INSTITUTE OF BUSINESS

MANAGEMENT AND
RESEARCH

A REPORT ON
“A STUDY OF FINANCIAL STATEMENT ANALYSIS
OF MANKIND PHARMA LTD”

SUBMITTED TO:
Prof. JAYRAJ

SUBMITTED BY:
PRAVALLIKA.S
MANKIND PHARMACEUTICALS LTD
 INTRODUCTION

1. Ramesh. C Juneja and Rajeev Juneja, two brothers, incorporated Mankind

pharma in the year 1991, but it actively started its operations in the year 1995.
2. The company was established with capital of ₹50,00,000.
3. Its headquarters is situated in Okhla Phase 3, Delhi.
4. Mankind started the company with 20 employees but currently there are
16000+ employees working for them.
5. Its early products included antibacterial drug Zenflox and prescription
antibiotic Moxikind CV.
6. In 2017, Mankind Pharma established Pathkind labs, a provider of diagnostics
and healthcare tests.
7. In 2019, Mankind became the first Indian company and second only in the
world to develop and launch Dydrogesterone, a drug used in high-risk
pregnancies and infertility by the brand name Dydroboon.
8. In 2022, Mankind acquired Panacea Biotec Pharma's domestic formulations
brands in India and Nepal for ₹1,872 crore
9. It then acquired a respiratory treatment product, and an infant skincare brand
from Dr. Reddy's Laboratories.
10. It also bought a majority stake in the Ayurvedic and herbal products
manufacturer, Upakarma Ayurveda.
11. In 2022, the company entered Agritech and pet care segments.
12. In May 2023, Mankind was listed in the National Stock Exchange and
Bombay Stock Exchange.
 PRODUCTS AND SERVICES

They produce products that cover chronic conditions:

Anti-infectives
Cardiovascular
Gastrointestinal
Anti-diabetic
Neuro/CNS
Vitamins/minerals/nutrients
Respiratory.

Over the counter products are:

Condoms
Pregnancy detection
Oral contraceptives
Antacid powders
Vitamin and mineral supplements
Anti-acne preparations
Artificial sweeteners
 VISION AND MISSION
◼ The vision of Mankind Pharma is to be a global pharmaceutical company, most
admired for its Affordability, Quality, and Accessibility of products.

◼ They aim to provide cost-effective, innovative, superior quality pharmaceutical

products across the globe, improving the lives of patients

◼ In their pursuit of a healthier and happier world, Mankind Pharma strives to

achieve the best quality industry standards while ensuring accessible and
affordable healthcare.

◼ Their commitment has propelled them to become India’s No. 1 company based
on prescriptions

◼ Mankind Pharma is committed to improving the quality of life and being

recognized as a reliable provider of healthcare products.

◼ Their mission is to nurture innovation that leads to collective excellence.

◼ They aim to provide cost-effective, innovative, and superior quality

pharmaceutical products across the globe, ultimately improving the lives of
patients.

◼ Mankind Pharma’s mission revolves around affordable healthcare, quality, and

patient well-being.
 AWARDS AND ACHIEVEMENTS
⚫ 2022: E4m pride of India the best of Bharat awards by exchange4media.

⚫ 2022: Branding and Marketing Excellence. The recognition was specifically for
their strategic initiative to introduce DMF Quality Drugs in India at the National
Awards for Leadership & Excellence.

⚫ 2022: EHS Best Practices Award: Mankind was honored with this award at the
Greentech International EHS Awards.

⚫ 2022: Docflix, a Mankind initiative, secured the Digital Jalebi (DJ Interactive
Solutions) award at the Maddies 2022.

⚫ 2022: Their short film titled “She Can Carry Both” won the 1st prize at the
Council for Fair Business Practices Consumer Film Festival.

⚫ 2021: the Silver Medal from the National Awards for Manufacturing
Competitiveness Assessment 2021, instituted by the International Research
Institute for Manufacturing.

⚫ 2021: honored with the Silver Award for Good Health Brand at the IHW Awards
2021.

⚫ 2018: Best Condom Brand of the Year award at the Sex Brand Awards.

⚫ 2018: Pharma OTC Company of the Year Award at the Pharma Excellence
Awards.

⚫ 2017: Award for Best Design in Healthcare at the Healthcare Leadership

Awards.

⚫ 2011: Amity HR Excellence Award for Performance Management at the 8th

Global HR Summit.

⚫ 2007: Emerging Company of the Year award at the Pharma Excellence Awards.
 Profit & Loss
(All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS MAR 2019 MAR 2020 MAR 2021 MAR 2022 MAR 2023

Net Sales 3,829.06 4,794.41 5,523.18 7,486.22 8,127.15

Total
3,124.10 3,550.47 4,151.05 5,647.73 6,429.29
Expenditure

Operating
704.96 1,243.94 1,372.13 1,838.49 1,697.86
Profit

Other Income 64.33 93.85 154.50 203.81 162.78

Interest 39.61 11.10 8.23 47.54 28.23

Depreciation 38.39 61.77 78.19 123.33 269.58

Exceptional
0 0 0 0 0
Items

Profit Before
691.30 1,264.92 1,440.21 1,871.44 1,562.84
Tax

Tax 177.26 306.70 355.83 482.01 314.58

Net Profit 514.04 958.23 1,084.37 1,389.42 1,248.26

Adjusted EPS
12.83 23.92 27.07 34.68 31.16
(Rs.)
 Balance Sheet
(All Figures are in Crores.)

PARTICULARS MAR 2019 MAR 2020 MAR 2021 MAR 2022 MAR 2023

Equity and
Liabilities

Share Capital 40.06 40.06 40.06 40.06 40.06

Total Reserves 3,024.76 3,611.39 4,694.21 6,500.39 7,743.85

Borrowings 0 0 0 0 0

Other N/C
60.60 42.84 54.11 126.98 168.12
liabilities

Current
725.15 815.77 1,078.91 2,271.27 1,419.09
liabilities

Total Liabilities 3,850.57 4,510.06 5,867.29 8,938.70 9,371.12

Assets
Net Block 767.52 939.25 981.95 2,921.30 3,136.89

Capital WIP 210.04 143.93 165.51 355.28 437.83

Intangible WIP 1.07 3.69 0.06 31.28 56.95

Investments 1,383.85 1,389.51 1,500.86 1,657.08 2,040.76

Loans &
92.80 77.60 115.59 146.30 148.86
Advances

Other N/C Assets 15.81 10.17 16.04 14.45 36.10

Current Assets 1,379.48 1,945.90 3,087.28 3,813.01 3,513.72

Total Assets 3,850.57 4,510.06 5,867.29 8,938.70 9,371.12

 Cash Flows
(All Figures are in Crores.)

PARTICULARS MAR 2019 MAR 2020 MAR 2021 MAR 2022 MAR 2023

Profit from
691.30 1,264.92 1,440.21 1,871.44 1,562.84
operations

Adjustment 32.07 137.23 96.74 -4.16 227

Changes in Assets
59.10 -168.42 -156.19 -585.61 294.21
& Liabilities

Tax Paid -245.94 -274.12 -397.38 -460.22 -285.06

Operating Cash
536.52 959.61 983.38 821.44 1,798.99
Flow

Investing Cash
-305.58 -395.68 -1,127.16 -1,360.27 -1,040.61
Flow

Financing Cash
-239.81 -558.91 88.87 578.63 -710.41
Flow

Net Cash Flow -8.87 5.02 -54.91 39.81 47.96

 PEER COMPARISION

There are 193 Peers of Mankind Pharma Ltd.

COMPANY PRICERS MCAPCR P/B P/E EPSRS ROE% ROCE% P/S EBITDA

Sun Pharma 1,558.05 3,73,828.4 15.09 385.48 4.04 7.00 7.28 17.96 58.73
Inds.

Cipla 1,453.30 1,17,334.4 4.36 35.58 40.85 10.49 14.71 7.43 21.58

Dr. Reddy''s 6,363.95 1,06,156.7 4.58 26.68 238.57 13.57 18.91 6.26 16.33
Lab

Divi''s Lab 3,645.40 96,773.92 7.47 70.96 51.37 14.82 19.31 12.69 40.89

Zydus 904.30 91,533.62 6.08 36.22 24.97 11.38 13.45 10.48 22.62
Lifesciences

Torrent 2,608.00 88,266.57 12.32 75.70 34.45 16.43 18.10 11.47 32.75
Pharma

Mankind 2,189.20 87,696.82 9.58 53.14 41.20 17.43 21.20 10.79 36.71
Pharma

Lupin 1,593.75 72,593.55 3.59 35.22 45.25 2.35 3.30 6.45 22.95

Alkem 5,423.20 64,842.49 6.09 38.67 140.26 12.54 13.17 7.16 28.62
Laboratories

Aurobindo 1,047.00 61,347.77 3.18 31.20 33.56 7.02 8.44 4.80 22.33
Pharma
Market Capital= ₹ 87,691 Cr.
Market capital is the total market value of all the company’s outstanding shares.

Current Price= ₹ 2,189.

Today’s highest(22 feb)= ₹ 2,218.80.

Today’s(22 feb) lowest= ₹ 2,180.

52-week (about 12 months) High= ₹ 2,297.

52-week (about 12 months) Low= 1,241

Face Value= ₹ 1.00

The original value of a company’s stock as written in its books of accounts and its
share certificates. Also known as par value, it is fixed when the stocks is first issued.

Book value= 210.40

The amount of money that a company’s shareholders would earn it it is liquidated and
has paid off all liabilities.

P\E Ratio(TTM)=69.12%
Price to earnings ratio is the ratio of company’s share price to its earnings per
share(EPS) it is used to determine whether a company is overvalued or undervalued.

Promoters holding share= 76.5%

ROCE= 21.17%

1 year= 21.2% 3 year= 29.07% 5year=29.25%

5 YEAR29.25%

It measures how effeciently a company is using its capital employed. The graph
here shows the ROCE% of the past 5 years andd below are the average value of
1, 3 & 5 years

ROE= 14.40 %

1 year= 17.43% 3 year= 22.65% 5year=22.69%

5 YEAR29.25%

Return on Equity (ROE) is a measure of financial performance, calculated by

dividing net income by shareholders' equity.
BUY, HOLD OR SELL?
From the above information we can see that P\E ratio is 69.12,
and promoters are 76.5% it indicates that the company shares
are going good but if we look at ROE it is 14.40% and when the
performance is seen in long term and short term there is
neutral returns. And according to analyst estimates 45% is to
BUY, 38% is to HOLD and 18% is to SELL
So as a trader I would BUY shares and I would HOLD shares if I
have already purchased because there is a estimation that the
returns are positive.