Earnings Review
Mankind Pharma Profit After Tax up 30% Year on Year on slow rise in costs
This story was originally published at 17:12 IST on 30 July 2026
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--Mankind Pharma Apr-Jun consol net profit INR 5.68 bln
--Analysts saw Mankind Pharma Apr-Jun consol net profit at INR 5.86 bln
--Mankind Pharma Apr-Jun consol revenue INR 40.31 bln
--Analysts saw Mankind Pharma Apr-Jun consol revenue at INR 39.82 bln
--Mankind Pharma Apr-Jun consol PAT INR 5.68 bln vs INR 4.38 bln year ago
--Mankind Pharma Apr-Jun consol sales INR 40.31 bln vs INR 35.70 bln yr ago
--Mankind Pharma Apr-Jun consol EBITDA INR 10.60 bln vs INR 8.50 bln yr ago
--Mankind Pharma Apr-Jun consol EBITDA margin 26.3% vs 23.8% year ago
--Mankind Pharma Apr-Jun consol gross margin 72.8% vs 70.5% year ago
--Mankind Pharma Apr-Jun domestic revenue INR 34.26 bln vs INR 31.01 bln YoY
--Mankind Pharma Q1 revenue from exports INR 6.05 bln vs INR 4.69 bln yr ago
--Mankind Pharma spent INR 1.98 bln as capex in Apr-Jun vs 1.27 bln yr ago
--Mankind Pharma: Launched 1 new pdt in US Q1, ex-biopharma, serum, vaccines
--Mankind Pharma Q1 biopharma, serum, vaccines sales grow in double digits
By Shakshi Jain and Gunjan Rajput
NEW DELHI – Mankind Pharma Ltd. Thursday posted a strong year-on-year growth in its consolidated net profit for the June quarter on a moderate rise in revenues as total expenses rose slower. The bottom line, however, fell short of the Street's estimate by a small margin. Meanwhile, the top line surpassed analysts' consensus estimate, with better growth than the trailing two quarters. The pharmaceutical major's bottom line grew slightly slower than in the March quarter.
Mankind Pharma's consolidated net profit for the reporting quarter rose nearly 30% on year and a paltry 2.5% on quarter to INR 5.68 billion. Analysts' consensus estimate had pegged the bottom line at INR 5.86 billion for the quarter.
The New-Delhi headquartered company's consolidated revenue from operations grew almost 13% on year and a little over 17% sequentially to INR 40.31 billion. This was slightly higher than the INR 39.82 billion expected by the Street.
Total expenses of the company rose over 6% on year and 15% sequentially to INR 33.10 billion for the June quarter. Within this, other expenses grew nearly 9% on year and almost 20% sequentially to INR 9.63 billion. Employee benefit expenses rose about 17% on year and nearly 22% sequentially to INR 9.14 billion. The pharma player incurred a capital expenditure of INR 1.98 billion in the June quarter compared with INR 1.27 billion in the corresponding quarter last year.
The company's consolidated earnings before interest, tax, depreciation and amortisation increased 24.7% on year to INR 10.60 billion, while the EBITDA margin expanded 250 basis points to 26.3%, boosted by better gross margins and operating leverage. Gross margin improved 230 basis points to 72.8%, while net profit margin rose 170 basis points to 14.2%
The company's domestic business remained the key growth driver. Domestic revenue rose 10.5% on year to INR 34.26 billion, while domestic pharmaceutical revenue excluding the consumer healthcare business increased 11% on year to INR 31.80 billion. "Double-digit growth in Mankind domestic business with 15.8% growth in Chronic - 19.4% in cardiac and 12.7% in anti-diabetes. Outperformance in Gastro, VMN (Vitamins, Minerals, and Nutrients), Gynaec led to growth recovery in acute," said Rajeev Juneja, vice chairman and managing director. The recently acquired Bharat Serums and Vaccines Ltd. specialty business also posted strong growth.
Key brands such as the Telmikind family, Lipirose, Statpure and Glizid continued to deliver healthy growth, while Bharat Serums and Vaccines brands including Foligraf, Humog and Anti-D also reported robust performance, according to a press release by the company.
The consumer healthcare business revenue increased a modest 3.9% on year to INR 2.46 billion, partly due to the base effect from the discontinuation of its cash-and-carry business. However, the company said it gained market share in key brands such as Manforce, Preganews, and Gas-o-fast. Sales through modern trade and e-commerce channels rose sharply, increasing their contribution to 15% of the segment's revenue from 11% a year earlier.
International business continued to outperform, with export revenue rising 29% on year to INR 6.05 billion. During the quarter, Mankind launched one new product in the US, taking its cumulative launches in the market to 49 products, excluding Bharat Serums and Vaccines.
Separately, the company's board approved issuance of a corporate guarantee worth INR 1.50 billion in favour of various banks to secure credit facilities for its wholly owned subsidiary, Bharat Serums and Vaccines. The company said the guarantee is being issued on an arm's length basis and will be treated as a contingent liability to the extent of the facilities availed by the subsidiary.
The company announced its results during the market hours. Thursday, shares of the company ended at INR 2.575.90 on the National Stock Exchange, down 0.7%. End
Edited by Akul Nishant Akhoury
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