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Mankind Pharma

MANKIND NSE
₹2,537.90 +62.90 (+2.54%)
P/E
51.30
View as Markdown
MCP
Close 4 Nov 2026 ₹2,537.90 +228.80 +9.91% 1Y
Start ₹2,309.10

Key Fundamentals

MidcapPharmaceuticals & BiotechnologyHealthcare

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
13.50%
Debt to Equity
0.39
EPS (TTM)
₹49.47
Book Value
₹425.67
Market Cap
—
P/E (TTM)
51.30
P/B
5.96
ROE
13.10%
Dividend Yield
0.04%
EBITDA
₹3,976 Cr
52W High
₹2,642.00
52W Low
₹1,909.70
Day Range
₹2,476.00 – ₹2,540.00
Volume
6,55,420

Peer Comparison

Healthcare › Pharmaceuticals

Mankind Pharma peer comparison
Sun Pharma
₹1,773.4038.81₹4,29,049 Cr4.770.90%16.00%20.50%₹61,631 Cr₹10,987 Cr
Divis Laboratories
₹10,037.5091.10₹2,65,269 Cr15.900.30%16.50%22.00%₹11,230 Cr₹2,925 Cr
Torrent Pharmaceuticals
₹4,738.5078.61₹1,77,061 Cr9.810.82%27.40%15.20%₹17,400 Cr₹2,099 Cr
Zydus Life Science
₹1,188.1026.44₹1,25,446 Cr4.370.08%21.20%21.10%₹28,592 Cr₹4,593 Cr
Laurus Labs
₹2,323.80114.81₹1,25,228 Cr20.720.04%18.30%17.80%₹7,270 Cr₹1,090 Cr
Dr Reddys Laboratories
₹1,374.0035.59₹1,14,543 Cr2.960.58%11.20%13.00%₹33,228 Cr₹3,184 Cr
Cipla
₹1,402.0033.59₹1,12,454 Cr3.200.93%11.60%15.50%₹28,324 Cr₹3,356 Cr
Mankind Pharma (this company)
₹2,537.9051.30₹1,03,220 Cr5.960.04%13.10%13.50%₹14,738 Cr₹2,067 Cr
Median 8 companies₹2,048.6045.06₹1,25,337 Cr5.370.44%16.25%16.65%₹22,862 Cr₹3,055 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

47 Average

Data confidence 100/100

Category scores

Quality
76
Strong
Returns, margins, earnings quality 22% weight
Valuation
51
Average
Cheap vs sector & own history 24% weight
Growth
37
Poor
Sales & profit trajectory 9% weight
Financial Health
32
Poor
Solvency, leverage, coverage 9% weight
Momentum
27
Poor
Trend strength, vol-adjusted 12% weight
Ownership
41
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -3.87%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3412
OscillatorsBearish342
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
61.35
Neutral
MACD (12,26,9)
26.56
Bullish
SMA (50)
2,389.15
Bullish
SMA (200)
2,316.89
Bullish

As of

Analyst Rating

Based on 19 analysts
BUY63%

12 of 19 analysts rate Buy, 4 Hold, 3 Sell.

As of

BUY
12
63%
HOLD
4
21%
SELL
3
16%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10YIrregular period
5Y+18.10%
3Y+17.73%
1Y+16.97%
TTM+14.17%

Net profit

Net profit growth by window
10YIrregular period
5Y+8.43%
3Y+13.94%
1Y−3.63%
TTM+7.99%

Operating cash flow

Operating cash flow growth by window
10YIrregular period
5Y+22.38%
3Y+19.85%
1Y+29.34%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YIrregular period
5Y−1.15 pp
3Y+3.65 pp
1Y+0.60 pp
TTM+1.23 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2015₹3,334 Cr
Mar 2020₹5,865 Cr
Mar 2021₹6,214 Cr
Mar 2022₹7,782 Cr
Mar 2023₹8,749 Cr
Mar 2024₹10,260 Cr
Mar 2025₹12,207 Cr
Mar 2026₹14,278 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2015₹445 Cr
Mar 2020₹1,056 Cr
Mar 2021₹1,293 Cr
Mar 2022₹1,453 Cr
Mar 2023₹1,310 Cr
Mar 2024₹1,942 Cr
Mar 2025₹2,011 Cr
Mar 2026₹1,938 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹1,030 Cr −18.9% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk medium

Mankind Pharma Ltd trades at ₹2,475 as of 2026-11-03 with a market cap of ₹1,02,852 crore and a P/E (TTM) of 50.03x. The company has delivered 18% compounded sales growth over five years alongside a debt-to-equity ratio of 0.39, while its stock has returned -2% over the past one year, underperforming relative to its earnings trajectory.

Bull Case 8
  • Consistent top-line expansion with 18% compounded sales growth over both 3-year and 5-year periods, indicating durable revenue momentum in a large addressable domestic pharma market.
  • Compounded profit growth of 17% over three years and 11% over five years demonstrates the company's ability to scale earnings alongside revenue.
  • Debt-to-equity ratio stands at a manageable 0.39, and the company has been actively reducing debt, strengthening balance sheet flexibility for future investments or acquisitions.
  • TTM sales growth of 14% shows continued double-digit revenue expansion in the trailing period, suggesting ongoing business traction.
  • ROCE of 13.78% indicates reasonably efficient capital deployment, supporting the case that incremental capital invested generates adequate returns.
  • Five-year average ROE of 17% reflects a track record of solid shareholder return generation over a meaningful period.
  • The stock is trading roughly 6.3% below its 52-week high of ₹2,642, suggesting it has held up relatively well within its recent trading range and is not at a distressed level.
  • TTM profit growth of 13% alongside TTM sales growth of 14% indicates that margins have been broadly stable in the most recent period, with profits tracking revenue closely.
Bear Case 8
  • P/E (TTM) of 50.03x is elevated for a pharma company, pricing in significant future growth and leaving limited room for earnings disappointments.
  • Price-to-book ratio of 5.81x implies the stock trades at a steep premium to its book value, which could compress if growth decelerates.
  • Promoter holding has declined by 3.87% over the last three years, which may signal reduced insider conviction or dilution-related concerns.
  • Dividend yield of just 0.04% provides virtually no income cushion for shareholders, making total return entirely dependent on capital appreciation.
  • The stock has delivered a -2% return over the past one year despite 13% TTM profit growth, indicating the market has de-rated the stock and compressed its valuation multiples.
  • Last-year ROE of 13% has dropped from the 3-year average of 16% and 5-year average of 17%, suggesting declining return efficiency that could weigh on future valuation.
  • Current ROE of 11.7% as of 2026-11-03 marks a further deterioration from the last-year figure of 13%, extending the downward trend in profitability returns.
  • Three-year stock CAGR of 10% materially lags the 17% compounded profit growth over the same period, reflecting persistent multiple contraction.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Mankind Pharma delivered a standout Q2 FY27 with 39% profit growth, strong margin expansion, and exports beating estimates by a wide margin, driving a 9.3% stock rally. Chronic therapies and international markets are firing on all cylinders, though the OTC consumer segment remains sluggish at just 1.2% growth. The trend is clearly improving, with the key watch item being whether domestic growth momentum sustains beyond the seasonally strong Q2.

Headwinds 2
  • Muted OTC consumer healthcare growth Oct 26

    Over-the-counter consumer healthcare business grew just 1.2% YoY in Q2 FY27, impacted by slower offtake and regional weakness in east and south India.

  • Sustainability of domestic growth unclear Oct 26

    Some analysts flagged that ~16% domestic growth may not be sustainable given the low base, and Q2 is historically a stronger quarter for the company.

Positives 4
  • Q2 profit surges 39% YoY Oct 26

    Consolidated net profit rose 39.2% YoY to ₹712 crore in Q2 FY27, with revenue up 17.3% to ₹4,338 crore and EBITDA margins expanding 210 bps to 27%.

  • Stock jumps 9.3% on results Oct 26

    Shares surged 9.3% to ₹2,527, the biggest single-day gain in nearly two years, with the stock delivering 16.7% returns in 2026 versus a 13.2% decline in Nifty 50.

  • Exports beat estimates at 32.7% growth Oct 26

    International business grew 32.7% YoY to ₹681 crore, well ahead of 15% estimates, with BSV up 34%, US business up 29%, and other markets up 37%.

Neutral 5
  • ₹1,250 crore NCD redemption Oct 16

    Mankind Pharma redeemed ₹1,250 crore in NCDs at maturity on October 16, 2026, and paid ₹149.97 crore gross interest on two debenture series.

  • ESG rating of 71 for FY26 Oct 15

    Mankind Pharma received an independently assigned ESG rating of 71 from NSE Sustainability for FY26 based on public data.

  • Investor conference on Nov 5 Nov 3

    Management will attend an investor conference in Mumbai on November 5, 2026, with one-on-one and group meetings. No unpublished price sensitive information will be disclosed.

Quarterly Results

₹ Cr
MANKIND quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
2,579
2,708
2,607
2,422
2,868
3,061
3,199
3,079
3,570
3,697
3,567
3,443
4,031
4,338
Expenses
1,924
2,025
2,000
1,836
2,196
2,214
2,383
2,396
2,724
2,776
2,648
2,513
2,974
3,167
Operating Profit
655
683
606
586
672
847
816
683
847
921
919
930
1,056
1,171
OPM %
25%
25%
23%
24%
23%
28%
26%
22%
24%
25%
26%
27%
26%
27%
Other Income
63
59.98
70.13
94
108
109
87
249
83
94
−31
94
49
99
Interest
6
9
9
9
11
7
221
191
171
170
157
142
110
105
Depreciation
87
96
110
100
103
100
187
231
219
222
223
223
226
236
PBT
624
638
558
572
666
849
494
511
540
624
509
659
769
929
Tax %
21%
20%
18%
17%
18%
22%
22%
17%
18%
17%
19%
15%
25%
23%
Net Profit
494
511
460
477
543
659
385
425
445
520
414
559
574
716
EPS (₹)
12.15
12.51
11.33
11.76
13.39
16.31
9.22
10.2
10.62
12.39
9.9
13.43
13.75
—

Sep 2026: from the results filed on 26 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
MANKIND profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,334
5,865
6,214
7,782
8,749
10,260
12,207
14,278
14,738
Expenses
2,748
4,427
4,565
5,791
6,848
7,743
9,182
10,653
10,911
Operating Profit
586
1,438
1,649
1,991
1,902
2,517
3,026
3,625
3,827
OPM %
18%
25%
27%
26%
22%
25%
25%
25%
26%
Other Income
76
122
183
210
141
295
548
238
207
Interest
2
23
21
60
46
34
432
644
579
Depreciation
39
99
119
167
326
378
621
886
893
PBT
621
1,438
1,692
1,975
1,671
2,399
2,521
2,333
2,562
Tax %
29%
27%
24%
26%
22%
19%
20%
17%
—
Net Profit
445
1,056
1,293
1,453
1,310
1,942
2,011
1,938
2,068
EPS (₹)
219
25.72
31.59
35.78
32
47.75
48.26
46.34
49.47
Div. Payout %
0%
0%
24%
0%
0%
0%
0%
2%
—

Balance Sheet

₹ Cr
MANKIND balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
40
40
40
40
40
41
41
Reserves
2,035
3,445
4,682
6,115
7,395
9,323
14,291
16,259
Borrowings
0
131
241
873
170
207
8,511
6,312
Other Liabilities
968
1,449
1,397
2,080
2,080
2,313
4,808
5,143
Total Liabilities
3,022
5,065
6,360
9,108
9,686
11,883
27,652
27,755
Fixed Assets
316
1,600
1,664
3,588
4,251
4,545
19,005
18,620
CWIP
47
317
372
701
550
282
826
1,128
Investments
959
829
1,512
1,109
1,346
2,568
2,042
1,985
Other Assets
1,700
2,319
2,811
3,709
3,538
4,488
5,780
6,022
Total Assets
3,022
5,065
6,360
9,108
9,686
11,883
27,652
27,755

Cash Flow

₹ Cr
MANKIND cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
1,070
1,137
920
1,813
2,152
2,413
3,121
Investing
—
−436
−1,222
−1,369
−1,052
−2,081
−12,624
−181
Financing
—
−531
−8
605
−740
5
10,233
−2,953
Net Cash Flow
—
103
−92
156
22
77
22
−12
Free Cash Flow
—
853
826
−1,423
987
1,771
1,895
2,387
CFO/OP
—
97
96
71
112
103
98
102

Ratios

MANKIND financial ratios, annual
Particulars Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
22
33
19
18
24
30
46
44
Inventory Days
166
175
243
265
188
180
219
193
Days Payable
71
145
137
162
126
90
119
121
Cash Conversion Cycle
117
63
125
121
86
120
146
117
Working Capital Days
56
30
32
24
39
53
−28
−40
ROCE %
—
—
37%
32%
22%
26%
17%
14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Mankind Pharma insights

70 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 72.62%
  • DIIs 15.56%
  • FIIs 9.37%
  • Public 1.26%
  • Others 1.19%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Mankind Pharma

What does Mankind Pharma Ltd do?
Incorporated in 1995, Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations in various acute and chronic therapeutic areas and several consumer healthcare products.
Where is Mankind Pharma Ltd (MANKIND) listed?
Mankind Pharma Ltd trades as MANKIND on the NSE and under code 543904 on the BSE.
Which sector does Mankind Pharma Ltd belong to?
Mankind Pharma Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the PE ratio of Mankind Pharma Ltd?
Mankind Pharma Ltd trades at a PE ratio of 51.30 as of 4 Nov 2026, on earnings per share of ₹49.47, against a book value of ₹425.67 per share.
What is the 52-week high and low of Mankind Pharma Ltd?
Over the last 52 weeks Mankind Pharma Ltd has traded between ₹1,909.7 and ₹2,642 as of 4 Nov 2026.
Does Mankind Pharma Ltd pay dividends?
Mankind Pharma Ltd has a dividend yield of 0.04%.
What is the Return on Equity (ROE) of Mankind Pharma Ltd?
Mankind Pharma Ltd reported a return on equity of 13.10%. Its debt-to-equity ratio is 0.39.

Company Information

Incorporated in 1995, Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations in various acute and chronic therapeutic areas and several consumer healthcare products.

Website mankindpharma.com
Listed 9 May 2023
Face Value ₹1

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