Kotak Inst Eqt on Mankind Pharma ; Buy, TP Rs 3035

Reported a strong 2QFY27, driven by healthy growth across domestic formulations, BSV and international markets. It is confident of outperforming IPM by 1.1-1.2X at least over next two quarters. OTC franchise remains sole area of concern, with growth yet to pick up Mankind’s base business is showing tangible signs of recovery, reflected in improving volume growth, a richer chronic-care product mix and sustained momentum in BSV Expect Mankind to report a robust 23% EPS CAGR over FY2026-29.

MANKIND PHARMA LIMITED

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