Mankind Pharma Limited — Investor Meet, 11-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Mankind Pharma’s financial results for the quarter and half-year showed Q2 revenue up 21% YoY to INR 3,697 Cr, but PAT declined 21.3% to INR 520 Cr, with EBITDA margin at 25%. H1 revenue rose 23% to INR 7,268 Cr, with EBITDA margin at 24.4%. Domestic business grew 15% (organic ~6%) impacted by GST and internal transformations. Chronic share increased to 37.1%. Exports surged 83% (organic mid-single digit) due to BSV consolidation. Management acknowledged Q2 underperformance due to wide-ranging changes and GST, targeting 1.1-1.2x IPM outperformance in H2. BSV's sequential growth is strong; FY'26 growth guidance is 18-20%. The company expects margins to recover and is strategically focused on long-term growth.