Mankind Pharma Limited

NSE: MANKINDPharmaceuticals

Share price

₹2,380.00

-4.80% close of 8 Oct 2026

Market cap ₹97,580 CrP/E 45.7

Business score

How strong the business is, in one number. The parts behind it are in Pro.

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹97,580 Cr

P/E ratio

45.7

P/B ratio

6.0

ROCE

13.5%

ROE

13.1%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹2,617.9052-week low ₹1,927.40

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 14.2% over the past year, and 18.0% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 22.7% to 26.0% over the last three years.

Whether it grew faster than its sector

It grew 18.0% a year against a sector median of 13.1% — 5.0 percentage points faster.

Room to re-rate, or risk of de-rating

At 45.7× earnings it costs 1.9× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 78.7×, across 5 companies. It is against its own five-year median of 51.2×, the 12th percentile of its own range.

Whether growth justifies the valuation

Priced at 2.7 times its growth rate, on earnings growth of 17%.

	Profit growth	Price per ₹1 profit	Per 1% growth
Mankind Pharma Limited — this one	17%/yr	45.7×	₹2.7
Sun Pharmaceutical	13%/yr	33.4×	₹2.6
Divi's Laboratories	13%/yr	83.3×	₹6.4
Torrent Pharmaceuticals	22%/yr	78.7×	₹3.6
Zydus Lifesciences	32%/yr	23.1×	₹0.72
Laurus Labs Limited	4%/yr	98.6×	₹24.7

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Pharmaceuticals), it ranks 69 of 130 on returns, 26 of 127 on growth, 40 of 130 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 13.5% on capital, ahead of 47% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹10419 crore of cash from the business and spent ₹4802 crore on plant and equipment, with ₹5617 crore to spare; it still raised ₹7150 crore mostly borrowed — borrowings rose from ₹873 crore to ₹6312 crore. And the profit is real: of every 100 rupees it reported over 7 years, about 115 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back faster than it used to: it went from being waiting 24 days for its cash to paid 40 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Profit margin reached 26.3%, inside the 25.5-26.5% promised for the year

Announced 30 Jul 2026 · Consolidated

Revenue

₹4,031 Cr

Revenue vs last year

+12.9%

Revenue vs last quarter

+17.1%

Net profit

₹574 Cr

Profit vs last year

+29.0%

Profit vs last quarter

+2.7%

Net margin

14.2%

EPS

₹13.76

Earnings call transcript · 30 Jul 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap: ₹97,580 Cr
Prev close: ₹2,380.00
52w High: ₹2,642
52w Low: ₹1,910
Enterprise value: ₹1.02L Cr
Beta: 0.6
Price CAGR 1y: 2.0%
Price CAGR 3y: 12.0%
Price CAGR 5y: —
Price CAGR 10y: —

Ratios

Return on assets: 7.0%
PEG ratio: 2.7
P/E ratio: 45.7
P/B ratio: 6.0
EV / EBITDA: 26.6
Industry P/E: 38.0
ROCE: 13.5%
ROCE 5y average: 22.2%
ROE: 13.1%
Debt / Equity: 0.4
Interest coverage: 4.6
Dividend yield: 0.0%
ROE 3y average: 16.0%
ROE last year: 13.0%

Annual P&L

Annual revenue: ₹14,278 Cr
Annual profit: ₹1,938 Cr
Operating margin: 25.0%
Net profit margin: 13.6%
EBITDA margin: 25.4%
Sales growth 3y: 17.7%
Sales growth 5y: 18.1%
Profit growth 3y: 17.0%
Profit growth 5y: 11.0%
EPS: ₹46.3
Sales growth TTM: 14.0%
Profit growth TTM: 13.0%
Dividend payout: 2.0%

Quarter P&L

Sales latest quarter: ₹4,031 Cr
Profit latest quarter: ₹574 Cr
YoY quarterly sales growth: 12.9%
YoY quarterly profit growth: 29.0%
OPM latest quarter: 26.2%

Balance Sheet

Book Value: ₹398
Face Value: ₹1.0
Total debt: ₹6,312 Cr
Total cash: ₹483 Cr
Borrowings: ₹6,312 Cr
Reserves / Equity: 396.6

Cash Flow

Operating cash flow: ₹3,121 Cr
Free cash flow: ₹2,387 Cr
FCF yield: 1.8%
Net cash flow: -₹12 Cr

Shareholding

Promoter holding: 72.6%
FII holding: 9.4%
DII holding: 15.4%
Public holding: 2.5%

Peer comparison

Company	Price ₹	P/E	Mkt cap ₹ Cr	Div yield %	Profit qtr ₹ Cr	Profit var %	Sales qtr ₹ Cr	Sales var %	ROCE %
Sun Pharma.Inds.	1,787.00	33.9	4,28,761	0.90	2,901.2	6.0	15,299.9	10.5	20.5
Divi's Lab.	9,548.50	85.0	2,53,483	0.31	902.0	65.5	3,080.0	27.8	22.0
Torrent Pharma.	4,709.30	80.3	1,79,127	0.81	566.0	5.8	4,921.0	54.9	15.2
Zydus Lifesci.	1,144.30	23.4	1,14,144	0.09	990.2	-35.1	8,017.0	22.0	21.1
Laurus Labs	2,043.70	101.0	1,10,424	0.10	362.1	125.5	2,026.3	29.1	17.8
Cipla	1,325.75	29.9	1,07,103	0.98	785.6	-39.2	7,119.3	2.3	15.5
Mankind Pharma	2,470.10	47.8	1,02,026	0.04	574.1	29.6	4,030.6	12.9	13.5
Median	415.10	34.7	2,164	0.07	13.2	29.6	162.4	18.6	15.0

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026

Line item	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	2,579	2,708	2,607	2,422	2,868	3,061	3,199	3,079	3,570	3,697	3,567	3,443	4,031
Expenses	1,924	2,025	2,000	1,836	2,196	2,214	2,383	2,396	2,724	2,776	2,648	2,513	2,974
Material Cost								554	586	594	553	555	685
Change in Inventories								-90	63	55	13	-95	-134
Purchases of Stock-in-Trade								411	405	413	412	498	547
Employee Cost								716	783	825	824	752	914
Other Expenses								805	887	888	846	803	963
Operating Profit	655	683	606	586	672	847	816	683	847	921	919	930	1,056
OPM %	25	25	23	24	23	28	26	22	24	25	26	27	26
Other Income	63	63	75	94	108	109	87	249	83	94	-31	94	49
Exceptional items (within Other Income)								0	0	0	-107	-23	0
Interest	6	9	9	9	11	7	221	191	171	170	157	142	110
Depreciation	87	96	110	100	103	100	187	231	219	222	223	223	226
Profit before tax	624	641	562	572	666	849	495	511	540	624	509	659	769
Tax %	21	20	18	17	18	22	22	17	18	17	19	15	25
Net Profit	494	511	460	477	543	659	385	425	445	520	414	559	574
EPS in Rs	12	13	11	12	13	16	9.22	10	11	12	9.90	13	14
Diluted EPS in Rs								10	11	12	9.89	13	14

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026

Line item	Mar 2015	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	3,334	5,865	6,214	7,782	8,749	10,260	12,207	14,278	14,738
Expenses	2,748	4,427	4,565	5,791	6,848	7,743	9,182	10,653	10,911
Material Cost							2,016	2,288
Change in Inventories							-183	36
Purchases of Stock-in-Trade							1,656	1,728
Employee Cost							2,692	3,184
Other Expenses							3,008	3,424
Operating Profit	586	1,438	1,649	1,991	1,902	2,517	3,026	3,625	3,827
OPM %	18	25	27	26	22	25	25	25	26
Other Income	76	122	183	210	141	295	548	238	207
Exceptional items (within Other Income)							0	-130
Interest	2	23	21	60	46	34	432	639	579
Depreciation	39	99	119	167	326	378	621	886	893
Profit before tax	621	1,438	1,692	1,975	1,671	2,399	2,516	2,333	2,562
Tax %	29	27	24	26	22	19	20	17
Net Profit	445	1,056	1,293	1,453	1,310	1,942	2,011	1,938	2,068
EPS in Rs	219	26	32	36	32	48	48	46	49
Diluted EPS in Rs							49	46
Dividend Payout %	0	0	24	0	0	0	0	2

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years: —
5 years: 18%
3 years: 18%
TTM: 14%

Compounded profit growth

10 years: —
5 years: 11%
3 years: 17%
TTM: 13%

Stock price CAGR

10 years: —
5 years: —
3 years: 12%
1 year: 2%

Return on equity

10 years: —
5 years: 17%
3 years: 16%
Last year: 13%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	20	40	40	40	40	40	41	41
Reserves	2,035	3,445	4,682	6,115	7,395	9,323	14,291	16,259
Borrowings	0	131	241	873	170	207	8,511	6,312
Other Liabilities	968	1,449	1,397	2,080	2,080	2,313	4,808	5,143
Minority Interest							236	261
Total Liabilities	3,022	5,065	6,360	9,108	9,686	11,883	27,652	27,755
Fixed Assets	316	1,600	1,664	3,588	4,251	4,545	19,005	18,620
CWIP	47	317	372	701	550	282	826	1,128
Investments	959	829	1,512	1,109	1,346	2,568	2,042	1,985
Other Assets	1,700	2,319	2,811	3,709	3,538	4,488	5,780	6,022
Total Assets	3,022	5,065	6,360	9,108	9,686	11,883	27,760	27,755

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated

Line item	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	1,070	1,137	920	1,813	2,152	2,413	3,121
Cash from Investing Activity	-436	-1,222	-1,369	-1,052	-2,081	-12,624	-181
Cash from Financing Activity	-531	-8	605	-740	5	10,233	-2,953
Net Cash Flow	103	-92	156	22	77	22	-12
Free Cash Flow	853	826	-1,423	987	1,771	1,895	2,387

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated

Line item	Mar 2015	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	22	33	19	18	24	30	46	44
Inventory Days	166	175	243	265	188	180	219	193
Days Payable	71	145	137	162	126	90	119	121
Cash Conversion Cycle	117	63	125	121	86	120	146	117
Working Capital Days	56	30	32	24	39	53	-28	-40
ROCE %			37	32	22	26	17	14

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026

Line item	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	77	77	75	75	75	73	73	73	73	73	73	73
FIIs	4.18	6.74	9.87	12	12	13	13	13	13	11	10	9.45
DIIs	4.56	9.78	11	9.94	9.91	11	11	12	12	13	14	15
Public	15	6.97	4.10	3.61	2.86	2.89	2.89	2.75	2.57	2.75	2.63	2.53
No. of Shareholders	1,34,731	1,27,449	1,35,116	1,53,450	1,63,854	1,71,281	1,80,597	1,79,549	1,70,347	1,77,539	1,77,606	1,66,715

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -4.0% (₹2,479.40 → ₹2,380.00)Brick size ₹69.25 (fixed)Bricks 31

Price moved up one brickPrice moved down one brickLast close ₹2,380.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

own market share %

15.20pct

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

4,292inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

R&D as % of revenue

2.40pct

2026-06-30

FY revenue / permanent employees + workers, same basis (calc)

50,95,682inr

2026-03-31

volume growth %

4.70pct

2026-06-30

News

News and filings about Mankind Pharma Limited. Open one to see why it matters.

28 Sept, 22:30 IST · Company event · high impact

Mankind Pharma Limited has reported a change of statutory auditor

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Uses as raw material

Active Pharmaceutical Ingredients
Excipients
Packaging Materials

Buys drug ingredients from

China · bulk APIs / KSMs / intermediates

Buys from

Aarti Drugs Limited · active pharmaceutical ingredients (APIs)
Akums Drugs and Pharmaceuticals Limited · CDMO contract development & manufacturing of formulations
AstraZeneca Pharma India Limited · Symbicort (budesonide/formoterol fumarate) — 5-yr exclusive India distribution & promotion…
Innova Captab Limited · CDMO — formulations contract manufacturing
Kilitch Drugs (India) Limited · contract-manufactured pharmaceutical formulations
Mold-Tek Packaging Limited · pharma packaging containers
North Eastern Carrying Corporation Limited · freight forwarding, PTL/FTL road transportation and 3PL logistics services
Race Eco Chain Limited · Biomass / biofuel briquettes for industrial boilers and co-firing
Sudeep Pharma Limited · pharmaceutical, food and nutrition excipients / specialty mineral ingredients
Supriya Lifescience Limited · active pharmaceutical ingredients (APIs)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector: Healthcare
Industry: Pharmaceuticals
Classification: Healthcare › Pharmaceuticals
ISIN: INE634S01028

Plants

Ambernath Injectables Plant
Behror API Unit
Haridwar Plant · Haridwar, Uttarakhand
Paonta Sahib Plant · Paonta Sahib, Himachal Pradesh
South Sikkim Plant
Udaipur API & Tablet Facility
Vadodara Biotech Plant
Visakhapatnam API Unit

News impact

Big market events that reach Mankind Pharma Limited, and how the effect spreads.

29 Aug, 04:36 IST · Market event · medium impact

Maharashtra FDA cancels the drug sale licences of Cipla Pharma & Life Sciences' Pune carry-and-forwarding depot over labelling, storage and recall failures

Maharashtra's drug regulator shut the licence of one Cipla warehouse near Pune after finding a prescription painkiller wrongly labelled, medicines stored on the floor and a recall not properly carried out - a real black mark for Cipla's paperwork, but it is one distribution depot, not a factory.

Healthcare

Who it hits first

Cipla Pharma & Life Sciences loses the licence to sell and distribute from its Wadki, Pune carry-and-forwarding depot, disrupting supply into part of Maharashtra.
Rs 11.19 lakh of stock was seized and physical stock did not reconcile with computerised records, which is a documentation failure regulators treat seriously.
The mislabelling of Reactin Plus, a Schedule H prescription drug, as an 'analgesic and antipyretic' is the finding most likely to draw follow-up inspections.

Who may gain

Sun Pharma, Dr Reddy's and Mankind Pharma may absorb a small amount of substituted prescription demand in that Maharashtra pocket - a marginal, short-lived gain.

Along the supply chain

Downstream

Stockists and chemists in the districts served by the Wadki depot face short gaps in Cipla products, which they will fill with competing brands until Cipla's alternative depot is licensed and running.

Upstream

A carry-and-forwarding agent sits between the factory and the stockist, so Cipla's own manufacturing plants and its active-ingredient suppliers are unaffected - production continues, only the route to market in one region is blocked.

Where demand moves

Business

Prescription demand does not disappear when a depot closes; chemists in the affected districts simply stock an equivalent molecule from another maker, so a small slice of Cipla's Maharashtra volume shifts to Sun Pharma, Dr Reddy's and Mankind until Cipla reroutes through another depot. This is measured in weeks and in a fraction of a percent of sales.

Capital

Money does not rotate out of pharma on a single-depot action. What it does is re-price compliance risk within the sector - after Sun Pharma's eye-drop recall on 1 August and Dr Reddy's seven US FDA observations on 26 June, investors mark down the names with fresh regulatory findings and hold the ones without.

How it spreads across sectors

Healthcare

State drug regulators are visibly more aggressive - this follows Sun Pharma's recall and hotel licence cancellations by the same official - so compliance cost and inspection risk rise across the sector.

When it plays out

Immediate

A one to two percent knock to Cipla on the headline, with no measurable revenue effect.

Medium term

If this stays a single-depot documentation matter it is forgotten within a quarter. If it becomes a pattern of findings across sites, it starts to affect Cipla's export inspection record, which is where the real money is.

Short term

Watch for whether Maharashtra FDA extends inspections to other Cipla facilities, and how quickly Cipla licenses a replacement depot.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

8 Aug 2025	interim	₹1

Splits, bonuses & buybacks

daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.