Mankind Pharma Limited — Earnings Release 2026

Nov 6, 2025

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November 6, 2025

BSE Limited

P J Towers, Dalal Street, Mumbai – 400 001

Scrip Code: 543904

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051

Symbol: MANKIND

Dear Sir/ Madam,

Subject: Press Release

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Press Release on Financial Results of the Company for Q2FY26.

The above-mentioned Press Release is also being uploaded on the website of the company i.e. www.mankindpharma.com.

You are requested to kindly take the above information on your records.

Thanking You,

Yours Faithfully,

For Mankind Pharma Limited

Digitally signed by HITESH HITESH KUMAR JAIN KUMAR JAIN Date: 2025.11.06 16:17:39 +05'30'

Hitesh Kumar Jain Company Secretary & Compliance Officer

Encl.: A/a

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Press Release

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Mankind Pharma revenue up by 20.8% with EBITDA margin 25.0% in Q2FY26.

New Delhi, India, 06 November, 2025: Mankind Pharma (BSE: 543904 | NSE: MANKIND) India’s fourth largest pharmaceutical Company today announced its financial results for the second quarter and six months ended 30[th] September 2025. The information mentioned in this release is based on consolidated financial statements.

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Revenue Dom. Revenue EBITDA
INR 3,697 Crore INR 3,184 Crore INR 924 Crore
Q2 FY26
20.8% YoY
14.5% YoY 25.0% Margin
Revenue Dom. Revenue EBITDA
INR 7,268 Crore
INR 6,285 Crore INR 1,774 Crore
H1 FY26
22.6% YoY
16.6% YoY 24.4% Margin
–
Mr. Rajeev Juneja Vice Chairman & Managing Director
“Mankind’s revenue increased by 20.8% supported by outperformance in Chronic and
BSV consolidation, partially impacted by GST disruption.
While chronic continued an outperformance led by 1.3x and 1.2x in Cardiac and Anti-
diabetes respectively, OTC was impacted due to heavy rains along with GST 2.0 and we
expect growth recovery in H2.
BSV growth initiatives progressing well - with double digit sequential growth led by
mandate brands
We remain confident of delivering sustainable long-term growth led by four key pillars
- steady base business, fast growing specialty chronic, high potential OTC business, and
super specialty BSV portfolio.”
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Press Release

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Q2 FY26 Performance Summary

• Revenue from Operations at INR 3,697 Cr, up by 20.8% YoY

  • Domestic revenue at INR 3,184 Cr, up 14.5%, Exports at INR 513 Cr, up 82.6% YoY

• Reported EBITDA margin of 25.0% and PAT margin of 14.1%

• Diluted EPS[1] of INR 12.4 down by 24.2% YoY (FV Re.1)

1. Diluted EPS not annualised

H1 FY26 Performance Summary

• Revenue from Operations at INR 7,268 Cr, up by 22.6% YoY

  • Domestic revenue at INR 6,285 Cr, up 16.6%, Exports at INR 982 Cr, up 81.9% YoY

• Reported EBITDA margin of 24.4% and PAT margin of 13.3%

• Diluted EPS[1] of INR 23.0 down by 22.4% YoY (FV Re.1)

• CFO to EBITDA ratio was 92% for H1FY26 vs 80% in FY25

1. Diluted EPS not annualised

Domestic Business[1]

• Domestic revenue[2] registered a growth of 15% YoY driven by growth in base business and BSV consolidation

• Secondary sales growth of 6.3% vs 7.2% IPM - volume underperformance in Sep’25 after healthy trends in July and August 2025 due to supply chain disruptions led by roll-out of new GST rates

• Continued outperformance in chronic growth - 1.3x in Cardiac, and 1.2x both in AntiDiabetics and Respiratory

• Our CVM rank improved to #4 in Anti-diabetes both during the quarter and MAT Sep’25

• Consistently maintained #1 rank over last 8 years with prescription share of 15.3%

• Prescriber penetration increased by 30 bps to 84.2% in MAT Sep’25 vs 83.9% in MAT Sep’24

1. As per IQVIA September-2025 // 2. Denotes reported number

Consumer Healthcare Business[1]

• Revenue[2] declined by 3% YoY in Q2FY26 primarily due to supply chain disruptions led by GST and uneven monsoon

• MT & E-Com share increased to 12% in H1FY26 as compared to 8% in H1FY25 supported by 45%+ growth

• Strong growth in secondary sales for Gas-o-fast, and Manforce Condom of 36%, and 14% YoY respectively in Q2FY26

• Gaining healthy traction in key launches like Epic ThinX (Unflavored premium category condom), and OvaNews (Ovulation Detection Kit)

1. As per IQVIA / IQVIA Retail, September-2025 // 2. Denotes reported number

Press Release

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Exports

• Revenue growth of 83% YoY primarily due to consolidation of BSV supported by growth in base business

• Mankind (excl. BSV) has launched 3 products in Q2FY26; taking the total launched products to 48 in US

Consolidated Profit & Loss Account

In INR Crore	Q2 FY26	Q2 FY25	YoY%	Q1 FY26	**QoQ% **
Revenue from Operations	3,697	3,061	20.8%	3,570	3.6%
Gross Margins %	71.3%	71.5%	(20 bps)	70.5%	_80 bps _
EBITDA	924	850	8.7%	850	8.7%
EBITDA Margin %	25.0%	27.8%	(280 bps)	23.8%	_120 bps _
PAT	520	661	-21.3%	445	17.0%
PAT Margin %	14.1%	21.6%	(750 bps)	12.5%	_160 bps _
Diluted EPS(INR)1	12.4	16.3	(24.2%)	10.6	16.8%
Cash EPS(INR)1	17.7	18.9	(5.9%)	15.9	11.6%

1. Diluted EPS and Cash EPS not annualised

In INR Crore	H1 FY26	H1 FY25	YoY%
Revenue from Operations	7,268	5,929	22.6%
Gross Margins %	70.9%	71.6%	(70 bps)
EBITDA	1,774	1,525	16.3%
EBITDA Margin %	24.4%	25.7%	(130 bps)
Adjusted EBITDA1	1,774	1,567	13.2%
Adjusted EBITDA Margin%	24.4%	26.4%	(200 bps)
PAT	965	1,200	(19.6%)
PAT Margin %	13.3%	20.2%	(690 bps)
Diluted EPS(INR)2	23.0	29.6	(22.4%)
Cash EPS(INR)2	33.6	34.7	(2.9%)

1. Adjusted with one time M&A related expense and other non-recurring cost || 2. Diluted EPS and Cash EPS not annualised

Segmental Revenue Break Up

In INR Crore	Q2 FY26		Q2 FY25		YoY%	Q1 FY26	Q1 FY26	**QoQ% **
Domestic	3,184		2,780		14.5%	3,101		2.7%
 Consumer Healthcare	226		232		(2.6%)	237		(4.6%)
Exports	513		281		82.6%	469		9.4%
Total	3,697		3,061		20.8%	3,570		3.6%
In INR Crore			H1 FY26		H1 FY25			YoY%
Domestic			6,285		5,389			16.6%
 Consumer Healthcare			463		438			5.7%
Exports			982		540			81.9%
Total			7,268		5,929			22.6%

Press Release Earning Concall Details
Date	06th November, 2025
Time	06:00 pm – 07:00 pm IST
Universal Access Numbers	+91-22-6280 1102 / +91-22-7115 8003
Diamond Pass	Click here

About Mankind Pharma

Mankind Pharma (BSE: 543904 | NSE: MANKIND is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence. Mankind operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company is a leading player in the domestic pharmaceuticals business present across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, antidiabetic, neuro/CNS, gynaecology, VMN and respiratory, among others with a strategy to increase chronic presence going ahead. In the consumer healthcare business, the company operates in the condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories, among others, with several category-leading brands. Following the acquisition of BSV, Mankind Pharma has further strengthened its leadership in the domestic women’s health segment. Mankind's distribution network includes a robust field force of 18,000+ professionals, and a reach extending to over five lakh doctors across urban and rural markets. The company has 32 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products. Mankind has a consistent track record of product innovation through 7 dedicated R&D facilities backed by more than 730 scientists. For more information, visit www.mankindpharma.com

Safe Harbour Statement

The statements, are as on date and may contain forward-looking statements like the words “believe”, “expects”, “anticipate”, “aim”, “will likely result”, “Would”, “will continue”, “contemplate” “intends”, “plans”, “estimates”, “seek to”, “future”, “objective”, “projects”, “goal”, “likely”, “Project”, “should”, “potential” “will”, “may”, “targeting” or other words of similar expressions/ meaning regarding the financial position, business strategy, plans, targets and objectives of the Company. Such forward‐looking statements involve known and unknown risks which may cause actual results, performance or achievements to be materially different from the results or achievements expressed or implied. The risks and uncertainties inter-alia, relating to these statements include (i) cash flow projections, (ii) industry and market conditions; (iii) ability to manage growth; (iv) competition; (v) government policies

Press Release

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and regulations; (vi) obtaining regulatory approvals; (vii) domestic & international economic conditions such as interest rate & currency exchange fluctuations; (viii) political, economic, legal and social conditions in India/ elsewhere; (ix) technological advances; (x) claims and concerns about product safety and efficacy; (xi) domestic and foreign healthcare reforms; (xii) inability to build production capacity; (xiii) unavailability of raw materials and failure to gain market acceptance.

The Company and its subsidiaries shall not have any responsibility or liability whatsoever for any loss howsoever arising from this presentation or its contents or otherwise arising in connection therewith. Also, Company assume no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events, or otherwise.

For Queries Contact

Mankind Pharma - Investor Relations Abhishek Agarwal Email address: investors@mankindpharma.com Contact Number: +91-11-46846700

Mankind Pharma - Corporate Communication Natasha Raj Email address: natasha.raj@mankindpharma.com Contact Number: 011-46846700 Ext: 3201

Adfactors PR - Investor Relations / Public Relations Smit Shah / Apoorva Sharma Email address: smit.shah@adfactorspr.com / apoorva.sharma@adfactorspr.com Contact Number: +91 9870789596 / +91 9999739452