Mankind Pharma Ltd. · NSE:MANKIND
Mankind Pharma — Q4 FY24 Earnings Presentation
36 slides from Mankind Pharma's earnings presentation, May 15, 2024
Slide 1: Investor Presentation Q4 & FY24
vig Mankindil> INVESTOR PRESENTATION Q4 & FY24 15 May 2024
Slide 2: Safe Harbour Statement
Safe Harbour Statement The statements, are as on date and may contain forward-looking statements like the words “believe”, “expects”, “anticipate”, “aim”, “will likely result”, “would”, “will continue”, “contemplate” “intends”, “plans”, “estimates”, “seek to”, “future”, “objective”, “projects”, “goa
Slide 3: Index
Index 03 Business Updates • Domestic Business • Consumer Healthcare Business • Export Business 01 Corporate Framework • Mankind Pharma – Key Milestones 04 Additional Information • Mankind Pharma at a Glance • Key Performance Indicators – FY24 • Key Highlights FY24 • ESG: Organization wide focus on s
Slide 4: Corporate Framework
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Slide 5: Mankind Pharma - Key Milestones
Mankind Pharma - Key Milestones Sustained Improvement in Domestic Formulations Market Share and Ranking Market Share 4th Rank 8th Rank 4.1% 4.4% 3.3% 1995 2004 2007-10 2012 2015 2018-19 2020 2021 2022 2023 2024 Successfully listed Entered into an Commenced Entered chronic Entered Set up first R&D In
Slide 6: Mankind Pharma at a Glance
Mankind Pharma at a Glance #1 Youngest #4 4 Rank in Prescriptions over Rank by value in Consumer Healthcare brands in Top 5 of the IPM* Market the last seven years* IPM* ranked #1 in their categories* Leadership INR 10,335 Crore 92% 23 16,000+ Brand families* worth FY24 Revenue FY24 Domestic Revenue
Slide 7: Key Highlights FY24
Key Highlights FY24 Crossed revenue milestone of INR 10,000 Crores INR 2,152 Crore of Cash Flow from Operations (CFO) with 18% YoY growth. with consistent CFO/ EBITDA ratio in excess of 80% in FY24. Net cash of INR 3,260 Crore as on Mar’24 Chronic share* increased by 160 bps to 36%, Net Operating Wo
Slide 8: Key Strengths
Key Strengths India revenues contribute 92% of total revenues in FY24 Focus on Focus on Net cash of INR 3,260 Cr** with consistent CFO/ domestic Strong domestic EBITDA ratio in excess of 80% during FY24 business Volume- balance sheet business with best in growth driven Consistent outperformance in v
Slide 9: Strategy Going Ahead
Strategy Going Ahead Increase the value of prescriptions in existing markets of strength by expanding market coverage; CVM moved from 62% in FY21 to 69% in FY24* Increasing share of chronic segment by growing presence in existing therapies (Diabetes - Insulin Glargine, Respiratory – Inhalers) and ex
Slide 10: Financial Performance
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Slide 11: Q4FY24 - Key Financial Snapshot
Q4FY24 - Key Financial Snapshot Financials / Capital Growth Margins Efficiency 2,441 18.9% 34.0% Revenue (INR Cr) YoY Growth ROCE* 594 / 24.3% 41.5% 28.9% EBITDA (INR Cr) / Margin YoY Growth ROE* Mr. Rajeev Juneja 477 / 19.5% 62.3% Vice Chairman & Managing Director PAT (INR Cr) / Margin YoY Growth •
Slide 12: Q4 & FY24 - P&L Highlights
Q4 & FY24 - P&L Highlights YoY QoQ YoY INR Crore Q4FY24 Q4FY23 Q3FY24 FY24 FY23 Growth Growth Growth Revenue from Operations 2,441 2,053 18.9% 2,607 (6.4%) 10,335 8,749 18.1% (A=B+C) Domestic Business (B) 2,174 1,972 10.2% 2,400 (9.4%) 9,522 8,453 12.6% Exports Business (C) 267 81 229.6% 207 29.0% 8
Slide 13: Key Financial Metrics
Key Financial Metrics ROE* ROCE* Net Cash# (INR crore) Dip on account Dip on account 3,260 of acquisition of acquisition 34% 29% 34% 31% 23% 25% 1,366 412 Mar31, Mar31, Mar31, Mar31, Mar31, Mar31, Mar31, Mar31, Mar31, 2022 2023 2024 2022 2023 2024 2022 2023 2024 Cash Flow from Operations (INR crore)
Slide 14: Business Updates
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Slide 15: Domestic Business Performance
Domestic Business Performance Strong Growth in Domestic Revenue* INR Crore 10,000 9,522 8,453 8,000 7,595 6,000 4,000 1,972 2,174 2,000 - FY22 FY23 FY24 Q4FY23 Q4FY24 • Domestic Business witnessed a growth of 10%* YoY in Q4FY24 supported by • Out-performance in chronic therapies (2.7x to IPM; 1.6x t
Slide 16: Increasing Share of Chronic Segment
Increasing Share of Chronic Segment Increased chronic share (having higher price realization and lifetime value) by 160bps in last 12 months Consistent focus to increase chronic contribution 1.6x outperformance to IPM Chronic in Q4FY24 3.2% 2.3% 1.5x 1.3x 1.4x 1.6x 1.6x 38 38 40 37 38 37 25 34 36 35
Slide 17: Q4FY24 Business Update
Q4FY24 Business Update High Ranks across Acute and Chronic Areas Q4FY24 - Sales Mix representing Diversified Therapy Presence Rank in CVM FY 20-24 CAGR 3% Key Therapy Areas (Q4FY24) 8% Mankind IPM 15% 4% Anti-Infectives Cardiovascular Chronic therapies 15% 11% Gastro Intestinal Respiratory Cardiovas
Slide 18: FY24 Business Update
FY24 Business Update Continued outperformance to IPM 1.4x outperformance to IPM chronic in FY24 8.0% 10.8% 7.6% 8.5% 38% 34% 38% 36% 14.1 13.5 3% 2% 3% 11.0 3% 9.7 5% 6% 4% 6% 2% 1% 0% -1% IPM Mankind IPM Mankind FY23 FY23 FY24 FY24 FY23 FY24 Volume Price New Introduction IPM Chronic Growth % Mankin
Slide 19: Consistently Built and Scaled Brands
Consistently Built and Scaled Brands Brand Families FY 20 FY 24 Growth New Brands1 added in FY24 >INR 50 Cr > INR 50 Crore 29 40 1.4x > INR 100 Crore 13 23 1.8x New Brands1 added in FY24 >INR 100 Cr > INR 200 Crore 7 11 1.6x INR 100+ crore brands families have increased from 13 in FY20 to 20 in FY23
Slide 20: Building Consumer Healthcare Franchise
Building Consumer Healthcare Franchise Consumer Healthcare Segment Revenue (INR Crore) 2% 692 706 589 3% 152 156 FY22 FY23 FY24 Q4FY23 Q4FY24 • Consumer Healthcare segment has showed recovery during the quarter although remained muted during the year FY24 due to • initiatives taken during the year t
Slide 21: Strong Corporate Identity Complements Brand Recall
Strong Corporate Identity Complements Brand Recall… Strategically selected national and regional brand ambassadors Corporate Brand Ambassadors Dominant Brands Consumer Healthcare Brand Ambassadors #1 Condom Brand Kartik Aaryan Sunny Leone Market Share – 30% #1 Anushka Kajal Srabanti Pregnancy Test K
Slide 22: With Targeted Marketing Initiatives
…With Targeted Marketing Initiatives Continues to leverage on Valentine’s day – Various Created “Pregapoints” with entire New video campaign titled #ApnePartnerSePucho Campaign via outdoor campaigns to emphasize thought range of Preganews right from pre #SheCanCarryBoth on Women's media; OOH along w
Slide 23: With Targeted Marketing Initiatives
…With Targeted Marketing Initiatives Launch of new Vegetarian campaign for HealthOK Gas-O-Fast - India Ki Acidity tablets specifically for Sampling activities conducted during festive vegetarian population Ka Asli Indian Solution season across few states Continue to leverage celebrity endorsement ac
Slide 24: Exports Business Update
Exports Business Update Revenue from Exports (INR Crore) 813 296 267 187 81 FY22 FY23 FY24 Q4FY23 Q4FY24 • Exports business witnessed a growth of 230% YoY in Q4FY24 and 29% QoQ, aided by one-off opportunities in the US • During the quarter, we have launched 4 new products in US taking the total laun
Slide 25: Additional Information
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Slide 26: Key Performance Indicators (as per ICDR Requirement post IPO)
Key Performance Indicators (as per ICDR Requirement post IPO) FY22 FY23 Q4FY23 Q4FY24 Revenue from Operations within India as a 97.60% 96.62% 96.07% 89.06% percentage of revenue from operations % EBITDA* (INR Million) 20,038.00 19,130.61 4,194.51 5,935.18 EBITDA Margin (%) 25.75% 21.86% 20.43% 24.31
Slide 27: ESG: Organization wide focus on sustainable growth (FY24)
ESG : Organization# wide focus on sustainable growth (FY24) Key Key Key New Best Safety Practices- Highlights Initiatives Priorities Technologies British Safety Council award for Unit-3 • 85% reduction in CO2 emissions as compared to FY23.* • 20.6% reduction in • Consistent reduction in • Bio-assay
Slide 28: ESG Goals
ESG Goals Environment* Hazardous Waste - 70% for Implementation of Wild life co-processing and 30% for Conservation plan for 2 nos Plastic Neutral in FY24** landfilling by 2027 (Base of Schedule-1 species in year FY21) Sotanala area 100% Renewable Power Reduce ground water Carbon neutral by 2030 int
Slide 29: Financials - Steady growth trajectory
Financials - Steady growth trajectory Revenue (INR Cr) Strong Growth in Domestic Revenue Revenue from Exports (INR crore) 15% 13% CAGR CAGR 81% 10,335 CAGR 9,522 813 8,749 8,453 7,782 7,595 5,865 6,214 6,028 5,789 296 186 187 76 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 F
Slide 30: Key Performance Highlights
Key Performance Highlights Key Performance Highlights FY18 FY19 FY20 FY21 FY22 FY23 FY24 Value Growth YoY in IPM (%) 11.3 12.6 12.5 11.1 17.7 10.6 8.5 Market share by Value in IPM (%) 3.9 4.0 4.1 4.3 4.3 4.4 4.4 Market Ranking by Value in IPM (x) 4 4 4 4 4 4 4 CVM share in total IPM (%) 60.2 61.6 62
Slide 31: Sales Mix Trends
Sales Mix Trends Therapy wise share in Total Revenue FY18 FY19 FY20 FY21 FY22 FY23 FY24 ANTI-INFECTIVES 17.7 15.8 15.9 13.2 14.7 15.0 15.3 CARDIAC 10.1 10.8 11.5 12.6 12.1 12.8 13.9 GASTRO INTESTINAL 12.3 11.5 11.4 11.3 10.9 10.8 10.5 RESPIRATORY 7.6 8.0 8.7 7.2 9.7 9.5 8.5 PAIN / ANALGESICS 6.0 6.4
Slide 32: Awards & Accolades FY24
Awards & Accolades FY24 The Economic Times Award 2023 1st Pharma Company which International Safety Award to Unit 3 Gold & Platinum Category Award at SJL Team clinches GOLD at Entrepreneur Of The Year Bagged Gold – imeXi 2023 from British Safety Council National SMED Competition by CII the 16th CII
Slide 33: Shareholding Pattern
Shareholding Pattern BSE Ticker 543904 1.2% 2.7% 8.6% NSE Symbol MANKIND 12.7% Market Cap. (INR Crore)* 92,165 % Free Float 25.1 Free Float Market Cap. (INR Crore) 23,152 74.9% Shares Outstanding (Crore) 40.06 Industry Pharmaceuticals Promoters FPI & Bodies Corporate Mutual Funds Retail Others Share
Slide 34: Q4 & FY24 Earnings Call Details
Q4 & FY24 Earnings Call Details Date 16 May, 2024 Time 12:00 PM IST Dial – In Details Universal Access Numbers +91 22 6280 1260 / +91 22 7115 8197 https://services.choruscall.in/DiamondPassRegistration/register?confirm Diamond Pass ationNumber=7579434&linkSecurityString=2edfe693d4 34
Slide 35: Annexures
Annexures • ROE = (Profit for the year) / (average total equity less cash) o Profit excludes interest income and gain on current investments measured at FVTPL • Adjusted ROE = (Adjusted profit for the year) / (average adjusted total equity less cash) o Profit excludes any M&A related impact, interes
Slide 36: Thank You
Thank You For more information please visit our website: https://www.mankindpharma.com For specific queries, contact: Abhishek Agarwal Investor Relations – 011 – 46846700 Ext. 3532 Investor.relations@mankindpharma.com