Mankind Pharma Limited Earnings Summary — Q4 FY2026
Mankind Pharma Achieves Robust Revenue Growth and Margin Expansion Amid Strategic Deleveraging
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.”
Earnings Call Transcript — Q4 FY2026
Open original\[Image: Im2\] May 26, 2026 BSE Limited P J Towers, Dalal Street, Mumbai – 400 001 National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 543904 Symbol: MANKIND Dear Sir/ Madam, Subject: Investor Conference Call for Q4 & FY26 – Transcript Ref.: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Pursuant to Regulation 30 of the Listing Regulations, please find enclosed the transcript of the Investor Conference Call for Q4 & FY26 held on Wednesday, May 20, 2026 at 12:00 Noon. (IST). The transcript is also available on the website of the Company at [www.mankindpharma.com](http://www.mankindpharma.com/). You are requested to kindly take the same on records. Thanking You, For Mankind Pharma Limited HITESH KUMAR JAIN KUMAR JAIN Digitally signed by Hitesh Kumar Jain Company Secretary & Date: 2026.05.26 Company Secretary & Compliance Officer Encl.: A/a * * * # “Mankind Pharma Limited Q4 FY26 Earnings Conference Call” # May 20, 2026 ## MANAGEMENT: MR. RAJEEV JUNEJA – VICE CHAIRMAN AND MANAGING DIRECTOR ## MR. SHEETAL ARORA – CHIEF EXECUTIVE OFFICER ### AND WHOLE-TIME DIRECTOR ## MR. SUDIPTA ROY – SENIOR PRESIDENT, SALES AND MARKETING ## MR. ARJUN JUNEJA – CHIEF OPERATING OFFICER MR. ASHUTOSH DHAWAN – GLOBAL CHIEF FINANCIAL ## OFFICER MR. PRAKASH AGARWAL – PRESIDENT STRATEGY ## MR. ABHISHEK AGARWAL – HEAD INVESTOR RELATIONS ### Page 1 of 18 * * * Moderator: Ladies and gentlemen, good day, and welcome to Mankind Pharma Limited Q4 FY26 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Please note that this meeting is being recorded. I now hand the conference over to Mr. Abhishek Agarwal from Mankind Pharma Limited. Thank you, and over to you, sir. Abhishek Agarwal: Good afternoon, everyone. We welcome you to our fourth quarter FY26 earnings call. On call today we have Mr. Rajeev Juneja, our Vice Chairman and Managing Director; Mr. Sheetal Arora, Chief Executive Officer and Whole-Time Director; Mr. Arjun Juneja, Chief Operating Officer; Mr. Sudipta Roy, Senior President, Sales and Marketing; Mr. Ashutosh Dhawan, Global Chief Financial Officer; and Mr. Prakash Agarwal, President, Strategy. We will begin today's discussion with Mr. Rajeev Juneja providing quarterly and annual update, followed by business insights from Mr. Sheetal Arora. Thereafter, Mr. Ashutosh Dhawan will provide a detailed overview of the financial performance before we move on to the Q&A session. Please note that statements made on this call that relates to future events or performance are forward-looking in nature and reflects management current expectations. These statements are subject to various risks and uncertainties, and actual results may differ materially, and Mankind does not undertake any obligation to update or revise these statements in the future. A detailed disclaimer in this regard is included in the investor presentation uploaded on our website. Now I will hand over to Rajeev sir for his remarks. Rajeev Juneja: Thank you, Abhishek, and a very good afternoon to all. Welcome to the quarter 4 and financial year '26 earnings call. In financial year '26, we made steady progress in strengthening our core business while continuing our strategic advancements towards specialisation-led growth. Our focused initiatives towards people, processes and technology, supported by better execution discipline and capability enhancement are now translating into quarter-on-quarter performance improvement. For the financial year 2026, overall domestic revenue increased by 14.4% year-on-year. Moreover, I would like to highlight that our volume growth has increased to 2.3% in financial year '26 versus 0.5% last year, led by strate …
Source: NSE — Latest Concall Transcript
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