Mankind Pharma profit rises 38% as margins expand

Research Analyst: UJVIN NEVATIA (PROPRIETOR: NEVAT INVESTMENTS) | SEBI Registration No.: INH100009628 Mankind Pharma Limited (

) reported consolidated net profit of ₹716 crore in Q2 FY27, up 37.7% year-on-year from ₹520.2 crore. Revenue from operations grew 17.3% to ₹4,337.9 crore. What happened? EBITDA increased 27.2% to ₹1,175 crore, while the EBITDA margin expanded by 210 basis points to 27.1%. Domestic revenue, excluding consumer healthcare, grew 15.9%, supported by demand for chronic therapies. Cardiac and anti-diabetes medicines recorded strong growth. Export revenue increased 32.7% to ₹681 crore, while the consumer healthcare business grew a modest 1.2%. Why does it matter? Profit grew faster than revenue, indicating improved operating leverage and stronger margins. Domestic pharmaceutical demand and export growth supported performance, although the slower consumer healthcare business remains an area to monitor. My view The quarter reflects healthy growth across core pharmaceuticals and international markets, alongside improved profitability. The key challenge is sustaining margin expansion while strengthening consumer healthcare and integrating newer businesses. What I am watching next I would track domestic volume growth, chronic therapy performance, export growth, consumer healthcare sales and EBITDA margins to assess the sustainability of earnings. No Recommendations Source: The Economic Times Disclosure: I, my entity, associates or relatives do not have any holding, position or other material interest in Mankind Pharma Limited.