India's Mankind Pharma beats profit estimates on demand for drugs to treat chronic illnesses

J B Chemicals and Pharmaceuticals

21/05/2025 14:02

May 21 (Reuters) - Indian drugmaker Mankind Pharma MNKI.NS reported a fourth-quarter profit that beat analysts' estimates on Wednesday, driven by strong domestic demand for its drugs to treat long-term illnesses.

The company, which makes 'Gas-O-Fast' antacid tablets and 'Manforce' condoms, reported a 10.7% drop in consolidated net profit of 4.21 billion rupees ($49.2 million) for the quarter ended March 31.

However, that was higher than analysts' average estimates of 3.60 billion rupees, according to data compiled by LSEG.

Overall revenue climbed 27% to 30.79 billion rupees. Its domestic market share of chronic illness drugs increased to 39.2% from 37.5%.

For further earnings highlights, click nFWN3RT1IC

KEY CONTEXT

The Indian pharmaceutical market grew 7% during the quarter, led by a 9% jump in the chronic segment, according to IQVIA data.

This benefitted Mankind Pharma and its peer Torrent Pharma TORP.NS, which rely on their drugs to treat long-term conditions, such as diabetes and hypertension, for most of their sales.

Moreover, Mankind said gains from its $1.6 billion acquisition of Bharat Serums and Vaccines, further boosted results.

Torrent Pharma TORP.NS, however, missed quarterly profit estimates due to currency depreciation in Brazil.

PEER COMPARISON

Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Revenue growth (%)
Profit growth (%)
Mean rating*
# of analysts
Stock to price target**
Mankind Pharma
MNKI.NS
46.77
24.33
22.19
15.18
Buy
13
0.92
Torrent Pharmaceuticals
TORP.NS
43.64
25.54
13.07
31.19
Hold
24
0.94
Glenmark Pharmaceuticals
GLEN.NS
23.15
13.62
11.80
24.48
Buy
9
0.86
J B Chemicals and Pharmaceuticals
JBCH.NS
32.46
20.78
11.31
18.87
Strong Buy
11
0.83

 * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
 ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JANUARY TO MARCH STOCK PERFORMANCE

 -- All data from LSEG
 -- $1 = 85.5320 Indian rupees

JANUARY TO MARCH STOCK PERFORMANCE https://tmsnrt.rs/43BqTRM

 (Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))