Mankind Pharma Q2 results: Profit rises 39% YoY to ₹711 crore as operating margins improve 300 basis points

Mankind Pharma announced its July to September quarter earnings report for the financial year 2026-27, in which the pharmaceutical company reported a 39% increase in its consolidated net profit, with healthy revenue and margin growth in focus of equity market investors.

NSE filings showed that Mankind Pharma’s consolidated net profit surged 39% year-on-year (YoY) to ₹711 crore in the second quarter of FY27, in comparison to ₹512 crore in the corresponding quarter of the previous year.

The company’s revenue from core operations increased 17.3% YoY to ₹4,338 crore in the period under review, compared to ₹3,697 crore in the same quarter of the previous financial year.

Mankind Pharma’s management cited the strong growth in both the company’s domestic and international business (exports) segments as the reason behind the overall growth in revenues for the period under review.

After the positive Q2 earnings, Mankind Pharma’s stock rallied 5.4% to hit an intraday high of ₹2,333.90 apiece before closing at ₹2,312 apiece on Monday’s market, in comparison to ₹2,212.60 apiece at the previous market close.

Investors were focused on the buying cues of the pharma stock against the backdrop of strong financial performance in the September quarter results.

Margin growth in focus

The company filings showed that Mankind Pharma recorded a 300 basis point growth in its operating margin to 30% in the second quarter of FY27, compared to 27% margins in the same period of the previous financial year.

While the operating margins recorded healthy growth, the operating profit or earnings before interest, tax, depreciation, and amortisation (EBITDA) improved 27.2% YoY in the period to ₹1,175 crore, from earlier ₹924 crore levels.

Mankind Pharma’s EBITDA margins expanded 210 basis points to 27.1% in the September quarter, from 25% in the second quarter of the previous financial year.

“Our disciplined execution and strengthening business fundamentals resulted in strong performance. Our recent acquisition of Armed Cell Therapeutics, marks strategic entry into Next-Generation CAR-T therapies, strengthening R&D capabilities for future growth,” the company said in its press release.

Business growth

Both domestic and international business segments for Mankind Pharma registered strong growth, led by volume outperformance in the Indian pharmaceutical market, while the over-the-counter drugs segments witnessed muted growth in the September quarter.

“Domestic revenues increased 15.9% YoY, driven by strong double-digit growth in both Mankind and BSV speciality business,” the company said.

Additionally, the growth in the secondary sales segment also added to the overall increase in domestic revenues in the period.

In the case of the international business, the global revenues increased by 33% in Q2 FY27, driven by strong growth in both Mankind and BSV International. The company also launched one new product in the period, taking the total launched products to 50 in the United States.

Stock up 6.8% YTD

Mankind Pharma shares have delivered 6.8% returns to investors on a year-to-date (YTD) basis, but have lost 6.5% in the last one-month period. NSE data showed that the company’s stock has risen 2.6% in the last one-week period.

In the longer term, Mankind Pharma’s stock has delivered nearly 36% returns to investors in the last three years, but has lost 4.9% in the past one-year period, as per the exchange data.

Shares of Mankind Pharma surged to their 52-week high of ₹2,642 apiece on July 29, 2026, while the 52-week low was at ₹1,909.70 apiece on March 23, 2026.

The pharma company’s market capitalisation (m-cap) was at ₹95,496 crore as of the stock market close on Monday, October 26, 2026.