MANKIND PHARMA Results Analysis-Q2FY2027

MANKIND Financial performance and key operating metrics (Consolidated) : Operating Revenue for Q2FY27 is Rs. 4,338 Crs., 17.33% growth YoY, Total Income is Rs. 4,433 Crs., 16.99% growth YoY, Gross Profit is Rs. 3,134 Crs., 18.92% growth YoY, EBITDA is Rs. 1,171 Crs., 27.13% growth YoY, EBITDA Margin is 27% improved by 208 Basis points YoY, PBT Rs. 929 Crs., 48.89% growth YoY, PAT Rs. 716 Crs., 37.67% growth YoY. On QoQ basis Op. Revenue is up by 7.62%, Total Income is up by 8.76%, EBITDA is up by 10.89%, PBT is up by 20.75% PAT is also up by 24.74%. Strong growth in base business as well as BSV speciality business. Margin growth is due to price hikes, richer chronic mix, lower R&D, operating leverage. Net debt ₹2,639 cr; net debt/adj EBITDA 0.6x. Company reiterated intent to reduce acquisition related debt by FY28. Domestic revenue: ₹3,657 cr, +14.8% YoY; with “16% growth in mankind core domestic, ex-consumer” and “mid-teen growth in BSV domestic,” partially offset by softer consumer. International revenue: ₹680 cr, +33% YoY. Growth decomposition: driven by both Mankind and BSV, supported by “branded specialty products and new US launches.”