Mankind Pharma Limited — Earnings Release 2026

Feb 3, 2026

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February 3, 2026

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 Q3FY26.

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: 2026.02.03 16:17:11 +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 11.5%; adj. EBITDA margin 25.9% in Q3FY26.

New Delhi, India, 03 February, 2026: Mankind Pharma (BSE: 543904 | NSE: MANKIND) India’s fourth largest pharmaceutical Company today announced its financial results for the third quarter and nine months ended 31[st] December 2025. The information mentioned in this release is based on consolidated financial statements.

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Revenue Dom. Revenue Adj. EBITDA [1]
INR 3,567 Crore INR 3,046 Crore INR 923 Crore
Q3 FY26
11.5% YoY
11.1% YoY 25.9% Margin
Revenue Dom. Revenue Adj. EBITDA [1]
INR 10,835 Crore
INR 9,331 Crore INR 2,696 Crore
9M FY26
18.7% YoY
14.8% YoY 24.9% Margin
–
Mr. Rajeev Juneja Vice Chairman & Managing Director
“Mankind’s revenue increased 11.5% YoY, with adj. EBITDA margins [1] of 25.9%,
primarily due to improvement in domestic pharma and BSV consolidation.
Mankind’s chronic share increased by 200bps YoY to 39.3% driven by strong growth of
16.7% in cardiac and 14.4% in anti-diabetes. Revenue from OTC grew by 5.2% in Q3FY26
vs -2.6% in Q2FY26. We expect growth to improve further.
BSV growth initiatives progressing well; Strong double-digit growth in Q3.
We remain confident of delivering long term sustainable growth anchored by four key
pillars - steady base business, fast growing specialty chronic, high potential OTC
business, and super specialty BSV portfolio.”
1. Adjusted with one time impact of labour code regulations and other non-recurring cost (Refer note 8 of Consolidated Financial
Results)
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Press Release

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Q3 FY26 Performance Summary

• Revenue from Operations at INR 3,567 Cr, up by 11.5% YoY

  • Domestic revenue at INR 3,046 Cr, up 11.1%, Exports at INR 521 Cr, up 14.1% YoY

• Adjusted EBITDA[1] margin of 25.9% and PAT margin of 11.6%

• Diluted EPS[2] of INR 9.9 up by 6.7% YoY (FV Re.1)

1. Adjusted with one time impact of labour code regulations and other non-recurring cost (Refer note 8 of Consolidated Financial Results) 2. Diluted EPS not annualised

9M FY26 Performance Summary

• Revenue from Operations at INR 10,835 Cr, up by 18.7% YoY

  • Domestic revenue at INR 9,331 Cr up 14.8%, Exports at INR 1,504 Cr up 50.8% YoY

• Adjusted EBITDA[1] margin of 24.9% and PAT margin of 12.7%

• Diluted EPS[2] of INR 32.9 down by 15.4% YoY (FV Re.1)

• CFO to Adjusted EBITDA ratio was 93% for 9MFY26 vs 80% in FY25

1. Adjusted with one time impact of labour code regulations and other non-recurring cost (Refer note 8 of Consolidated Financial Results) 2. Diluted EPS not annualised

Domestic Business[1]

• Domestic revenue[2] registered a growth of 11.1% YoY driven by growth in base business, further aided by BSV consolidation

• Secondary sales growth of 8.5% vs 11.8% IPM – primarily due to underperformance in acute therapies amid ongoing corrective actions

• Strong performance in chronic growth with 16.7% growth in Cardiac and 14.4% in AntiDiabetics

• 1.9x outperformance in Anti-Diabetes (ex-GLP1 new launches) - 14.4% vs 7.7% IPM growth

• Strong growth in key focused brands:

• c.21% growth in Telmikind family and 23%+ in Lipirose / Statpure in cardiac during Q3 and 9M FY26

• Glizid brand family crossed Rs 200 Cr in MAT Dec’25 (30%+ growth); increasing the total brand families >Rs 200 Cr to #13 from #11 in FY25

• Consistently maintained #1 rank over last 8 years with prescription share of 15.2%

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

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

Press Release

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Consumer Healthcare Business[1]

• Revenue[2] growth of 5.2% YoY in Q3FY26 vs -2.6% in Q2FY26, regaining sequential growth momentum

• MT & E-Com share increased to 13.1% in Q3FY26 as compared to 9.8% in Q3FY25 supported by 40%+ growth

• Healthy growth in secondary sales for Gas-o-fast, Manforce Condom and Ova news of 33%, 8% and 36% YoY respectively in Q3FY26

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

Exports

• Revenue growth of 14% YoY primarily driven by healthy growth in BSV international business

• Mankind excluding BSV has launched 4 new products in 9MFY26 taking the total launched products to 48 in US

Consolidated Profit & Loss Account

In INR Crore	Q3 FY26	Q3 FY25	YoY%	Q2 FY26	**QoQ% **
Revenue from Operations	3,567	3,199	11.5%	3,697	(3.5%)
Gross Margins %	72.6%	70.9%	_170 bps _	71.3%	_130 bps _
EBITDA	816	819	(0.4%)	924	(11.6%)
EBITDA Margin %	22.9%	25.6%	(270 bps)	25.0%	(210 bps)
Adjusted EBITDA	9231	8832	4.6%	924	(0.1%)
Adjusted EBITDA Margin %	25.9%1	27.6%2	(170 bps)	25.0%	_90 bps _
PAT	414	378	9.5%	520	(20.4%)
PAT Margin %	11.6%	11.8%	(20 bps)	14.1%	(250 bps)

1. Adjusted with one time impact of labour code regulations and other non-recurring cost (Refer note 8 of Consolidated Financial Results)

2. Adjusted with one time M&A related expenses & other non-recurring cost

In INR Crore	9M FY26	9M FY25	YoY%
Revenue from Operations	10,835	9,128	18.7%
Gross Margins %	71.4%	71.4%	-
EBITDA	2,590	2,345	10.4%
EBITDA Margin %	23.9%	25.7%	(180 bps)
Adjusted EBITDA	2,6961	2,4502	10.1%
Adjusted EBITDA Margin %	24.9%1	26.8%2	(190 bps)
PAT	1,379	1,578	(12.6%)
PAT Margin %	12.7%	17.3%	(460 bps)
Diluted EPS(INR)3	32.9	38.8	(15.4%)
Cash EPS(INR)3	49.2	48.6	1.4%

1. Adjusted with one time impact of labour code regulations and other non-recurring cost (Refer note 8 of Consolidated Financial Results)

2. Adjusted with one time M&A related expenses & other non-recurring cost

3. Diluted EPS and Cash EPS not annualised

Press Release

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Segmental Revenue Break Up

In INR Crore	Q3 FY26		Q3 FY25		YoY%	Q2 FY26	Q2 FY26	**QoQ% **
Domestic	3,046		2,742		11.1%	3,184		(4.3%)
 Consumer Healthcare	203		193		5.2%	226		(10.2%)
Exports	521		457		14.1%	513		1.6%
Total	3,567		3,199		11.5%	3,697		(3.5%)
In INR Crore			9M FY26		9M FY25			YoY%
Domestic			9,331		8,131			14.8%
 Consumer Healthcare			666		631			5.5%
Exports			1,504		997			50.8%
Total			10,835		9,128			18.7%

Earning Concall Details

Date	3rd February, 2026
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.

Press Release

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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 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