Here’s what the street liked about Mankind Pharma’s Q4 results as stock surges 4% today

Shares of Mankind Pharma gained over 3% in early trade on May 20 after the company reported strong March quarter earnings, supported by healthy domestic business growth, improving margins and strong traction in its consumer healthcare portfolio.

The stock was trading at ₹2,570.60 on the NSE, up 3.13%, after touching an intraday high of ₹2,579.50. The rally also pushed the stock closer to its 52-week high of ₹2,716.50.

For Q4FY26, Mankind Pharma reported revenue of ₹3,443 crore, compared to ₹3,079 crore in the year-ago period, registering an 11.8% growth.

Net profit rose 31.7% year-on-year to ₹559 crore from ₹425 crore, while EBITDA jumped 36.1% to ₹930 crore from ₹683 crore in the corresponding quarter last year.

The company’s EBITDA margin expanded sharply to 27% from 22.2% a year ago, indicating strong operating leverage and improved product mix.

Brokerage firm Morgan Stanley maintained its “Overweight” rating on the stock with a target price of ₹2,500. The brokerage highlighted that EBITDA growth was driven by healthy domestic business performance and strong execution across key therapy segments.

According to the brokerage, Mankind continued to witness healthy double-digit domestic growth, backed by robust performance in major therapies.

The domestic business grew 13% year-on-year during Q4FY26, driven by strong growth in the core Mankind franchise. The cardiac segment recorded 14.7% growth, while the anti-diabetes segment grew 11.6%. The chronic portfolio contribution also increased to nearly 40%, reflecting improving portfolio quality.

The company’s consumer healthcare or OTC business also remained a key highlight during the quarter. Revenue from the segment grew 20% YoY, led by strong demand for brands such as Manforce, Prega News and Gasofast.

Mankind also saw rising contribution from digital channels, with e-commerce and modern trade share increasing to 13% in FY26.

Its specialty business under Bharat Serums and Vaccines (BSV) posted healthy growth in key brands including Foligraf, which grew 52%, and HMG, which rose 40%.

Meanwhile, the international business reported relatively muted growth of 4% year-on-year during the quarter, impacted by geopolitical headwinds.

Apart from the earnings performance, the board also approved an investment of up to ₹500 crore in subsidiary Mankind Medicare and reappointed Satish K Sharma as Whole-Time Director for five years.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice.