Manufactures and sells pharmaceutical formulations across chronic, acute, and consumer healthcare categories in India, with an international business run through its wholly owned subsidiary Bharat Serums and Vaccines (BSV). Domestic formulations span cardiac, anti-diabetic, anti-infective and other therapy areas, while consumer healthcare covers OTC brands such as Manforce and Gasofast. The international business posted ₹605 cr in Q1 FY27 (+29% YoY) with BSV contributing to high-teens growth, and BSV holds 100% market share in anti-D in India. Consumer healthcare generated ₹246 cr in Q1 FY27, partly hit by discontinued cash-and-carry distribution. Q1 FY27 consolidated revenue was ₹4,031 cr (+13% YoY) and PAT was ₹574 cr (+29% YoY); FY26 revenue was ₹14,277.64 cr with EBITDA margin of 26.94%. Costs are dominated by employees (22.3% of revenue) and other operating expenses (24%), with materials at 16%, depreciation 6.2% and capex 4.4% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic formulations (chronic and acute), Consumer healthcare (OTC), International business, Bharat Serums and Vaccines (BSV). Diversified Indian pharmaceutical company across chronic, acute, OTC and vaccines/biologics, asset-light on manufacturing with high gross margins
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 8,749 | 10,335 | 12,207 | 14,278 |
| EBITDA (ex other income) | 1,901 | 2,535 | 3,018 | 3,488 |
| margin % | 21.7 | 24.5 | 24.7 | 24.4 |
| Owners' profit | 1,282 | 1,913 | 1,986 | 1,913 |
| EPS, as reported (₹) | 32.00 | 47.75 | 49.28 | 46.35 |
| ROE % · ROCE % | 17.2 · 21.7 | 20.3 · 24.6 | 13.8 · 13.3 | 11.7 · 13.7 |
| Debt / equity (x) | 0.02 | 0.02 | 0.58 | 0.38 |
| Cash from operations | 1,813 | 2,152 | 2,413 | 3,121 |
| Capex | (789) | (315) | (461) | (626) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,077 | 3,230 | 3,079 | 3,570 | 3,697 | 3,567 | 3,443 | 4,031 |
| Profit before tax | 847 | 494 | 513 | 537 | 622 | 506 | 656 | 766 |
| Net profit | 659 | 385 | 425 | 445 | 520 | 414 | 559 | 574 |
| EPS (₹) | 16.31 | 9.45 | 10.19 | 10.62 | 12.39 | 9.90 | 13.44 | 13.76 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Mankind Pharma informs exchange about schedule of upcoming meeting | board shareholder meetings | low | — | — |
| 7 Sept 2026 · BSVL (wholly owned subsidiary) members approve voluntary liquidation | strategic transactions | high | — | — |
| 1 Sept 2026 · Allotment of 49,112 equity shares under ESOP Plan 2022 | capital market events | low | — | — |
| 31 Aug 2026 · Mankind Pharma completes sale of 100% stake in Broadway Hospitality subsidiary | strategic transactions | high | — | — |
| 30 Aug 2026 · Mankind Pharma independent director completes second term | management changes | medium | — | — |
| 26 Aug 2026 · Mankind Pharma to liquidate subsidiary BSVL, integrate its business | strategic transactions | high | — | — |
| 26 Aug 2026 · Mankind Pharma to liquidate BSVL subsidiary and integrate its business | strategic transactions | high | — | — |
| 22 Aug 2026 · Mankind Pharma ESG rating upgraded to 64 from 57, moves to Strong category | general | low | — | — |
| 20 Aug 2026 · Mankind Pharma secures exclusive India rights for two insulin analogues | compliance | low | — | — |
| 19 Aug 2026 · Mankind Pharma postal ballot for appointment of independent director | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 18.0 |
| 12.4 |
| 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 46.1 | 28.9 | 126 of 169 | 26% |
| P/B | 5.7 | 3.3 | 126 of 163 | 23% |
| ROCE | 10.8 | 10.8 | 92 of 183 | 50% |
| ROE | 11.7 | 10.4 | 72 of 171 | 58% |
| Debt / Equity | 0.4 | 0.1 | 127 of 171 | 26% |
| EBITDA margin | 27.3 | 17.5 | 44 of 165 | 74% |
| Revenue growth | 12.9 | 16.3 | 88 of 161 | 46% |
| Profit growth | 29.1 | 30.9 | 82 of 158 | 48% |
| Market cap | 94164 | 839 | 10 of 182 | 95% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
