Mankind Pharma's strong domestic leadership, increasing focus on Chronic therapies, promising Consumer Healthcare and BSV (Bharat Serums and Vaccines) vaccine portfolio along with compelling margin and return profiles, position it well for sustainable growth.
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Nirmal Bang Report
We expect Mankind Pharma Ltd.'s revenue/Ebitda/PAT CAGR of 15%/19%/17% over FY25- FY27E with Ebitda margin improvement of 133bps. Future growth strategy will revolve around:
Increased covered market presence, especially in the Chronic segment.
Improved scale in Consumer Healthcare.
Deeper penetration into Metro and Class-I cities,
Increasing doctor engagements, especially with the specialists, and
Process optimization measures in Anti-infective divisions and the acquired BSV portfolio.
We estimate healthy cumulative free cashflow generation of ~Rs 70 billion over FY26E-FY27E with low capex requirement. ROE/ROCE are expected to remain healthy at 15.2%/11.1% by FY27E.
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