Mankind Pharma Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Mid Cap

Mankind Pharma Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 2406.45, up 0.33% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.29% on the day, quoting at 22503.9. The Sensex is at 74098.62, down 0.32%. Mankind Pharma Ltd has added around 3% in last one month.

Meanwhile, Nifty Pharma index of which Mankind Pharma Ltd is a constituent, has added around 1.29% in last one month and is currently quoting at 18878.15, up 0.7% on the day. The volume in the stock stood at 1.02 lakh shares today, compared to the daily average of 5.55 lakh shares in last one month.

The PE of the stock is 58.22 based on TTM earnings ending December 23.

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Mankind Pharma Ltd rose for a third straight session today. The stock is quoting at Rs 2395.3, up 1.56% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.12% on the day, quoting at 22693.5. The Sensex is at 74881.64, up 0.19%. Mankind Pharma Ltd has added around 10.77% in last one month.

Meanwhile, Nifty Pharma index of which Mankind Pharma Ltd is a constituent, has added around 0.09% in last one month and is currently quoting at 19218.85, down 0.17% on the day. The volume in the stock stood at 3.67 lakh shares today, compared to the daily average of 13.74 lakh shares in last one month.

The PE of the stock is 57.27 based on TTM earnings ending December 23.

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The Board of Mankind Pharma at its meeting held on 02 April 2024 has approved slump sale of Over the Counter business of the company to wholly owned subsidiary company proposed to be incorporated with the name of Manking Consumer Products or any other name as approved by Ministry of Corporate Affairs. The transaction will be effective on or before 01 October 2024 or such other date as may be mutually agreed between the parties, subject to customary closing conditions. The Company will continue to have business operations with the proposed incorporated entity on arm's length basis.

The Board approved incorporation of a wholly owned subsidiary by the name Mankind Consumer Products or any other name approved by Registrar of Companies, Ministry of Corporate Affairs.

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The business transfer agreement (BTA) will be executed in due course.

Revenue of OTC Business for FY23 is Rs 704 crore (8.7% of Rs 8,127 crore being revenue of the company).

The company has been evaluating its position, business strategy and exploring various options to grow the OTC Business in a more focused manner. The slump sale will enable the company to remain agile in the marketplace, build wider consumer reach and will create a stronger brand recall for the OTC Business. The company believes that rationalizing its structure will provide opportunities to enhance stakeholders' value by creating sustainable and quality OTC Business.

The slump sale will be effective on or before 1 October 2024 or such other date as may be mutually agreed between the parties.

The wholly owned subsidiary (WOS) company proposed to be incorporated with the name of Mankind Consumer Products Private or any other name as approved by Ministry of Corporate Affairs. The slump sale is proposed to be undertaken at a value which will not be less than the fair market value arrived under Rule 11 UAE of Income Tax Rules, 1962 and hence would be at arm’s length.

The proposed WOS will be incorporated with 100% subscription to initial paid up capital of Rs 5 crore in cash further investment of upto Rs 250 crore in one or more tranches as per business requirement.

Mankind Pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.

The company’s net profit jumped 59.7% to Rs 453.76 crore on 24.7% increase in net sales to Rs 2,606.96 crore in Q3 FY24 over Q3 FY23.

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