Mankind Pharma Reports PAT Growth Of 62% In Q4FY24 & 48% In FY24

Mankind Pharma, an  Indian pharmaceutical company, unveiled its financial results for the fourth quarter and full year ended March 31, 2024. In a press statement on Thursday, the company announced its achievements based on consolidated financial statements.

In Q4 FY24, Mankind Pharma reported revenue from operations of Rs 2,441 Cr, marking a notable 19 per cent year-on-year (YoY) increase. Domestic revenue stood at Rs 2,174 Cr, up by 10 per cent YoY, while exports surged by an impressive 230 per cent YoY, reaching Rs 267 Cr. The company maintained a robust EBITDA margin of 24.3 per cent and a PAT margin of 19.5 per cent. Diluted EPS saw a significant 65 per cent YoY rise, reaching Rs 11.7.

For the full fiscal year FY24, Mankind Pharma reported revenue from operations of Rs 10,335 Cr, marking an 18 per cent increase. Domestic revenue stood at Rs 9,522 Cr, up by 13 per cent, while exports witnessed a substantial growth of 175 per cent, reaching Rs 813 Cr. The company maintained a healthy EBITDA margin of 24.7 per cent and a PAT margin of 18.8 per cent. Diluted EPS saw a notable increase of 49 per cent YoY, reaching Rs 47.7. The company reported a cash flow from operations of Rs 2,152 Cr, up by 19 per cent, and ended the fiscal year with a net cash balance of Rs 3,260 Cr as of March 31, 2024.

Rajeev Juneja, Vice Chairman and Managing Director of Mankind Pharma, expressed his satisfaction with the company's performance. He highlighted the achievement of a revenue milestone of Rs 10,000 Cr and the addition of three new brand families worth over Rs 100 Cr each, raising the total to 23. He attributed the strong revenue growth to an increase in the share of chronic therapies to 36 per cent and growth in Modern Trade of over 50 per cent. He also emphasised the company's focus on strengthening its chronic product portfolio through strategic launches and in-licensing agreements.

The statement from the company further highlighted its operational highlights, including the growth of its domestic business and its focus on consumer healthcare and exports. Notably, the company witnessed a significant increase in prescriber penetration and maintained its rank as the fourth-largest pharmaceutical company in India by value market share.