July 13, 2024
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Mankind Pharma Wants to Export Niche Products

Mankind Pharma, an Indian pharmaceutical company, is considering venturing into the export market for specialized products while maintaining its primary focus on the domestic market. The Vice Chairman, Rajeev Juneja, expressed uncertainty about the sustainability of the current pace of export growth. Despite recent robust export revenue, mainly fueled by one-off opportunities in the US, Mankind Pharma remains predominantly focused on its domestic operations, which constitute over 90% of its business.

Juneja highlighted the company’s intention to explore export opportunities for niche products, emphasizing complexity, difficulty in manufacturing, and entry barriers as key criteria for selection. The company’s export revenue has shown consistent growth, notably increasing by 154% in the nine months ending December 2023 compared to the previous fiscal year.

Regarding domestic operations, Mankind Pharma reported strong growth, particularly in chronic therapies and anti-infectives, with a 20% year-on-year increase during the third quarter. The firm’s EBITDA also witnessed a significant rise of 39% year-on-year to ₹611 crore, with a margin of 23.4% for the quarter, indicating a 240 basis points increase annually. Juneja anticipates maintaining this margin within the range of 24-26%.

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