Mankind Pharma Ltd logo

Mankind Pharma Ltd

MANKIND NSE

Incorporated in 1995, Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations in various acute and chronic therapeutic areas and several consumer healthcare products.[1]

AI Verdict: HOLD Confidence: 5%

Mankind Pharma delivers consistent 17-18% sales CAGR and has reduced debt, but trades at a steep PE of 51.3x with declining ROE from 17% (5-year) to 13% (last year). With 61% analyst buy ratings but 22% sell ratings, the stock is fairly priced for growth with limited margin of safety.

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
1.0L Cr
Volatility
Moderate
P/E Ratio
53.14
EBITDA
₹3,488 Cr
Return on Equity
20.28%
Debt to Equity
0.37
Book Value
₹394.69
EPS
₹48.99
52W High
₹2,716.5
52W Low
₹1,909.7

Technical Indicators

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -3.84%

Growth Rate

Revenue Growth
12.03% ↗
Net Income Growth
-12.80% ↘
Cash Flow Change
12.12% ↗
ROE
-32.07% ↘
ROCE
-46.01% ↘
EBITDA Margin (Avg.)
-14.63% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

Mankind Pharma delivers consistent 17-18% sales CAGR and has reduced debt, but trades at a steep PE of 51.3x with declining ROE from 17% (5-year) to 13% (last year). With 61% analyst buy ratings but 22% sell ratings, the stock is fairly priced for growth with limited margin of safety.

Bull Case 7
  • Strong revenue growth with compounded sales CAGR of 18% over 3 and 5 years, demonstrating consistent top-line execution
  • TTM sales growth of 17% indicates no meaningful deceleration in business momentum
  • Compounded profit CAGR of 17% over 3 years shows healthy earnings expansion alongside revenue growth
  • Company has actively reduced debt, improving balance sheet strength and financial flexibility
  • 61.11% of analysts (11 out of 18) have a buy rating, reflecting broad institutional confidence
  • Market cap of Rs 99,436 Cr places it among large-cap pharma names, offering liquidity and index inclusion potential
  • 5-year ROE averaging 17% indicates efficient capital allocation relative to domestic pharma peers
Bear Case 8
  • PE ratio of 51.3x is significantly elevated versus pharma sector median of 30-35x, leaving limited upside unless growth accelerates
  • ROE has declined from 17% (5-year average) to 13% last year, signaling deteriorating return on equity
  • Promoter holding has decreased by 3.84% over 3 years, raising concerns about insider confidence or dilution
  • Dividend yield of just 0.04% offers negligible income return, making the stock purely a growth bet
  • 22.22% of analysts (4 out of 18) carry a sell rating, indicating meaningful disagreement on valuation
  • Stock price CAGR of only 5% over 1 year has underperformed the broader market despite strong fundamentals
  • Price-to-book ratio of 6.09x is rich, implying the market is paying a heavy premium over book value
  • 5-year compounded profit CAGR of 11% lags the 18% sales CAGR, suggesting margin compression in earlier periods

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 2
  • Five-session losing streak May 27

    Stock declined 0.47% to ₹2,412.2, marking fifth consecutive session of losses with trading volumes at 3.04 lakh shares versus 7.96 lakh daily average, indicating reduced investor interest.

  • Underperformance vs pharma peers May 27

    Mankind Pharma tumbled 2.88% over the past year, significantly underperforming the Nifty Pharma index's 15.46% surge, highlighting sector-specific challenges despite premium PE ratio of 47.06.

Positives 3
  • Jefferies Buy, ₹3,000 target Jun 8

    Jefferies reiterated Buy rating with target price of ₹3,000, citing revival in volume growth across acute therapies and consistent chronic segment distribution.

  • Full Upakarma Ayurveda acquisition Jun 2

    Subsidiary acquired remaining 10% stake in Upakarma Ayurveda for ₹75 Lakhs, achieving 100% ownership to streamline operations and strengthen ayurveda portfolio.

  • Institutional block trade activity May 27

    Block trade of ~1,30,780 shares at ₹2,419.40 per share worth ₹31.64 crores executed on NSE, indicating sustained institutional interest in the stock.

Neutral 3
  • IIFL London conference attendance Jun 15

    Management will attend IIFL's Invest India Conference in London on June 23-24, 2026; no unpublished price sensitive information to be shared.

  • No promoter share encumbrance Jun 10

    Promoters confirmed no encumbrance on shares for FY26 under SEBI regulations, maintaining clean ownership structure.

  • New HR head appointed Jun 8

    Nilesh Kulkarni appointed Head of Human Resource Functions and designated Senior Management Personnel effective June 8, 2026, following internal restructuring.

TL;DR: Mankind Pharma is seeing renewed brokerage confidence with Jefferies maintaining a Buy at ₹3,000 target on volume growth revival, and is consolidating its ayurveda portfolio through the Upakarma acquisition. Key risks include sustained underperformance versus pharma sector peers over the past year and a premium valuation at 47x PE that leaves limited margin for error. The near-term trend shows stabilization after the May selling pressure, with institutional block trades and brokerage upgrades suggesting the stock may be finding a floor heading into FY27.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
2,053
2,579
2,708
2,607
2,422
2,868
3,061
3,199
3,079
3,570
3,697
3,567
3,443
Expenses
1,636
1,924
2,025
2,000
1,836
2,196
2,214
2,383
2,396
2,724
2,776
2,648
2,513
Operating Profit
417
655
683
606
586
672
847
816
683
847
921
919
930
OPM %
20%
25%
25%
23%
24%
23%
28%
26%
22%
24%
25%
26%
27%
Other Income
50
63
63
75
94
108
109
87
249
83
94
-31
94
Interest
5
6
9
9
9
11
7
221
191
171
170
157
142
Depreciation
85
87
96
110
100
103
100
187
231
219
222
223
223
PBT
377
624
641
562
572
666
849
495
511
540
624
509
659
Tax %
22%
21%
20%
18%
17%
18%
22%
22%
17%
18%
17%
19%
15%
Net Profit
294
494
511
460
477
543
659
385
425
445
520
414
559
EPS in Rs
7.13
12.15
12.51
11.33
11.76
13.39
16.31
9.22
10.2
10.62
12.39
9.9
13.43
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
3,334
5,865
6,214
7,782
8,749
10,260
12,207
14,278
Expenses
2,748
4,427
4,565
5,791
6,848
7,743
9,182
10,660
Operating Profit
586
1,438
1,649
1,991
1,902
2,517
3,026
3,617
OPM %
18%
25%
27%
26%
22%
25%
25%
25%
Other Income
76
122
183
210
141
295
548
241
Interest
2
23
21
60
46
34
432
639
Depreciation
39
99
119
167
326
378
621
886
PBT
621
1,438
1,692
1,975
1,671
2,399
2,521
2,333
Tax %
29%
27%
24%
26%
22%
19%
20%
17%
Net Profit
445
1,056
1,293
1,453
1,310
1,942
2,011
1,938
EPS in Rs
219
25.72
31.59
35.78
32
47.75
48.26
46.34
Div. Payout %
0%
0%
24%
0%
0%
0%
0%
2%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
40
40
40
40
40
41
41
Reserves
2,035
3,445
4,682
6,115
7,395
9,323
14,291
16,259
Borrowings
0
131
241
873
170
207
8,511
6,312
Other Liabilities
968
1,449
1,397
2,080
2,080
2,313
4,808
5,468
Total Liabilities
3,022
5,065
6,360
9,108
9,686
11,883
27,652
28,080
Fixed Assets
316
1,600
1,664
3,588
4,251
4,545
19,005
19,093
CWIP
47
317
372
701
550
282
826
655
Investments
959
829
1,512
1,109
1,346
2,568
2,042
1,985
Other Assets
1,700
2,319
2,811
3,709
3,538
4,488
5,780
6,346
Total Assets
3,022
5,065
6,360
9,108
9,686
11,883
27,652
28,080
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
1,070
1,137
920
1,813
2,152
2,413
3,121
Investing
—
-436
-1,222
-1,369
-1,052
-2,081
-12,624
-196
Financing
—
-531
-8
605
-740
5
10,233
-2,953
Net Cash Flow
—
103
-92
156
22
77
22
-28
Free Cash Flow
—
853
826
-1,423
987
1,771
1,895
2,387
CFO/OP
—
97
96
71
112
103
98
103
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
22
33
19
18
24
30
46
44
Inventory Days
166
175
243
265
188
180
219
193
Days Payable
71
145
137
162
126
90
119
121
Cash Conversion Cycle
117
63
125
121
86
120
146
117
Working Capital Days
56
30
32
24
39
53
-28
-1
ROCE %
—
—
37%
32%
22%
26%
16%
14%

Shareholding Pattern

As of Mar 2026
Promoters 72.66%
DIIs 14.46%
FIIs 10.24%
Public 1.39%
Others 1.25%
Total 100.00%
  Sep 2022Mar 2023May 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
79.00%
76.50%
76.50%
76.50%
76.50%
76.50%
74.88%
74.87%
74.87%
72.71%
72.70%
72.68%
72.67%
72.66%
72.66%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
9.87%
11.58%
12.37%
13.34%
12.92%
13.07%
12.84%
11.34%
10.24%
DIIs
0.00%
2.64%
2.64%
4.64%
4.39%
9.49%
11.14%
9.95%
9.90%
11.06%
11.48%
11.50%
11.92%
13.25%
14.46%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
4.15%
4.15%
1.02%
1.11%
1.14%
1.22%
1.46%
1.55%
1.60%
1.64%
1.52%
1.36%
1.52%
1.39%
Others
21.00%
16.71%
16.71%
17.83%
18.00%
12.87%
2.89%
2.15%
1.31%
1.30%
1.26%
1.23%
1.21%
1.23%
1.25%
No. of Shareholders
17
4,02,322
4,02,322
1,31,918
1,34,731
1,27,449
1,35,116
1,53,450
1,63,854
1,72,431
1,80,597
1,79,549
1,70,347
1,77,539
1,77,606

Documents

Frequently Asked Questions about Mankind Pharma Ltd

What does Mankind Pharma Ltd do?
Incorporated in 1995, Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations in various acute and chronic therapeutic areas and several consumer healthcare products.[1]
Where is Mankind Pharma Ltd (MANKIND) listed?
Mankind Pharma Ltd is listed on the Indian stock exchanges. It is listed on NSE: MANKIND and BSE: 543904. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Mankind Pharma Ltd belong to?
Mankind Pharma Ltd operates in the Healthcare sector within the Pharmaceuticals & Biotechnology industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Mankind Pharma Ltd?
Mankind Pharma Ltd has a market capitalisation of approximately ₹103465.46 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Mankind Pharma Ltd?
The Price-to-Earnings (PE) ratio of Mankind Pharma Ltd is 53.14. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Mankind Pharma Ltd?
Over the past 52 weeks, Mankind Pharma Ltd has traded between a low of ₹1,909.7 and a high of ₹2,716.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Mankind Pharma Ltd pay dividends?
Yes, Mankind Pharma Ltd has a dividend yield of 0.04%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Mankind Pharma Ltd?
Mankind Pharma Ltd has a Return on Equity (ROE) of 20.28%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Mankind Pharma Ltd on Tapetide?
On Tapetide, you can view Mankind Pharma Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 1995, Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations in various acute and chronic therapeutic areas and several consumer healthcare products.[1]

Website mankindpharma.com
Listed 2023-05-09
Face Value ₹ 1
Issued Size 41,28,05,072

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