Mankind Pharma Q1 Results: Rising Exports Boost Revenue, But Margin Contracts
The company posted a net profit of Rs 543 crore in the quarter-ended June, in comparison with Rs 494 crore in the year-ago period.
Mankind Pharma Ltd.'s consolidated net profit grew 9.9% in the first quarter of fiscal 2025, while margin faced a contraction by 183 basis points.
The company posted a net profit of Rs 543 crore in the quarter-ended June, in comparison with Rs 494 crore in the year-ago period, according to an exchange filing on Wednesday. Analysts tracked by Bloomberg had estimated a profit of Rs 569 crore.
Mankind Pharma Q1 FY25 Highlights (Consolidated, YoY)
Revenue up 12.2% to Rs 2,893.4 crore versus Rs 2,578.6 crore (Bloomberg estimate: Rs 2,927.4 crore).
Ebitda up 4.1% to Rs 681.8 crore versus Rs 654.8 crore (Bloomberg estimate: Rs 753.5 crore).
Margin narrows 183 bps to 23.6% vs 25.4% (Bloomberg estimate: 25.7%).
Net profit up 9.9% to Rs 543.1 crore versus Rs 494.2 crore (Bloomberg estimate: Rs 569.5 crore).
Domestic Business
Domestic revenue grew 8.9% YoY and 9.8% YoY (ex-consumer health).
The company saw secondary sales growth of 10.5% versus 8.7% IPM growth (1.2 times to IPM), supported by strong volume growth of 1.9% vs 0.4% for IPM and out-performance in chronic therapies (1.3 times to IPM chronic).
Growth was partially impacted by delayed season in anti-infectives and certain product withdrawals in Q1FY24: normalized from Q2.
The company ranked 21 by volume with a market share of 6.1% in first quarter, against 5.9% in the same period last year.
Prescriber penetration increased to 83.2% in the April-June quarter, compared to 82.7% in the first quarter of previous fiscal.
Consumer Healthcare Business
The segment saw recovery in revenue with 32% quarter on quarter increase, supported by faster growth in modern trade, e-commerce and quick commerce channels.
It consistently expanding from pregnancy care and sexual wellness to consumer wellness through the launch of Ova News, Nimulid, Rapid News etc.
The segment witnessed good traction in Ova News, which has the potential to grow as big as Prega News.
Despite heightened competition, the company's focused campaigns led to sustained leadership positioning of our key brands in their respective categories.
Exports
Exports saw 62% YoY growth in the first quarter, driven by increase in base business, and new launches.
During the quarter, company launched two new products in US taking the total launched products to 41.
Shares of Mankind Pharma closed 1.16% lower on Wednesday, as against a 0.35% rise in the benchmark Sensex.
