Slide 1: Investor Presentation Q2 FY26
ig Mankindil> INVESTOR PRESENTATION Q2 FY26 November, 2025
Slide 2: 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 – Q2 FY26 • Key Strengths • P & L Highlights – Q2 and H1 FY26 • Strategy Going Ahead • Key Fin
Slide 3: Financial Performance
ig Mankindii> Sirois Life Financial Performance
Slide 4: Key Financials – Q2 FY26
Mr. Rajeev Juneja Segmental Revenue Break - Up Vice Chairman & Managing Director • “Mankind’s revenue increased by 20.8% supported by outperformance in Chronic and BSV consolidation, partially impacted by GST disruption. 14% 7% • While chronic continued an outperformance led by 1.3x and 1.2x in Card
Slide 5: P&L Highlights – Q2 and H1 FY26
YoY QoQ YoY INR Cr Q2FY26 Q2FY25 Q1FY26 H1FY26 H1FY25 Growth Growth Growth Revenue from Operations 3,697 3,061 20.8% 3,570 3.6% 7,268 5,929 22.6% (A=B+C) Domestic Business (B) 3,184 2,780 14.5% 3,101 2.7% 6,285 5,389 16.6% i. Domestic Business (ex CH) 2,958 2,548 16.1% 2,864 3.3% 5,822 4,951 17.6% i
Slide 6: Key Financial Metrics – Q2 FY26
Cash Flow from Operations (INR Cr) CAPEX (INR Cr) ROCE2 CFO to CAPEX as 84% 80% 75% 92% 3.8% 4.3% 4.3% 4.0% EBITDA % of Rev With BSV With BSV 531 Acquisition Acquisition 2,152 2,413 1,139 1,637 253 290 389 40% 41% 34% 35% 593 797 128 163 546 840 125 127 11%* 11%* FY24 FY25 H1FY25 H1FY26 FY24 FY25 H1
Slide 7: Business Updates
ig Mankindil> Jeroing Life Business Updates
Slide 8: Strong Growth in Domestic Revenue
Strong Growth in Domestic Revenue1,2 INR Cr 10,675 9,447 8,453 3,184 2,780 FY23 FY24 FY25 Q2FY25 Q2FY26 Domestic revenue2 registered a growth of 15% YoY driven by growth in base business and BSV consolidation Secondary sales3 growth of 6.3% vs 7.2% IPM - volume underperformance in Sep’25 after h
Slide 9: Consistent focus to increase chronic contribution
Consistent focus to increase chronic contribution BSV’s super specialty portfolio Mankind Consolidated 39.0 38.9 39.0 38.9 38.3 38.3 37.6 37.5 37.6 37.6 38.3 39.0 37.5 38.9 37.1 37.5 37.1 35.4 35.3 35.6 34.0 35.1 33.4 32.7 34.1 17.4 15.4 14.4 14.5 14.5 FY23 FY24 FY25 Q2FY25 Q2FY26 FY23 FY24 FY25 Q2F
Slide 10: High Ranks across Acute and Chronic Areas
High Ranks across Acute and Chronic Areas Q2FY26 - Sales Mix representing Diversified Therapy Presence Rank in FY 21-25 CAGR MS% Key Therapy Areas CVM 11% (Q2FY26) 2% 15% (Q2FY26) Mankind IPM Cardiovascular Anti-Infectives Chronic therapies 3 4.3% 13% 10% 4% Gynaecology Gastro Intestinal Cardiovascu
Slide 11: Strong Growth in Domestic Revenue H1FY26
Strong Growth in Domestic Revenue Consumer Healthcare Segment Revenue from Exports (INR crore) Revenue (INR crore) (INR crore) 6,285 438 463 82% 982 5,389 540 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 1.7x outperformance 1.2x outperformance to IPM chronic IPM vs Mankind Growth - H1FY26* to IPM Volum
Slide 12: Consumer Healthcare Segment
Consumer Healthcare Segment Revenue (INR Cr) EBITDA % 19.9% 19.0% 19.1% 18.0% 809 692 706 -3% 232 226 FY23 FY24 FY25 Q2FY25 Q2FY26 Revenue 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
Slide 13: 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 14: Consumer healthcare marketing campaigns
xx Launched India’s first Introduced a humorous spin with the AI Brand Ambassador - Myra Kapoor ‘Pari Chod Ke Jati Hai’ campaign, DOSHOBHUJA campaign at Durga Puja pandals in Mumbai with influencers emphasizing family planning Installed 30 benches in 10+ Lucknow Chemist TVC campaign featuring Promot
Slide 15: Brand campaigns and activations
Amplification of the TVC campaign with Independence Day digital initiative DVC and sampling partnership with Amplification of DVC campaign with Paresh Rawal advocating for ‘Make in India’ solutions Haldiram to promote the vegetarian brand ambassador Ranveer Singh segment Impactful print ads in top O
Slide 16: Revenue from Exports
Revenue from Exports (INR Cr) 1,532 813 513 296 281 FY23 FY24 FY25 Q2FY25 Q2FY26 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 16
Slide 17: ESG: Organization Focus on Sustainable Growth – H1FY26
ESG : Organization Focus on Sustainable Growth – H1FY26 Key Key Key Adoption of Zero Reportable Lost Time Highlights Initiatives Priorities Technologies accidents across all manufacturing units • 67.2% of treated waste water • Training and Capacity building • ESG screening/assessment for • Implement
Slide 18: Additional Information
ig Mankindii> Serving Life y/ Additional Information
Slide 19: 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 20: 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 21: 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 22: Expansion in Specialty and Super Specialty
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 23: 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 24: 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 25: 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 26: 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 27: 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 28: 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 29: Shareholding Pattern
BSE Ticker 543904 1.4% 4.2% 7.8% NSE Symbol MANKIND # of Shares outstanding* 41,27,58,490 13.9% Share Price* 2,435.70 Market Cap. (INR Crore)* 1,00,536 % Free Float 27.3 72.7% Free Float Market Cap. (INR Cr) 27,446 Industry Pharmaceuticals Promoters FPI & Bodies Corporate Mutual Funds Retail Others
Slide 30: Annexures: Formulas and 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 31: 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 32: Q2 FY26 Earnings Call Details
Date 6th November, 2025 Time 6:00 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=9062088&linkSecurityString=4507d7e628 32
Slide 33: 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