Mankind Pharma Reports 11.5% Revenue Growth in Q3 FY26
New Delhi: Mankind Pharma has reported a 11.5 per cent year-on-year rise in consolidated revenue for the third quarter ended December 31, 2025, supported by steady domestic formulation growth, strong traction in chronic therapies, and consolidation of the BSV business.
The company’s revenue from operations increased to Rs 3,567 crore in Q3 FY26, compared with Rs 3,199 crore in the same quarter last year. Domestic revenue rose 11.1 per cent year-on-year to Rs 3,046 crore, while export revenue grew 14.1 per cent to Rs 521 crore, reflecting improved performance across international markets. During the quarter, Mankind reported an adjusted EBITDA margin of 25.9 per cent, while profit after tax rose 9.5 per cent year-on-year to Rs 414 crore, with a PAT margin of 11.6 per cent.
Commenting on the performance, Rajeev Juneja, Vice Chairman and Managing Director, Mankind Pharma, said the growth was primarily driven by improved domestic pharmaceutical performance and the integration of the BSV business. “Mankind’s revenue increased 11.5% YoY, with adjusted EBITDA margins of 25.9%, primarily due to improvement in domestic pharma and BSV consolidation. Mankind’s chronic share increased by 200 basis points YoY to 39.3%, driven by strong growth of 16.7% in cardiac and 14.4% in anti-diabetes,” he said.
The company continued to significantly outperform the Indian Pharmaceutical Market in chronic therapies during the quarter. Growth in the cardiac segment stood at 16.7 per cent, while the anti-diabetes segment expanded 14.4 per cent, nearly 1.9 times faster than the overall IPM growth, excluding new GLP-1 launches. Key focused brands such as Telmikind, Lipirose, and Statpure posted strong double-digit growth, while the Glizid brand family crossed Rs 200 crore in MAT December 2025, taking the total number of brands above the Rs 200 crore mark to 13.
Mankind also maintained its number one prescription rank for the eighth consecutive year, with prescription share at 15.2 per cent. Prescriber penetration increased to 84.2 per cent in MAT December 2025, compared with 83.9 per cent a year ago, underscoring the company’s strong reach across urban and rural markets.
The consumer healthcare business showed a clear sequential recovery, with revenue growth of 5.2 per cent year-on-year in Q3 FY26, compared with a contraction in the previous quarter. The company reported healthy secondary sales growth for key brands such as Gas-o-Fast, Manforce Condoms, and Ova News, while the share of modern trade and e-commerce increased to 13.1 per cent, supported by over 40 per cent growth in these channels.
On the international front, export revenues rose 14 per cent year-on-year, largely driven by the BSV international business. Excluding BSV, Mankind launched four new products in the United States during the first nine months of FY26, taking the total number of US product launches to 48.
For the nine months ended December 31, 2025, revenue from operations grew 18.7 per cent year-on-year to Rs 10,835 crore, with domestic revenue increasing 14.8 per cent and export revenue surging 50.8 per cent. The company reported an adjusted EBITDA margin of 24.9 per cent and a CFO-to-adjusted EBITDA ratio of 93 per cent, reflecting strong operating cash flows despite margin pressures.
Mankind Pharma said it remains confident of delivering long-term sustainable growth, anchored by a steady base business, a fast-growing specialty chronic portfolio, a high-potential consumer healthcare segment, and its expanding super-specialty BSV business.
