Investor Presentation for Q4&FY26
MANKIND · price
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Mankind Pharma reported strong Q4 FY26 results with revenue of ₹3,443 Cr (11.8% YoY) and FY26 revenue of ₹14,278 Cr (17% YoY growth). Adjusted EBITDA margins improved to 27.1% in Q4 (up 400 bps YoY), with gross margins at 72.2%. PAT grew 30.4% YoY to ₹559 Cr in Q4. The company maintained #1 rank in prescriptions for 9 years with market share of 4.7% in IPM. Domestic business (excluding Consumer Healthcare) grew 13%, driven by 14.7% growth in Cardiac and 11.6% in Anti-Diabetes, with chronic share increasing to ~40%. Consumer Healthcare segment grew 20% YoY led by strong performance in Manforce, Prega News, and e-commerce. BSV acquisition continues to strengthen the super specialty portfolio. Net Debt/EBITDA improved to 1.1x from 1.8x in Mar 2025. CFO/EBITDA ratio maintained at 84%. Key brands Telmikind (₹783 Cr) and Nurokind (₹667 Cr) continue to scale, while Glizid crossed ₹230 Cr in MAT Mar'26. International business grew muted at 4% due to geo-political headwinds.
Strong margin expansion and debt reduction signal operational efficiency improvements. The focus on chronic therapies and specialty segments positions the company well for sustainable growth. However, muted export growth and softer PAT in FY26 (₹1,938 Cr, down 3.4%) due to higher interest costs from acquisitions warrant monitoring.