Mankind Pharma announced robust financial results for the second quarter and first half of FY27. Revenue surged by 17.3% year-on-year to ₹4,338 crore in Q2 FY27, driven by strong performance in both domestic and specialty businesses. EBITDA also saw significant growth, increasing by 27.2% to ₹1,175 crore, with an improved EBITDA margin of 27.1%.
Mankind Pharma Reports Strong Q2 and H1 FY27 Performance
Mankind Pharma Limited has announced its financial results for the second quarter (Q2) and the first half (H1) of the fiscal year 2027 (FY27), showcasing significant year-on-year growth. The company reported a consolidated revenue of ₹4,338 crore for Q2 FY27, marking a substantial increase of 17.3% compared to ₹3,697 crore in Q2 FY26. This growth was attributed to strong performance across its base business and its specialty segment, BSV.
EBITDA and Margins Surge
EBITDA for the quarter grew by an impressive 27.2% to ₹1,175 crore, up from ₹924 crore in the prior year’s second quarter. Consequently, the EBITDA margin expanded by 210 basis points to 27.1% in Q2 FY27, compared to 25.0% in Q2 FY26. This improvement was driven by gross margin expansion, reduced R&D expenses, and operating leverage due to sales growth.
H1 FY27 Financial Highlights
For the first half of FY27, Mankind Pharma’s revenue increased by 17.3% year-on-year to ₹8,338 crore, with EBITDA margins rising to 26.7% from 24.4% in H1 FY26. The company also reported a 37.7% year-on-year growth in profit after tax (PAT) for Q2 FY27, reaching ₹716 crore, with PAT margins improving to 16.5% from 14.1% in the same quarter last year.
Key Business Drivers and Outlook
The company highlighted strong performance in its domestic business, which grew by 14.8% year-on-year to ₹3,657 crore. International business revenue also saw a significant increase of 33% year-on-year to ₹680 crore. Mankind Pharma’s strategy remains focused on strengthening its core business, scaling chronic and specialty therapies, and investing in future growth platforms. The company expects continued outperformance of the Indian Pharmaceutical Market (IPM) going forward.
Capital Expenditure and Debt Management
Capital expenditure for H1 FY27 was ₹214 crore, lower than the guidance of 6-7% of revenue. The company also reported a reduction in net debt to ₹2,639 crore as of September 30, 2026, with a net debt to adjusted EBITDA ratio of 0.6x. Mankind Pharma remains on track to repay acquisition-related debt by FY28.
Source: BSE
