Mankind Pharma Limited Earnings Summary — Q4 FY2026
Mankind Pharma Achieves Robust Revenue Growth and Margin Expansion Amid Strategic Deleveraging
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 17.1% sequentially in Q1 FY2027.
- Revenue of ₹4,031 Cr is 12.9% higher year-on-year.
- Revenue has compounded at 25.4% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹568 Cr is 29.6% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 8.7% annualised across the period.
- Operating margin stands at 26.2% in Q1 FY2027.
- Operating margin expanded by 248 bps year-on-year.
- Over the last two years operating margin has expanded by 278 bps.
- PBT margin is 19.1%.
- Expense growth of 9.2% remained below revenue growth of 12.9%.
- Operating profit of ₹1,056 Cr is 24.7% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 76/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 4,031 | 3,443 | 3,567 | 3,697 | 3,570 | 3,079 | 3,199 | 3,061 | 2,868 | 2,422 |
| Expenses | Improving | 2,974 | 2,513 | 2,648 | 2,776 | 2,724 | 2,396 | 2,383 | 2,214 | 2,196 | 1,836 |
| Operating Profit | Improving | 1,056 | 930 | 919 | 921 | 847 | 683 | 816 | 847 | 672 | 586 |
| Operating Margin | Stable | 26.2% | 27.0% | 25.8% | 24.9% | 23.7% | 22.2% | 25.5% | 27.7% | 23.4% | 24.2% |
| Other Income | Volatile | 49 | 94 | -31 | 94 | 83 | 249 | 87 | 109 | 108 | 94 |
| Interest | Volatile | 110 | 142 | 157 | 170 | 171 | 191 | 221 | 7 | 11 | 9 |
| Depreciation | Strong Uptrend | 226 | 223 | 223 | 222 | 219 | 231 | 187 | 100 | 103 | 100 |
| Profit Before Tax | Improving | 769 | 659 | 509 | 624 | 540 | 511 | 495 | 849 | 666 | 572 |
| Tax | Accelerating | 195 | 100 | 95 | 104 | 96 | 86 | 110 | 190 | 123 | 95 |
| Net Profit | Improving | 568 | 554 | 409 | 512 | 438 | 421 | 380 | 653 | 536 | 471 |
| Net Margin | Stable | 14.1% | 16.1% | 11.5% | 13.8% | 12.3% | 13.7% | 11.9% | 21.4% | 18.7% | 19.4% |
Key Takeaways
- Delivered a strong Q4 performance with Net Profit growing 31.5% YoY to ₹559 Cr.
- Operating Profit Margin improved to 27%, showcasing strong pricing power and scale efficiencies.
- Successfully reduced total borrowings from ₹8,511 Cr in FY25 to ₹6,312 Cr in FY26.
- Maintained market leadership as the #1 player by prescriptions and #2 by volume in India.
- Annual sales crossed the ₹14,000 Cr milestone, representing an 18% 5-year CAGR.
- Interest costs remain a drag on PAT growth following the massive debt-funded acquisition phase.
- Consumer health brands like Manforce and Prega News continue to hold dominant #1 positions.
Management Guidance
Management remains focused on integrating high-value acquisitions (BSV) and transitioning toward a more institutionalized leadership structure while maintaining elite operational execution.
Sentiment Shift
Improving
Expansion in operating margins and steady debt reduction offset concerns regarding elevated interest expenses.
Outlook
The company expects to leverage its dominant prescription share and diversified healthcare portfolio to sustain double-digit growth, with a focus on improving ROCE as acquisition debt is retired.
From the Annual Report (Key Quotes)
“Mankind Pharma is a dominant player in the Indian Pharmaceutical Market, ranking #1 in prescriptions.”
“The core business remains a cash engine, but the integration of high-value acquisitions defines the next phase of value creation.”
“Management has demonstrated exceptional vision in building the highest prescription share in India, a moat that is difficult to replicate.”
Official Quarterly Documents
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This summary is AI-generated from Mankind Pharma Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.