In , Mankind Pharma Ltd (Pharma - Formulators) is outperforming Nifty 500 with +19.4% relative strength. Fundamentals: Average.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Earnings deceleration risks from management commentary
Trigger: Mankind's business model is uniquely culture-dependent (daily sales, no targets, prescription-driven) — different from other pharma companies; new hires from target-driven cultures (Cipla, Sun) needed cultural reorientation; GP-relationship driven anti-infective sales (60% of revenue is acute + GP-dependent) bore the brunt of the churn
Monitor: labor
Trigger: BSV integration necessitated multiple regulatory and accounting actions simultaneously in Q3; the one-time nature means they should not recur in Q4 FY26; adjusted margin guidance (24-26%) remains the right tracking metric going forward
Monitor: regulatory
Trigger: Not explained on call
Monitor: commodity
Trigger: Limited US generic exposure reduces tariff risk; but opportunistic US business (eye drops etc.) is lumpy and not guideable — the flip side of the 51% export growth is that it is BSV-driven, not a structural Mankind international capability
Monitor: geopolitical
Trigger: Not explained on call
Monitor: litigation
Key quotes from recent conference calls
“we have gone for a major kind of a transformation in Mankind, the last, I'll say, 12 to 15 months' time. In this process, we overestimated our power of executing. I should really confess the problems. Approximately 20% - 25% is new [Risk (labor): MEDIUM]”
“Our reported EBITDA margin for the quarter is 22.9% which is lower by 300 basis points as compared to the adjusted EBITDA margin of 25.9% in Q3 '26. This decrease is attributable to exceptional items comprising of New Labour Code adoption, stamp duty on slump sale of BSV branded generic business within the group, and impairment of some noncurrent surplus assets [Risk (regulatory): MEDIUM]”
“Not mentioned on call [Risk (commodity): LOW]”
“our U.S. sales and growth was mainly opportunity based because of one eye drop over there. In ROW, we are in the process of sending the dossier to different countries, the commercialization will happen after a couple of years, maybe 2028-2029 [Risk (geopolitical): LOW]”
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +12% | +16% | Decelerating |
| PAT (Net Profit) | +8% | +11% | Inflection Up |
| OPM | 26.0% | 0 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 30, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Mankind Pharma Ltd's latest quarterly results (Dec 2025) show
Mankind Pharma Ltd's profit is growing with an turning around (inflection up) trend.
Mankind Pharma Ltd's revenue growth trend is decelerating.
Mankind Pharma Ltd's operating margin is stable.
Mankind Pharma Ltd's long-term compounding rates
Mankind Pharma Ltd's earnings growth is turning around (inflection up) with mixed signals on a sequential basis.
Mankind Pharma Ltd's trailing twelve month (TTM) performance
Mankind Pharma Ltd's current PE ratio is 54.0x.
Mankind Pharma Ltd's price-to-book ratio is 6.6x.
Mankind Pharma Ltd is rated Average with a fundamental score of 40.63/100. This score is calculated from objective financial metrics
Mankind Pharma Ltd has a debt-to-equity ratio of N/A.
Mankind Pharma Ltd's return ratios over recent years
Mankind Pharma Ltd's operating cash flow is positive (FY2025).
Mankind Pharma Ltd's current dividend yield is 0.04%.
Mankind Pharma Ltd's shareholding pattern (Mar 2026)
Mankind Pharma Ltd's promoter holding has remained stable recently.
Mankind Pharma Ltd has been outperforming Nifty 500 for 3 consecutive weeks, indicating early-stage outperformance.
Mankind Pharma Ltd is an established outperformer with 3 weeks of consecutive Nifty 500 outperformance.
Mankind Pharma Ltd has 5 key risks worth monitoring
In Q3 FY26, Mankind Pharma Ltd's management highlighted
Based on quantitative research signals, here is why Mankind Pharma Ltd may be worth studying
Mankind Pharma Ltd investment thesis summary:
Mankind Pharma Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
