Mankind Pharma Q4 2024 Results: Consolidated PAT increased by 62% on a YOY basis

Synopsis:

Mankind Pharma Limited announced its quarterly results for March 2024 on 15th May after market hou₹ It reported a consolidated PAT of ₹ 477 cr for Q4 FY2024. Its consolidated total revenue for Q4 FY2024 increased by 20.62% on a YOY basis reaching ₹2533.22 cr.

Quarter result performance

The company’s consolidated total revenue for Q4 FY2024 increased by 20.62% on a YOY basis, reaching ₹ 2533.22 cr from ₹ 2100.17 cr in Q4 FY2023. The quarterly consolidated revenue was down by 5.37%. Mankind Pharma reported a consolidated PAT of ₹476.59 cr for Q4 FY2024 from ₹293.69 cr in Q4 FY2023, which is an increase of 62.28%. On a quarterly basis, the consolidated PAT was up marginally by 3.65%. The company’s PAT margin stood at 18.81% against 13.98% in Q4 FY2023. EBITDA for Q4 FY2024 was ₹ 594 cr up by 42% on a YOY basis while EBITDA margin was 24.30%.

For the full financial year ending in March 2024, the consolidated PAT stood at ₹ 1941.77 cr compared to ₹ 1309.67 cr in FY 2023, up by 48.26%. For FY 2024, its consolidated total revenue stood at ₹ 10615.63 cr compared to ₹ 8877.99 cr in FY 2023. Its EBITDA margin for FY 2024 was 24.70%. The company’s cash flow from operations was up by 19% at ₹ 2152 cr while its net cash balance stood at ₹ 3260 cr.

Mankind Pharma Limited ranked fourth in terms of market rank by value of 4.5% in the March quarter for FY2024. Its Prescriber Penetration also reached 83.4% increased to 83.4% in Q4 FY 2024 compared to 81.7% in Q4 FY 2023. The company’s exports witnessed a 230% and 29% growth on YOY and QoQ basis, respectively.

Commenting on the quarterly result announcement, Mr Rajeev Juneja – Vice Chairman & Managing Director, Mankind Pharma said, “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 margin of ~25% and ~19% respectively is supported by an increase in Chronic share to 36% and growth in Modern Trade of over 50%. We have further strengthened our chronic product portfolio with strategic in-house launches coupled with in-licensing of products like Symbicort – a globally renowned inhaler from Astra Zeneca. Multiple technology led business transformation projects implemented across functions to further enhance efficiency and productivity laying the foundation for our next phase of growth.”

About Mankind Pharma Limited

Mankind Pharma Limited is a leading pharmaceutical company based in New Delhi, India. Incorporated in 1995, the company has grown to become a significant player in both the Indian and international markets. Mankind Pharma develops, manufactures, and markets a wide range of pharmaceutical formulations and consumer healthcare products