Mankind Pharma Ltd.
•₹ 2,384-0.04%
2026-08-21
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 29.1% YoY, showing strong momentum
- Company has delivered good sales growth of 18.1% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.31x)
- Working capital cycle has improved - days down from 38 to 11
- Company generates healthy free cash flow
CONS
- Promoter holding has decreased over last 2 years: -2.2pp
- Company has delivered a poor profit growth of 8.4% over past five years
- Stock is trading at 5.1x its book value
- Though reporting repeated profits, the company pays out little dividend (2.2%)
- Expensive relative to growth - PEG of 3.5
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SUNPHARMA | 1898.00 | 37.65 | 455393.78 | 0.84 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| 2. | DIVISLAB | 8525.00 | 77.37 | 226311.96 | 0.35 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| 3. | TORNTPHARM | 5013.00 | 87.43 | 190678.41 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| 4. | CIPLA | 1416.00 | 33.94 | 114392.01 | 0.92 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| 5. | ZYDUSLIFE | 1105.00 | 24.42 | 110224.17 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| 6. | LUPIN | 2220.00 | 18.36 | 101506.15 | 0.81 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| 7. | MANKIND | 2391.00 | 48.34 | 98747.34 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| 8. | DRREDDY | 1171.00 | 30.33 | 97740.54 | 0.68 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| 9. | LAURUSLABS | 1807.00 | 89.30 | 97634.42 | 0.11 | 3620.70 | 2139.42 | 20263.10 | 1191.00 | 18.20 | 31.50 |
| 10. | AUROPHARMA | 1615.15 | 25.03 | 92932.16 | 0.25 | 1032.03 | 25.22 | 9150.35 | 17.44 | 12.76 | 20.54 |
| 11. | BIOCON | 414.30 | 136.32 | 67518.23 | 0.12 | 136.80 | 53.36 | 4336.00 | 10.89 | 3.26 | 19.54 |
| 12. | ALKEM | 5380.50 | 29.82 | 64331.95 | 0.98 | 520.98 | -22.00 | 3740.15 | 10.95 | 21.28 | 20.47 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,579 | 2,708 | 2,607 | 2,422 | 2,868 | 3,061 | 3,199 | 3,079 | 3,570 | 3,697 | 3,567 | 3,443 | 4,031 | |
| 1,924 | 2,025 | 2,000 | 1,836 | 2,196 | 2,214 | 2,383 | 2,396 | 2,724 | 2,776 | 2,648 | 2,513 | 3,310 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 59 | 60 | 70 | 92 | 99 | 109 | 77 | 251 | 80 | 92 | 73 | 114 | 45 |
| Interest | 6 | 9 | 9 | 9 | 11 | 7 | 221 | 191 | 171 | 170 | 157 | 142 | 110 |
| Depreciation | 87 | 96 | 110 | 100 | 103 | 100 | 187 | 231 | 219 | 222 | 223 | 223 | 226 |
| 620 | 638 | 558 | 570 | 657 | 849 | 485 | 513 | 537 | 622 | 506 | 656 | 769 | |
| Tax % | 21.02% | 20.36% | 18.38% | 16.68% | 18.69% | 22.39% | 22.78% | 16.85% | 17.84% | 16.70% | 18.81% | 15.20% | 25.39% |
| Net Profit | 0 | 0 | 0 | 0 | 543 | 659 | 385 | 425 | 445 | 520 | 414 | 559 | 574 |
| 12 | 13 | 11 | 12 | 13 | 16 | 9 | 10 | 11 | 12 | 10 | 13 | 1 | |
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 2,579
- 1,924
- Operating Profit
- —
- OPM %
- —
- Other Income
- 59
- Interest
- 6
- Depreciation
- 87
- 620
- Tax %
- 21.02%
- Net Profit
- 0
- 12
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 2,708
- 2,025
- Operating Profit
- —
- OPM %
- —
- Other Income
- 60
- Interest
- 9
- Depreciation
- 96
- 638
- Tax %
- 20.36%
- Net Profit
- 0
- 13
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 2,607
- 2,000
- Operating Profit
- —
- OPM %
- —
- Other Income
- 70
- Interest
- 9
- Depreciation
- 110
- 558
- Tax %
- 18.38%
- Net Profit
- 0
- 11
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 2,422
- 1,836
- Operating Profit
- —
- OPM %
- —
- Other Income
- 92
- Interest
- 9
- Depreciation
- 100
- 570
- Tax %
- 16.68%
- Net Profit
- 0
- 12
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 2,868
- 2,196
- Operating Profit
- —
- OPM %
- —
- Other Income
- 99
- Interest
- 11
- Depreciation
- 103
- 657
- Tax %
- 18.69%
- Net Profit
- 543
- 13
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 3,061
- 2,214
- Operating Profit
- —
- OPM %
- —
- Other Income
- 109
- Interest
- 7
- Depreciation
- 100
- 849
- Tax %
- 22.39%
- Net Profit
- 659
- 16
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 3,199
- 2,383
- Operating Profit
- —
- OPM %
- —
- Other Income
- 77
- Interest
- 221
- Depreciation
- 187
- 485
- Tax %
- 22.78%
- Net Profit
- 385
- 9
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 3,079
- 2,396
- Operating Profit
- —
- OPM %
- —
- Other Income
- 251
- Interest
- 191
- Depreciation
- 231
- 513
- Tax %
- 16.85%
- Net Profit
- 425
- 10
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 3,570
- 2,724
- Operating Profit
- —
- OPM %
- —
- Other Income
- 80
- Interest
- 171
- Depreciation
- 219
- 537
- Tax %
- 17.84%
- Net Profit
- 445
- 11
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 3,697
- 2,776
- Operating Profit
- —
- OPM %
- —
- Other Income
- 92
- Interest
- 170
- Depreciation
- 222
- 622
- Tax %
- 16.70%
- Net Profit
- 520
- 12
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 3,567
- 2,648
- Operating Profit
- —
- OPM %
- —
- Other Income
- 73
- Interest
- 157
- Depreciation
- 223
- 506
- Tax %
- 18.81%
- Net Profit
- 414
- 10
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 3,443
- 2,513
- Operating Profit
- —
- OPM %
- —
- Other Income
- 114
- Interest
- 142
- Depreciation
- 223
- 656
- Tax %
- 15.20%
- Net Profit
- 559
- 13
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 4,031
- 3,310
- Operating Profit
- —
- OPM %
- —
- Other Income
- 45
- Interest
- 110
- Depreciation
- 226
- 769
- Tax %
- 25.39%
- Net Profit
- 574
- 1
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 41
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,382 | 4,921 | 4,980 | 5,872 | 6,214 | 7,782 | 8,749 | 10,260 | 12,207 | 14,278 | 14,738 | |
| 3,531 | 3,927 | 4,055 | 4,427 | 4,565 | 5,791 | 6,848 | 7,745 | 9,187 | 10,655 | 11,247 | |
| Operating Profit | 940 | 1,066 | 978 | 1,548 | 1,820 | 2,187 | 2,030 | 2,795 | 3,557 | 3,981 | — |
| OPM % | 21 | 22 | 20 | 26 | 29 | 28 | 23 | 27 | 29 | 28 | — |
| Other Income | 89 | 72 | 53 | 104 | 171 | 196 | 129 | 280 | 537 | 359 | 324 |
| Interest | 4 | 25 | 44 | 23 | 21 | 60 | 46 | 34 | 432 | 644 | 579 |
| Depreciation | 31 | 46 | 69 | 99 | 119 | 167 | 326 | 378 | 621 | 886 | 893 |
| 906 | 995 | 875 | 1,438 | 1,692 | 1,975 | 1,671 | 2,398 | 2,516 | 2,333 | 2,553 | |
| Tax % | 32 | 32 | 30 | 27 | 24 | 26 | 22 | 19 | 20 | 17 | 19 |
| Net Profit | 616 | 672 | 610 | 1,056 | 1,293 | 1,453 | 1,310 | 1,941 | 2,007 | 1,938 | 2,059 |
| EPS | 16 | 17 | 14 | 26 | 32 | 36 | 32 | 48 | 48 | 46 | — |
| Dividend Payout % | 0 | 27 | 31 | 12 | 0 | 0 | 0 | 0 | 0 | 2 | — |
| Minority Interest | 0 | -28 | -32 | -26 | -28 | -19 | -28 | -29 | -20 | -25 | 6 |
| Share of Associates | -0 | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| Adjusted EPS | 16 | 16 | 14 | 26 | 32 | 36 | 32 | 48 | 48 | 46 | — |
| Minority Interest | 0 | -28 | -32 | -26 | -28 | -19 | -28 | -29 | -20 | -25 | 6 |
| Share of Associates | -0 | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| Adjusted EPS | 16 | 16 | 14 | 26 | 32 | 36 | 32 | 48 | 48 | 46 | — |
Mar 2017
- 4,382
- 3,531
- Operating Profit
- 940
- OPM %
- 21
- Other Income
- 89
- Interest
- 4
- Depreciation
- 31
- 906
- Tax %
- 32
- Net Profit
- 616
- EPS
- 16
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- -0
- Adjusted EPS
- 16
- Minority Interest
- 0
- Share of Associates
- -0
- Adjusted EPS
- 16
Mar 2018
- 4,921
- 3,927
- Operating Profit
- 1,066
- OPM %
- 22
- Other Income
- 72
- Interest
- 25
- Depreciation
- 46
- 995
- Tax %
- 32
- Net Profit
- 672
- EPS
- 17
- Dividend Payout %
- 27
- Minority Interest
- -28
- Share of Associates
- -3
- Adjusted EPS
- 16
- Minority Interest
- -28
- Share of Associates
- -3
- Adjusted EPS
- 16
Mar 2019
- 4,980
- 4,055
- Operating Profit
- 978
- OPM %
- 20
- Other Income
- 53
- Interest
- 44
- Depreciation
- 69
- 875
- Tax %
- 30
- Net Profit
- 610
- EPS
- 14
- Dividend Payout %
- 31
- Minority Interest
- -32
- Share of Associates
- 0
- Adjusted EPS
- 14
- Minority Interest
- -32
- Share of Associates
- 0
- Adjusted EPS
- 14
Mar 2020
- 5,872
- 4,427
- Operating Profit
- 1,548
- OPM %
- 26
- Other Income
- 104
- Interest
- 23
- Depreciation
- 99
- 1,438
- Tax %
- 27
- Net Profit
- 1,056
- EPS
- 26
- Dividend Payout %
- 12
- Minority Interest
- -26
- Share of Associates
- 0
- Adjusted EPS
- 26
- Minority Interest
- -26
- Share of Associates
- 0
- Adjusted EPS
- 26
Mar 2021
- 6,214
- 4,565
- Operating Profit
- 1,820
- OPM %
- 29
- Other Income
- 171
- Interest
- 21
- Depreciation
- 119
- 1,692
- Tax %
- 24
- Net Profit
- 1,293
- EPS
- 32
- Dividend Payout %
- 0
- Minority Interest
- -28
- Share of Associates
- 0
- Adjusted EPS
- 32
- Minority Interest
- -28
- Share of Associates
- 0
- Adjusted EPS
- 32
Mar 2022
- 7,782
- 5,791
- Operating Profit
- 2,187
- OPM %
- 28
- Other Income
- 196
- Interest
- 60
- Depreciation
- 167
- 1,975
- Tax %
- 26
- Net Profit
- 1,453
- EPS
- 36
- Dividend Payout %
- 0
- Minority Interest
- -19
- Share of Associates
- 0
- Adjusted EPS
- 36
- Minority Interest
- -19
- Share of Associates
- 0
- Adjusted EPS
- 36
Mar 2023
- 8,749
- 6,848
- Operating Profit
- 2,030
- OPM %
- 23
- Other Income
- 129
- Interest
- 46
- Depreciation
- 326
- 1,671
- Tax %
- 22
- Net Profit
- 1,310
- EPS
- 32
- Dividend Payout %
- 0
- Minority Interest
- -28
- Share of Associates
- 0
- Adjusted EPS
- 32
- Minority Interest
- -28
- Share of Associates
- 0
- Adjusted EPS
- 32
Mar 2024
- 10,260
- 7,745
- Operating Profit
- 2,795
- OPM %
- 27
- Other Income
- 280
- Interest
- 34
- Depreciation
- 378
- 2,398
- Tax %
- 19
- Net Profit
- 1,941
- EPS
- 48
- Dividend Payout %
- 0
- Minority Interest
- -29
- Share of Associates
- 0
- Adjusted EPS
- 48
- Minority Interest
- -29
- Share of Associates
- 0
- Adjusted EPS
- 48
Mar 2025
- 12,207
- 9,187
- Operating Profit
- 3,557
- OPM %
- 29
- Other Income
- 537
- Interest
- 432
- Depreciation
- 621
- 2,516
- Tax %
- 20
- Net Profit
- 2,007
- EPS
- 48
- Dividend Payout %
- 0
- Minority Interest
- -20
- Share of Associates
- 0
- Adjusted EPS
- 48
- Minority Interest
- -20
- Share of Associates
- 0
- Adjusted EPS
- 48
Mar 2026
- 14,278
- 10,655
- Operating Profit
- 3,981
- OPM %
- 28
- Other Income
- 359
- Interest
- 644
- Depreciation
- 886
- 2,333
- Tax %
- 17
- Net Profit
- 1,938
- EPS
- 46
- Dividend Payout %
- 2
- Minority Interest
- -25
- Share of Associates
- 0
- Adjusted EPS
- 46
- Minority Interest
- -25
- Share of Associates
- 0
- Adjusted EPS
- 46
TTM
- 14,738
- 11,247
- Operating Profit
- —
- OPM %
- —
- Other Income
- 324
- Interest
- 579
- Depreciation
- 893
- 2,553
- Tax %
- 19
- Net Profit
- 2,059
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 6
- Share of Associates
- 12
- Adjusted EPS
- —
- Minority Interest
- 6
- Share of Associates
- 12
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 18%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 13%
- 5 Years:
- 9%
- 3 Years:
- 14%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 9%
- 1 Year:
- -5%
RETURN ON EQUITY
- 10 Years:
- 23%
- 5 Years:
- 20%
- 3 Years:
- 18%
- Last Year:
- 13%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 20 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 41 | 41 |
| 2,907 | 2,841 | 2,783 | 3,445 | 4,682 | 6,115 | 7,395 | 9,300 | 14,247 | 16,211 | |
| 10 | 404 | 241 | 44 | 177 | 819 | 139 | 151 | 2,513 | 639 | |
| Trade Payables | 492 | 649 | 562 | 745 | 667 | 1,076 | 1,008 | 777 | 1,133 | 1,341 |
| 312 | 426 | 457 | 751 | 758 | 1,058 | 1,103 | 1,614 | 9,716 | 9,522 | |
| Total Liabilities | 3,741 | 4,360 | 4,084 | 5,025 | 6,324 | 9,108 | 9,686 | 11,883 | 27,652 | 27,755 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 793 | 1,014 | 1,399 | 1,594 | 1,659 | 3,583 | 4,245 | 4,540 | 19,004 | 18,620 | |
| Capital Work in Progress | 302 | 482 | 327 | 313 | 372 | 670 | 493 | 207 | 306 | 655 |
| 949 | 789 | 759 | 829 | 1,512 | 1,109 | 1,346 | 2,568 | 2,042 | 1,985 | |
| 789 | 789 | 821 | 899 | 1,184 | 1,760 | 1,498 | 1,553 | 2,094 | 2,144 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 848 | 1,538 | 1,730 | |
| Cash & Bank | 146 | 139 | 141 | 420 | 701 | 406 | 453 | 708 | 554 | 483 |
| 762 | 1,147 | 636 | 970 | 897 | 1,580 | 1,649 | 1,458 | 2,113 | 2,138 | |
| Total Assets | 3,741 | 4,360 | 4,084 | 5,025 | 6,324 | 9,108 | 9,686 | 11,883 | 27,652 | 27,755 |
| Total Debt | 13 | 407 | 270 | 128 | 235 | 868 | 163 | 196 | 8,300 | 6,022 |
| Net Working Capital | 1,406 | 1,277 | 919 | 1,569 | 2,526 | 1,780 | 2,461 | 4,446 | 1,322 | 444 |
| Contingent Liabilities | 31 | 16 | 361 | 242 | 35 | 83 | 48 | 89 | 1,019 | 925 |
| Book Value per Share | 1461.42 | 71.92 | 70.47 | 87.00 | 117.88 | 153.65 | 185.61 | 233.15 | 346.31 | 393.72 |
| Face Value | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Total Debt | 13 | 407 | 270 | 128 | 235 | 868 | 163 | 196 | 8,300 | 6,022 |
| Net Working Capital | 1,406 | 1,277 | 919 | 1,569 | 2,526 | 1,780 | 2,461 | 4,446 | 1,322 | 444 |
| Contingent Liabilities | 31 | 16 | 361 | 242 | 35 | 83 | 48 | 89 | 1,019 | 925 |
| Book Value per Share | 1461.42 | 71.92 | 70.47 | 87.00 | 117.88 | 153.65 | 185.61 | 233.15 | 346.31 | 393.72 |
| Face Value | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Mar 2017
- Equity Capital
- 20
- 2,907
- 10
- Trade Payables
- 492
- 312
- Total Liabilities
- 3,741
- 793
- Capital Work in Progress
- 302
- 949
- 789
- 0
- Cash & Bank
- 146
- 762
- Total Assets
- 3,741
- Total Debt
- 13
- Net Working Capital
- 1,406
- Contingent Liabilities
- 31
- Book Value per Share
- 1461.42
- Face Value
- 10.00
- Total Debt
- 13
- Net Working Capital
- 1,406
- Contingent Liabilities
- 31
- Book Value per Share
- 1461.42
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 40
- 2,841
- 404
- Trade Payables
- 649
- 426
- Total Liabilities
- 4,360
- 1,014
- Capital Work in Progress
- 482
- 789
- 789
- 0
- Cash & Bank
- 139
- 1,147
- Total Assets
- 4,360
- Total Debt
- 407
- Net Working Capital
- 1,277
- Contingent Liabilities
- 16
- Book Value per Share
- 71.92
- Face Value
- 1.00
- Total Debt
- 407
- Net Working Capital
- 1,277
- Contingent Liabilities
- 16
- Book Value per Share
- 71.92
- Face Value
- 1.00
Mar 2019
- Equity Capital
- 40
- 2,783
- 241
- Trade Payables
- 562
- 457
- Total Liabilities
- 4,084
- 1,399
- Capital Work in Progress
- 327
- 759
- 821
- 0
- Cash & Bank
- 141
- 636
- Total Assets
- 4,084
- Total Debt
- 270
- Net Working Capital
- 919
- Contingent Liabilities
- 361
- Book Value per Share
- 70.47
- Face Value
- 1.00
- Total Debt
- 270
- Net Working Capital
- 919
- Contingent Liabilities
- 361
- Book Value per Share
- 70.47
- Face Value
- 1.00
Mar 2020
- Equity Capital
- 40
- 3,445
- 44
- Trade Payables
- 745
- 751
- Total Liabilities
- 5,025
- 1,594
- Capital Work in Progress
- 313
- 829
- 899
- 0
- Cash & Bank
- 420
- 970
- Total Assets
- 5,025
- Total Debt
- 128
- Net Working Capital
- 1,569
- Contingent Liabilities
- 242
- Book Value per Share
- 87.00
- Face Value
- 1.00
- Total Debt
- 128
- Net Working Capital
- 1,569
- Contingent Liabilities
- 242
- Book Value per Share
- 87.00
- Face Value
- 1.00
Mar 2021
- Equity Capital
- 40
- 4,682
- 177
- Trade Payables
- 667
- 758
- Total Liabilities
- 6,324
- 1,659
- Capital Work in Progress
- 372
- 1,512
- 1,184
- 0
- Cash & Bank
- 701
- 897
- Total Assets
- 6,324
- Total Debt
- 235
- Net Working Capital
- 2,526
- Contingent Liabilities
- 35
- Book Value per Share
- 117.88
- Face Value
- 1.00
- Total Debt
- 235
- Net Working Capital
- 2,526
- Contingent Liabilities
- 35
- Book Value per Share
- 117.88
- Face Value
- 1.00
Mar 2022
- Equity Capital
- 40
- 6,115
- 819
- Trade Payables
- 1,076
- 1,058
- Total Liabilities
- 9,108
- 3,583
- Capital Work in Progress
- 670
- 1,109
- 1,760
- 0
- Cash & Bank
- 406
- 1,580
- Total Assets
- 9,108
- Total Debt
- 868
- Net Working Capital
- 1,780
- Contingent Liabilities
- 83
- Book Value per Share
- 153.65
- Face Value
- 1.00
- Total Debt
- 868
- Net Working Capital
- 1,780
- Contingent Liabilities
- 83
- Book Value per Share
- 153.65
- Face Value
- 1.00
Mar 2023
- Equity Capital
- 40
- 7,395
- 139
- Trade Payables
- 1,008
- 1,103
- Total Liabilities
- 9,686
- 4,245
- Capital Work in Progress
- 493
- 1,346
- 1,498
- 0
- Cash & Bank
- 453
- 1,649
- Total Assets
- 9,686
- Total Debt
- 163
- Net Working Capital
- 2,461
- Contingent Liabilities
- 48
- Book Value per Share
- 185.61
- Face Value
- 1.00
- Total Debt
- 163
- Net Working Capital
- 2,461
- Contingent Liabilities
- 48
- Book Value per Share
- 185.61
- Face Value
- 1.00
Mar 2024
- Equity Capital
- 40
- 9,300
- 151
- Trade Payables
- 777
- 1,614
- Total Liabilities
- 11,883
- 4,540
- Capital Work in Progress
- 207
- 2,568
- 1,553
- 848
- Cash & Bank
- 708
- 1,458
- Total Assets
- 11,883
- Total Debt
- 196
- Net Working Capital
- 4,446
- Contingent Liabilities
- 89
- Book Value per Share
- 233.15
- Face Value
- 1.00
- Total Debt
- 196
- Net Working Capital
- 4,446
- Contingent Liabilities
- 89
- Book Value per Share
- 233.15
- Face Value
- 1.00
Mar 2025
- Equity Capital
- 41
- 14,247
- 2,513
- Trade Payables
- 1,133
- 9,716
- Total Liabilities
- 27,652
- 19,004
- Capital Work in Progress
- 306
- 2,042
- 2,094
- 1,538
- Cash & Bank
- 554
- 2,113
- Total Assets
- 27,652
- Total Debt
- 8,300
- Net Working Capital
- 1,322
- Contingent Liabilities
- 1,019
- Book Value per Share
- 346.31
- Face Value
- 1.00
- Total Debt
- 8,300
- Net Working Capital
- 1,322
- Contingent Liabilities
- 1,019
- Book Value per Share
- 346.31
- Face Value
- 1.00
Mar 2026
- Equity Capital
- 41
- 16,211
- 639
- Trade Payables
- 1,341
- 9,522
- Total Liabilities
- 27,755
- 18,620
- Capital Work in Progress
- 655
- 1,985
- 2,144
- 1,730
- Cash & Bank
- 483
- 2,138
- Total Assets
- 27,755
- Total Debt
- 6,022
- Net Working Capital
- 444
- Contingent Liabilities
- 925
- Book Value per Share
- 393.72
- Face Value
- 1.00
- Total Debt
- 6,022
- Net Working Capital
- 444
- Contingent Liabilities
- 925
- Book Value per Share
- 393.72
- Face Value
- 1.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 628 | 639 | 600 | 1,072 | 1,137 | 920 | 1,813 | 2,152 | 2,413 | 3,121 | |
| Cash from Investing | -625 | -505 | -444 | -439 | -1,222 | -1,369 | -1,054 | -2,082 | -12,683 | -196 |
| Cash from Financing | 2 | -89 | -175 | -527 | -8 | 605 | -740 | 5 | 10,233 | -2,953 |
| 5 | 46 | -19 | 106 | -93 | 155 | 19 | 76 | -37 | -28 | |
| Free Cash Flow | 38 | 144 | 304 | 779 | 907 | -1,465 | 1,003 | 1,762 | -12,693 | 2,313 |
| OCF / Net Profit | 1.02 | 0.95 | 0.98 | 1.02 | 0.88 | 0.63 | 1.38 | 1.11 | 1.20 | 1.61 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 2,173 | 669 | 1,529 | 2,986 | -10,486 | -9,080 |
| OCF / Net Profit | 1.02 | 0.95 | 0.98 | 1.02 | 0.88 | 0.63 | 1.38 | 1.11 | 1.20 | 1.61 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 2,173 | 669 | 1,529 | 2,986 | -10,486 | -9,080 |
Mar 2017
- 628
- Cash from Investing
- -625
- Cash from Financing
- 2
- 5
- Free Cash Flow
- 38
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 0
Mar 2018
- 639
- Cash from Investing
- -505
- Cash from Financing
- -89
- 46
- Free Cash Flow
- 144
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 0
Mar 2019
- 600
- Cash from Investing
- -444
- Cash from Financing
- -175
- -19
- Free Cash Flow
- 304
- OCF / Net Profit
- 0.98
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.98
- Cumulative 5-Year FCF
- 0
Mar 2020
- 1,072
- Cash from Investing
- -439
- Cash from Financing
- -527
- 106
- Free Cash Flow
- 779
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 0
Mar 2021
- 1,137
- Cash from Investing
- -1,222
- Cash from Financing
- -8
- -93
- Free Cash Flow
- 907
- OCF / Net Profit
- 0.88
- Cumulative 5-Year FCF
- 2,173
- OCF / Net Profit
- 0.88
- Cumulative 5-Year FCF
- 2,173
Mar 2022
- 920
- Cash from Investing
- -1,369
- Cash from Financing
- 605
- 155
- Free Cash Flow
- -1,465
- OCF / Net Profit
- 0.63
- Cumulative 5-Year FCF
- 669
- OCF / Net Profit
- 0.63
- Cumulative 5-Year FCF
- 669
Mar 2023
- 1,813
- Cash from Investing
- -1,054
- Cash from Financing
- -740
- 19
- Free Cash Flow
- 1,003
- OCF / Net Profit
- 1.38
- Cumulative 5-Year FCF
- 1,529
- OCF / Net Profit
- 1.38
- Cumulative 5-Year FCF
- 1,529
Mar 2024
- 2,152
- Cash from Investing
- -2,082
- Cash from Financing
- 5
- 76
- Free Cash Flow
- 1,762
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- 2,986
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- 2,986
Mar 2025
- 2,413
- Cash from Investing
- -12,683
- Cash from Financing
- 10,233
- -37
- Free Cash Flow
- -12,693
- OCF / Net Profit
- 1.20
- Cumulative 5-Year FCF
- -10,486
- OCF / Net Profit
- 1.20
- Cumulative 5-Year FCF
- -10,486
Mar 2026
- 3,121
- Cash from Investing
- -196
- Cash from Financing
- -2,953
- -28
- Free Cash Flow
- 2,313
- OCF / Net Profit
- 1.61
- Cumulative 5-Year FCF
- -9,080
- OCF / Net Profit
- 1.61
- Cumulative 5-Year FCF
- -9,080
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 314.12 | 16.39 | 14.44 | 25.72 | 31.59 | 35.78 | 32.00 | 47.75 | 48.25 | 46.34 |
| Book Value (₹) | 1461.42 | 71.92 | 70.47 | 87.00 | 117.88 | 153.65 | 185.61 | 233.15 | 346.31 | 393.72 |
| Dividend per Share (₹) | 0.00 | 4.35 | 4.45 | 3.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| Cash EPS (₹) | 16.14 | 17.91 | 16.96 | 28.84 | 35.25 | 40.43 | 40.83 | 57.89 | 63.69 | 68.42 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 21.27% | 21.61% | 19.64% | 25.38% | 28.15% | 27.09% | 22.30% | 23.56% | 23.82% | 24.25% |
| Net Margin % | 13.94% | 13.62% | 12.26% | 17.31% | 20.00% | 18.00% | 14.38% | 18.18% | 15.83% | 12.98% |
| ROE % | 23.76% | 23.13% | 21.41% | 33.48% | 31.51% | 26.72% | 19.27% | 23.14% | 16.98% | 12.69% |
| ROCE % | 34.98% | 32.75% | 28.80% | 43.57% | 39.97% | 33.96% | 23.49% | 28.35% | 18.32% | 13.24% |
| 18.69% | 16.58% | 14.46% | 23.19% | 22.79% | 18.83% | 13.94% | 18.00% | 10.15% | 7.00% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 15 | 17 | 19 | 22 | 24 | 16 | 19 | 24 | 34 | 40 |
| Inventory Days | 58 | 58 | 59 | 51 | 59 | 67 | 65 | 52 | 52 | 52 |
| Payable Days | 105 | 125 | 128 | 127 | 145 | 131 | 131 | 102 | 100 | 111 |
| -32 | -49 | -50 | -53 | -62 | -49 | -46 | -25 | -13 | -20 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.14x | 0.10x | 0.04x | 0.05x | 0.14x | 0.02x | 0.02x | 0.58x | 0.37x |
| Interest Coverage (x) | 249.67x | 40.44x | 20.77x | 62.87x | 80.96x | 34.02x | 37.52x | 71.03x | 6.83x | 4.62x |
| 3.12x | 1.99x | 1.90x | 2.25x | 2.87x | 1.68x | 2.32x | 3.10x | 1.23x | 1.07x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 11.12% | 12.29% | 1.20% | 17.91% | 5.83% | 25.22% | 12.44% | 17.27% | 18.98% | 16.96% |
| Operating Profit Growth % | 13.25% | 13.37% | -8.24% | 58.34% | 17.54% | 20.14% | -7.14% | 37.67% | 27.25% | 11.92% |
| Net Profit Growth % | 14.01% | 9.08% | -9.13% | 73.00% | 22.43% | 12.37% | -9.86% | 48.19% | 3.39% | -3.41% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 49.22% | 1.05% | -3.97% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 48.11x | 50.22x | 43.29x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 9.85x | 7.00x | 5.09x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 32.74x | 30.28x | 22.19x |
Mar 2017
- EPS (₹)
- 314.12
- Book Value (₹)
- 1461.42
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 16.14
- Operating Margin %
- 21.27%
- Net Margin %
- 13.94%
- ROE %
- 23.76%
- ROCE %
- 34.98%
- 18.69%
- Debtor Days
- 15
- Inventory Days
- 58
- Payable Days
- 105
- -32
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 249.67x
- 3.12x
- Revenue Growth %
- 11.12%
- Operating Profit Growth %
- 13.25%
- Net Profit Growth %
- 14.01%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 16.39
- Book Value (₹)
- 71.92
- Dividend per Share (₹)
- 4.35
- Cash EPS (₹)
- 17.91
- Operating Margin %
- 21.61%
- Net Margin %
- 13.62%
- ROE %
- 23.13%
- ROCE %
- 32.75%
- 16.58%
- Debtor Days
- 17
- Inventory Days
- 58
- Payable Days
- 125
- -49
- Debt to Equity (x)
- 0.14x
- Interest Coverage (x)
- 40.44x
- 1.99x
- Revenue Growth %
- 12.29%
- Operating Profit Growth %
- 13.37%
- Net Profit Growth %
- 9.08%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 14.44
- Book Value (₹)
- 70.47
- Dividend per Share (₹)
- 4.45
- Cash EPS (₹)
- 16.96
- Operating Margin %
- 19.64%
- Net Margin %
- 12.26%
- ROE %
- 21.41%
- ROCE %
- 28.80%
- 14.46%
- Debtor Days
- 19
- Inventory Days
- 59
- Payable Days
- 128
- -50
- Debt to Equity (x)
- 0.10x
- Interest Coverage (x)
- 20.77x
- 1.90x
- Revenue Growth %
- 1.20%
- Operating Profit Growth %
- -8.24%
- Net Profit Growth %
- -9.13%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 25.72
- Book Value (₹)
- 87.00
- Dividend per Share (₹)
- 3.10
- Cash EPS (₹)
- 28.84
- Operating Margin %
- 25.38%
- Net Margin %
- 17.31%
- ROE %
- 33.48%
- ROCE %
- 43.57%
- 23.19%
- Debtor Days
- 22
- Inventory Days
- 51
- Payable Days
- 127
- -53
- Debt to Equity (x)
- 0.04x
- Interest Coverage (x)
- 62.87x
- 2.25x
- Revenue Growth %
- 17.91%
- Operating Profit Growth %
- 58.34%
- Net Profit Growth %
- 73.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 31.59
- Book Value (₹)
- 117.88
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 35.25
- Operating Margin %
- 28.15%
- Net Margin %
- 20.00%
- ROE %
- 31.51%
- ROCE %
- 39.97%
- 22.79%
- Debtor Days
- 24
- Inventory Days
- 59
- Payable Days
- 145
- -62
- Debt to Equity (x)
- 0.05x
- Interest Coverage (x)
- 80.96x
- 2.87x
- Revenue Growth %
- 5.83%
- Operating Profit Growth %
- 17.54%
- Net Profit Growth %
- 22.43%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 35.78
- Book Value (₹)
- 153.65
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 40.43
- Operating Margin %
- 27.09%
- Net Margin %
- 18.00%
- ROE %
- 26.72%
- ROCE %
- 33.96%
- 18.83%
- Debtor Days
- 16
- Inventory Days
- 67
- Payable Days
- 131
- -49
- Debt to Equity (x)
- 0.14x
- Interest Coverage (x)
- 34.02x
- 1.68x
- Revenue Growth %
- 25.22%
- Operating Profit Growth %
- 20.14%
- Net Profit Growth %
- 12.37%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 32.00
- Book Value (₹)
- 185.61
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 40.83
- Operating Margin %
- 22.30%
- Net Margin %
- 14.38%
- ROE %
- 19.27%
- ROCE %
- 23.49%
- 13.94%
- Debtor Days
- 19
- Inventory Days
- 65
- Payable Days
- 131
- -46
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 37.52x
- 2.32x
- Revenue Growth %
- 12.44%
- Operating Profit Growth %
- -7.14%
- Net Profit Growth %
- -9.86%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 47.75
- Book Value (₹)
- 233.15
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 57.89
- Operating Margin %
- 23.56%
- Net Margin %
- 18.18%
- ROE %
- 23.14%
- ROCE %
- 28.35%
- 18.00%
- Debtor Days
- 24
- Inventory Days
- 52
- Payable Days
- 102
- -25
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 71.03x
- 3.10x
- Revenue Growth %
- 17.27%
- Operating Profit Growth %
- 37.67%
- Net Profit Growth %
- 48.19%
- 49.22%
- P/E (x)
- 48.11x
- P/B (x)
- 9.85x
- Dividend Yield %
- 0.00%
- 32.74x
Mar 2025
- EPS (₹)
- 48.25
- Book Value (₹)
- 346.31
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 63.69
- Operating Margin %
- 23.82%
- Net Margin %
- 15.83%
- ROE %
- 16.98%
- ROCE %
- 18.32%
- 10.15%
- Debtor Days
- 34
- Inventory Days
- 52
- Payable Days
- 100
- -13
- Debt to Equity (x)
- 0.58x
- Interest Coverage (x)
- 6.83x
- 1.23x
- Revenue Growth %
- 18.98%
- Operating Profit Growth %
- 27.25%
- Net Profit Growth %
- 3.39%
- 1.05%
- P/E (x)
- 50.22x
- P/B (x)
- 7.00x
- Dividend Yield %
- 0.00%
- 30.28x
Mar 2026
- EPS (₹)
- 46.34
- Book Value (₹)
- 393.72
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 68.42
- Operating Margin %
- 24.25%
- Net Margin %
- 12.98%
- ROE %
- 12.69%
- ROCE %
- 13.24%
- 7.00%
- Debtor Days
- 40
- Inventory Days
- 52
- Payable Days
- 111
- -20
- Debt to Equity (x)
- 0.37x
- Interest Coverage (x)
- 4.62x
- 1.07x
- Revenue Growth %
- 16.96%
- Operating Profit Growth %
- 11.92%
- Net Profit Growth %
- -3.41%
- -3.97%
- P/E (x)
- 43.29x
- P/B (x)
- 5.09x
- Dividend Yield %
- 0.05%
- 22.19x
Documents
Announcements
- Press Release
2026-08-20 - Mankind Pharma Limited has informed the Exchange regarding a press release dated August 20, 2026, titled "Mankind Pharma Enters into Exclusive In-Licensing Agreement for Insulin Degludec and Insulin Degludec + Aspart Combination for India".
- Copy of Newspaper Publication
2026-08-19 - Mankind Pharma Limited has informed the Exchange about Copy of Newspaper Publication
Annual Reports
Credit Ratings
- Credit Rating
2026-05-12 - Mankind Pharma Limited has informed the Exchange about Credit Rating
- Credit Rating- New
2026-04-22 - Mankind Pharma Limited has informed the Exchange about Credit Rating- New
- Credit Rating- Revision
2026-02-24 - Mankind Pharma Limited has informed the Exchange about Credit Rating- Revision
Concalls
Aug 2026
May 2026
Feb 2026