Mankind Pharma Submits SEBI Compliance Certificate for Q4FY26

Mankind Pharma Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, in accordance with SEBI regulatory requirements. The pharmaceutical company submitted the mandatory documentation to both BSE Limited and National Stock Exchange of India Limited on April 6, 2026.

Regulatory Compliance Details

The certificate was submitted pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018. This regulation requires companies to provide quarterly confirmations regarding share transfer activities through their designated registrar and transfer agents.

Parameter:	Details
Reporting Period:	January 01, 2026 to March 31, 2026
Quarter:	Q4FY26
Filing Date:	April 6, 2026
Registrar:	KFin Technologies Limited

Certificate Confirmation

KFin Technologies Limited, serving as the Registrar and Share Transfer Agent for Mankind Pharma, issued the compliance certificate confirming specific operational details for the quarter. The certificate was signed by Dnyanesh Gharote, Vice President at KFin Technologies Limited.

The registrar confirmed that during the period from January 01, 2026, to March 31, 2026, no requests for dematerialisation or rematerialisation of shares were received. This information is required under Regulation 74(5) of SEBI (Depositories and participants) Regulations 2018.

Corporate Filing Process

The submission was made by Hitesh Kumar Jain, Company Secretary and Compliance Officer of Mankind Pharma Limited. The digital signature on the filing was executed on April 6, 2026, at 14:57:13 +05'30', ensuring proper authentication of the regulatory document.

This quarterly filing represents part of the company's ongoing compliance obligations with securities market regulations, maintaining transparency in share transfer operations and depositories management.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.21%	+4.03%	-3.90%	-16.15%	-10.15%	+46.17%

Mankind Pharma has received positive coverage from Morgan Stanley, with the global investment bank initiating an Overweight rating on the pharmaceutical company's stock. The brokerage has set an ambitious target price of Rs 2500, reflecting confidence in the company's growth trajectory and market positioning.

Financial Growth Projections

Morgan Stanley's bullish stance is underpinned by robust financial projections for Mankind Pharma. The investment bank anticipates strong performance metrics that position the company favorably in the pharmaceutical sector.

Growth Metric	Projected Rate
Revenue CAGR	11%
EPS CAGR	~25%
IPM Growth	11-12%

Key Growth Drivers

The Overweight rating is supported by several strategic factors that Morgan Stanley believes will drive superior returns. The domestic pharmaceutical market recovery represents a significant opportunity for Mankind Pharma to expand its market share and revenue base.

The analysis also highlights the potential optionality from Bharat Serums and Vaccines, which could provide additional growth avenues for the company. This strategic positioning aligns with the broader Indian Pharmaceutical Market growth expectations of 11-12%, creating a favorable operating environment.

Investment Outlook

Morgan Stanley's initiation of coverage with an Overweight rating reflects the brokerage's confidence in Mankind Pharma's ability to deliver superior risk-reward outcomes. The combination of projected revenue growth, earnings expansion, and market recovery creates a compelling investment proposition according to the analysis.

The Rs 2500 target price represents Morgan Stanley's assessment of the company's fair value based on the anticipated growth drivers and market dynamics in the pharmaceutical sector.