Mankind Pharma Ltd

Mankind Pharma maintains a capital structure characterized by significant leverage relative to equity, with a debt-to-equity ratio of 0.39. The balance sheet reflects total assets of INR 280.8 billion against total liabilities of INR 117.8 billion, resulting in total equity of INR 163.0 billion. Long-term debt stands at INR 63.1 billion, which exceeds the company's cash and equivalents of INR 4.8 billion, creating a net cash position that is negative. Liquidity is assessed as medium, supported by a current ratio of 1.07, indicating that current assets barely cover current liabilities. Operating cash flow is robust at INR 31.2 billion, generating free cash flow of INR 20.5 billion after capital expenditures of INR 7.4 billion.

Profitability metrics indicate efficient capital utilization, with a return on equity (ROE) of 11.74% and a return on assets (ROA) of 6.81%. The company generated net income of INR 19.1 billion on revenue of INR 142.8 billion, reflecting a net margin of approximately 13.4%. Gross profit was INR 102.3 billion, yielding a gross margin of roughly 71.6%, while operating income stood at INR 26.0 billion. These returns suggest a stable operational model, though specific comparisons to cohort medians are not provided in the available data to benchmark relative performance.

Mankind Pharma Ltd (MNKI.NS) has experienced no material changes in its fundamental profile or market signals during the recent analysis period. A comprehensive review of 17 key fields, excluding four schema-expansion fields, confirmed that the company's status remains consistent with prior assessments, indicating a period of operational and informational stability. The absence of significant developments is further underscored by the lack of active analyst coverage and index membership. Current data shows zero analysts tracking the stock and no inclusion in major indices, which suggests limited institutional scrutiny or benchmarking activity for the company at this time. Information flow regarding Mankind Pharma has been exceptionally sparse. Over the 30-day window ending in mid-July 2026, there was only a single dispatch recorded on July 2, 2026, with no other news or sentiment signals generated on any other day. This near-total silence in public reporting reinforces the finding of no material change. The company's corporate structure remains minimal in terms of public officer disclosures, with only one officer count recorded. With no new events, ratings, or holder changes to report, the current landscape for MNKI.NS is defined by continuity rather than transformation, offering no new catalysts for investors based on the available facts.

Analysts project 10.1% upside to a mean price target of 2,667.78, reflecting a consensus buy recommendation.

Cash conversion ratio of 1.63 exceeds the cohort median of 0.95, demonstrating strong cash generation efficiency.

Long-term debt surged to 85.1 billion INR in FY-1, representing a significant increase in leverage.

The debt-to-equity ratio of 0.39 is below the cohort median, but recent debt spikes raise credit concerns.

Medium liquidity and credit risk flags suggest potential challenges in meeting short-term obligations or financing needs.

Revenue INR 34.43B, +14,5% YoY; Operating income +55,3% YoY.

• ▍Revenue INR 34.43B, +14,5% YoY
• ▍Operating income +55,3% YoY
• ▍Net income +31,8% YoY
• ▍Net margin 16.1%

Revenue INR 35.67B, +10,4% YoY; Operating income −7,4% YoY.

• ▍Revenue INR 35.67B, +10,4% YoY
• ▍Operating income −7,4% YoY
• ▍Net income +7,5% YoY
• ▍Net margin 11.5%

Revenue INR 36.97B, +20,8% YoY; Operating income −6,3% YoY.

• ▍Revenue INR 36.97B, +20,8% YoY
• ▍Operating income −6,3% YoY
• ▍Net income −21,7% YoY
• ▍Net margin 13.8%

Revenue INR 35.70B, +24,5% YoY; Operating income +10,4% YoY.

• ▍Revenue INR 35.70B, +24,5% YoY
• ▍Operating income +10,4% YoY
• ▍Net income −18,3% YoY
• ▍Net margin 12.3%

Revenue INR 30.08B; Operating income INR 4.41B.

• ▍Revenue INR 30.08B
• ▍Operating income INR 4.41B
• ▍Net margin 14.0%

Revenue INR 32.30B; Operating income INR 6.38B.

• ▍Revenue INR 32.30B
• ▍Operating income INR 6.38B
• ▍Net margin 11.8%

Revenue INR 30.61B; Operating income INR 7.47B.

• ▍Revenue INR 30.61B
• ▍Operating income INR 7.47B
• ▍Net margin 21.3%

Revenue INR 28.68B; Operating income INR 5.69B.

• ▍Revenue INR 28.68B
• ▍Operating income INR 5.69B
• ▍Net margin 18.7%

Revenue INR 142.78B, +17,0% YoY; Operating income +1,3% YoY.

• ▍Revenue INR 142.78B, +17,0% YoY
• ▍Operating income +1,3% YoY
• ▍Net income −3,9% YoY
• ▍Free cash flow −2,4% YoY
• ▍Net margin 13.4%

Revenue INR 122.07B, +19,0% YoY; Operating income +20,2% YoY.

• ▍Revenue INR 122.07B, +19,0% YoY
• ▍Operating income +20,2% YoY
• ▍Net income +4,1% YoY
• ▍Free cash flow +8,7% YoY
• ▍Net margin 16.3%

Revenue INR 102.60B, +17,3% YoY; Operating income +35,7% YoY.

• ▍Revenue INR 102.60B, +17,3% YoY
• ▍Operating income +35,7% YoY
• ▍Net income +49,2% YoY
• ▍Free cash flow +140,2% YoY
• ▍Net margin 18.6%

Revenue INR 87.49B, +12,4% YoY; Operating income −15,0% YoY.

• ▍Revenue INR 87.49B, +12,4% YoY
• ▍Operating income −15,0% YoY
• ▍Net income −10,6% YoY
• ▍Free cash flow +210,7% YoY
• ▍Net margin 14.7%