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Mankind Pharma (MANKIND) investor relations material
Mankind Pharma Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY26 revenue grew 24.5% year-on-year to INR 3,570 crore, with EBITDA margin at 23.8% and strong performance in chronic, consumer, and export segments; domestic revenue up 19% year-on-year, driven by volume recovery and BSV consolidation.
Outperformed Indian Pharma Market (IPM) in volume and value growth, especially in anti-infective, respiratory, cardiology, and anti-diabetic therapies; OTC business revenue increased 15% year-on-year.
International business revenue surged 81% year-on-year to INR 469 crore, supported by BSV consolidation and new product launches.
Interim dividend of INR 1 per share declared to mark 30 years of operations.
Approved acquisition of Branded Generic Business (Women Health Rx Portfolio) from BSV and completed acquisition of 100% stake in BSV for INR 13,768 crore.
Financial highlights
Consolidated revenue for Q1 FY26: INR 3,570.35 crore, up from INR 2,867.85 crore in Q1 FY25; EBITDA at INR 850 crore, up 25.8% year-on-year; EBITDA margin at 23.8%.
Gross margin declined by 130 bps year-on-year to 70.5% due to unfavorable sales mix and inventory accruals.
Profit after tax fell 17.4% year-on-year to INR 445 crore, impacted by higher finance and depreciation costs from BSV consolidation; diluted EPS at INR 10.62.
Cash flow from operations rose 54% year-on-year to INR 840 crore; net operating working capital days improved to 42.
CapEx for the quarter was INR 127 crore (3.6% of revenue), below the 5% annual guidance.
Outlook and guidance
Maintains full-year guidance: gross margin above 70%, EBITDA margin at 25%-26%, and tax rate at 20%-21%.
BSV expected to deliver 18%-20% sales growth with margins at the higher end of 26%-28%.
CapEx for the biosimilar facility (phase one) estimated at INR 150-200 crore, with INR 100 crore outflow in FY26, included in the 5% CapEx guidance.
Interest cost for FY26 projected at INR 450-475 crore, with INR 2,000 crore debt repayment scheduled.
Acquisition of Women Health Rx Portfolio expected to bring operational and financial synergies.
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