth of 24% YoY with strong adjusted EBITDA margin of 27.7% in Q3FY25, driven by continued outperformance in Chronic, strong recovery in OTC and consolidation of BSV. 30% YoY revenue growth in OTC business supported by strategic initiatives undertaken last year. The integration of BSV is on track, with focus on mandate brands, improving productivity and adopting best practices to ensure long term sustainable growth,” Rajeev Juneja – Vice Chairman & Managing Director, Mankind Pharma said in a statement.
He also maintained that 2024 has been a transformative year – now having multiple building blocks – steady base business, fast growing specialty chronic segment, high potential OTC business, and high-entry barrier super specialty portfolio of BSV.
According to the company’s statement, market share has increased from 4.4% in Mar-24 to 4.8% as of Dec-24 on account of BSV acquisition aided by leadership in Gynae.
Moreover, the secondary sales growth of 5.0% vs 7.4% IPM growth impacted by corrective measures adopted to enhance field force efficiency which has effected the overall growth across therapies and regulatory headwinds in certain key products in acute segment.
The company’s growth partially supported by continued outperformance in chronic growth vs IPM chronic – 1.3x in Cardiac and 1.1x in Anti-Diabetics.
In Consumer Business, the company reported strong revenue growth of 30% YoY in Q3FY25 supported by steady growth across all key brands. It also maintained strong growth in secondary sales for Manforce Condom, Gas-o-fast and HealthOk of 13%, 28% and 26% YoY respectively. The company is gaining strong traction in recent strategic launches: Manforce Epic (Premium category), Nimulid (Pain Management) etc.