Mankind Pharma Reports 20.8% Revenue Growth in Q2 FY26, Driven by Chronic Segment and BSV Integration

Mankind Pharma , India's fourth-largest pharmaceutical company, has reported a robust 20.8% year-over-year revenue growth for the second quarter of fiscal year 2026, reaching INR 3,697.00 crore. The company's performance was primarily driven by strong growth in its chronic segment and the successful integration of Bharat Serums and Vaccines Limited (BSV).

Financial Highlights

Revenue from operations increased by 20.8% YoY to INR 3,697.00 crore
Domestic revenue grew by 14.5% to INR 3,184.00 crore
EBITDA rose by 8.7% to INR 924.00 crore, with a margin of 25.0%
Profit After Tax (PAT) stood at INR 520.00 crore, with a margin of 14.1%

Segment Performance

Domestic Business

The domestic business, which contributes 86% of total revenue, showed strong growth:

Domestic revenue increased by 14.5% YoY
Chronic segment outperformed with 1.3x growth in Cardiac and 1.2x in Anti-Diabetics
Improved ranking to #4 in Anti-diabetes segment
Maintained #1 rank in prescriptions with a 15.3% share

Consumer Healthcare

The consumer healthcare segment faced some challenges:

Revenue declined by 3% YoY due to supply chain disruptions and uneven monsoon
Modern Trade & E-commerce share increased to 12% in H1 FY26
Strong secondary sales growth for key brands like Gas-o-fast (36% YoY) and Manforce Condom (14% YoY)

Exports

The export business showed significant growth:

Revenue increased by 82.6% YoY, primarily due to BSV consolidation
Mankind (excluding BSV) launched 3 new products in the US market

Strategic Developments

Mr. Rajeev Juneja, Vice Chairman & Managing Director, commented on the results: "Mankind's revenue increased by 20.8% supported by outperformance in Chronic and BSV consolidation, partially impacted by GST disruption. While chronic continued an outperformance led by 1.3x and 1.2x in Cardiac and Anti-diabetes respectively, OTC was impacted due to heavy rains along with GST 2.0 and we expect growth recovery in H2. BSV growth initiatives progressing well - with double digit sequential growth led by mandate brands."

The company remains focused on four key growth pillars:

Steady base business
Fast-growing specialty chronic segment
High-potential OTC business
Super specialty BSV portfolio

Outlook

Mankind Pharma is confident in delivering sustainable long-term growth through its diversified portfolio and strategic initiatives. The company's focus on expanding its chronic segment, integrating BSV's super specialty portfolio, and recovering its OTC business positions it well for future growth in the Indian pharmaceutical market.

Despite challenges such as GST disruptions and uneven monsoons affecting certain segments, Mankind Pharma's overall performance demonstrates its resilience and ability to capitalize on growth opportunities in the pharmaceutical sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.05%	-5.13%	-8.82%	-7.01%	-17.06%	+59.02%

Mankind Pharma , a prominent player in the Indian pharmaceutical sector, has announced its financial results for the quarter and half year ended September 30, 2025, showcasing significant revenue growth.

Key Financial Highlights

Metric	Q2 FY2026	Q2 FY2025	Change
Revenue from Operations	₹2,608.78	₹2,261.43	+15.4%
Net Profit	₹458.90	₹362.68	+26.5%
Earnings Per Share	₹11.10	₹10.00	+11.0%

Revenue Growth and Profit Increase

Mankind Pharma demonstrated strong financial performance in the second quarter of FY2026. The company reported revenue from operations of ₹2,608.78 crores, representing a 15.4% increase from ₹2,261.43 crores in the same quarter of the previous year. This substantial rise in revenue indicates robust demand for the company's pharmaceutical products.

The company's bottom line also showed significant improvement. The net profit for Q2 FY2026 stood at ₹458.90 crores, marking a 26.5% increase from the ₹362.68 crores reported in the same quarter of the previous year.

Half-Year Performance

For the six-month period ended September 30, 2025, Mankind Pharma's revenue reached ₹4,956.80 crores, compared to ₹4,497.80 crores in the corresponding period of the previous year, indicating continued growth momentum.

Earnings Per Share

The company's earnings per share (EPS) for the quarter improved to ₹11.10, up from ₹10.00 in the prior year quarter, reflecting an 11% increase.

Corporate Governance

The Board of Directors approved these unaudited standalone and consolidated financial results at their meeting held on November 6, 2025, demonstrating the company's commitment to timely financial reporting and transparency.

Ongoing Legal Proceedings

Mankind Pharma continues to face ongoing income tax proceedings initiated by the Income Tax Department under Section 132 of the Income Tax Act, 1961. The company has noted that appeals are currently pending with appellate tax authorities.

The strong financial performance, particularly in revenue growth and profitability, positions Mankind Pharma favorably in the pharmaceutical market. However, the ongoing tax proceedings may require careful management attention in the coming periods.