Mankind Pharma IPO

Mankind Pharma IPO – important insights before investing

Mankind Pharma IPO Company Overview– The company filed Draft Red Herring Prospectus (DRHP) with market regulator SEBI on September 15, 2022, for an Initial public offering (IPO). Mankind Pharma Limited is coming up with an Offer for Sale (OFS) of 40,058,844 Equity Shares with a face value of INR 1 for each equity share.  The company may open this IPO before December 2022. Promoters and shareholders of the company are selling a part of their stake in the company through public issues.

What is Mankind Pharma Limited Brand?

Mankind Pharma Limited was incorporated as ‘Mankind Pharma Private Limited’ in Delhi, India on July 3, 1991. On April 13, 2006, the company changed its name to “Mankind Pharma Limited”.  The registered and corporate office – ‘Mankind Pharma Limited’ address – is 208, Okhla Industrial Estate, Phase-III, New Delhi 110 020, Delhi, India; Tel: +91 11 4747 6600.

  • Mankind Pharma Limited is the fourth largest pharmaceutical company in terms of Domestic Sales in FY 2022 in India.
  • Its brand name “Mankind” is a well-recognized brand in India. Some other brands of the company are “Manforce”, “PregaNews”, and “GasOfast” which are also well recognized in Indian households.
  • The company manufactures and sells a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas.
  • Mankind Pharma is also engaged in several consumer healthcare products.
  • The company has one of the largest distribution networks in the IPM with 11,196 medical representatives and 3,195 field managers, as of March 31, 2022.
  • Mankind Pharma Limited was awarded the “Silver Award for Good Health Brand” in 2021 by The India Health & Wellness Awards and the Best of Bharat Award by Pride of India in 2022.
  • The company operates 23 manufacturing facilities across India.

Mankind Pharma Products

Mankind Pharma Limited manufactures products that are well diversified across leading therapeutic and nutraceutical areas. The company is a market leader in a few products. The company captures 80% of the market of “PregaNews” in FY 2022. Nurokind brand is one of the best products in the vitamins segment that includes Nurokind LC, Nurokind Gold, and Nurokind Plus-RF which is used for treating chronic fatigue syndrome and vitamin deficiencies. Manforce is another leading brand in the pharma market in India.

  • Mankind Pharma Limited products can primarily be categorized as below:
  • Anti-infective
  • Cardiovascular
  • Gastrointestinal
  • Vitamins/minerals/nutrients
  • Respiratory
  • Anti-diabetic
  • Dermatology
  • Gynecology
  • Pain/analgesics
  • Neuro/CNS

Mankind Pharma Limited Founders and Leadership team

The company is run by experienced Promoters and a qualified senior management team with significant experience in the pharmaceuticals business.

  • Mr. Ramesh Juneja is the founder chairman and Whole-Time Director of the company. He has over 31 years of work experience in the pharmaceutical industry.
  • Mr. Rajeev Juneja is the promoter Vice Chairman and Managing Director of the company. He has over 29 years of experience in the pharmaceutical industry.
  • Mr. Sheetal Arora is the promoter, Chief Executive Officer and Whole-time Director of the company. He has over 14 years of experience in the pharmaceutical industry.
  • Mr. Arjun Juneja is the Chief Operating Officer of the company. He is instrumental in the management, operations, and growth of the Company.

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Mankind Pharma Limited Revenue and profits

The company reported strong revenue from operations of INR 58,652.34 million, INR 62,144.31 million, and INR 77,815.55 million, respectively for the financial years 2020, 2021, and 2022. Mankind Pharma’s business mostly depends on domestic business which contributes 97% of the total revenue. Mankind Pharma Limited reported a profit of INR 10,561.48 million, INR 12,930.34 million, and INR 1 4,529.56 million for the financial years 2020, 2021, and 2022 respectively.

Domestic Sales of the company grew at a CAGR of approximately 16% from

INR 60,647 million in FY 2020 to INR 82,198 million in FY 2022. Manforce brand had Domestic Sales of approximately INR4,511 while Prega News brand had Domestic Sales of approximately INR 1,529 million in 2022. 

Mankind Pharma IPO Details

Mankind Pharma Limited has been registering strong EPS over the years. The parameters such as the return on equity, ROCE, net cash flow, and profit margin are looking strong over the years.  Refer to the table below for all the details valuation parameters. Looking at the numbers below one can invest in the company’s IPO if the floor price is affordable according to the valuation.

Mankind Pharma IPO Details – Financial Snapshot

All amounts in INR Million except percentages
(Year ended March 31)
202020212022
Revenue from Operations58,652.34 62,144.3177,815.55
Total Income59,756.54 63,853.8079,775.84
Profit After Tax for the Year10,561.48 12,930.3414,529.56
PAT (%) of Total Revenue18.01% 20.81%18.67%
EBITDA20,038.00 16,597.8014,483.46
EBITDA (%) of Revenue from Operations25.75% 26.71%24.69%
Return on Equity31.75% 30.30%25.99%
Return on Capital Employed25.50% 30.41%35.86%
Net Debt / Equity0.8
Earnings Per Share-Diluted (in INR)25.72 31.5935.78
Net Cash from Operating Activities10,697.05 11,372.449,197.76

Mankind Pharma Limited Peers

Mankind Pharma is a leading player in the pharmaceutical market in India. Hence, the main competitors within India include leading pharmaceutical companies operating in similar therapeutic areas and product categories, such as Alkem Laboratories Limited, Abbott India Limited, Aristo Pharmaceuticals Private Limited, Cipta Limited, Eris Lifesciences Limited, Intas Pharmaceuticals Limited, Ipca Laboratories Limited, J. B. Chemicals & Pharmaceuticals Limited, Lupin Limited, etc.

The company also faces competition from multinational companies such as GlaxoSmithKline Pharmaceuticals Limited, AstraZeneca PLC, Boehringer Ingelheim, Janssen Pharmaceuticals, Merck & Co., Inc., Novartis AG, Pfizer Inc., Procter & Gamble Health Limited, Sanofi S.A. and Viatris Inc.

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Mankind Pharma IPO Details: 9 insights you need to know

  • Mankind Pharma Limited is one of the leading companies with three well-recognized brands in India.
  • Largest domestic formulation business in India with Domestic Sales of approximately INR82,198 million during the Financial Year 2022.
  • Fasted growing company in acute therapeutic areas and chronic segment in the pharma market in India.
  • Strong product portfolio with expanding its business with new product innovation with a focus on chronic therapeutic areas.
  • As of March 31, 2022, the company had over 600 scientists with a dedicated R&D center with three units located in IMT Manesar, Gurugram, Haryana.
  • The global formulation market is approximately US$ 1.3 trillion in FY 2022 and is expected to grow at a CAGR of 5% over the next five years.
  • Indian Pharmaceutical Market (IPM) is approximately INR 1.9 trillion in Financial Year 2022 and is expected to grow at a CAGR of 11% over the next five years.
  • Mankind Pharma Limited is one of the top ten players in the IPM segment in India with a diversified portfolio of products across leading therapeutic areas
  • All the above factors with recovery in the Indian economy, increasing healthcare expenditure, and government focus on wellness and healthcare will further boost Mankind Pharma Limited’s top line.
  • I would invest in Mankind Pharma IPO as a long-term investor. Other details of this IPO such as IPO date, IPO price, and floor price have not yet been declared.

Mankind Pharma IPO Details

Mankind Pharma IPO DetailsDetails
Mankind Pharma IPO launch DateComing soon
Mankind Pharma IPO Price bandComing soon
Mankind Pharma IPO Allotment dateComing soon
Refunds Initiation dateComing soon
Credit of Shares to Demat AccountComing soon
Listing DateComing soon
Fresh IssueNil
Offer for Sale40,058,844 Equity shares
Equity Shares outstanding prior to the Offer400,588,440 Equity Shares
Minimum bid (lot size)   Coming soon
Minimum bid (Amount)                                                    Coming soon
Face ValueINR 1 per share
Listing on BSE & NSE

Suggested Readings

We endeavor to help you to understand different aspects of a company before you invest in the company’s IPO. Here are some suggested readings on company insights BIBA Fashion Limited IPO, Keystone Realtors Ltd IPO, Mankind Pharma IPO.

Mankind Pharma Corporate Office and Lead Managers

Contact DetailsLead Managers
262, Okhla Industrial Estate
Phase-III,
New Delhi 110020,
Delhi, India
+91 11 4684 6700
investors@mankindpharma.com
www.mankindpharma.com
1. Kotak Mahindra Capital
Company Limited
2. Axis Capital Limited
3. IIFL Securities Limited
4. Jefferies India Private Limited
5. J.P. Morgan India Private Limited

Mankind Pharma IPO Allotment Status

Mankind Pharma IPO allotment will be available on KFin Technologies website. To know your allotment status, get ready with your PAN number and click on this link.

Mankind Pharma IPO GMP

DateMankind Pharma IPO GMP IPO Price

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