Mankind Pharma Limited reported strong financial performance for the second quarter of FY27, with consolidated profit after tax (PAT) rising 37.7% year-on-year (YoY) to ₹716 crore. Revenue from operations increased 17.3% to ₹4,338 crore for the quarter ended September 30, 2026.
The pharmaceutical company recorded growth across its domestic and international businesses, supported by demand for chronic therapies, including cardiac and anti-diabetes medicines. Operating performance also improved, with EBITDA increasing by approximately 27% and the reported EBITDA margin expanding to around 27%.
Mankind Pharma Q2 Results : Key Financial Highlights
- Revenue from operations: ₹4,338 crore, up 17.3% YoY.
- Profit after tax (PAT): ₹716 crore, up 37.7% YoY.
- EBITDA: Approximately ₹1,175 crore, up around 27% YoY.
- EBITDA margin: Approximately 27.1%, compared with 24.9% in Q2 FY26.
- Domestic revenue: ₹3,657 crore, up 14.8% YoY.
- Export revenue: ₹681 crore, up 32.7% YoY.
- H1 FY27 revenue: ₹8,368 crore, up 15.1% YoY.
- H1 FY27 PAT: ₹1,290 crore, up 33.7% YoY.
Domestic and Export Businesses Drive Revenue Growth
Mankind Pharma’s domestic business remained a major contributor to its quarterly revenue. Domestic revenue increased 14.8% YoY to ₹3,657 crore, while exports grew 32.7% to ₹681 crore.
The domestic pharmaceutical business, excluding consumer healthcare, recorded growth of 15.9%. The company’s cardiac therapies reportedly grew by approximately 19%, while its anti-diabetes portfolio expanded by around 16%.
International business growth of approximately 33% also supported the overall performance, with exports accounting for a larger contribution to quarterly revenue.
EBITDA Growth Supports Margin Expansion
Mankind Pharma’s operating performance improved during Q2 FY27, with EBITDA growing faster than revenue. EBITDA increased by approximately 27% year-on-year, while the EBITDA margin expanded to around 27.1% from 24.9% in the corresponding quarter last year.
The improvement indicates stronger operating profitability during the quarter. Sustaining these margins will depend on product mix, input costs, demand across therapeutic categories and the performance of its domestic and international businesses.
H1 FY27 Performance Remains Strong
For the first half of FY27, Mankind Pharma reported revenue from operations of ₹8,368 crore, representing growth of 15.1% year-on-year.
Domestic revenue for the six-month period increased 12.7% to ₹7,082 crore, while exports rose 31% to ₹1,286 crore.
EBITDA stood at ₹2,235 crore, up 26% year-on-year, and profit after tax reached ₹1,290 crore, an increase of 33.7%. The first-half performance reflects growth across the company’s key business areas.
Mankind Pharma Expands into CAR-T Therapy
Mankind Pharma recently announced its acquisition of a majority stake in Armed Cell Therapeutics, marking its entry into next-generation CAR-T therapies.
CAR-T therapy is an advanced form of cancer treatment that modifies a patient’s immune cells to help them recognise and attack cancer cells. The move represents a strategic expansion beyond the company’s established pharmaceutical portfolio.
The longer-term contribution of this business will depend on development progress, regulatory requirements, commercialisation and market adoption.
What to Watch Next
The key factors to monitor in upcoming quarters include:
- Domestic pharmaceutical growth: Continued demand across chronic and acute therapies.
- Export performance: Whether international revenue maintains its recent growth momentum.
- Operating margins: The company’s ability to sustain improved profitability.
- Consumer healthcare: Growth in the consumer healthcare portfolio.
- CAR-T therapy expansion: Progress following the investment in Armed Cell Therapeutics.
Conclusion
Mankind Pharma delivered a strong Q2 FY27 performance, with revenue from operations rising 17.3% to ₹4,338 crore and reported profit after tax increasing to ₹716 crore. Growth in domestic pharmaceuticals, a sharp rise in exports and improved operating margins supported the results.
The company’s future performance will depend on sustained demand across its therapeutic portfolio, international business growth, operating efficiency and the execution of its expansion into advanced therapies.
Source: Mankind Pharma’s Q2 and H1 FY27 results coverage and company disclosures dated 26 October 2026.
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