Please find attached the Audited Financial Results for the Quarter and Financial Year ended March 31, 2026
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Mankind Pharma reported strong audited results for FY26 with standalone revenue from operations of Rs 10,421 Crores, up 9.6% from Rs 9,507 Crores in FY25. Profit after tax grew 14.1% to Rs 2,038 Crores from Rs 1,786 Crores. Q4 standalone revenue was Rs 2,582 Crores with PAT of Rs 714 Crores. Operating margin expanded significantly to 35% in Q4 (vs 26% in Q4 FY25) and 29% for full year (vs 26% in FY25). Net profit margin improved to 28% in Q4 from 17% in prior year quarter. Annual EPS stands at Rs 17.29. The auditors issued an unmodified (clean) opinion. The company also disclosed restated comparative figures for FY25 due to BSV acquisition, and flagged an Emphasis of Matter regarding pending income tax proceedings with Rs 1,867 Crores of tax adjustments under appeal. Exceptional items of Rs 22.82 Crores in Q4 include Labour Code implementation impact and stamp duty on IP assignment.
Strong operational performance with margin expansion signals improving profitability. However, the restatement of prior year figures and ongoing income tax litigation (Rs 1,867 Crores in adjustments) warrant monitoring. The clean audit opinion and cash preservation measures (directors forgoing commission) are positives for investors.