Mankind Pharma Ltd. share price target

Mankind Pharma’s (MANKIND) reported revenue/EBITDA was in line with expectations for 1QFY27. It missed PAT expectations for the quarter, driven by lower other income and a higher tax rate.

Rising Chronic Portfolio to Improve Growth Quality: The company is progressively increasing its penetration of specialty chronic therapies namely cardiology and diabetes. The pivot to chronic therapies would further add to stability in revenues, operating margins, and long-term earnings power on account of high repeat nature of chronic segment prescription and greater brand stickiness. BSV Acquisition Strengthens Specialty Business: Purchase of BSV bolstered the specialty business and led to a significant leap in women's...

*over or under performance to benchmark index Mankind Pharma is a multinational pharmaceutical and healthcare product company, headquartered in Delhi. It manufactures products in therapeutic areas ranging from...

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Mankind’s domestic formulation (DF) business is witnessing a healthy revival, with Mar’26 growth at 11.5% YoY vs. IPM growth at 10.6% (1.1pp outperformance).

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*over or under performance to benchmark index Mankind Pharma is an Indian multinational pharmaceutical and healthcare product company, headquartered in New Delhi. The company has products in therapeutic areas...

Mankind Pharma (Mankind) reported in-line revenue in 1QFY26. However, EBITDA/PAT came in 5%/7% below our estimates.

Mankind Pharma (Mankind) delivered in-line revenue in 4QFY25; however, EBITDA/PAT came in 14%/12% below our estimates. Higher-than-expected spending on marketing and promotional activities affected the company’s 4Q performance.

Mankind Pharma (Mankind) delivered in-line operational performance for 3QFY25. The earnings were below estimates due to higher interest outgo on debt raised to fund the BSV acquisition.

Mankind Pharma (MANKIND) delivered better-than-expected 2QFY25 performance, fueled by a strong revival in growth of the consumer business and continued growth momentum in the exports business.

MANKIND has a strategic roadmap for growth through expansion in high entry barrier innovative product launches in the chronic/consumer segment and other adjacencies, transitioning from sexual wellness to consumer wellness in the over-the counter (OTC) space.

Mankind Pharma has agreed to acquire Bharat Serum Vaccines (BSV) for EV of INR136b, implying EV/EBITDA of 28x/22-23x on FY24/FY25 basis.

In a span of 30 years, Mankind Pharma (MANKIND) has built a robust domestic
formulation (DF) franchise and become the fourth largest player by market share.

Incorporated in 1991, Mankind Pharma Limited is a pharmaceutical company which is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.

Considering the TTM (Dec-22) /FY23 Annualized EPS of Rs 29.61/33.16 on a post-issue basis, the company is going to list at a P/E of 36.47/32.57x with a market cap of Rs. 4,32,636 mn. whereas its peers namely Sun Pharmaceuticals, Cipla, Alkem Lab and Torrent Pharmaceutical are trading at a P/E of 29.43x, 27.45x, 39.24x, 43.65x.

IPO NOTE