Mankind Pharma Q4 Results: Cons PAT jumps 50% YoY to Rs 285 crore, sales up 19%

MUMBAI - Mankind Pharma Ltd reported a 50% year-on-year (YoY) growth in consolidated net profit for the March quarter to Rs 285 crore. Revenue from operations grew nearly 19% on year to Rs 2,053 crore.

For FY23, the company reported a 11% drop in consolidated net profit to Rs 1,282 crore, despite a 12.4% growth in revenue to Rs 8,749 crore.

Mankind Pharma clocked an EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 419 crore, up by 45% YoY with margin of 20.4%

The domestic business contributed 97% to revenue from operations in FY23 with growth of 18% YoY in Q4FY23 and 11% YoY in FY23. The domestic business volumes grew 2.6% against flat IPM growth in FY23.

Chronic segment contribution during the quarter stood at 34% in fiscal year 2023, compared with 33% in FY22. The chronic segment recorded 14% YoY growth Q4 FY23.

The consumer healthcare business, meanwhile, recorded a growth of 10% YoY in the fourth quarter and 17%* YoY in FY23. The company said it is expanding retail presence of key brands like Manforce, Prega News and and Gas-o-Fast.

“The company maintained its strong growth trajectory during the year. Our domestic business continued to outperform the IPM in FY23, led by growth in chronic segments whose share has increased to 34% from 33% in FY22," said Rajeev Juneja, Vice Chairman and Managing Director, Mankind Pharma.

Mankind Pharma made its debut on the bourses recently with its Rs 4,326 crore IPO, the largest this year. The IPO, which was completely an offer for sale (OFS), received an overwhelming response, as the issue was subscribed for a whopping 15.32 times. This was primarily driven by the strong interest from qualified institutional investors.

On Tuesday, the company's shares closed 0.76% lower at Rs 1,357.15 on NSE. Since listing the stock is down 5%