MANKIND PHARMA, the fourth biggest player in the domestic pharmaceutical market rang the stock exchanges bell in early May this year, since then the company’s stock has been the north star rising over 23 per cent in less than four months from its listing price. The company posted handsome results for FY23 and for quarter one of FY24 with revenues rising by 12.4 per cent to Rs 8,749 crore and by 18 per cent to Rs 2,579 crore respectively. The company’s 97 per cent of revenues are generated within India.
Speaking exclusively to BW Businessworld, Rajeev Juneja, Vice Chairman and Managing Director, Mankind Pharma says the company is not focused on stock market but the attention is always on the company’s long-term growth which will keep its stock healthy. “We should be the most admired and respected company. Our ambition is to become an institution which is loved by its consumers and the rest of the metrics such as the stock market and valuation will always be a by-product,” Juneja states.
Growth In Pharma Market
Juneja believes that the Indian pharmaceutical market will be growing by 7-9 per cent in FY24. He says this growth will be mainly due to the changing epidemiology of disease patterns with rising chronic diseases. This, he states, is being caused by sedentary lifestyles, stressful times, rising air pollution and the postCovid effects on the body which are still being probed. “The population of India is also increasing, hence consumption of medicines will keep on rising,” the MD highlights.
This story is from the 21 October 2023 edition of BW Businessworld.
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This story is from the 21 October 2023 edition of BW Businessworld.
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