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Mankind Pharma Q1 PAT drops 17.4% despite 24% revenue growth, costs surge
Despite the PAT decline, revenue from operations grew significantly—by 24 per cent YoY—to Rs 3,570 crore from Rs 2,867 crore in Q1 FY25.
At the operating level, earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to Rs 850 crore in the quarter under review, compared to Rs 675 crore a year ago. The adjusted EBITDA margin improved slightly to 23.8 per cent from 23.6 per cent in the corresponding period last year.
Rajeev Juneja, vice chairman and managing director of Mankind Pharma, said the growth in revenue and margins was driven by strong performance in the chronic and consumer healthcare segments, and by the consolidation of Bharat Serums and Vaccines (BSV), acquired in October 2024 for Rs 13,768 crore.
A key drag on the bottom line was finance costs, which rose sharply to Rs 170.65 crore in Q1FY26—17 times higher than Rs 10.84 crore in Q1FY25—largely due to financing related to the BSV acquisition.
Mankind Pharma said its chronic therapies business outperformed the Indian Pharma Market (IPM) by 1.4x, with cardiac and antidiabetics segments growing 1.5x and 1.6x faster, respectively. Domestic business revenue rose 18.9 per cent YoY to Rs 3,101 crore.
The consumer healthcare segment posted a 15 per cent increase in revenue, led by consistent secondary sales growth for key brands such as Manforce condoms and Gas-O-Fast.
The company's exports segment recorded a strong 81 per cent YoY growth, supported by a ramp-up in base business and integration of BSV's global operations.
Mankind Pharma announced its results post-market hours. Its stock closed marginally lower by 0.28 per cent at Rs 2,567.75 per share on the Bombay Stock Exchange (BSE) on Thursday.
The company remains optimistic about sustaining momentum in both chronic therapies and consumer brands, while continuing to integrate BSV's operations for long-term value creation.
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