Mankind Pharma Ltd. said it had executed a Business Transfer Agreement (BTA) to transfer its Over-the-Counter (OTC) business undertaking to its wholly owned subsidiary, Mankind Consumer Products Private Ltd. (MCPPL), on a slump-sale basis.
“The transfer of the OTC business will be undertaken as a going concern, meaning the business will continue to operate without interruption. As part of the slump sale, the transaction has been completed for a lump-sum consideration,” the company said in a statement.
In Q1 FY25, the OTC business reported a revenue of ₹206 crore, with an EBITDA margin of 19.5%. For FY24, it had achieved a total revenue of ₹706 crore, maintaining EBITDA margin of 19.9%.
“This strategic realignment is part of Mankind Pharma’s broader strategy to enhance its focus on the consumer business, which currently contributes 7% to the company’s overall revenue,” the company said.
Its consumer products portfolio includes brands such as Manforce, HealthOK, Prega News, AcneStar, Unwanted and Gas-O-Fast across categories such as wellness, hygiene, and personal care.
Published - October 01, 2024 08:54 pm IST
