Mankind Pharma Q2 Profit Jumps 39% to ₹711 Crore as Operating Margins
Domestic formulations giant Mankind Pharma posted a stellar financial performance for the second quarter of fiscal year 2026–27 on Monday, October 26, 2026, registering a 38.9 percent year-on-year surge in consolidated net profit to ₹711 crore, compared to ₹512 crore recorded in the corresponding quarter of the previous fiscal year. Driven by sustained volume momentum across chronic and specialty therapies along with operational efficiencies, consolidated revenue from operations expanded 17.3 percent year-on-year to ₹4,338 crore against ₹3,697 crore in the year-ago period. Operating profitability saw marked expansion, with consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) rising 27.1 percent to ₹1,172 crore from ₹922 crore, lifting operating EBITDA margins by 210 basis points to 27.1 percent, while profit after tax (PAT) margins expanded by 240 basis points to 16.5 percent, taking diluted quarterly earnings per share (EPS) to ₹17.2.
Chronic Outperformance and BSV Synergy Drive Domestic Market Leadership
The drugmaker's core domestic business delivered an exceptional quarter, with domestic operations revenue increasing 14.8 percent year-on-year to ₹3,657 crore, while secondary sales grew by 15.7 percent, outperforming the broader Indian Pharmaceutical Market (IPM) benchmark growth of 14.2 percent by 1.1 times. Excluding the consumer healthcare vertical, underlying domestic growth stood at 15.9 percent, bolstered by double-digit expansion across core Mankind lines and the high-margin Bharat Serums and Vaccines (BSV) specialty portfolio. In the chronic care segment, cardiac treatments grew by 18.7 percent and anti-diabetes formulations advanced 15.8 percent, while the acute portfolio outperformed IPM by 1.1 times, supported by a 1.3-times outperformance in gastrointestinal therapies and 1.4-times outperformance in the vitamins, minerals, and nutrients (VMN) basket. Flagship brands recorded rapid adoption, led by acute staples Pantakind surging 31 percent, Dydroboon up 19 percent, Cefakind CV climbing 18 percent, and Nurokind LC gaining 18 percent, while chronic formulations saw immunosuppressant Pangraf jump 60 percent, Placida rise 28 percent, Telmikind AM increase 16 percent, and Glizid M grow 15 percent. BSV's specialty hospital offerings maintained explosive momentum, with Humog surging 51 percent, Lonopin advancing 45 percent, Anti D jumping 37 percent, and ASVS climbing 45 percent, enabling Mankind Pharma to maintain its undisputed rank as India's number-one pharma company by domestic volumes for nine consecutive years, commanding a 15.2 percent national prescription share and an 84.4 percent doctor prescriber penetration rate.
Robust H1 Trajectory and Strategic Bets on Next-Gen CAR-T Cell Therapies
The quarterly performance consolidated Mankind Pharma's strong first-half trajectory, with H1 FY27 consolidated revenue growing 15.1 percent year-on-year to ₹8,368 crore, domestic turnover rising to ₹7,082 crore, and consolidated EBITDA expanding 26 percent to ₹2,235 crore with an improved half-year margin of 26.7 percent. International exports emerged as an aggressive growth engine, climbing 32.7 percent during the second quarter to ₹681 crore and taking total H1 export turnover to ₹1,286 crore, compensating for a temporary moderation in over-the-counter (OTC) consumer product sales. Highlighting the company's long-term strategic transformation, Vice Chairman and Managing Director Rajiv Juneja stated that management remains committed to strengthening operational execution, deepening core prescriber relationships, and building differentiated bio-pharmaceutical platforms. Underpinning its future therapeutic pipeline, Mankind emphasized that its strategic investments in next-generation CAR-T cell immunotherapies and newly integrated operational assets from Armed Cell Therapeutics will anchor its expansion into complex oncological and biopharmaceutical markets in India and abroad.
