Mankind Pharma, India’s fourth-largest pharmaceutical company, reported a strong financial performance for the second quarter of FY27, with profit after tax (PAT) rising 38% year-on-year, revenue growing 17.3% and EBITDA surging 27%, backed by robust domestic sales and expanding margins.
The company posted consolidated revenue from operations of Rs 4,338 crore for the quarter ended September 30, 2026, compared with the year-ago period. EBITDA rose to Rs 1,175 crore, while the EBITDA margin expanded 210 basis points to 27.1%. PAT margin also improved 240 basis points to 16.5%.
Diluted earnings per share climbed 38.9% to Rs 17.2.
Domestic business, excluding Consumer Healthcare, remained the key growth driver, recording 15.9% growth as Mankind Pharma continued to outperform the Indian Pharmaceutical Market (IPM) on volume and secondary sales.
Exports delivered an even sharper acceleration, rising 32.7% to Rs 681 crore during the quarter, while domestic revenue reached Rs 3,657 crore, up 14.8%.
Mankind Pharma’s domestic business recorded secondary sales growth of 15.7% in Q2 FY27, outpacing the IPM’s 14.2% growth and delivering 1.1 times market outperformance.
Growth was broad-based across chronic and acute therapies, with cardiac and anti-diabetes portfolios providing strong momentum. Cardiac sales rose 18.7%, while anti-diabetes sales increased 15.8%. Gastroenterology and vitamins, minerals and nutrition (VMN) also delivered strong performances, growing 19% and 26%, respectively.
The company’s specialty business under Bharat Serums and Vaccines (BSV) maintained steady double-digit growth.
Several key brands posted strong gains during the quarter. Among acute brands, Pantakind grew 31%, Dydroboon 19%, Cefakind CV 18% and Nurokind LC 18%. In chronic therapies, Pangraf surged 60%, Placida rose 28%, Telmikind AM grew 16% and Glizid M advanced 15%.
BSV’s portfolio also delivered significant growth, with Humog rising 51%, Lonopin 45%, ASVS 45% and Anti D 37%.
Mankind Pharma continued to strengthen its high-value brand portfolio. The number of brands generating annual sales of more than Rs 50 crore rose to 63 in the 12 months ended September 2026, from 54 in FY26. Brands crossing the Rs 100-crore sales mark increased to 26 from 22.
The company also retained its No. 1 prescription ranking for the ninth consecutive year, with a prescription share of 15.2% and prescriber penetration of 84.4% in the 12 months ended August 2026.
International business emerged as another major growth engine, expanding 32.7% during the quarter. Exports contributed Rs 681 crore to revenue, reflecting continued momentum in overseas markets.
Consumer Healthcare, however, faced a more challenging quarter, with growth affected by slower category offtake across the industry and regional weakness in eastern and southern markets.
Despite the subdued environment, Mankind Pharma gained market share in key brands, including Manforce and Preganews. Modern trade and e-commerce accounted for 18% of the segment’s sales in Q2 FY27, up from 12% a year earlier, supported by 55% growth in the channel.
Secondary sales of Preganews and Ova News rose 14% and 10%, respectively, during the quarter.
For the first half of FY27, Mankind Pharma reported revenue from operations of Rs 8,368 crore, up 15.1% year-on-year. EBITDA climbed 26% to Rs 2,235 crore, while the EBITDA margin expanded 230 basis points to 26.7%.
Domestic revenue increased 12.7% to Rs 7,082 crore, while exports surged 31% to Rs 1,286 crore. PAT margin improved 210 basis points to 15.4%, and diluted earnings per share rose 34.6% to Rs 30.9.
Commenting on the results, Rajeev Juneja, Vice Chairman and Managing Director of Mankind Pharma, highlighted the company’s growth momentum, improved profitability and expansion across key therapeutic segments.
The company said disciplined execution and stronger business fundamentals underpinned the quarterly performance. Its recent acquisition of Armed Cell Therapeutics marks a strategic entry into next-generation CAR-T therapies, strengthening its research and development capabilities and positioning it for future growth.
With domestic brands continuing to outperform the market, exports accelerating and profitability improving, Mankind Pharma delivered a strong first-half performance. The key challenge ahead will be sustaining this momentum while reviving growth in its Consumer Healthcare business.
