Mankind Pharma Limited — Others, 21-05-2025: Change in Auditors

Mankind Pharma has announced a board meeting to consider and approve the financial results for the quarter and half-year. The Board approved audited standalone and consolidated results for the quarter and financial year ended March 31, 2025, alongside re-appointing cost auditors and appointing secretarial auditors. Corporate guarantees were enhanced to INR 250 Cr and INR 125 Cr for two subsidiaries. The company incorporated a wholly owned subsidiary in Sri Lanka with an initial investment of USD 350,000. It completed the acquisition of Bharat Serums and Vaccines for about INR 13,768 Cr and sold its non-core subsidiary Mahananda Spa and Resorts, booking a capital gain of INR 149.85 Cr used to reduce debt. Debt instruments worth INR 10,000 Cr were issued in FY25, partly used for debt repayment. Consolidated net profit stood at INR 429 Cr, with a net debt to EBITDA ratio of 2.66x and a strong interest coverage ratio of 5.88x. Income tax proceedings are ongoing, but management expects no material impact. The pharma business remains the sole segment focused on growth and expansion.