Mankind Pharma Ltd
MANKIND NSE
Mankind Pharma Ltd
Healthcare F&ONSE: MANKIND BSE: 543904 Pharmaceuticals
Key Fundamentals
MidcapPharmaceuticalsHealthcareMarket Cap
₹97,975 Cr
Volatility
Moderate
P/E Ratio
48.35
EBITDA
₹3,976 Cr
Return on Equity
11.7%
Debt to Equity
0.39
Book Value
₹394.69
EPS
₹48.99
52W High
₹2,674
52W Low
₹1,909.7
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Mankind Pharma Ltd insights
48 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
1- Promoter holding has decreased over last 3 years: -3.87%
Growth Rate
Revenue Growth
14.85% ↗
Net Income Growth
-3.41% ↘
Cash Flow Change
29.33% ↗
ROE
-15.03% ↘
ROCE
3.38% ↘
EBITDA Margin (Avg.)
-2.58% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk medium
Mankind Pharma is India's 4th-largest pharmaceutical company by domestic revenue with a market cap of ~₹99,879 Cr, trading at a PE of 48.4x. The company delivered 19% YoY consolidated revenue growth in FY25 to ₹12,207 Cr and reported a 30% jump in Q4 FY25 net profit to ₹554 Cr, but carries elevated debt of ~₹7,383 Cr post the ₹13,768 Cr BSV acquisition and has seen promoter holding decline by 3.87% over three years.
Bull Case 8
- Strong revenue growth trajectory with FY25 consolidated revenue of ₹12,207 Cr, up 19% YoY, and compounded sales CAGR of 18% over 3 and 5 years
- Q4 FY25 net profit surged 30% YoY to ₹554 Cr with EBITDA margins expanding to ~27%, indicating improving operating leverage
- Ranked #1 in physician prescriptions for 8 consecutive years with ~15.4% prescription share per IQVIA data, providing a durable competitive moat
- BSV acquisition (₹13,768 Cr) opens high-entry-barrier segments in women's health, fertility, and critical care with established R&D platforms
- Chronic therapy mix has risen to ~39% of revenues (from 18% in FY18), improving revenue stickiness and margins over time
- Company has been actively reducing debt post-BSV acquisition — debt declined from ₹7,383 Cr in Mar-2025 to ₹5,571 Cr by Mar-2026, demonstrating deleveraging discipline
- Domestic formulations revenue crossed ₹10,000 Cr milestone in FY25, with Q4 domestic revenue growth of 13.4% YoY outpacing overall IPM growth
- Volume-led growth model with ~4.4-4.5% IPM value share positions the company well in a market projected to grow substantially from ~US$57-60 billion in 2025
Bear Case 8
- PE ratio of 48.4x is significantly elevated relative to pharma sector averages, leaving limited margin of safety if growth slows
- Elevated debt of ₹7,383 Cr as of Mar-2025 (debt-to-equity ~0.54x) post the ₹13,768 Cr BSV acquisition increases financial risk and interest burden
- ROE has declined from a 5-year average of 17% to 13% in the last year, indicating diluted return efficiency possibly from BSV integration costs
- Promoter holding has decreased by 3.87% over the last 3 years, which may signal reduced promoter confidence or funding needs
- Stock CAGR of -1% over 1 year versus 13% profit growth suggests market de-rating, indicating the premium valuation may be under pressure
- BSV integration carries execution risk — structural integration committee was only constituted in April 2025 and a concrete plan is yet to be finalized
- Dividend yield of just 0.04% provides negligible income return to shareholders at current valuation levels
- TTM profit growth of 13% trails the 3-year compounded profit CAGR of 17%, suggesting some deceleration in earnings momentum
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 17h ago Positives 1
- Q1 profit surges 34% YoY Jul 30
Consolidated net profit rose 34% YoY to ₹574.09 crore in Q1FY26, driven by 13% revenue growth. Board also approved ₹150 crore corporate guarantee for subsidiary BSV.
Neutral 4
- Multiple institutional block trades Aug 3
Three block trades recorded between Jul 22–Aug 3 totalling ~₹63.80 crore (at prices ranging ₹2,484.90–₹2,572.00 per share), indicating sustained institutional activity without significant price disruption.
- Aug investor conference participation Aug 10
Mankind Pharma will participate in three investor conferences in Mumbai on August 13 and 17, 2026, discussing general business outlook.
- AGM approves reappointments Aug 4
Shareholders approved reappointment of Rajeev Juneja and Satish Kumar Sharma at the AGM on August 4, 2026, along with adoption of FY26 financials.
- Broadway Hospitality stake sold Jul 27
Completed sale of 100% stake in Broadway Hospitality Services for ₹49 crore cash consideration, streamlining the portfolio by exiting a non-core asset.
TL;DR: Mankind Pharma is executing well with strong Q1FY26 earnings growth of 34% YoY on the back of healthy revenue expansion. No material headwinds are visible in recent news flow. Institutional block trades and active investor engagement suggest steady market confidence. The trend appears constructive heading into H2FY26, with management focused on core pharma operations after divesting non-core holdings.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,579 | 2,708 | 2,607 | 2,422 | 2,868 | 3,061 | 3,199 | 3,079 | 3,570 | 3,697 | 3,567 | 3,443 | 4,031 |
| Expenses | 1,924 | 2,025 | 2,000 | 1,836 | 2,196 | 2,214 | 2,383 | 2,396 | 2,724 | 2,776 | 2,648 | 2,513 | 2,974 |
| Operating Profit | 655 | 683 | 606 | 586 | 672 | 847 | 816 | 683 | 847 | 921 | 919 | 930 | 1,056 |
| OPM % | 25% | 25% | 23% | 24% | 23% | 28% | 26% | 22% | 24% | 25% | 26% | 27% | 26% |
| Other Income | 63 | 63 | 75 | 94 | 108 | 109 | 87 | 249 | 83 | 94 | -31 | 94 | 49 |
| Interest | 6 | 9 | 9 | 9 | 11 | 7 | 221 | 191 | 171 | 170 | 157 | 142 | 110 |
| Depreciation | 87 | 96 | 110 | 100 | 103 | 100 | 187 | 231 | 219 | 222 | 223 | 223 | 226 |
| PBT | 624 | 641 | 562 | 572 | 666 | 849 | 495 | 511 | 540 | 624 | 509 | 659 | 769 |
| Tax % | 21% | 20% | 18% | 17% | 18% | 22% | 22% | 17% | 18% | 17% | 19% | 15% | 25% |
| Net Profit | 494 | 511 | 460 | 477 | 543 | 659 | 385 | 425 | 445 | 520 | 414 | 559 | 574 |
| EPS in Rs | 12.15 | 12.51 | 11.33 | 11.76 | 13.39 | 16.31 | 9.22 | 10.2 | 10.62 | 12.39 | 9.9 | 13.43 | 13.75 |
Profit & Loss
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,334 | 5,865 | 6,214 | 7,782 | 8,749 | 10,260 | 12,207 | 14,278 | 14,738 |
| Expenses | 2,748 | 4,427 | 4,565 | 5,791 | 6,848 | 7,743 | 9,182 | 10,653 | 10,911 |
| Operating Profit | 586 | 1,438 | 1,649 | 1,991 | 1,902 | 2,517 | 3,026 | 3,625 | 3,827 |
| OPM % | 18% | 25% | 27% | 26% | 22% | 25% | 25% | 25% | 26% |
| Other Income | 76 | 122 | 183 | 210 | 141 | 295 | 548 | 238 | 207 |
| Interest | 2 | 23 | 21 | 60 | 46 | 34 | 432 | 644 | 579 |
| Depreciation | 39 | 99 | 119 | 167 | 326 | 378 | 621 | 886 | 893 |
| PBT | 621 | 1,438 | 1,692 | 1,975 | 1,671 | 2,399 | 2,521 | 2,333 | 2,562 |
| 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 | 2,068 |
| EPS in Rs | 219 | 25.72 | 31.59 | 35.78 | 32 | 47.75 | 48.26 | 46.34 | 49.47 |
| Div. Payout % | 0% | 0% | 24% | 0% | 0% | 0% | 0% | 2% | — |
Balance Sheet
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 5,143 |
| Total Liabilities | 3,022 | 5,065 | 6,360 | 9,108 | 9,686 | 11,883 | 27,652 | 27,755 |
| Fixed Assets | 316 | 1,600 | 1,664 | 3,588 | 4,251 | 4,545 | 19,005 | 18,620 |
| CWIP | 47 | 317 | 372 | 701 | 550 | 282 | 826 | 1,128 |
| 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 | 6,022 |
| Total Assets | 3,022 | 5,065 | 6,360 | 9,108 | 9,686 | 11,883 | 27,652 | 27,755 |
Cash Flow
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | -181 |
| Financing | — | -531 | -8 | 605 | -740 | 5 | 10,233 | -2,953 |
| Net Cash Flow | — | 103 | -92 | 156 | 22 | 77 | 22 | -12 |
| Free Cash Flow | — | 853 | 826 | -1,423 | 987 | 1,771 | 1,895 | 2,387 |
| CFO/OP | — | 97 | 96 | 71 | 112 | 103 | 98 | 102 |
Ratios
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | -40 |
| ROCE % | — | — | 37% | 32% | 22% | 26% | 17% | 14% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 May - Mankind Pharma will host Q4FY26 and FY26 investor call on May 20, 2026 at 12:00 PM IST. 8 May - Mankind Pharma will host Q4FY26 and FY26 investor call on May 20, 2026 at 12:00 PM IST.
2
Board Meeting Intimation for Inter Alia, Consider And Approve The Standalone And Consolidated Audited Financial Results Of The Company For The Quarter And Financial Year Ended On March 31, 2026 And Realignment Of Security Cover Provided In Respect Of Existing Ncds.
7 May - Board meets May 19, 2026 to approve FY26 audited results and realign security cover after ₹1,250 crore NCD redemption. 7 May - Board meets May 19, 2026 to approve FY26 audited results and realign security cover after ₹1,250 crore NCD redemption.
3
Compliances-Reg.24(A)-Annual Secretarial Compliance
6 May - Annual Secretarial Compliance Report for FY2026 shows no non-compliance. 6 May - Annual Secretarial Compliance Report for FY2026 shows no non-compliance.
4
Announcement under Regulation 30 (LODR)-Credit Rating
22 Apr - CARE assigned AA+/A1+ ratings to Mankind Pharma's ₹1,000 crore bank facilities. 22 Apr - CARE assigned AA+/A1+ ratings to Mankind Pharma's ₹1,000 crore bank facilities.
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 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 ₹97975.04 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 48.35. 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 ₹2,674. 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 11.70%. 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]