Financial Performance Q2 FY27

  • Revenue from Operations: ₹4,338 Crore, representing 17.3% YoY growth (Q2 FY26: ₹3,697 Crore)
  • Domestic Business: ₹3,657 Crore (14.8% YoY growth)
  • Domestic Business (ex-Consumer Healthcare): ₹3,428 Crore (15.9% YoY growth)
  • Consumer Healthcare (CH): ₹229 Crore (1.2% YoY growth)
  • Exports Business: ₹681 Crore (32.7% YoY growth)
  • Gross Profit: ₹3,134 Crore (18.9% YoY growth)
  • Gross Margins: 72.2% (90 bps improvement YoY)
  • EBITDA: ₹1,175 Crore (27.2% YoY growth)
  • EBITDA Margin: 27.1% (210 bps improvement YoY)
  • Profit After Tax: ₹716 Crore (37.7% YoY growth)
  • PAT Margin: 16.5% (240 bps improvement YoY)
  • Diluted EPS: ₹17.2 (38.9% YoY growth)
  • Cash EPS: ₹22.9 (29.1% YoY growth)

Financial Performance H1 FY27

  • Revenue from Operations: ₹8,368 Crore (15.1% YoY growth)
  • PAT: ₹1,290 Crore (33.7% YoY growth)
  • EBITDA: ₹2,235 Crore (26.0% YoY growth)
  • EBITDA Margin: 26.7% (230 bps improvement YoY)

Business Updates - Q2 FY27

Domestic Business (ex-CH):

  • Revenue growth of 15.9% YoY driven by 1.1x volume outperformance to Indian Pharmaceutical Market (IPM)
  • Chronic portfolio outperformance of 1.1x with Cardiac growing 19% and Diabetes growing 16%
  • Acute portfolio outperformance of 1.1x with Gastro growing 19% and VMN growing 26%
  • Strong growth in key brands: Pantakind (31%), Dydroboon (19%), Cefakind-CV (18%), Nurokind-LC (18%)
  • Chronic brands: Pangraf (60%), Placida (28%), Telmikind-AM (16%), Glizid-M (15%)
  • Maintained #1 rank over last 9 years with prescription share of 15.2% and prescriber penetration of 84.4% in MAT Aug'26
  • Number of brands with sales above ₹50 crore increased to 63 in MAT Sep'26 from 54 in FY26
  • Number of brands with sales over ₹100 crore rose to 26 from 22

Consumer Healthcare Business:

  • Revenue growth impacted by slower industry offtake and regional impacts in East and South
  • Gained market share in key brands Manforce and Preganews
  • Modern Trade & E-Commerce share increased to 18% in Q2FY27 from 12% in Q2FY26, supported by 55% growth
  • Secondary sales growth for Preganews (14% YoY) and Ova news (10% YoY)

Export Business:

  • Strong 33% growth driven by both Mankind and BSV International businesses
  • Launched 1 new product in US in Q2FY27, taking total launched products to 50 in US

Strategic Development:

  • Acquisition of Armed Cell Therapeutics marks strategic entry into Next-Generation CAR-T therapies
  • Strengthens R&D capabilities for future growth

ESG Updates:

  • Annual FY26 BRSR-compliant ESG disclosures to SEBI with first-time independent assurance of full BRSR
  • Climate Risk assessment following TCFD framework
  • 94% of significant suppliers screened on ESG parameters
  • 213 suppliers endorsed Third Party Code of Conduct (TCOC)
  • International Safety Award from British Safety Council for Unit-I, II, BSV and API-1
  • Gold Medal in IGMC Assessment for BSV
  • Zero Reportable Lost Time accidents across all manufacturing units

Capital Structure and Efficiency

  • Net Debt: ₹2,639 Crore
  • Net Debt/Adj. EBITDA: 0.6x
  • ROCE/Adj. ROCE: 14%/45%
  • Number of shares outstanding: 41,30,45,090
  • Market Capitalization: ₹1,03,418 Crore (at share price of ₹2,503.80)
  • Free Float: 26.4%
  • Free Float Market Cap: ₹27,302 Crore

Corporate Overview

  • 4th Largest Pharma Company in India with market share of 4.7% in MAT Mar'26
  • Revenue CAGR FY21-26: 16%
  • FY26 Revenue: ₹14,278 Crore
  • FY26 Domestic Revenue: ₹11,768 Crore
  • FY26 Adj. EBITDA Margin: 26.6%
  • FY26 PAT Margin: 15.8%

Investor Communication

Earnings call scheduled for October 26, 2026, at 5:00 PM - 6:00 PM IST via Zoom.