Mankind Pharma Reports Q4 FY26 and FY26 Results; Revenue Rises 17.0% YoY
Mankind Pharma, India's fourth largest pharmaceutical company, announced its financial results for the fourth quarter (Q4) and the full year (FY) ended March 31, 2026. The company reported an 11.8% year-over-year (YoY) rise in revenue for Q4 FY26, with the adjusted EBITDA margin reaching 27.1%.According to the company, the overall domestic business grew by approximately 13%, driven by strong performance in the cardiac and anti-diabetes segments. The Over The Counter (OTC) business saw a 20% growth, spearheaded by strong e-commerce performance. The international business, however, experienced muted growth due to geopolitical headwinds.
Management noted that the company is focusing on four key pillars for sustained growth: the steady base business, fast-growing specialty chronic therapies, the high potential OTC business, and the super specialty BSV portfolio.
Financial Highlights (INR Crore)
Mankind Pharma's financial performance for the quarter and the full year showed significant growth in revenues and margins.The following table summarizes the consolidated financial results:
| Metric | Q4 FY26 | Q4 FY25 | YoY% Change | FY26 | FY25 | YoY% Change |
|---|---|---|---|---|---|---|
| Revenue from Operations | 3,443 | 3,079 | 11.8% | 14,278 | 12,207 | 17.0% |
| Adjusted EBITDA | 933 | 711 | 31.1% | 3,629 | 3,159 | 14.9% |
| Adjusted EBITDA Margin | 27.1% | 23.1% | 400 bps | 25.4% | 25.9% | (50 bps) |
| PAT | 559 | 429 | 30.4% | 1,938 | 2,007 | -3.4% |
| Diluted EPS (INR) | 13.4 | N/A | 30.3% | 46.3 | 49.1 | -5.7% |
Quarterly and Annual Revenue Breakdown
Revenue from Operations for the full year 2026 reached INR 14,278 Crore, marking a 17.0% increase over FY25. For Q4 FY26, the total revenue was INR 3,443 Crore, up 11.8% YoY.Analyzing the segment contributions reveals a strong performance in domestic and export markets:
| Segment | Q4 FY26 Revenue (INR Crore) | Q4 FY25 Revenue (INR Crore) | YoY% Change | FY26 Revenue (INR Crore) | FY25 Revenue (INR Crore) | YoY% Change |
|---|---|---|---|---|---|---|
| Domestic | 2,886 | 2,544 | 13.4% | 12,217 | 10,675 | 14.4% |
| Exports | 557 | 535 | 4.2% | 2,061 | 1,532 | 34.5% |
Domestic Business Deep Dive
The domestic revenue saw a 13.4% increase YoY in Q4 FY26. The company reported strong double-digit growth in the core Mankind business, supported by the BSV specialty sector.Key areas of growth included:
- Chronic Care: The segments of Cardiac (14.7%) and Anti-diabetes (11.6%) contributed significantly, contributing to a 120 basis points (bps) YoY increase in the chronic share to approximately 40%.
- Acute Therapies: There was a sequential growth recovery observed in key acute therapies like Gastro, VMN, and Derma.
- Consumer Healthcare: Revenue growth in the OTC segment reached 20% YoY in Q4 FY26, mainly driven by Manforce, Prega News, and Gasofast.
- BSV: The key brands in the BSV segment maintained healthy growth, with Foligraf growing by 52%, HMG by 40%, Ossopan by 72%, and Lactare by 46%.
International and Other Segments
International business recorded a muted growth of 4% YoY in Q4 FY26, which was attributed to geopolitical headwinds. On the product front, Mankind (excluding BSV) launched four new products in FY26, bringing the total number of launched products in the US to 48.MANKIND Stock Price Movement
On Tuesday, Mankind Pharma Limited shares slipped by 1.03% to settle at ₹2492.6. The stock traded on a volume of 574,210 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.
Last edited by a moderator: