Mankind Pharma Q2 PAT jumps over 37% to Rs 716 crore

Mankind Pharma reported a 37.7% year-on-year (YoY) increase in consolidated profit after tax (PAT) to ₹716 crore in Q2 FY27, compared with ₹520 crore in the corresponding quarter last year. Revenue from operations grew 17.3% to ₹4,338 crore during the July-September quarter, up from ₹3,697 crore a year earlier.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 27.2% to ₹1,175 crore from ₹924 crore in Q2 FY26. EBITDA margin improved by 210 basis points to 27.1%, while PAT margin expanded by 240 basis points to 16.5%.

Mankind Pharma’s domestic business, excluding consumer healthcare, recorded 15.9% YoY revenue growth to ₹3,428 crore. Including consumer healthcare, domestic revenue increased 14.8% to ₹3,657 crore. The company said its domestic business outperformed the Indian Pharmaceutical Market (IPM), with secondary sales growing 15.7% during the quarter against industry growth of 14.2%.

Growth across therapeutic segments supported the domestic business. Within its chronic portfolio, the cardiac segment grew 18.7%, while anti-diabetes recorded growth of 15.8%. In the acute portfolio, gastroenterology expanded 19%, and the vitamins, minerals and nutrition (VMN) segment grew 26%, according to the company.

Consumer healthcare revenue rose 1.2% to ₹229 crore. Mankind Pharma attributed the relatively muted growth to slower category offtake across the industry and regional factors affecting eastern and southern markets. However, modern trade and e-commerce strengthened their contribution to the consumer healthcare business, accounting for 18% of revenue in Q2 FY27, compared with 12% a year earlier. The channels recorded growth of 55% during the period.

The company’s international business continued to record stronger growth, with revenue rising 32.7% year on year to ₹681 crore from ₹513 crore in Q2 FY26. Mankind Pharma said the increase was driven by its international businesses across both Mankind and Bharat Serums and Vaccines (BSV). During the quarter, it launched one new product in the US, taking the total number of products launched in the market to 50.

The company also highlighted its acquisition of Armed Cell Therapeutics, marking its entry into next-generation chimeric antigen receptor T-cell (CAR-T) therapies. The acquisition is expected to strengthen its research and development capabilities.

For the first half of FY27, revenue from operations increased 15.1% year on year to ₹8,368 crore. EBITDA rose 26% to ₹2,235 crore, while PAT increased 33.7% to ₹1,290 crore. EBITDA margin expanded by 230 basis points to 26.7%, compared with 24.4% in the corresponding period last year.

Domestic revenue for H1 FY27 grew 12.7% to ₹7,082 crore, while export revenue increased 31% to ₹1,286 crore. Mankind Pharma said its performance during the six-month period reflected strong domestic demand, growth in international markets and improving operating margins.