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Mankind Pharma Limited (MANKIND) Fair Value & Analysis

Healthcare · IN · Market cap ₹1.0T

MP Mankind Pharma Limited MANKIND · NSE
Price₹2,404
Fair Value₹983.11
Upside-59.1%
Quality52/100
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Healthy Growth
Solidly profitable · 13.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Moderate moat 52/100
Evidence: High Range ₹596.50 – ₹1,264 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price −5.0% over the past month.

A solid business, but screening 59% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹1,264). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹596.50 to ₹1,264) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

₹2,997 ₹1,322 Fair Value ₹983.11 May 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

39‑month range ₹1,322 – ₹2,997 · fair‑value band ₹596.50 – ₹1,264 · the ₹2,404 price screens above the ₹983.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Mankind Pharma Limited (MANKIND) currently trades at ₹2,404, while our model-based Fair Value estimate is ₹983.11, implying the stock looks roughly 59.1% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Mankind Pharma Limited generated revenue of ₹143B at a net margin of 13.4%. Revenue grew 11.8% year over year. It earns a return on equity of 12.5%. Net debt stands at ₹58.3B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹596.50 (bear case) to ₹1,264 (bull case); at ₹2,404, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -40% fair-value upside, at -59%, MANKIND screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹630.15 ₹1,425 ₹2,776 80
Residual Income ₹367.81 ₹451.14 ₹1,180 76
Rev-Margin DCF ₹588.38 ₹1,170 ₹1,995 74
All 26 models by family
DCF Models
FCF DCF ₹650.63 ₹1,261 ₹2,897 38
Owner Earnings ₹756.70 ₹1,694 ₹3,619 31
5Y Revenue Exit ₹588.38 ₹1,198 ₹2,079 39
5Y EBITDA Exit ₹778.12 ₹1,626 ₹2,770 41
5Y P/E Exit ₹670.84 ₹1,384 ₹2,264 38
10Y Revenue Exit ₹581.03 ₹1,201 ₹2,232 36
10Y EBITDA Exit ₹738.77 ₹1,539 ₹2,921 37
10Y P/E Exit ₹663.21 ₹1,348 ₹2,448 35
Earnings-Based
Graham-Dodd ₹314.96 ₹1,926 ₹2,686 54
Lynch FV ₹551.51 ₹787.88 ₹1,024 50
PEG = 1.0 ₹551.51 ₹787.88 ₹1,024 46
EPV ₹509.16 ₹609.00 ₹697.75 59
Dividend Discount
Gordon GGM ₹9.61 ₹20.98 ₹35.31 70
DDM Multi-Stage ₹9.61 ₹17.19 ₹21.87 61
Multiples
P/E Multiple ₹764.25 ₹1,019 ₹1,274 63
P/S Multiple ₹590.56 ₹787.41 ₹984.27 58
P/B Multiple ₹590.56 ₹787.41 ₹984.27 55
EV/EBIT ₹786.56 ₹1,068 ₹1,349 53
EV/EBITDA ₹863.07 ₹1,170 ₹1,476 54
EV/Revenue ₹545.18 ₹803.10 ₹1,061 43
Asset-Based
NCAV (Graham) ₹197.34 ₹264.44 ₹394.69 50
Growth DCF
Growth DCF ₹630.15 ₹1,425 ₹2,776 80
Rev-Margin DCF ₹588.38 ₹1,170 ₹1,995 74
Economic Profit
Residual Income ₹367.81 ₹451.14 ₹1,180 76
ROIC Compounder ₹592.79 ₹930.33 ₹1,209 72
Growth Earnings
Growth-Adj P/E ₹812.57 ₹1,161 ₹1,509 68

Widest divergence: DCF Models (₹1,348) versus Dividend Discount (₹17.19). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹143B
Revenue growth (YoY) +11.8%
Net margin 13.4%
Return on equity 12.5%
Free cash flow ₹18.9B FY2026
P/E ratio 52.0
More key figures
Operating margin 20.6%
EPS (TTM) ₹46.25
EPS growth (YoY) +31.7%
Net debt ₹58.3B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 54 · Market factors (momentum, volatility) 59

Profitability 46
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 29
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 66
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations and consumer healthcare products in India and internationally.

Full company description

Mankind Pharma Limited develops, manufactures, and markets pharmaceutical formulations and consumer healthcare products in India and internationally. The company develops pharmaceuticals for acute and chronic therapeutics in the areas of anti-infective, cardiovascular, gastrointestinal, gynaecology, anti-diabetic, dermatology, pain/analgesics, neuro/CNS, vitamins/minerals/nutrients, respiratory diseases, etc. It also provides consumer healthcare products, such as condoms, pregnancy detection kits, oral contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparations. In addition, the company engages in the trading and exporting of pharmaceutical and health care products; manufacture of packing materials, ayurvedic products, and consumer goods; real estate, leasing, and hospitality businesses; trading of agricultural products; and provision of IT services. It offers its products under the Manforce, Moxi Kind-Cv, AmLokind-At, Unwanted-Kit, Prega News, Dydroboon, Gudcef, Candi Force, Glimestar-M, Telmikind-Am, Nurokind-Gold, Telmikind-H, Nurokind-Lc, Telmikind, Vomikind, Cefakind, Nurokind Plus-Rf, Gudcef-Cv, Monticope, and Asthakind-Dx brand names. Mankind Pharma Limited was incorporated in 1991 and is based in New Delhi, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Mankind Pharma Limited reported revenue of ₹143B in FY2026 versus ₹77.8B in FY2022, a compound +16.4%/yr. Reported net income was ₹19.1B in FY2026, compounding +7.5%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹143B
Latest YoY
+17.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.1%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.2%
Revenue +16.4%/yr
FY22 ₹77.8B
FY23 ₹87.5B
FY24 ₹103B
FY25 ₹122B
FY26 ₹143B
Net income +7.5%/yr
FY22 ₹14.3B
FY23 ₹12.8B
FY24 ₹19.1B
FY25 ₹19.9B
FY26 ₹19.1B

MANKIND screens 59% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

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Cite: Fair Value Calculator (2026). "Mankind Pharma Limited Fair Value". https://www.fairvalue-calculator.com/stock/MANKIND

Peer Group

Drug Manufacturers - Specialty & Generic · 624 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 52 · Below median
Fair Value upside −59% · Bottom 25%
Return on equity (TTM) 12% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 52.0× · Pricier than 75% of peers
P/B 6.33× · Pricier than 75% of peers
P/S (TTM) 7.23× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 29.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 6
FUTURE 59 · sector 21
PAST 50 · sector 25
HEALTH 91 · sector 97
DIVIDEND 0 · sector 34

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 -52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹8,500 ₹1,932 -77%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,915 ₹1,163 -76%
PharmaEssentia Corporation 6446 1,440 TWD 233.93 TWD -84%
Cipla Limited CIPLA ₹1,463 ₹1,001 -32%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,167 ₹703.32 -40%
Lupin Limited LUPIN ₹2,281 ₹2,477 +9%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,200 ₹874.79 -27%
Aurobindo Pharma Limited AUROPHARMA ₹1,667 ₹1,340 -20%

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Frequently asked questions

Is Mankind Pharma Limited (MANKIND) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹983.11 versus a price of ₹2,404, about −59% (overvalued).
What is the fair value of MANKIND?
Our model-based fair value for Mankind Pharma Limited is ₹983.11 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹2,404.
What is the quality score of MANKIND?
Mankind Pharma Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mankind Pharma Limited (MANKIND)?
Mankind Pharma Limited reported trailing-twelve-month revenue of about ₹143B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MANKIND?
The net profit margin of Mankind Pharma Limited is about 13.4%, meaning it keeps roughly 13.4% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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