MarketFriction

Mankind Pharma Ltd

NSE MANKIND · BSE 543904 · Pharmaceuticals
₹2,535.00 +1.25%
NSE close2026-10-01
52 week range1,909.70 - 2,642.00
Market cap₹1,05,120 Cr.
P/E49.3
IPO 2023 · +135% since Nifty 200Nifty 500Nifty Midcap 50Nifty Midcap 100Midcap 150Nifty PharmaNifty Healthcare Index No price band Delivery 53.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,7082,6072,4222,8683,0613,1993,0793,5703,6973,5673,4434,031
Expenses2,0252,0001,8362,1962,2142,3832,3962,7242,7762,6482,5132,974
Operating Profit6836065866728478166838479219199301,056
OPM %25%23%24%23%28%26%22%24%25%26%27%26%
Other Income637594108109872498394-319449
Interest999117221191171170157142110
Depreciation96110100103100187231219222223223226
Profit before tax641562572666849495511540624509659769
Tax %20%18%17%18%22%22%17%18%17%19%15%25%
Net Profit511460477543659385425445520414559574
EPS in Rs12.5111.3311.7613.3916.319.2210.2010.6212.399.9013.4313.75
Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,3345,8656,2147,7828,74910,26012,20714,27814,738
Expenses2,7484,4274,5655,7916,8487,7439,18210,65310,911
Operating Profit5861,4381,6491,9911,9022,5173,0263,6253,827
OPM %18%25%27%26%22%25%25%25%26%
Other Income76122183210141295548238207
Interest22321604634432644579
Depreciation3999119167326378621886893
Profit before tax6211,4381,6921,9751,6712,3992,5212,3332,562
Tax %29%27%24%26%22%19%20%17%
Net Profit4451,0561,2931,4531,3101,9422,0111,9382,068
EPS in Rs219.3325.7231.5935.7832.0047.7548.2646.3449.47
Dividend Payout %0%0%24%0%0%0%0%2%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%18%18%14%
Compounded Profit Growth%11%17%13%
Stock Price CAGR%%12%4%
Return on Equity%17%16%13%
Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2040404040404141
Reserves2,0353,4454,6826,1157,3959,32314,29116,259
Borrowings01312418731702078,5116,312
Other Liabilities9681,4491,3972,0802,0802,3134,8085,143
Total Liabilities3,0225,0656,3609,1089,68611,88327,65227,755
Fixed Assets3161,6001,6643,5884,2514,54519,00518,620
CWIP473173727015502828261,128
Investments9598291,5121,1091,3462,5682,0421,985
Other Assets1,7002,3192,8113,7093,5384,4885,7806,022
Total Assets3,0225,0656,3609,1089,68611,88327,65227,755
Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,0701,1379201,8132,1522,4133,121
Cash from Investing Activity-436-1,222-1,369-1,052-2,081-12,624-181
Cash from Financing Activity-531-8605-740510,233-2,953
Net Cash Flow103-92156227722-12
Free Cash Flow853826-1,4239871,7711,8952,387
CFO/OP97%96%71%112%103%98%102%
Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2233191824304644
Inventory Days166175243265188180219193
Days Payable7114513716212690119121
Cash Conversion Cycle1176312512186120146117
Working Capital Days563032243953-28-40
ROCE %37%32%22%26%17%14%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters76.50%76.50%74.88%74.87%74.87%72.71%72.70%72.67%72.67%72.66%72.66%72.63%
FIIs4.18%6.74%9.87%11.58%12.37%13.34%12.92%13.07%12.83%11.34%10.24%9.45%
DIIs4.56%9.78%11.14%9.94%9.91%11.05%11.47%11.50%11.91%13.26%14.46%15.39%
Public14.76%6.97%4.10%3.61%2.86%2.89%2.89%2.75%2.57%2.75%2.63%2.53%
No. of Shareholders1,34,7311,27,4491,35,1161,53,4501,63,8541,71,2811,80,5971,79,5491,70,3471,77,5391,77,6061,66,715

Fundamentals

Market Cap₹ 1,05,120 Cr.
Current Price₹ 2,545
Stock P/E49.3
Book Value₹ 395
ROCE13.5 %
ROE13.1 %
Dividend Yield0.04 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)14%
Compounded Profit Growth (TTM)13%
Consolidated figures.
Valuation
Market capRs 101,549 Cr
Enterprise valueRs 101,048 Cr
P/E (TTM)49.71x
Price to book10.85x
Price to sales6.89x
EV / EBITDA25.05x
EV / EBIT32.18x
EV / sales6.86x
Price to cash flow47.18x
Earnings yield2.01%
P/E, 3-year average48.18x
P/B, 3-year average9.84x
P/E, 5-year average48.18x
P/B, 5-year average9.84x
Profitability
Operating margin (excl. other income)24.53%
Operating margin (incl. other income)27.40%
EBITDA margin27.37%
Pre-tax margin17.38%
Net profit margin13.86%
Net margin, latest quarter14.09%
ROE22.77%
ROCE28.33%
ROA17.74%
ROE, 3-year average22.67%
ROCE, 3-year average28.58%
ROA, 3-year average16.64%
ROE, 5-year average27.21%
ROCE, 5-year average35.44%
ROA, 5-year average19.51%
ROIC (approx.)28.68%
Tax rate19.06%
Other income / net worth3.15%
Growth
Sales growth (latest year)17.27%
Profit growth (latest year)49.23%
Sales CAGR, 3 years18.19%
Sales CAGR, 5 years25.21%
Profit CAGR, 3 years14.77%
Profit CAGR, 5 years34.21%
Sales growth QoQ17.07%
Profit growth QoQ2.47%
Sales growth YoY (latest quarter)12.89%
Profit growth YoY (latest quarter)29.60%
Per share
EPS (TTM)Rs 50.99
EPS (latest year)Rs 47.75
EPS (latest quarter)Rs 14.18
EPS, 3-year averageRs 38.51
EPS, 5-year averageRs 34.57
Book value per shareRs 233.73
Sales per shareRs 367.91
Cash flow per shareRs 53.73
Free cash flow per shareRs 59.59
Dividend per share, 5-year averageRs 7.55
Dividends
Dividend payout, 5-year average23.90%
Efficiency
Asset turnover0.86x
Fixed asset turnover2.26x
Inventory turnover2.25x
Inventory days162 days
Debtor days30 days
Debtors turnover12.10x
Creditor days121 days
Cash conversion cycle117 days
Working capital days-40 days
Leverage
Total debtRs 207 Cr
Cash and bankRs 708 Cr
Net debtRs -501 Cr
Debt to equity0.02x
Net debt / EBITDA-0.12x
Interest coverage5.43x
Current ratio (filing 2026-03-31)1.10x
Quick ratio (filing 2026-03-31)0.77x
Trade payables (filing 2026-03-31)Rs 1,341 Cr
Owners' fund to total sources78.79%
Debt to assets1.74%
Cash flow
Cash from Operating Activity (latest year)Rs 2,152 Cr
Cash from Investing Activity (latest year)Rs -2,081 Cr
Cash from Financing Activity (latest year)Rs 5 Cr
Net Cash Flow (latest year)Rs 77 Cr
Free cash flow (latest year)Rs 2,387 Cr
FCFE (approx.: FCF + change in debt)Rs 2,424 Cr
Cash from ops / profit, 5 years1.20x
Sales to cash flow4.77x
Statement figures
Net sales (TTM)Rs 14,738 Cr
Net sales (latest year)Rs 10,260 Cr
Sales (latest quarter)Rs 4,031 Cr
Operating profit excl. other income (latest year)Rs 2,517 Cr
Operating profit (latest quarter)Rs 1,056 Cr
Other income (TTM)Rs 207 Cr
EBITDA (TTM)Rs 4,033 Cr
PBDT (TTM)Rs 3,455 Cr
Profit before tax (TTM)Rs 2,562 Cr
Tax (latest year)Rs 457 Cr
Net profit (TTM)Rs 2,043 Cr
Net profit (latest year)Rs 1,913 Cr
Net profit (latest quarter)Rs 568 Cr
Depreciation (TTM)Rs 893 Cr
Depreciation (latest quarter)Rs 226 Cr
Interest (TTM)Rs 579 Cr
Cost of goods sold (latest year)Rs 3,490 Cr
Total expenditure (latest year)Rs 7,743 Cr
Total income (latest year)Rs 10,555 Cr
Share capitalRs 40 Cr
ReservesRs 9,323 Cr
Shareholders' fundsRs 9,363 Cr
Total assetsRs 11,883 Cr
Net blockRs 4,545 Cr
Capital work in progressRs 282 Cr
InvestmentsRs 2,568 Cr
ReceivablesRs 848 Cr
InventoryRs 1,553 Cr
Other liabilitiesRs 2,313 Cr
Shares outstanding (crore)40.06
Ownership
Promoter holding72.63% (-0.04 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 49.7 is at the 21th percentile of its own 3.5-year range (median 52.9, low 45.0, high 80.5).
P/B 10.85 is at the 10th percentile (median 14.77).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMANKINDNifty 50Difference
1 week+1.4%-2.8% +4.2 pts
1 month+7.6%-6.8% +14.4 pts
3 months+0.3%-7.6% +7.9 pts
6 months+26.4%+0.4% +26.0 pts
1 year+0.3%-9.9% +10.3 pts
2 years-4.3%-13.6% +9.2 pts
3 years+41.2%+14.2% +27.0 pts
227 mutual fund schemes hold about ₹11,186 Cr. Over three months 47 bought more and 160 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Large Cap Fundd1.79%985 -5%
Nippon India Growth Mid Cap Fund1.80%943 +2%
HDFC Large Cap Fund1.66%663 -7%
Nippon India Large Cap Fund0.86%468 +2%
Aditya Birla SL Flexi Cap Fund1.47%428 -7%
Nippon India Pharma Fund4.09%388 +1%
Franklin India Opportunities Fund3.79%368 +20%
ICICI Pru Healthcare Fund-5.21%365 -25%
HSBC Midcap Fund2.10%361 -15%
Aditya Birla SL Large Cap Fund1.19%355 +8%
Axis ELSS-Tax Saver Fund1.03%337 -8%
SBI Contra Fund0.68%321 -6%
Mirae Asset Midcap Fund1.27%266 +25%
PGIM India Midcap Fund2.23%251 -7%
Franklin India Mid Cap Fund1.91%249 -9%
Nippon India ELSS Tax Saver Fund1.47%217 +34%
Tata Mid Cap Fund3.10%194 -11%
Kotak Small Cap Fund0.98%192 -10%
Nippon India Flexi Cap Fund1.70%167 -7%
Edelweiss Mid Cap Fund0.84%166 -15%
Sundaram Mid Cap Fund0.98%145 -11%
Sundaram Mid Cap Fund0.98%142 -11%
Axis Midcap Fund0.35%121 -10%
UTI Large Cap Fund0.95%115 -7%
SBI Healthcare Opp Fund1.67%97 -42%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-02-08Puja JunejaPromoter Groupsell2,271,336Rs 478.65 CrMarket Sale
2024-02-08Arjun JunejaPromoter Groupsell2,401,128Rs 506.00 CrMarket Sale
2024-02-08Sheetal AroraPromoterssell1,817,070Rs 382.92 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹4,031 Cr +12.9% vs Jun 2025. Net profit ₹574 Cr +29.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-08-08Interim Dividend - Re 1 Per Share
DateTypeWhat it says
2026-09-28Resignation of Statutory AudResignation of Statutory Auditor
2026-09-28General UpdatesResignation of Statutory Auditors of a material wholly owned subsidiary company
2026-09-17Shareholder meetingVoting results.
2026-09-15General UpdatesESG Rating
2026-09-11Concall / analyst meetSchedule of meet
2026-09-07General UpdatesUpdate on Voluntary Liquidation of Bharat Serums and Vaccines Limited, a WOS.
2026-09-01ESOPAllotment of 49112 Shares.
2026-08-31General UpdatesGeneral Updates
2026-08-30CessationCessation of Mr Bharat Anand as Non- Executive Independent Director of the company w.e.f. August 30, 2026.
2026-08-26Other RestructuringPlease find attached outcome of Board Meeting held today, according consent of the Board of Directors of the Company for the integration of Bharat Ser...
2026-08-26Board meeting outcomePlease find attached outcome of Board Meeting held today, according consent of the Board of Directors of the Company for the integration of Bharat Ser...
2026-08-22General UpdatesGeneral Updates
2026-08-20Press ReleaseA press release dated August 20, 2026, titled "Mankind Pharma Enters into Exclusive In-Licensing Agreement for Insulin Degludec and Insulin Degludec +...
2026-08-18Shareholder meetingNotice of Postal Ballot
2026-08-17General UpdatesCompletion of Realignment of Security Cover in respect of Non-ConvertibleDebentures and Consequent Release of Pledged Shares of Bharat Serums andVacci...
2026-08-13AcquisitionAcquisition
2026-08-10AppointmentAppointment of Mr Anish Vanraj Bafna as Non- Executive Independent Director of the company w.e.f. August 10, 2026.
2026-08-10Board meeting outcomeOutcome of Board Meeting held on August 10, 2026.
2026-08-10Concall / analyst meetSchedule of meet
2026-08-06Shareholder meetingVoting results.
2026-08-04Shareholder meetingProceedings of Annual General Meeting held on August 04, 2026
2026-08-04Concall / analyst meetTranscript
2026-07-30Concall / analyst meetLink of Recording
2026-07-30General UpdatesPlease find attached certificate under Regulation 54 of the SEBI (LODR) Regulations, 2015
2026-07-30Press ReleaseA press release dated July 30, 2026, titled "Press Release on Financial Results for Q1FY27".
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.92
Max pain (expiry 2026-10-27)2,500
Largest call open interest at2,500
Largest put open interest at2,300
Implied volatility, at the money30.3%
Underlying at snapshot2,535.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-3010
2026-09-299,845
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Mankind Pharma Ltd?

Mankind Pharma Ltd (MANKIND) has a market capitalisation of Rs 1,05,120 Cr. at the 2026-10-01 close.

What is the P/E ratio of Mankind Pharma Ltd?

Mankind Pharma Ltd trades at a P/E of 49.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Mankind Pharma Ltd's latest quarterly results?

In the Jun 2026 quarter, Mankind Pharma Ltd sales was Rs 4,031 Cr (+12.9% vs Jun 2025) and net profit was Rs 574 Cr.

What is the 52-week high and low of Mankind Pharma Ltd?

The 52-week high is Rs 2,642.00 and the 52-week low is Rs 1,909.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03