Mankind Pharma posts Q4FY23 profit at Rs 285.44 crore, revenue up 18.9%
Mankind Pharma posted revenue from operations at Rs 2052.67 crore, up 18.9 per cent as against Rs 1725.76 crore in the fourth quarter of FY22.
Mankind Pharma posted its fiscal fourth quarter profit at Rs 285.44 crore, up 50.2 per cent in comparison to Rs 190.08 crore in the same quarter last year. It posted revenue from operations at Rs 2052.67 crore, up 18.9 per cent as against Rs 1725.76 crore in the fourth quarter of FY22. The company EBITDA stood at Rs 416.7 crore, up 46.3 per cent on-year. While the total income for the quarter was at Rs 2100.18 crore, total expenses came at Rs 1725.66 crore during the fiscal fourth quarter.
“The company maintained its strong growth trajectory during the year. Our focus is on increasing the value of prescription within existing class II-IV and rural markets and increasing penetration in metros through higher chronic presence. We also plan to leverage our brand dominance to grow our consumer healthcare business, going ahead,” said Rajeev Juneja, Vice Chairman & Managing Director, Mankind Pharma.
Mankind Pharma’s performance across segments
In terms of domestic business, Mankind Pharma witnessed a growth of 18 per cent YoY in Q4FY23 and 11 per cent YoY in FY23 as against IPM growth of 14.9 per cent and 7.9 per cent respectively. The domestic business recorded volume growth of 2.6 per cent against flat IPM growth in FY23. The consumer healthcare business in domestic market, meanwhile, grew 10 per cent on-year in Q4FY23 and 17 per cent on-year in FY23. Also, four of the company’s consumer healthcare brands ranked No 1 in their categories. Mankind Pharma is focusing on increasing rural penetration in key brands like Manforce condoms and Prega News, while leveraging existing brand equity to launch brand extensions like Mankind Epic and Prega News Advance. Mankind Pharma is also making consistent investment in brand building through focused print, TV and digital campaigns.
In terms of exports business, the company registered a growth of 63 per cent YoY in Q4FY23 and 58 per cent YoY in FY23. “New integrated API/ formulation manufacturing plant is expected to be commercialized in H1FY24,” it said while adding that the company is exploring export of Dydrogesterone to key export markets.
“Our domestic business continued to outperform the IPM in FY23, led by growth in chronic segments whose share has increased to 34 per cent from 33 per cent in FY22. Our consumer healthcare business has maintained its double digit growth with dominant brand leadership in its categories,” said Rajeev Juneja.