Mumbai, India, 24 Jan, 2025: Mankind Pharma (BSE: 543904 | NSE: MANKIND) India’s fourth largest pharmaceutical Company today announced its financial results for the third quarter and nine months ended 31st December 2024. The information mentioned in this release is based on consolidated financial statements.

Mr. Rajeev Juneja – Vice Chairman & Managing Director

We achieved a healthy revenue growth of 24% YoY with strong adjusted EBITDA margin of 27.7% in Q3FY25, driven by continued outperformance in Chronic, strong recovery in OTC and consolidation of BSV.

30% YoY revenue growth in OTC business supported by strategic initiatives undertaken last year.

The integration of BSV is on track, with focus on mandate brands, improving productivity and adopting best practices to ensure long term sustainable growth.

2024 has been a transformative year – now having multiple building blocks – steady base business, fast growing specialty chronic segment, high potential OTC business, and high-entry barrier super specialty portfolio of BSV.

Q3 FY25 Performance Summary

• Revenue from Operations at INR 3,230 Cr, up by 24% YoY
  • Domestic revenue at INR 2,773 Cr, up 17%, Exports at INR 457 Cr, up 121% YoY
• Adjusted EBITDA margin of 7% up by 430 bps YoY and PAT margin of 11.9%
• Diluted EPS of INR 4 down by 17% YoY (FV Re.1)

9M FY25 Performance Summary

• Revenue from Operations at INR 9,200 crore, up by 17% YoY
  • Domestic revenue at INR 8,203 crore, up 12%, Export at INR 997 crore, up 83% YoY
• Adjusted EBITDA margin of 26.9% up by 210 bps YoY and PAT margin of2%
• Diluted EPS of INR 1, up by 9% YoY (FV Re.1)

Domestic Business

• Market share has increased from 4.4% in Mar-24 to 4.8% as of Dec-24 on account of BSV acquisition aided by leadership in Gynae ( 1 in IPM)
• Secondary sales growth of 5.0% vs 4% IPM growth impacted by
  • Corrective measures adopted to enhance field force efficiency which has effected the overall growth across therapies
  • Regulatory headwinds in certain key products in acute segment
• Growth partially supported by
  • Continued outperformance in chronic growth vs IPM chronic – 3x in Cardiac and 1.1x in Anti-Diabetics

• Consistently maintained 1 rank over last 7 years with prescription share of 4%
• Prescriber Penetration increased by 130 bps to 4% in MAT Nov-24 from 83.1% in MAT Mar-24

Consumer Healthcare Business

• Strong revenue growth of 30% YoY in Q3FY25 supported by steady growth across all key brands
• Strong growth in secondary sales  for Manforce Condom, Gas-o-fast and HealthOk of 13%, 28% and 26% YoY respectively
• Gaining strong traction in recent strategic launches: Manforce Epic (Premium category), Nimulid (Pain Management) etc.

Exports

• Revenue growth of 121% YoY driven by increase in our base business supported by new launches in last 12-24 months and consolidation of BSV
• Mankind (excl. BSV) has launched 1 product in Q3FY25 and 4 products in 9MFY25; taking the total launched products to 42 in US

Consolidated Profit & Loss Account

In INR Crore	Q3 FY25	Q3 FY24	YoY%	Q2 FY25	QoQ%
Revenue from Operations	3,230	2,607	23.9%	3,077	5.0%
Gross Margins %	71.0%	68.3%	270 bps	71.6%	(60 bps)
EBITDA	833	611	36.4%	853	(2.3%)
EBITDA Margin %	25.8%	23.4%	240 bps	27.7%	(190 bps)
Adjusted EBITDA Margin%	27.7%	23.4%	430 bps	27.7%	–
PAT	385	460	(16.4%)	659	(41.6%)
PAT Margin %	11.9%	17.6%	(570 bps)	21.4%	(950 bps)
Diluted EPS (INR)	9.4	11.3	(16.5%)	16.3	(42.0%)
Cash EPS (INR)	14.2	14.1	1.1%	18.9	(24.9%)

 

In INR Crore	9M FY25	9M FY24	YoY%
Revenue from Operations	9,200	7,894	16.5%
Gross Margins %	71.5%	68.7%	280 bps
EBITDA	2,372	1,957	21.2%
EBITDA Margin %	25.8%	24.8%	100 bps
Adjusted EBITDA Margin%	26.9%	24.8%	210 bps
PAT	1,586	1,465	8.3%
PAT Margin %	17.2%	18.6%	(140 bps)
Diluted EPS (INR)	39.1	35.9	8.7%
Cash EPS (INR)	49.2	43.3	13.6%

Segmental Revenue Break Up

In INR Crore	Q3 FY25	Q3 FY24	YoY%	Q2 FY25	QoQ%
Domestic	2,773	2,400	15.5%	2,796	(0.8%)
·  Consumer Healthcare	193	149	29.5%	232	(16.8%)
Exports	457	207	120.8%	281	62.6%
Total	3,230	2,607	23.9%	3,077	5.0%

 

In INR Crore	9M FY25	9M FY24	YoY%
Domestic	8,203	7,348	11.6%
·  Consumer Healthcare	631	550	14.7%
Exports	997	546	82.6%
Total	9,200	7,894	16.5%

Mandi, India – January 24, 2025 – The School of Management, Indian Institute of Technology Mandi (IIT Mandi) proudly concluded the Himalayan Business Summit (HiBS) 2025, a remarkable two-day event held on January 18–19, 2025. The summit brought together industry leaders, renowned professionals, and academic experts to explore the transformative potential of Artificial Intelligence (AI) in shaping the future of businesses.

The event, hosted by IIT Mandi’s School of Management, served as a dynamic platform to address key technological disruptions, engage in thought-provoking discussions, and facilitate mentorship and collaboration opportunities between students and business stalwarts.

The summit was inaugurated with a formal welcome address by Prof. Anjan K. Swain, Chairperson of the School of Management,who introduced the vision of HiBS and the role of IIT Mandi’s School of Management in shaping the next generation of leaders in AI and business. Prof. Manoj Thakur, followed with a detailed overview of the institution’s initiatives in bridging the gap between academia and industry.

The keynote address was delivered by Mr. Anup Purohit, Global CIO at Wipro Limited, who highlighted how organizations can align AI with their business strategies to foster innovation and enhance digital transformation.

The first panel discussion of the summit, themed “AI-Powered Personalization: Tailoring Products and Services”, was moderated by Mr. Karun Jalali (Director, Deloitte). Esteemed panelists, including Mr. Nilesh Biniwale (Pattern India), Dr. Tanushyam Chattopadhyay (Adani AI Labs), and Mr. Sarosh Kumar (Cognizant), engaged in a robust discussion on the importance of leveraging AI to deliver personalized experiences in today’s competitive market.

A standout feature of the day was the mentorship sessions, where students interacted with industry leaders, discussing career opportunities, technological trends, and real-world business practices. The day ended on a high note with an engaging cultural night, showcasing the diverse creative talents of IIT Mandi’s students through traditional Mandiyali dance, music, and more.

Day two commenced with a keynote address by Dr. Umesh Udayaprakash (Innova Solutions), who emphasized the growing influence of AI-driven innovation in reshaping global industries.

The second panel discussion, “AI-Driven Business Intelligence: Unlocking Data-Driven Insights”, moderated by Dr. Vinay Kumar, featured panelists like Mr. Abhijit Dutta (Accenture), Mr. Sumanyu Panda (SKLasS.AI), and Mr. Sidharth Balakrishna (BOD Consulting). They shared insights on transforming raw data into actionable intelligence for competitive advantage.

The final panel discussion, “AI & Cybersecurity: Protecting Digital Assets”, was moderated by Mr. Samir Datt (Foundation Futuristic Technologies). Panelists, including Mr. Venkatagiri (KFin Technologies), Mr. Ajay Sabnani (Genexa.AI), and Mr. Arnab Banerjee (Micron Technology), deliberated on safeguarding sensitive digital assets in the era of growing cyber threats.

The case competition was the centerpiece of the summit, where MBA students from IIT Mandi presented innovative solutions to contemporary business challenges. Their analytical skills and strategic thinking were highly praised by the esteemed jury, comprised of industry experts.

The event concluded with a valedictory address by Dr. Ashish Bollimbala, who commended the collaborative efforts of participants, organizers, and mentors in making HiBS 2025 a resounding success.

HiBS 2025 offered a wealth of learning and growth opportunities for MBA students. The event fostered meaningful networking opportunities, allowing students to connect directly with industry stalwarts and gain valuable insights into emerging trends and business strategies. Personalized mentorship sessions provided a platform for career guidance and a deeper understanding of real-world business operations. The discussions during the event highlighted the importance of bridging academia and industry, emphasizing the need for collaboration between educational institutions and businesses to effectively address industry challenges. Adding a vibrant touch, the cultural night celebrated diversity, creativity, and teamwork, enriching the overall experience for participants.

Mumbai, January 24, 2025: Today Global Developers, a leading real estate name from Navi Mumbai, has announced its rebranding as Today Group marking a significant step in connecting to newer audiences and markets.

Today Group’s new brand identity and logo design instills freshness to the brand’s styling. It has been chosen to resonate with a younger demographic while retaining the legacy and trust the group has built over the years.  The brand exercise reflects the Today Group’s vision to expand its reach, stay relevant to its stakeholders and create lasting connections in an ever-changing real estate market.

The new design stems from an infinite structure that symbolises the limitless opportunities the Today Group looks forward to as it expands into new geographies. The new infinity-inspired design is also a reflection of the promise of enduring bonds the company shares with its customers, promising happiness and satisfaction to all. It’s tagline, “Here. Forever,” is a reinforcement of Today Group’s commitment to ensuring confidence and trust among its audience.

Sharing his thoughts on the company’s new brand identity, Mr. Bhadresh Shah, Managing Director of Today Group said, “With a focus on architectural innovation and an unwavering commitment to excellence, the change is rooted in its core values of quality, integrity, loyalty, and professionalism in its mission to deliver long-term value to customers, investors, employees, and associates. With all this going, Today Group is launching 1 crore squarefeet across MMR in 2025 and is venturing into township, retail, commercial and mixed used developments.”

Commenting on the new logo and brand identity of the company, Mr. Bhavesh Shah, Joint Managing Director of Today Group, said, “The new logo represents more than just a visual change; it embodies the transformation Today Global Developers has been undergoing as a company. As we scale from a Rs 400 crore to Rs 1,000 crore, Today Group is introducing new projects, expanding its portfolio, and implementing cutting-edge systems and processes. This rebranding reflects Today Group’s aspiration to connect with a broader audience, embrace innovation, and remain a forward-thinking organisation.”

boasting the second-largest social media following in the country, she truly embodies the phrase “living the dream”. With a passion for storytelling and unwavering commitment to her craft, Kapoor stands as one of the most sought-after actors of her generation. Beyond the screen, her down-to-earth vibe and infectious energy have made her a fan favourite. Whether it’s her quirky Instagram posts or simply her relatable persona, Kapoor continues to charm millions with her charisma.

In an exclusive conversation with Grazia India, Kapoor opens up about prioritising self-care amid the chaos of stardom and navigating the unpredictable nature of the industry.

2025 also sets the stage for Kapoor’s next chapter, and she reflects, “I’ve had a spectacular year, being a part of a film that has been loved so much. The best is yet to come, but I’m extremely grateful for the year that I’ve had. Stree 2 has been such a special film for me right from its first part; back then, it was such a big deal to be doing a film that was going to be a part of a new genre.”

On her approach to taking risks, Kapoor adds, “You must be open to new thoughts and new ways of filmmaking, and being a part of films that don’t feel ‘safe or packaged well’. I enjoy taking risks because that is when you get a chance to be a part of pushing cinema forward.”

Reflecting on the ever-changing and unpredictable nature of the industry, she shares, “I’ve realised there are no rules; one doesn’t know what kind of film, or character, or which production company will make the next memorable film.”

Kapoor emphasises the importance of giving her all to the craft. She says, “When you decide you want to accomplish something, I feel like it takes away from the process. I would rather focus on continuing to be a part of good films and do memorable work and pour my heart and soul into it.”

Despite achieving remarkable success, the actor stays grounded and relatable: “There are days when I’m exhausted, I vegetate and do nothing, chill at home with my pets and eat ghar ka khaana. You know when you’re headed for a burn-out, so I try not to wait for that, and I prioritise downtime whenever possible.”

Acknowledging her social media presence, she reflects on maintaining balance in the digital age, “I don’t want social media to take over my life. I post when I feel like it, and this is something that I want to tell people too – don’t feel pressurised to post all the time, it’s no fun. Our responsibility is that we can’t let the pressures of social media.”

KLH and KL Deemed to be University campuses have once again presented remarkable performances in the latest IIC (Institution’s Innovation Council) Performance Ratings for 2023-24, as announced by the Ministry of Innovation Council (MIC) under the Ministry of Education (MoE).

The KLH Aziznagar campus in Hyderabad has achieved a commendable 3.5-star rating, underscoring its sustained commitment to fostering innovation and entrepreneurship. This achievement marks the second consecutive year that KLH has secured one of the highest ratings, sustaining a vibrant ecosystem for creative and innovative endeavors. The KLH Incubation Center, together with faculty members, cultivates a spirit of entrepreneurial thinking among students, guiding innovations from ideation to startup.

Simultaneously, KL Deemed to be University Vijayawada campus has secured a 4-star rating for the 5th consecutive year. Under the leadership of senior management, the KL-CIIE (Center for Innovation, Incubation, and Entrepreneurship) along with faculty members and staff has been consistently working on the sustainable commitment to promote an environment where innovative ideas and entrepreneurial activities thrive.

Dr. G. Pardha Saradhi Varma, Vice Chancellor of KL Deemed to be University, expressed his pride in these achievements: “These stellar ratings are a testament to the dynamic capabilities of our faculty and the innovative spirit of our students. They confirm our role as leaders in shaping the future of education and innovation. This continuous recognition motivates us further to pursue excellence in all our academic and entrepreneurial endeavors.” He extended complements to the Incubation Centers at both campuses whose unwavering support and contributions have been instrumental in achieving these high standards of innovation and excellence.

These accolades not only reflect the robust innovation culture at the campuses but also reinforce to continue nurturing the talents and ideas that drive societal progress and economic growth.

Bangalore, 24nd January 2025: Tally Solutions, a leading technology player in the Business Management Software (BMS) ecosystem, has acknowledged and celebrated the significant contributions of the Tax and Accounting community of Bangalore in driving the adoption of technology to augment the accounting and compliance needs of India’s micro, small, and medium enterprises (MSMEs). In recognition of the outstanding work of GSTPs, accountants, tax advocates, and other professionals, Tally Solutions hosted an exclusive event ‘Tax and Accounting Titans’ to honor their efforts. The event celebrated the achievements of 10 distinguished professionals from Bangalore who have shown exemplary commitment and dedication to their profession.

Sharing his views on this initiative, Anil Bhargavan, General Manager – South Zone, Tally Solutions, said, “We are thrilled to celebrate the incredible contributions of the Tax and Accounting community in Bangalore. Their dedication to embracing technology has been pivotal in empowering MSMEs to overcome challenges and thrive in today’s dynamic environment. Through our ‘Tax and Accounting Titans’ initiative, we honor not just individual excellence but the collective effort that drives progress in our industry. Together, we are committed to fostering an ecosystem where technology adoption leads to sustainable growth and compliance for all businesses.”

The event highlighted the community’s commitment to advancing the accounting and taxation landscape for MSMEs. These professionals have played a vital role by leveraging digital tools and solutions to streamline various processes and improve efficiency. Tally’s unique ‘Tax and Accounting Titans’ initiative has been curated with the vision to acknowledge the sustained efforts of these professionals. The winners were recognized at the event in Bangalore in the presence of S Nanjunda Prasad, President Karnataka State Tax Practitioners Association, KC Ananda, President Bengaluru Tax Practitioners Association and K P Lakshmi Narayana, President Bengaluru Rural Tax Practitioners Association

The winners were acknowledged across three categories – Accounting Maestro: Recognizing stalwarts who have withstood the test of time and continue to help MSMEs to grow for more than 15 years, Emerging Star: Recognizing the new gen-GSTPs who have started their practice less than 5 years ago, have identified a market gap and have helped their customers to resolve the gaps and Tech Innovator: Recognizing GSTPs who are agile with modern technology adoption yielding superior results.

Bangalore, known as the Silicon Valley of India, is a thriving business destination for technology, innovation, and entrepreneurial start-ups. It is also known for its vibrant IT sector, educational institutions and startup ecosystem. Tally Solutions, along with the GSTP community, has led the way in driving technology adoption and streamlining compliance processes for businesses, enabling them to better navigate the ever-changing market landscape and remain competitive in the digital age.

 

By Dr. Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital

As India prepares for the Union Budget 2025 on February 1, 2025, expectations are running high, with an estimated ₹53 lakh crore plan in the works. This budget is poised to address pressing economic concerns while paving the way for sustained growth through infrastructure development, manufacturing incentives, and tax reforms. We anticipate a capital expenditure-heavy, infrastructure-oriented budget focused on development rather than the provision of individual freebies. Such an approach is expected to drive revenue and earnings growth over the next few years. Furthermore, with the Reserve Bank of India likely to cut interest rates, market conditions appear favorable. The Nifty index could potentially witness a 15–20% increase over the year.

Investors, businesses, and individual taxpayers should closely monitor these developments as they unfold, as they will significantly influence the country’s economic trajectory and the broader investment landscape.

A Shot in the Arm for Consumption
The government’s primary focus appears to be reigniting consumption to counter the slowdown in GDP growth observed in the past quarter. To achieve this, there is growing talk of providing income tax relief for salaried taxpayers. By increasing their disposable income, the government aims to boost purchasing power and stimulate consumer demand, a critical driver of economic growth.

Infrastructure: A Catalyst for Employment and Growth
With India’s young workforce expanding rapidly, the budget is likely to allocate increased funds for infrastructure projects, including smart cities, national highways, and rural connectivity. Investments in these sectors are expected to create employment opportunities and drive economic momentum, contributing to a robust foundation for long-term development.

Streamlining Tax Laws and Direct Tax Code Developments
The Income Tax Department has received over 6,500 suggestions from stakeholders aimed at simplifying tax laws. A Central Board of Direct Taxes (CBDT)-led committee is reportedly working on removing outdated provisions and easing compliance requirements. The revised tax framework is expected to reduce the current 298 sections and 23 chapters into a more streamlined format.

While the long-awaited Direct Tax Code (DTC) is in the works to replace the Income-tax Act of 1961, the upcoming budget might not feature major structural changes in direct taxes. However, individual taxpayers could benefit from minor relief measures, such as revised tax slabs, aimed at combating inflation. These changes could make additional cash available to households and further stimulate consumption.

Focus on Simplification and Rationalisation
The government appears focused on simplifying tax laws gradually, with special attention to rationalising the Tax Deducted at Source (TDS) provisions. Sources indicate that the current complex TDS structure could be consolidated into 3-5 broad categories with simplified rates. This streamlining effort could significantly reduce compliance burdens for taxpayers and businesses alike.

Tax rationalisation, long overdue, remains a pressing issue. While efforts have been made to address this through proposals like the draft Direct Tax Code, progress has been slow. The government’s current strategy seems to favor addressing existing challenges within the current framework rather than introducing entirely new legislation.

Addressing Tax Litigation Challenges
One of the critical issues that the budget must tackle is the ongoing challenge of tax litigation. Significant sums remain stuck in litigation under the current Income Tax Act, creating uncertainty for taxpayers and delaying revenue collection for the government. Addressing these bottlenecks could improve the ease of doing business and provide greater certainty for both taxpayers and the tax department.

Incentives for Manufacturing and Industry
As part of its growth strategy, the government is expected to extend the low-tax regime to companies setting up new manufacturing units in India during the financial year 2025-26. This measure aims to attract investments, generate employment, and boost industrial activity.

Sectors such as textiles, footwear, gems and jewellery, electric vehicles, pharmaceuticals, and renewable energy are likely to benefit from targeted incentives, including Production Linked Incentive (PLI) schemes. These incentives could enhance India’s competitiveness in global markets and foster self-reliance in critical areas like electronics and solar panel manufacturing.

Balanced Measures for Economic Growth
While major structural reforms may be on hold, the India Budget 2025 is expected to deliver a balanced mix of measures addressing immediate challenges while laying the groundwork for sustained growth. By prioritizing consumption, simplifying tax laws, and incentivizing manufacturing, the government is paving the way for economic recovery and long-term resilience.

Dr. Kshitiz Murdia – CEO & Co-Founder of Indira IVF on the healthcare segment

“India stands at a crucial crossroads in addressing the growing challenge of infertility, which carries significant socio-economic implications. Globally, nations like South Korea and Singapore are grappling with record-low Total Fertility Rates (TFR) of 0.72 and 0.97, respectively, while within India, states such as Kerala, Tamil Nadu, and Karnataka report TFRs below replacement levels. These trends underscore the urgent need for India to act decisively to maintain its demographic stability and provide opportunities for those who aspire to achieve parenthood. The Union Budget for 2025-26 presents a critical opportunity to integrate infertility management as a core component of public healthcare.

One key measure we have been advocating for over the past 3–4 years is the integration of fertility treatments, including assisted reproductive technologies (ART), into universal health insurance schemes. Such an initiative would make these treatments financially accessible to families across socio-economic strata, alleviating a significant burden for those seeking to build a family. Additionally, offering tax exemptions or deductions on fertility treatment expenses would provide immediate relief to many couples. To ensure equity in access, investments should also be directed toward establishing ART infrastructure in underserved regions, bridging the geographical divide in reproductive healthcare.

Public awareness campaigns to establish infertility as a medical condition that can be treated are essential to combat the stigma surrounding infertility, particularly in Tier 2 and Tier 3 cities, and encourage timely medical interventions. Coupled with increased funding for research in reproductive health, these initiatives can drive innovation and improve treatment outcomes, helping more individuals fulfill their aspirations of parenthood.

The global experience with declining fertility rates serves as a warning for India to proactively address these challenges. By prioritizing infertility care in Budget 2025-26, the government can empower millions of families, promote equitable healthcare, and contribute to the nation’s socio-economic resilience. These measures align with India’s vision of a healthier, more inclusive, and progressive future, ensuring the country remains well-prepared to face both demographic and economic challenges.”

Mumbai, January 24, 2025: The Wankhede Stadium, a cornerstone of Indian cricket history, came alive with emotion, nostalgia, and celebration as the Mumbai Cricket Association (MCA) marked its 50th anniversary on January 19, 2025. The iconic venue hosted a grand spectacle, presented by Sugee Group as the Title Sponsor, celebrating five decades of cricketing excellence.

The mesmerizing evening, hosted by Mandira Bedi, Prasanna Sant, and Jatin Sapru, featured captivating performances by renowned artists Avadhoot Gupte and Ajay-Atul, along with a spectacular laser show, offering an unforgettable experience for the audience.

Established in 1974, the iconic stadium has witnessed numerous historic cricketing moments, etching its name firmly in modern cricket history. The event brought together cricket legends across generations, including Sunil Gavaskar, Sachin Tendulkar, Rohit Sharma, Ravi Shastri, Ajinkya Rahane, Diana Edulji, Shreyas Iyer, Yashasvi Jaiswal among others. Fans experienced heartfelt moments, a magnificent tribute to Wankhede’s illustrious legacy, and an inspiring vision of hope for the future of Indian cricket.

Cricketing legends and captains, past and present, echoed their sentiments, while groundsmen and support staff were honoured. All echoed the significance the stadium has had in shaping their career and India’s overall cricketing journey. The essence of Mumbai’s cricketing legacy which produces talented players year-on-year, also came to the forefront in deliberations among the star players.

Sugee Group Founder and Managing Partner, Mr. Nishant Deshmukh, expressed immense pride in partnering with MCA for this milestone celebration, stating, “Wankhede Stadium is not just a landmark; it is the soul of Mumbai’s cricketing passion and a living embodiment of the city’s rich cultural heritage. To be part of such a historic occasion is a moment of immense honour and deep gratitude for Sugee Group. This celebration resonates with our core values of enriching lives, preserving legacies, and fostering connections that transcend time. Contributing to this iconic event was a heartfelt tribute to Mumbai’s spirit and the timeless memories it creates for generations.”

MCA President Shri Ajinkya Naik added, “The support of Sugee Group as our Title Sponsor elevated the grandeur of this celebration. Their dedication to Mumbai’s development complements the spirit of Wankhede Stadium, and together, we delivered an unforgettable experience to cricket enthusiasts across the nation.”