Mankind Pharma Ltd.
MANKINDHealthcare filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
14 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 14 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20230606 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230808 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231107 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240207 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240522 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240806 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241111 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250130 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250527 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250806 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251111 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260209 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260526 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260804 | 2026-06-30 | yes |
MANKIND
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 2,500.00 |
| 52-week range | 1927.4 – 2617.9 |
| Return 1M | 5.71% |
| Return 3M | 1.53% |
| Return 1Y | -1.17% |
| Return 3Y | 43.47% |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 4,031.00 |
| Other income | 45.00 |
| Total income | 4,076.00 |
| Cost of materials consumed | 685.00 |
| Purchases of stock-in-trade | 547.00 |
| Changes in inventories | -134.00 |
| Employee benefit expense | 914.00 |
| Finance costs | 110.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.73 | -0.00 |
| institutions foreign | 0.09 | -0.01 |
| institutions domestic | 0.15 | 0.01 |
| mutual funds | 0.11 | 0.01 |
| public | 0.27 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 14 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,053.00 | 2,579.00 | 2,708.00 | 2,607.00 | 2,441.00 | 2,893.00 | 3,077.00 | 3,230.00 | 3,570.00 | 3,697.00 | 3,567.00 | 3,443.00 | 4,031.00 |
| Other income | 48.00 | 59.00 | 60.00 | 70.00 | 92.00 | 101.00 | 109.00 | 77.00 | 80.00 | 92.00 | 73.00 | 114.00 | 45.00 |
| Total income | 2,100.00 | 2,637.00 | 2,768.00 | 2,677.00 | 2,533.00 | 2,994.00 | 3,186.00 | 3,307.00 | 3,650.00 | 3,789.00 | 3,640.00 | 3,557.00 | 4,076.00 |
| Cost of materials consumed | 462.00 | 487.00 | 474.00 | 457.00 | 436.00 | 473.00 | 462.00 | 536.00 | 586.00 | 594.00 | 553.00 | 555.00 | 685.00 |
| Purchases of stock-in-trade | 198.00 | 351.00 | 363.00 | 353.00 | 342.00 | 433.00 | 424.00 | 387.00 | 405.00 | 413.00 | 412.00 | 498.00 | 547.00 |
| Changes in inventories | 13.00 | -18.00 | -12.00 | 18.00 | -41.00 | -93.00 | -11.00 | 12.00 | 63.00 | 55.00 | 13.00 | -95.00 | -134.00 |
| Employee benefit expense | 496.00 | 553.00 | 572.00 | 568.00 | 582.00 | 634.00 | 646.00 | 710.00 | 783.00 | 825.00 | 824.00 | 752.00 | 914.00 |
| Finance costs | 5.00 | 6.00 | 9.00 | 9.00 | 9.00 | 11.00 | 7.00 | 221.00 | 171.00 | 170.00 | 157.00 | 142.00 | 110.00 |
| Depreciation and amortisation | 85.00 | 87.00 | 96.00 | 110.00 | 105.00 | 108.00 | 106.00 | 192.00 | 219.00 | 222.00 | 223.00 | 223.00 | 226.00 |
| Other expenses | 466.00 | 551.00 | 629.00 | 605.00 | 531.00 | 765.00 | 705.00 | 755.00 | 887.00 | 888.00 | 846.00 | 803.00 | 963.00 |
| Total expenses | 1,726.00 | 2,017.00 | 2,131.00 | 2,119.00 | 1,964.00 | 2,330.00 | 2,339.00 | 2,813.00 | 3,113.00 | 3,167.00 | 3,028.00 | 2,878.00 | 3,310.00 |
| Profit before exceptional items and tax | 375.00 | 620.00 | 638.00 | 558.00 | 569.00 | 664.00 | 847.00 | 494.00 | 537.00 | 622.00 | 612.00 | 679.00 | 766.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -107.00 | -23.00 | 0.00 |
| Profit before tax | 375.00 | 620.00 | 638.00 | 558.00 | 569.00 | 664.00 | 847.00 | 494.00 | 537.00 | 622.00 | 506.00 | 656.00 | 766.00 |
| Current tax | 89.00 | 145.00 | 162.00 | 71.00 | 115.00 | 139.00 | 168.00 | 158.00 | 111.00 | 125.00 | 154.00 | 193.00 | 211.00 |
| Deferred tax | -6.00 | -14.00 | -32.00 | 31.00 | -20.00 | -14.00 | 22.00 | -45.00 | -15.00 | -21.00 | -59.00 | -93.00 | -15.00 |
| Tax expense | 84.00 | 130.00 | 130.00 | 103.00 | 95.00 | 125.00 | 190.00 | 113.00 | 96.00 | 104.00 | 95.00 | 100.00 | 195.00 |
| Profit for the period | 294.00 | 494.00 | 511.00 | 460.00 | 477.00 | 543.00 | 659.00 | 385.00 | 445.00 | 520.00 | 414.00 | 559.00 | 574.00 |
| Profit attributable to owners | 285.00 | — | 501.00 | 454.00 | 471.00 | 536.00 | 653.00 | 380.00 | 438.00 | 512.00 | 409.00 | 554.00 | — |
| Profit attributable to non-controlling interests | 8.00 | — | 10.00 | 6.00 | 5.00 | 7.00 | 5.00 | 4.00 | 6.00 | 9.00 | 5.00 | 5.00 | — |
| Other comprehensive income | 4.00 | -3.00 | -2.00 | 6.00 | -8.00 | -3.00 | -2.00 | 11.00 | -1.00 | 23.00 | 6.00 | 29.00 | -20.00 |
| Total comprehensive income | 298.00 | 491.00 | 509.00 | 466.00 | 468.00 | 540.00 | 657.00 | 395.00 | 444.00 | 543.00 | 420.00 | 588.00 | 554.00 |
| Earnings per share, basic | 7.13 | 12.15 | 12.51 | 11.33 | 11.76 | 13.39 | 16.31 | 9.45 | 10.62 | 12.39 | 9.90 | 13.44 | 13.76 |
| Earnings per share, diluted | 7.13 | 12.14 | 12.49 | 11.31 | 11.74 | 13.37 | 16.28 | 9.44 | 10.60 | 12.38 | 9.89 | 13.41 | 13.74 |
Annual results, as filed
| Line | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Revenue from operations | 8,749.00 | 10,335.00 | 12,207.00 | 14,278.00 |
| Other income | 129.00 | 281.00 | 537.00 | 359.00 |
| Total income | 8,878.00 | 10,616.00 | 12,744.00 | 14,636.00 |
| Cost of materials consumed | 1,814.00 | 1,854.00 | 2,016.00 | 2,288.00 |
| Purchases of stock-in-trade | 809.00 | 1,410.00 | 1,656.00 | 1,728.00 |
| Changes in inventories | 291.00 | -54.00 | -183.00 | 36.00 |
| Employee benefit expense | 1,918.00 | 2,275.00 | 2,692.00 | 3,184.00 |
| Finance costs | 44.00 | 34.00 | 429.00 | 639.00 |
| Depreciation and amortisation | 326.00 | 398.00 | 621.00 | 886.00 |
| Other expenses | 2,017.00 | 2,315.00 | 3,008.00 | 3,424.00 |
| Total expenses | 7,219.00 | 8,231.00 | 10,240.00 | 12,186.00 |
| Profit before exceptional items and tax | 1,659.00 | 2,384.00 | 2,504.00 | 2,451.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | -130.00 |
| Profit before tax | 1,659.00 | 2,384.00 | 2,504.00 | 2,321.00 |
| Current tax | 328.00 | 493.00 | 596.00 | 583.00 |
| Deferred tax | 34.00 | -35.00 | -86.00 | -188.00 |
| Tax expense | 362.00 | 458.00 | 510.00 | 395.00 |
| Profit for the period | 1,310.00 | 1,942.00 | 2,011.00 | 1,938.00 |
| Profit attributable to owners | 1,282.00 | 1,913.00 | 1,986.00 | 1,913.00 |
| Profit attributable to non-controlling interests | 28.00 | 29.00 | 20.00 | 25.00 |
| Other comprehensive income | -2.00 | -8.00 | -8.00 | 57.00 |
| Total comprehensive income | 1,308.00 | 1,934.00 | 2,003.00 | 1,995.00 |
| Earnings per share, basic | 32.00 | 47.75 | 49.28 | 46.35 |
| Earnings per share, diluted | 32.00 | 47.68 | 49.19 | 46.28 |
Balance sheet, as filed
| Line | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Total assets | 9,715.00 | 11,098.00 | 11,963.00 | 13,982.00 | 27,760.00 | 28,813.00 | 28,080.00 |
| Non-current assets | 5,285.00 | 5,357.00 | 5,313.00 | 5,368.00 | 20,582.00 | 20,522.00 | 20,937.00 |
| Current assets | 4,427.00 | 5,739.00 | 6,648.00 | 8,611.00 | 7,175.00 | 8,288.00 | 7,140.00 |
| Property, plant and equipment | 2,524.00 | 2,942.00 | 2,932.00 | 2,916.00 | 2,908.00 | 2,926.00 | 2,960.00 |
| Capital work-in-progress | 493.00 | 159.00 | 207.00 | 224.00 | 306.00 | 394.00 | 655.00 |
| Goodwill | 20.00 | 20.00 | 20.00 | 20.00 | 6,493.00 | 6,493.00 | 6,493.00 |
| Other intangible assets | 1,701.00 | 1,640.00 | 1,588.00 | 1,553.00 | 9,604.00 | 9,391.00 | 9,168.00 |
| Inventories | 1,498.00 | 1,534.00 | 1,553.00 | 1,679.00 | 2,094.00 | 1,972.00 | 2,144.00 |
| Trade receivables | 576.00 | 1,057.00 | 848.00 | 1,272.00 | 1,538.00 | 1,901.00 | 1,730.00 |
| Cash and cash equivalents | 305.00 | 253.00 | 382.00 | 727.00 | 407.00 | 328.00 | 392.00 |
| Total equity and liabilities | 9,715.00 | 11,098.00 | 11,963.00 | 13,982.00 | 27,760.00 | 28,813.00 | 28,080.00 |
| Equity | 7,623.00 | 8,634.00 | 9,576.00 | 10,789.00 | 14,568.00 | 15,529.00 | 16,561.00 |
| Equity share capital | 40.00 | 40.00 | 40.00 | 40.00 | 41.00 | 41.00 | 41.00 |
| Other equity | 7,395.00 | 8,388.00 | 9,323.00 | 10,525.00 | 14,291.00 | 15,245.00 | 16,259.00 |
| Total liabilities | 2,092.00 | 2,465.00 | 2,387.00 | 3,193.00 | 13,191.00 | 13,285.00 | 11,518.00 |
| Non-current liabilities | 229.00 | 336.00 | 268.00 | 299.00 | 7,528.00 | 6,187.00 | 5,011.00 |
| Current liabilities | 1,863.00 | 2,128.00 | 2,120.00 | 2,894.00 | 5,664.00 | 7,098.00 | 6,507.00 |
| Borrowings, non-current | 28.00 | 29.00 | 33.00 | 27.00 | 5,540.00 | 4,208.00 | 2,893.00 |
| Borrowings, current | 142.00 | 151.00 | 175.00 | 455.00 | 2,971.00 | 4,160.00 | 3,419.00 |
| Trade payables | 1,008.00 | 1,113.00 | 1,103.00 | 1,519.00 | 1,133.00 | 1,301.00 | 1,341.00 |
Cash flow, as filed
| Line | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 1,813.00 | 969.00 | 2,152.00 | 1,139.00 | 2,413.00 | 1,637.00 | 3,121.00 |
| Net cash from investing activities | -1,054.00 | -1,015.00 | -2,082.00 | -1,035.00 | -12,683.00 | -1,168.00 | -196.00 |
| Net cash from financing activities | -740.00 | -7.00 | 5.00 | 241.00 | 10,290.00 | -549.00 | -2,953.00 |
| Purchase of property, plant and equipment | 789.00 | 204.00 | 315.00 | 211.00 | 461.00 | 271.00 | 626.00 |
| Net increase in cash | 22.00 | -51.00 | 77.00 | 345.00 | 22.00 | -76.00 | -12.00 |
| con:CFO.BEFORE_TAX | 2,136.00 | 1,148.00 | 2,632.00 | 1,376.00 | 2,980.00 | 1,853.00 | 3,714.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 323.00 | 179.00 | 480.00 | 237.00 | 567.00 | 216.00 | 593.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 10.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 6.00 | 8.00 | 8.00 | 5.00 | 12.00 | 2.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 4.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | -6.00 | 3.00 | 7.00 | 7.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-20 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 76.50 | 76.50 | 76.50 | 74.88 | 74.87 | 74.87 | 72.71 | 72.71 | 72.70 | 72.68 | 0.73 | 0.73 | 0.73 | 0.73 |
| Domestic institutions | 4.64 | 4.56 | 9.79 | 11.14 | 9.95 | 9.90 | 11.02 | 11.06 | 11.48 | 11.50 | 0.12 | 0.13 | 0.14 | 0.15 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 7.34 | 0.08 | 0.09 | 0.10 | 0.11 |
| Insurance companies | 0.55 | 0.50 | 1.94 | 2.17 | 2.14 | 2.34 | 2.28 | 2.21 | 2.23 | 2.24 | 0.02 | 0.01 | 0.01 | 0.02 |
| Foreign institutions | 4.18 | 4.18 | 6.74 | 9.87 | 11.58 | 12.37 | 13.35 | 13.34 | 12.92 | 13.07 | 0.13 | 0.11 | 0.10 | 0.09 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | — | — | — | — |
| Public | 23.50 | 23.50 | 23.50 | 25.12 | 25.13 | 25.13 | 27.29 | 27.29 | 27.30 | 27.32 | 0.27 | 0.27 | 0.27 | 0.27 |
| Non-institutional | 14.68 | 14.76 | 6.97 | 4.11 | 3.61 | 2.86 | 2.92 | 2.90 | 2.90 | 2.75 | 0.03 | 0.03 | 0.03 | 0.03 |
| Shares outstanding | 400588440 | 400588440 | 400588440 | 400588440 | 400635138 | 400644138 | 412566899 | 412566899 | 412578527 | 412728748 | 412758490 | 412805072 | 412828328 | 412995978 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Lifestar Pharma LLC | Holding-Subsidiary | Any other transaction, Sale of goods or services | 3,957,215,000.00 | 9 |
| Copmed Pharmaceuticals Private Limited | Holding-Subsidiary | Any other transaction, Purchase of goods or services | 2,506,582,000.00 | 37 |
| Pharma Force Lab | Holding-Subsidiary | Any other transaction, Investment, Purchase of fixed | 1,548,728,000.00 | 52 |
| Mankind Agritech Private Limited | Holding-Subsidiary | Any other transaction, Purchase of fixed assets, Sal | 1,012,184,000.00 | 15 |
| Relax Pharmaceuticals Private Limited | Holding-Subsidiary | Any other transaction, Purchase of fixed assets, Pur | 957,411,000.00 | 35 |
| Mankind Consumer Product Private Limited | Holding-Subsidiary | Any other transaction, Investment | 896,275,000.00 | 5 |
| Mediforce Healthcare Private Limited | Holding-Subsidiary | Any other transaction, Purchase of goods or services | 717,460,000.00 | 34 |
| Penta Latex LLP | Holding-Subsidiary | Any other transaction, Purchase of goods or services | 715,453,000.00 | 8 |
| Sirmour Remedies Private Limited | Holding-Associate | Any other transaction, Purchase of goods or services | 559,833,000.00 | 31 |
| Next Wave (India) | Holding-Others | Any other transaction, Purchase of goods or services | 533,803,000.00 | 7 |
| J K Print Packs | Holding-Associate | Any other transaction, Investment, Purchase of goods | 428,014,000.00 | 36 |
| Shree Jee Laboratory Private Limited | Holding-Subsidiary | Any other transaction, Purchase of fixed assets, Pur | 416,596,000.00 | 18 |
| Om Sai Pharma Pack | Holding-Others | Any other transaction, Interest received, Purchase o | 324,931,000.00 | 9 |
| Medipack innovations Private Limited | Holding-Subsidiary | Any other transaction, Purchase of goods or services | 316,366,000.00 | 13 |
| Mankind Pharma FZ LLC | Holding-Subsidiary | Any other transaction, Sale of goods or services | 300,840,000.00 | 5 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-04 | Q1FY27 | AND WHOLE-TIME DIRECTOR, MANAGING DIRECTOR, MARKETING, OFFICER | Read the call |
| 2026-05-26 | Q4FY26 | AND WHOLE-TIME DIRECTOR, MANAGING DIRECTOR, MARKETING, RELATIONS | Read the call |
| 2026-02-09 | AND WHOLE-TIME DIRECTOR, MANAGING DIRECTOR, MARKETING, STRATEGY | Read the call | |
| 2025-11-11 | H1FY26 | AND WHOLE-TIME DIRECTOR, MANAGING DIRECTOR | Read the call |
| 2025-08-06 | Q1FY26 | AND WHOLE-TIME DIRECTOR, DIRECTOR | Read the call |
| 2025-05-27 | FYFY25 | AND WHOLE-TIME DIRECTOR, MANAGING DIRECTOR, MARKETING, Mankind!!/~, Mankind/II• | Read the call |
| 2025-01-30 | DIRECTOR, J~$#e,, Mankind/1/JJ., WHOLE-TIME DIRECTOR | Read the call | |
| 2024-11-11 | H1FY25 | Read the call | |
| 2024-08-06 | Q1FY25 | AND WHOLE-TIME DIRECTOR, MANAGING DIRECTOR, OFFICER | Read the call |
| 2024-05-22 | Q4FY24 | Read the call | |
| 2024-02-07 | Q3FY24 | Read the call | |
| 2023-11-07 | Q2FY24 | DIRECTOR, EQUITIES, OFFICER, WHOLE-TIME DIRECTOR | Read the call |
| 2023-08-08 | Q1FY24 | DIRECTOR, MANKIND PHARMA LIMITED, MANKIND PHARMA LIMITED, OFFICER, MANKIND PHARMA LIMITED | Read the call |
| 2023-06-06 | Q4FY23 | EQUITIES | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY25 | Q1FY26 | Q1FY27 | Q2FY24 | Q3FY24 | Q4FY23 | Q4FY24 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | What is the Capex and timeline for that? | — | — | — | Last year, we have incurred the capex, both CWIP plus the capitalized part of close to INR832 crores. | The total CapEx spending for FY’24 was at INR389 crores, which is less than 4% of the total revenue. | So this approval is towards incurring the capex in the coming year. |
| Capital allocation | My second question, on the BSV deal, the 16% growth that we had mentioned, right, adjusted for their acquisition and COVID. | Okay, for the acquisition-related debt repayment, we have scheduled Rs. | On the cash EPS number that you are sharing of around INR19 for the quarter, that excludes the entire depreciation and amortization or just the acquis… | My question is the acquisition you are taking, is it on debt or is it fully cash? | Would you attribute the strength in the hospital segment, the organized part which Rajeev ji mentioned to the Panacea acquisition? | The thought process is very-very clear that after the successful acquisition of Panacea, looking out for other M&As as well and feel, whenever the opp… | And what kind of size of acquisition you're looking at? | More importantly, our organic growth, excluding OTC, stood at 10.1%, the highest level since the BSV acquisition. |
| Costs | So we would say that 70% would be the fair assumption to assume it around 70% level because 1.6%, which is coming from the input cost savings, that's … | — | And this inventory level, which was high, was it because of high raw material prices, anything which you all have witnessed during the quarter? | — | — | So we'll be producing the KSM, the raw material to KSM, then to the intermediate, finished API, then the finished formulation at one integrated facili… | Like the last year, we understood that the raw material prices had gone up. | Tushar, you cannot deny that some kind of a disruption is there as far as the raw materials are concerned, packaging material is concerned, and excipi… |
| Debt and cash | On the BSV deal as well, the enterprise value of INR13,630 crores, if you can provide what is the net debt or net cash on BSV at the time of acquisiti… | — | So one question on this net working capital. | While we have strong cash flow, but are we kind of looking for bigger targets or would it be more tuck-in, then what would be our comfort level with d… | — | And second question is on the cash flows. | These initiatives are aimed at improving automation and digitization of processes across functions to further enhance our operational productivity and… | The net operating working capital days as at 31st March 2026 is 52 days as compared to 50 days as at 31st March 2025. |
| Demand | — | And we believe that whenever there is a demand, we always keep one thing in mind, long-term, never the short-term. | We highlighted that there is a lot of demand creation that is happening for large brands and these are specialist brands like Anti-D, Foligraf others. | If you can talk about that in terms of what is the pipeline, we are expected to see over the next 12 months or so? | However, saying that it has no correlation to our sales in India, I mean we were able to cater to the domestic demand in India through our existing pl… | — | At the same time, there are certain products in the pipeline, which give us some more confidence that this particular division will do good, mid-teens… | Our performance this quarter reflects not only healthy demand momentum, but also the resilience of our business model, the strength of our brands and … |
| Guidance | So we expect it to normalize in the coming quarters. | Just wanted actually to understand your guidance in terms of how those older segments may end up facing any headwinds in terms of growth. | And we have given guidance of high double-digit growth, which is high teens. | — | And it should come back barring the product mix changes, etc., we expect this to reverse, right? | You mentioned cost impact of API of 130 bps. How much of that has been recovered in the second half and what is the outlook for fiscal ‘24? | The R&D expenses for the year are at INR223 crores, which is 2.2% of the revenue, is in line with our guidance of 2% to 2.5% of sales. | So my question is, I would like to understand some of the moving parts of your growth guidance in India. |
| Margin | One question on the EBITDA margin, which you disclosed adjusted EBITDA margin at 25.2%. | The next question that I had was on the consumer healthcare business where, while there has been very strong growth, you've seen a sharp decline of 2%… | And my second question is on the gross margin. | Are price increases largely a contributor to that quarter-on-quarter gross margin improvement? | Just one bit on the sequential compression in the gross margin. | You gave an elaborate bridge of gross margin as well as EBITDA margin impact. | EBITDA grew significantly by 42% year-on-year to INR594 crores, with EBITDA margin over 24% and PAT grew by 62% year-on-year to INR477 crores. | In quarter 4, our overall revenue increased by 11.8% year-on-year to INR3,443 crores with adjusted EBITDA margin of 27.1%. |
| People | — | So, what is the capacity utilization over there? | Could you give us some metrics around attrition and around share gains or sort of outperforming certain therapies, sub-therapies that you've seen from… | — | So, 10% was the underutilization factor. | And if I look at the capacity utilization across our plant is also meaningfully low, like formulation would be close to 40%, API would be close to 40%… | — | First question for Rajeev sir, on some of the disruption that we had witnessed in FY '26 in some of our teams, and we had done a lot of hiring and the… |
| Pricing | And sir, just the last question of our growth, how much is pricing? | — | So the price increase impact has not flown into the financial because of the good inventory level. | — | So, basically, going into next year, we will see WPI to be on the lower side, price hike we will get on the NLEM side. | So we undertook the price increase in the Q2 and full impact of this cost pressure has been recovered by Q4 and in the next year FY ‘24, so this is ge… | Firstly, it's a full year price increase, has provided a benefit of 1.4%. | But any price hikes would be like what you have taken normally in the last few years? |
| Revenue growth | So we have given a growth of around 17%. | You said domestic business organic growth was 10%. | I remember last year when we started, we spoke about 18%, 20% growth on BSV, whereas actual growth was about 5%, 6% and largely coming from export and… | I don’t know if you have already explained it, but please explain that why in acute it is lower than the market, and even in chronic, slide #14, you a… | First one is on our reported growth of around 22% for the domestic prescription business. | And if you look at the IPM growth of FY '23, it was 8%. | On an annual basis as well, the company reported a strong revenue growth of 18%, increasing the revenue to INR10,335 crores. | The growth was primarily driven by strong growth of 57% year-on-year in modern trade and e- commerce channels. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2026-05-26 | Q4FY26 | AND WHOLE-TIME DIRECTOR | Or should we expect higher price hikes, maybe closer to the 10% range that is allowed? |