MPMankind Pharma543904Earnings call transcript

Q2 & H1 FY27 earnings call transcript: revenue Rs. 4,338 crores, EBITDA margin 27.1%

Mankind Pharma has shared the transcript of its Q2 & H1 FY27 earnings conference call.

By ScoutQuest · Fri 30 Oct 2026, 3:18 PM IST · 2 min read

Revenue

Rs. 4,338 crores, up 17% year-on-year

EBITDA

Rs. 1,175 crores, up 27.2%

EBITDA Margin

27.1%

Result highlights

• Revenue Rs. 4,338 crores, up 17% year-on-year
• EBITDA Rs. 1,175 crores, up 27.2%
• EBITDA margin 27.1%, higher year-on-year
• Domestic business revenue Rs 3,657 crores
• Consumer healthcare revenue Rs. 229 crores

How the business performed

• Management said the domestic business grew on the back of double-digit growth in both the Mankind core domestic business (excluding consumer healthcare) and the BSV domestic business, partly offset by muted consumer healthcare.
• According to IQVIA data cited on the call, secondary sales grew faster than the overall Indian pharmaceutical market, which management called an outperformance, helped by higher volume growth and recovery in acute therapies such as gastro and vitamins.
• Volume growth trend improved through the year, from FY25 to FY26, the first quarter of this year and now the second quarter.
• Chronic therapies, excluding BSV, now make up 37.4% of the business, higher year-on-year, with management pointing to outperformance in cardiac, anti-diabetic and chronic respiratory therapies.
• The BSV portfolio continued its strong momentum, with management highlighting sharp growth in key brands such as Humog, Lonopin, Anti-D and ASVS.

Brand portfolio

• The number of large brand families above the Rs. 50 crore and Rs. 100 crore sales marks increased compared with FY26, which management linked to the productivity of its sales engine.
• Newer brands such as Vonalong, Empagreat, Dynaduo, Nurokind HS PFS and Pantakind Raft were said to be seeing encouraging traction.

Consumer healthcare

• Revenue was Rs. 229 crores, impacted by slower offtake in the category for the industry and some regional impact in East and South.
• Despite softer growth, management said it gained market share in key brands such as Manforce and Preganews, and that modern trade and e-commerce share rose from a year earlier on strong growth in that channel.

What management said about the road ahead

• The company is expanding its recently launched multi-therapy mass-market division, Vistaar, and is progressing towards launching new divisions in cardio, gastro and dental therapies to sharpen focus on high-potential brands and specialist engagement.
• Its in-house pipeline asset MKP11093, a JAK inhibitor, has received funding under the PRIP programme of the Government of India, which management said is a first for the company.
• Management referred to its recently announced strategic acquisition of Armed Cell Therapeutics, giving access to a next-generation CAR-T cell therapy platform.
• Management said it remains confident of sustainable growth and long-term value creation for patients and shareholders, while the transcript carries a standard caution that forward-looking statements are subject to risks and uncertainties.

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