Mankind Pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company is one of the leading players in the domestic pharmaceuticals business, present across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, antidiabetic, neuro/CNS, VMN, and respiratory, among others, with a strategy to increase chronic presence going ahead.
Mankind Pharma is one of the **largest pharmaceutical companies in India**, focusing on the domestic market with its Pan India presence. The company has established itself as a formidable player in the Indian pharmaceutical industry, with a comprehensive portfolio spanning both prescription medicines and over-the-counter products. It is counted among the top pharmaceutical companies in India, with **23 brands in its portfolio**. Each of these 23 brands, including Manforce, Moxikind-CV, and Prega News, is valued at over ₹100 Crore.
Mankind Pharma Limited has completed the transaction to acquire **100% stake in Bharat Serums and Vaccines Limited (BSV)**, for a purchase consideration of **INR 13,768 Crores**. This landmark acquisition, completed in **October 2024**, represents a transformative milestone for the company. Mankind Pharma has acquired 100% stake in Bharat Serums and Vaccines Limited (BSV), positioning it as a **market leader in the women's health and fertility drug market** alongside access to other high entry barrier product care, including immunoglobulins, recombinant products supported by established complex R&D tech platforms.
BSV has a diverse product portfolio, including plasma derivatives, monoclonal antibodies, fertility hormones, antitoxins, antifungals, anaesthetics, cardiovascular drugs, and diagnostic products. The company has a strong R&D focus, resulting in around 15 patents granted across several countries. In FY24, its revenue stood at an impressive **₹1,723 Crore**, with year-over-year growth of 20%. Women's health sales were the top performer, contributing to **76% of domestic and 55% of overall sales**.
The company's core strength lies in its domestic pharmaceutical operations, where it has consistently outperformed the broader Indian pharmaceutical market. According to the company, its share in the domestic market increased from **4.4% in March 2024 to 4.8% as of March 2025**, primarily on account of the BSV acquisition and leadership in the gynaecology segment.
The company has transferred its Over-the-Counter (OTC) business undertaking to its wholly-owned subsidiary, Mankind Consumer Products Private Limited (MCPPL). Mankind Pharma's consumer products portfolio includes several category-leading brands such as **Manforce, HealthOK, Prega News, AcneStar, Unwanted, and Gas-O-Fast** across categories like wellness, hygiene, and personal care products.
Well-known products like Prega News, Gas-o-Fast, AcneStar, Manforce Condoms, Ring-Out, etc., are part of Mankind Pharma's OTC section. These consumer-focused products have established strong brand recognition and market presence across various healthcare and wellness categories.
On a consolidated basis, Mankind Pharma Ltd reported a profit of **₹424.65 Crore** on a total income of **₹3,333.02 Crore** for the quarter ended 2025. For the year ended 2024, Mankind Pharma Ltd had posted a profit of ₹1,941.77 Crore on a total income of ₹10,334.77 Crore.
Net profit of Mankind Pharma declined **10.71% to ₹420.77 Crore** in the quarter ended March 2025, as against ₹471.24 Crore during the previous quarter ended March 2024. Sales rose **27.13% to ₹3,079.37 Crore** in the quarter ended March 2025, as against ₹2,422.24 Crore during the previous quarter ended March 2024.
For the full year, net profit rose **4.08% to ₹1,990.96 Crore** in the year ended March 2025, as against ₹1,912.90 Crore during the previous year ended March 2024. Sales rose **18.98% to ₹12,207.44 Crore** in the year ended March 2025, as against ₹10,260.44 Crore during the previous year ended March 2024.
Mankind Pharma Ltd has a market capitalization of **₹1,01,246 Crore** (or ₹1,00,685 Crore, up 14.1% in 1 year). The company's stock has shown resilience in the market, with its share price moving up by **16.07% on BSE over the last 12 months**.
Promoter holding in Mankind Pharma Ltd has gone down to **72.70% as of March 2025** from 74.87% as of September 2024. This reduction in promoter holding is primarily attributed to the company's growth strategy and professional management structure.
The company has demonstrated strong growth momentum across its key business segments. Mankind Pharma aims to grow in **gastrointestinal and dermatology segments**, develop a novel anti-obesity drug, and enhance its women's health portfolio post-BSV acquisition. The company targets **18-20% growth from BSV products** and plans to strengthen its brand presence.
Rajeev Juneja, Vice Chairman & Managing Director, Mankind Pharma, stated, "We achieved a healthy revenue growth of 24% YoY with a strong adjusted EBITDA margin of 27.7% in Q3 FY25, driven by continued outperformance in chronic, strong recovery in OTC and consolidation of BSV."
The strategic acquisition of BSV has positioned Mankind Pharma as a comprehensive healthcare company with strong capabilities in both traditional pharmaceuticals and specialized biopharmaceuticals. The company's focus on chronic therapies, women's health, and consumer healthcare products, combined with its robust domestic presence and growing international footprint, creates a strong foundation for sustained growth in the evolving pharmaceutical landscape.
