Mankind Pharma on Wednesday reported a 10% year-on-year (YoY) decrease in net profit to Rs 429 crore in Q4 FY24, attributed to one-time costs related to the integration of BSV.
Revenue from operations for Q4FY25 surged by 27.1% YoY to Rs 3,079 crore. The adjusted EBITDA margin for Q4FY25 was 23.1%, down 120 basis points YoY.
The company has a net debt of Rs 5,784 crore, which translates into net debt to adjusted EBITDA ratio of 1.8x.
For the full fiscal year FY25, Mankind Pharma's Profit After Tax (PAT) stood at Rs. 2,007 crore, a 3.4% rise from Rs. 1,941 crore in FY24. Revenue from operations for FY25 grew by 19% year-over-year (YoY) to Rs 12,207 crore. The company's adjusted EBITDA margin for the year improved to 25.9%, up by 130 basis points YoY.
"Mankind's revenue grew by 27% with adjusted EBITDA margins at 23% in Q4 FY25 led by continued 1.3x outperformance in Chronic, strong growth in Consumer segment and BSV consolidation," said Rajeev Juneja, Vice Chairman & Managing Director of Mankind Pharma. "In FY25, reported revenue growth was 19% with adj. EBITDA margin of ~26%." He added, "This has been a transformative year at Mankind with several strategic initiatives to ensure higher productivity and outperform IPM as seen in the past," he added.
The domestic business that accounts 83% of revenues, surpassed Rs. 10,000 crore, reaching Rs. 10,675 crore in FY25, up 13.0% YoY. For Q4 FY25, domestic revenue grew 18.1% YoY to Rs. 2,544 crore. The company's market share increased from 4.4% in March 2024 to 4.8% as of March 2025, aided by the BSV acquisition and leadership in Gynaecology.
The company also highlighted its continued outperformance in the chronic segment, growing 1.3 times versus the Indian Pharmaceutical Market's (IPM) chronic segment growth. However, Q4FY25 secondary sales growth of 6% was slightly below the IPM's 7.3%, impacted by corrective measures and BSV integration efforts. For FY25, secondary sales growth was 7.5% versus 8.0% for IPM, affected by regulatory headwinds in certain acute segment products.
The consumer healthcare business showed strong revenue growth of 14.1% YoY in Q4FY25 to Rs. 178 crore. For FY25, revenue increased by 14.6% to Rs 809 crore, supported by 77% growth in MT & E-commerce channels.
Export revenue witnessed a significant 100.4% YoY jump in Q4 FY25 to Rs. 535 crore. For the full year FY25, export revenue grew 88.4% to Rs. 1,532 crore, driven by base business growth, new launches, and the consolidation of BSV.
Juneja stated that the "BSV integration is progressing well with key focus on R&D, improving MR productivity & scaling mandate brands across domestic & International business." He further emphasized the company's strategy, "During FY25, we've laid a strong foundation to deliver long-term sustainable growth led by four key pillars - steady base business, fast growing specialty chronic, high potential OTC business, and high-entry barrier super specialty portfolio of BSV."
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