Mankind Pharma, India’s fourth-largest pharmaceutical company, has announced its financial results for the first quarter ending June 30, 2024.

The company’s consolidated financial statements reveal a notable increase in performance, with revenue from operations rising to INR 2,893 crore, marking a 12% year-on-year (YoY) growth. Domestic revenue contributed INR 2,634 crore to this figure, reflecting a 9% YoY increase, while export revenue surged to INR 259 crore, representing a 62% YoY increase.

Mankind Pharma achieved an EBITDA margin of 23.7%, with an adjusted EBITDA margin of 25.2%, and a PAT margin of 18.8%. The diluted EPS stood at INR 13.4, showing a 10% YoY growth.

The company’s performance highlights its strong financial position and operational efficiency, despite a slight decrease in the EBITDA margin compared to the previous quarter.

In its domestic market, Mankind Pharma saw revenue growth of 8.9% YoY, and an increase of 9.8% when excluding certain product changes.

The company's secondary sales grew by 10.5%, surpassing the industry growth rate of 8.7%. This growth was supported by robust volume increases and strong performance in chronic therapies. Mankind Pharma maintained a 6.1% market share and a 15.3% prescription share, continuing its position as the #1 ranked company in the sector for the past seven years. The company also experienced an increase in prescriber penetration to 83.2%.

In the consumer healthcare segment, revenue grew significantly by 32% quarter-on-quarter. The company has expanded its product range from pregnancy and sexual wellness to broader consumer wellness categories, with new products like Ova News showing promising potential. Despite increased competition, Mankind Pharma’s focused campaigns have sustained the leadership position of its key brands.

The export segment saw a remarkable 62% YoY increase in revenue, driven by growth in base business and new product launches. During the quarter, Mankind Pharma introduced two new products in the US market, bringing its total to 41.

The consolidated financial results for the quarter showed a revenue from operations of INR 2,893 crore, up by 12.2% YoY. Gross margins improved to 71.9%, an increase of 370 basis points from the previous year. EBITDA for the quarter reached INR 686 crore, reflecting a 4.0% YoY increase. PAT was INR 543 crore, a 9.9% YoY increase. The cash EPS for the quarter stood at INR 16.1, up by 12.1% YoY.

Segmental revenue breakdown revealed that domestic revenue was INR 2,634 crore, showing an 8.9% YoY increase. Consumer healthcare revenue was INR 206 crore, with a 0.9% decrease YoY but a 32% increase QoQ. Export revenue reached INR 259 crore, up by 61.9% YoY.

Mankind Pharma’s results underscore its strong performance and growth across both domestic and international markets, setting a solid foundation for the remainder of FY25. The company remains committed to expanding its product offerings and maintaining its leadership position in the pharmaceutical industry.