Mankind Pharma shares key business developments from Q2 & H1 of FY27

Mankind Pharma’s domestic revenue, excluding consumer healthcare, increased 15.9% year-on-year in Q2 FY27, supported by double-digit growth in the specialty businesses of Mankind and Bharat Serums and Vaccines (BSV), the company announced on October 26.

Secondary sales grew 15.7%, exceeding the Indian Pharmaceutical Market’s (IPM) growth of 14.2% and representing 1.1 times the market’s growth rate.

The company outperformed the market by 1.1 times in both chronic and acute therapies. Cardiac and anti-diabetes brands registered growth of 18.7% and 15.8%, respectively. In acute therapies, gastroenterology grew at 1.3 times the market rate, while vitamins, minerals and nutrients (VMN) expanded at 1.4 times that rate.


Anti-infectives also showed an improvement, with growth accelerating to 5.4% in Q2 FY27 from 3.6% in the preceding quarter.

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Several key brands recorded strong growth. Among acute therapies, Pantakind grew 31%, Dydroboon 19%, Cefakind CV 18% and Nurokind LC 18%. In chronic treatments, Pangraf expanded 60%, Placida 28%, Telmikind AM 16% and Glizid M 15%.

BSV’s key brands also delivered healthy growth, with Humog rising 51%, Lonopin 45%, Anti D 37% and ASVS 45%.

The number of brands generating annual sales of more than ?50 crore increased to 63 in the moving annual total (MAT) for September 2026, from 54 in FY26. Brands with sales exceeding Rs 100 crore rose to 26 from 22.

Mankind Pharma retained its No. 1 ranking for the ninth consecutive year, with a prescription share of 15.2% and prescriber penetration of 84.4% in MAT August 2026.

Consumer healthcare and exports

The consumer healthcare business faced slower category-level offtake across the industry, along with regional weakness in eastern and southern markets. Despite the subdued growth environment, the company gained market share in key brands, including Manforce and Preganews.

Modern trade and e-commerce contributed 18% of the business in Q2 FY27, up from 12% a year earlier, supported by growth of 55%. Secondary sales of Preganews and Ova News increased 14% and 10%, respectively, during the quarter.

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International revenue grew 33% year-on-year in Q2 FY27, driven by strong performance from both Mankind and BSV’s overseas businesses. Mankind launched one new product in the US during the quarter, taking its cumulative number of product launches in the market to 50.

Q2 highlights

Mankind Pharma reported double-digit revenue growth across its domestic and international businesses in the September quarter, alongside an improvement in profitability, as its specialty portfolio and exports supported performance.

The pharmaceutical company’s revenue from operations rose 17.3% year-on-year to Rs 4,338 crore in Q2 FY27. Earnings before interest, taxes, depreciation and amortisation (EBITDA) margin expanded 210 basis points to 27.1%, while profit after tax (PAT) margin improved 240 basis points to 16.5%.

Diluted earnings per share (EPS), with a face value of Re 1, increased 38.9% year-on-year to Rs 17.2.

For the first half of FY27, revenue from operations grew 15.1% to Rs 8,368 crore. Domestic revenue rose 12.7% to Rs 7,082 crore, while exports increased 31% to Rs 1,286 crore.

EBITDA margin for the six-month period widened 230 basis points to 26.7%, and PAT margin advanced 210 basis points to 15.4%. Diluted EPS climbed 34.6% year-on-year to Rs 30.9.