Mankind Pharma India records 62% surge in Q4 FY24 PAT at Rs 477cr

Mankind Pharma India, the nation’s fourth-largest pharmaceutical company, announced robust financial results for the fourth quarter and the fiscal year ending March 31, 2024. Demonstrating substantial year-over-year growth, the company’s Profit After Tax (PAT) surged by 62% to Rs 477 crores in Q4 and 48% to Rs 1,942 crores for the fiscal year.

Key Financial Highlights

In the fiscal year 2024, Mankind Pharma India achieved a noteworthy revenue milestone, generating Rs 10,335 crores, marking an 18% increase from the previous year. This significant growth was propelled by a 230% increase in exports, reaching Rs 267 crores in Q4 alone. The company also reported a solid EBITDA margin of 24.7% and a PAT margin of 18.8%, underscoring its financial robustness.

Vice Chairman & Managing Director, Mr. Rajeev Juneja, stated, “This year, we have achieved a revenue milestone of INR 10,000 Cr. and added 3 more brand families worth over INR 100 Cr, raising the total to 23. Our strong revenue growth of 18% with EBITDA and PAT margins of ~25% and ~19% respectively is supported by an increase in Chronic share to 36% and growth in Modern Trade of over 50%.”

Mankind Pharma India achieves a significant revenue milestone in FY24

Strategic and Operational Developments

Mankind Pharma’s success is attributed to strategic in-house launches and in-licensing of globally renowned products like Symbicort from AstraZeneca. The company’s chronic product portfolio was significantly enhanced, contributing to its growth. The domestic business grew by 10% YoY in Q4FY24, buoyed by strong performances in chronic therapies and a recovery in Gynaecology.

The consumer healthcare segment showed signs of recovery, benefiting from increased presence in Modern Trade, E-commerce, and Q-Commerce channels. Mankind Pharma has also diversified its consumer healthcare offerings, introducing products in the pain management and self-diagnostics categories.

Technological and Market Expansion

Mankind Pharma has implemented multiple technology-led business transformation projects across functions to boost efficiency and productivity. These initiatives lay the groundwork for the next phase of growth, especially in chronic and consumer healthcare sectors. The company continues to maintain a strong market presence, with an increased chronic share and significant gains in Cardiac and Anti-Diabetic therapies.

Future Outlook and Strategy

As Mankind Pharma continues to expand its footprint in both domestic and international markets, it remains focused on strengthening its position in chronic and consumer healthcare sectors through innovative product launches and strategic market expansion.