Mankind Pharma Ltd. · NSE:MANKIND
Mankind Pharma — Q3 FY26 Earnings Presentation
31 slides from Mankind Pharma's earnings presentation, Feb 3, 2026
Slide 1: Cover letter to stock exchanges
~ Mankind/II,._ February 3, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 543904 Symbol: MANKIND Dear Sir/ Madam, Subject: Investor Presentation Pursuan
Slide 2: Investor Presentation Q3 FY26
ig Mankindil> INVESTOR PRESENTATION Q3 FY26 February, 2026
Slide 3: Index
Index 03 Additional Information • Mankind Pharma at a Glance (FY25) • Key Milestones • BSV at a Glance (FY25) • Expansion in Specialty and Super Specialty 01 Financial Performance Segments • Key Financials – Q3 FY26 • Key Strengths • P & L Highlights – Q3 and 9M FY26 • Strategy Going Ahead • Key Fin
Slide 4: Financial Performance
ig Mankindii> Sirois Life Financial Performance
Slide 5: Key Financials – Q3 FY26
Mr. Rajeev Juneja Segmental Revenue Break - Up Vice Chairman & Managing Director • Mankind’s revenue increased 11.5% YoY, with adj. EBITDA margins1 of 25.9%, primarily due to improvement in domestic pharma and BSV consolidation. 15% 7% • Mankind’s chronic share increased by 200bps YoY to 39.3% drive
Slide 6: P&L Highlights – Q3 and 9M FY26
YoY QoQ YoY INR Cr Q3FY26 Q3FY25 Q2FY26 9MFY26 9MFY25 Growth Growth Growth Revenue from Operations 3,567 3,199 11.5% 3,697 -3.5% 10,835 9,128 18.7% (A=B+C) Domestic Business (B) 3,046 2,742 11.1% 3,184 -4.3% 9,331 8,131 14.8% i. Domestic Business (ex CH) 2,843 2,549 11.5% 2,958 -3.9% 8,665 7,500 15.
Slide 7: Key Financial Metrics – Q3 FY26
Cash Flow from Operations (INR Cr) CAPEX (INR Cr) ROCE2 CFO to CAPEX as 84% 80% 68% 93% 3.8% 4.3% 3.8% 4.4% EBITDA % of Rev With BSV With BSV With BSV 531 Acquisition Acquisition Acquisition 2,152 2,413 1,599 2,398 344 473 389 40% 40% 37% 34% 460 761 91* 183 593 797 128 163 546 840 125 11%* 11%* 11%
Slide 8: Business Updates
ig Mankindil> Jeroing Life Business Updates
Slide 9: Strong Growth in Domestic Revenue
Strong Growth in Domestic Revenue1,2 INR Cr 10,675 9,447 8,453 2,742* 3,046 FY23 FY24 FY25 Q3FY25 Q3FY26 Domestic revenue2 registered a growth of 11.1% YoY driven by growth in base business, further aided by BSV consolidation Secondary sales3 growth of 8.5% vs 11.8% IPM – primarily due to underp
Slide 10: Consistent focus to increase chronic contribution
Consistent focus to increase chronic contribution BSV’s super specialty portfolio Mankind Consolidated 39.0 39.1 40.8 40.8 37.6 38.3 35.8 37.8 40.8 34.0 35.4 39.0 39.1 39.3 37.6 38.3 39.0 39.1 32.7 38.3 37.6 37.1 37.6 35.6 34.1 17.4 15.4 16.3 16.6 14.4 FY23 FY24 FY25 Q3FY25 Q3FY26 FY23 FY24 FY25 Q3F
Slide 11: High Ranks across Acute and Chronic Areas
High Ranks across Acute and Chronic Areas Q3FY26 - Sales Mix representing Diversified Therapy Presence Rank in FY 21-25 CAGR MS% Key Therapy Areas CVM 10% (Q3FY26) 16% (Q3FY26) Mankind IPM 2% Cardiovascular Anti-Infectives 4% Chronic therapies 3 4.3% 13% 10% Gynaecology Respiratory Cardiovascular 3
Slide 12: Strong Growth in Domestic Revenue
Strong Growth in Domestic Revenue Consumer Healthcare Segment Revenue from Exports (INR Cr) Revenue (INR Cr) (INR Cr) 9,331 666 50.8% 1,504 631 8,131 997 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 1.1x outperformance to IPM chronic IPM vs Mankind Value Growth – 9MFY26* IPM vs Mankind Volume Growth –
Slide 13: Consumer Healthcare Segment Revenue
Consumer Healthcare Segment Revenue (INR Cr) EBITDA % 19.9% 19.0% 17.2% 17.2%1 809 692 706 5% 193 203 FY23 FY24 FY25 Q3FY25 Q3FY26 Revenue 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 Q3
Slide 14: Strategically selected national and regional brand ambassadors
Strategically selected national and regional brand ambassadors Corporate Brand Ambassadors Dominant Brands Consumer Healthcare Brand Ambassadors #1 Condom Brand Sunny Radhika Leone Apte Market Share – 28% #1 Anushka Kajal Srabanti Pregnancy Test Kit Brand Sharma Aggarwal Chatterjee Market Share* – 8
Slide 15: Revenue from Exports
Revenue from Exports (INR Cr) 1,532 813 457* 521 296 FY23 FY24 FY25 Q3FY25 Q3FY26 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 *Includes BSV fr
Slide 16: Additional Information
ig Mankindii> Serving Life y/ Additional Information
Slide 17: Mankind Pharma at a Glance (FY25)
Rank in Prescriptions over Rank by volume in Rank by value in Consumer Healthcare brands Market the last eight years2 IPM2 IPM2 ranked #1 in their categories2 Leadership Brand families2 worth FY25 Revenue FY25 Domestic Revenue Mar’25 Field force3 INR 50/100 Cr+ Scale Revenue CAGR FY21-25 Domestic Bu
Slide 18: Key Milestones
1995 2004 2007-10 2018-19 2020-21 2022 2023 2024 Entered into in- Acquired 100% stake in licensing agreements BSV Limited Successfully listed Commenced Entered chronic Entered Paonta Sahib Launched dedicated specialty Acquired brands with: on NSE and BSE operation in 1995 pharmaceutical consumer fac
Slide 19: BSV at a Glance (FY25)
BSV at a Glance (FY25) Focused Therapy Presence Differentiated Tech Platforms FY 25 Sales Mix International India 49% 51% Women’s Fertility Critical Recombinant Tech Complex Immunoglobulins Health Care and Niche Biologics Delivery Systems Key Initiatives Recombinant Liposomal Anti-thymocyte Domestic
Slide 20: Expansion in Specialty and Super Specialty Segments
Mass Market Specialty Chronic (Acute/ Chronic / Semi Chronic) (Cardio / Diabeto / CNS) Consumer Healthcare (OTC) BSV - Super Specialty Targeted Medical Practitioners Targeted Medical Practitioners Targeted Medical Practitioners GP CP MD MD DM KOL GT MT ECOM MD DM KOL INR 9,866 Cr 28% / 37% ~INR 809
Slide 21: Key Strengths
India revenues contribute 87% of total revenues in FY251 Focus on Focus on Consistent CFO/ EBITDA ratio of ~80% domestic domestic during FY25 business Volume- Best in class business cash growth driven #2 rank by volume in IPM2 conversion by metrics 1 affordability 9 2 Strong 75% of manufacturing in-
Slide 22: Strategy Going Ahead
Consolidate market share in increased CVM - Deeper penetration in incremental CVM1 (62% in FY21 to 72% in FY25) driven by volume focused growth and scaling up brands. Increasing chronic share - Increasing presence in chronic therapies (Diabetes – Empagliflozin, and Insulin Glargine, Respiratory – In
Slide 23: Consistently Built and Scaled Brands
CAGR Key Brands1 >INR 500 Cr Brand Families FY 21 FY 25 (FY21-25) > INR 500 Crore 0 3 15% > INR 200 Crore 7 11 14% Telmikind – Rs 655 Cr Nurokind – Rs 620 Cr > INR 100 Crore 15 23 13% > INR 50 Crore 36 49 12% Key Brands1 added in FY25 >INR 50 Cr Histafree Brutaflam AntiD Urikind Foligraf Hucog As pe
Slide 24: Expansion in Specialty Products
Reference Market Brand Launched Market 5 Therapy Area Indication Size (INR Cr) Rationale (Year) – FY25 Year CAGR # (FY22) • Neptaz – In-licensed from Novartis. Strong Revenue and Volume Heart Failure 7251 19% growth. Ranks in the top 5 in its market. • Crenzlo - In-licensed from Novartis, to foray i
Slide 25: Financials - Steady Growth Trajectory
Revenue (INR Cr) Strong Growth in Domestic Revenue Revenue from Exports (INR Cr) 18% 15% CAGR CAGR 69% 12,207 CAGR 10,260 10,675 1,532 8,749 9,447 7,782 8,453 7,595 6,214 6,028 813 296 186 187 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 EBITDA (INR Cr) and Margin %(2)
Slide 26: Key Performance Highlights
Key Performance Highlights FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Value Growth YoY in IPM (%) 11.3 12.6 12.5 11.1 17.7 10.6 8.5 7.5 Market share by Value in IPM (%) 3.9 4.0 4.1 4.3 4.3 4.4 4.4 4.8 Market Ranking by Value in IPM (x) 4 4 4 4 4 4 4 4 CVM share in total IPM (%) 60.2 61.6 62.4 62.2 65.4
Slide 27: Shareholding Pattern
BSE Ticker 543904 1.5% 4.1% 9.3% NSE Symbol MANKIND # of Shares outstanding* 41,28,05,072 12.4% Share Price* 2,196.50 Market Cap. (INR Cr)* 90,673 % Free Float 27.3% 72.7% Free Float Market Cap. (INR Cr) 24,754 Industry Pharmaceuticals Promoters FPI & Bodies Corporate Mutual Funds Retail Others Shar
Slide 28: Annexures – Definitions
• ROCE = (EBIT for the year ) / (Capital employed less cash) o EBIT excludes other income o Capital employed is the sum of total equity, total borrowings, total lease liabilities and deferred tax liabilities (net) less deferred tax assets and Cash. • Adjusted ROCE = (Adjusted EBIT for the year )/ (A
Slide 29: Disclaimer
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”
Slide 30: Q3 & 9M FY26 Earnings Call Details
Date 03rd February, 2026 Time 06:00 PM – 07:00 PM IST Dial – In Details Universal Access Numbers +91 22 6280 1102 / +91 22 7115 8003 https://services.choruscall.in/DiamondPassRegistration/register?confirm Diamond Pass ationNumber=9125747&linkSecurityString=48173c408b 29
Slide 31: Thank You
Thank You For more information please visit our website: https://www.mankindpharma.com For specific queries, contact: Abhishek Agarwal Head - Investor Relations 011 – 46846700 Ext. 3532 Investor.relations@mankindpharma.com