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Mankind Pharma Q3 FY26: Revenue up 11.5% to ₹3,567 Cr; Chronic share rises to 39.3%
Mankind Pharma reported a steady 11.5% YoY revenue growth in Q3 FY26, reaching ₹3,567 crore, primarily driven by domestic pharma and the consolidation of BSV. The company's chronic segment showed strong momentum, with its share increasing by 200bps to 39.3%, led by high growth in Cardiac (16.7%) and Anti-Diabetes (14.4%) therapies. While reported EBITDA margins were 22.9%, adjusted margins stood at 25.9% after accounting for one-time labor code impacts. The Consumer Healthcare segment regained momentum with 5.2% growth, and the export business grew by 14.1% YoY.
Key Highlights
Revenue from operations grew 11.5% YoY to ₹3,567 crore, with domestic business contributing ₹3,046 crore.
Chronic segment share increased to 39.3% from 37.3% YoY, significantly outperforming the Indian Pharma Market (IPM) in key therapies.
Adjusted EBITDA margin stood at 25.9%, while PAT grew 9.5% YoY to ₹414 crore.
Export business witnessed 14.1% YoY growth, reaching ₹521 crore, aided by BSV international business.
Net debt reduced to ₹4,294 crore as of Dec 31, 2025, from ₹6,739 crore in Dec 2024, showing strong cash flow utilization.
💼 Action for Investors
Investors should focus on the company's successful transition toward a higher-margin chronic portfolio and the smooth integration of the BSV acquisition. The stock remains a strong play on the domestic pharmaceutical market with improving capital efficiency.
Mankind Pharma Q3 Revenue Up 11.5% to ₹3,567 Cr; Adj. EBITDA Margin at 25.9%
Mankind Pharma reported a steady 11.5% YoY revenue growth in Q3 FY26, reaching ₹3,567 crore, primarily driven by domestic pharma and the consolidation of BSV. The company's chronic segment share improved by 200bps to 39.3%, with strong performance in cardiac (16.7%) and anti-diabetes (14.4%) therapies. While reported EBITDA margins saw compression to 22.9% due to one-time costs, the adjusted EBITDA margin remained healthy at 25.9%. Consumer healthcare showed signs of recovery with 5.2% growth compared to a decline in the previous quarter.
Key Highlights
Revenue from operations grew 11.5% YoY to ₹3,567 Cr, with domestic revenue up 11.1% to ₹3,046 Cr.
Chronic therapy share increased to 39.3% of total revenue, led by 16.7% growth in Cardiac and 14.4% in Anti-Diabetics.
Adjusted EBITDA margin stood at 25.9% after adjusting for one-time labor code impacts and non-recurring costs.
Consumer Healthcare (OTC) returned to growth at 5.2% YoY, a significant recovery from the -2.6% growth in Q2 FY26.
Export revenue increased 14.1% YoY to ₹521 Cr, supported by the BSV international business.
💼 Action for Investors
Investors should focus on the company's successful shift towards high-margin chronic therapies and the recovery in the OTC segment. The integration of BSV appears to be progressing well, providing a strong foundation for long-term sustainable growth.
Mankind Pharma Q3 FY26 Standalone PAT at ₹449.47 Cr; Revenue at ₹2,632.68 Cr
Mankind Pharma reported a standalone revenue of ₹2,632.68 crore for the quarter ended December 31, 2025, remaining largely flat compared to ₹2,636.95 crore in the previous quarter. Net profit for the period stood at ₹449.47 crore, a slight sequential decline from ₹462.27 crore, partly due to an exceptional item of ₹83.42 crore. The financials have been restated to incorporate the acquisition of Bharat Serums and Vaccines Limited (BSV). The company also noted ongoing income tax litigation which is currently under appeal.
Key Highlights
Standalone Revenue from operations recorded at ₹2,632.68 crore for Q3 FY26
Profit After Tax (PAT) reached ₹449.47 crore, down 2.7% sequentially
An exceptional item of ₹83.42 crore impacted the quarterly bottom line
Financial results restated to reflect the business combination with Bharat Serums and Vaccines Limited (BSV)
Basic EPS for the quarter stood at ₹10.89 compared to ₹11.20 in the preceding quarter
💼 Action for Investors
Investors should focus on the consolidated performance to gauge the full impact of the BSV acquisition and monitor the resolution of pending tax proceedings. The slight sequential dip in standalone margins warrants a cautious watch on operational costs.
Bank of India Q3 FY26 Net Profit Rises 7% YoY to ₹2,705 Cr; NIM Improves to 2.57%
Bank of India reported a steady performance for Q3 FY26, with net profit growing 7% YoY to ₹2,705 crore and operating profit rising 13% to ₹4,193 crore. Asset quality showed significant improvement as Gross NPA fell by 143 bps YoY to 2.26%, while Net NPA reached a low of 0.60%. The bank successfully improved its Global NIM by 16 bps sequentially to 2.57% through portfolio churning and shedding low-yield assets. With a strong corporate pipeline of ₹65,000 crore and robust RAM growth of 18.05%, the management maintains a positive outlook for FY27.
Key Highlights
Net Profit increased by 7% YoY to ₹2,705 crore, while Net Interest Income grew 6% to ₹6,461 crore.
Asset quality improved drastically with Gross NPA at 2.26% and Net NPA at 0.60%, supported by a high PCR of 93.60%.
Domestic advances grew 15.16% YoY, led by an 18.05% surge in RAM (Retail, Agri, MSME) segments.
Global NIM expanded by 16 bps sequentially to 2.57% due to strategic churning of low-yielding assets.
Capital Adequacy Ratio (CRAR) remains strong at 17.09% as of December 2025 compared to 16.00% YoY.
💼 Action for Investors
Investors should focus on the bank's improving margins and robust asset quality metrics. The strong corporate credit pipeline and focus on high-yield RAM segments provide a positive outlook for earnings growth in FY27.
Bank of India Q3 Net Profit Up 7.5% YoY to ₹2,705 Cr; Gross NPA Drops to 2.26%
Bank of India reported a standalone net profit of ₹2,704.67 crore for the quarter ended December 2025, a 7.5% increase from ₹2,516.69 crore in the previous year. The bank's asset quality improved remarkably, with Gross NPA declining to 2.26% from 3.69% YoY and Net NPA falling to 0.60%. Total income for the quarter stood at ₹21,205.95 crore, supported by a 13.2% growth in operating profit. The Capital Adequacy Ratio remains robust at 17.09%, up from 16.00% in the year-ago period.
Key Highlights
Standalone Net Profit rose 7.5% YoY to ₹2,704.67 crore from ₹2,516.69 crore
Gross NPA ratio saw a sharp decline to 2.26% from 3.69% YoY and 2.54% QoQ
Net NPA ratio improved to 0.60% from 0.85% in the same quarter last year
Operating Profit increased by 13.2% YoY to ₹4,192.79 crore
Capital Adequacy Ratio (Basel III) improved to 17.09% from 16.00% YoY
💼 Action for Investors
The significant improvement in asset quality and healthy capital position make the stock attractive for long-term investors. Monitor the credit growth trajectory in the wholesale and retail segments to ensure sustained profitability.
Bank of India Q3 FY26: Net Profit Rises 7.5% YoY to ₹2,705 Cr; Asset Quality Improves to 2.26% GNPA
Bank of India reported a steady performance for Q3 FY26, with net profit increasing 7.47% YoY to ₹2,705 crore. The bank's global business grew 12.54% YoY to ₹16.27 lakh crore, driven by a healthy 13.63% growth in advances, particularly in the RAM (Retail, Agri, MSME) segment which grew 18.05%. Asset quality showed significant improvement as Gross NPA fell to 2.26% from 3.69% a year ago, supported by a high Provision Coverage Ratio of 93.60%. While Net Interest Margin (NIM) at 2.57% is lower than last year's 2.80%, it showed a sequential recovery from 2.41% in the previous quarter.
Key Highlights
Net Profit grew 7.47% YoY to ₹2,705 Cr, while Operating Profit rose 13.24% to ₹4,193 Cr.
Gross NPA ratio improved significantly to 2.26% from 3.69% YoY; Net NPA stands at 0.60%.
Global Advances increased 13.63% YoY to ₹7,40,314 Cr, led by 20.64% growth in Retail loans.
Net Interest Margin (NIM) recovered sequentially to 2.57% from 2.41% in Q2 FY26.
RAM (Retail, Agri, MSME) advances now constitute 58.54% of gross domestic advances.
💼 Action for Investors
Investors should view the sharp reduction in NPAs and the sequential recovery in margins as positive indicators of operational efficiency. The bank's focus on high-growth retail segments provides a stable outlook for future credit growth.
Bank of India Q3FY26 Net Profit Rises 7.5% YoY to ₹2,705 Cr; Asset Quality Improves Sharply
Bank of India reported a steady Q3FY26 with net profit growing 7.47% YoY to ₹2,705 crores, supported by a 13.24% increase in operating profit. Asset quality showed significant improvement as Gross NPA fell to 2.26% from 3.69% YoY, and Net NPA reached 0.60%. While the domestic Net Interest Margin (NIM) at 2.80% is lower than last year's 2.98%, it showed a healthy sequential recovery from 2.66% in Q2FY26. The bank's global business crossed the ₹16 lakh crore milestone, driven by robust 15.16% growth in domestic advances.
Key Highlights
Net Profit for Q3FY26 increased 7.47% YoY to ₹2,705 crores; 9M-FY26 profit rose 14% to ₹7,511 crores.
Gross NPA ratio improved significantly by 143 bps YoY to 2.26%, while Net NPA improved to 0.60%.
Global Advances grew 13.63% YoY to ₹7.40 lakh crores, with Retail advances leading at 20.64% growth.
Domestic NIM recovered to 2.80% from 2.66% in the previous quarter, though down from 2.98% YoY.
Capital Adequacy Ratio (CAR) remains strong at 17.09% with a high Provision Coverage Ratio of 93.60%.
💼 Action for Investors
Investors should take confidence in the bank's superior asset quality and the sequential recovery in margins. The strong capital position and double-digit growth in RAM advances make it a stable pick in the PSU banking sector.
Bank of India Q3FY26 Net Profit Up 7.5% YoY to ₹2,705 Cr; Gross NPA Drops to 2.26%
Bank of India reported a standalone net profit of ₹2,704.67 crore for the quarter ended December 31, 2025, marking a 7.5% growth compared to ₹2,516.69 crore in the same period last year. The bank's asset quality showed substantial improvement, with Gross NPA dropping to 2.26% from 3.69% YoY and Net NPA declining to 0.60% from 0.85% YoY. Total income for the quarter stood at ₹21,205.95 crore, driven by steady growth in interest earned. Capital adequacy remains robust at 17.09%, up from 16.00% a year ago, providing a strong cushion for future growth.
Key Highlights
Standalone Net Profit grew 7.5% YoY to ₹2,704.67 crore in Q3FY26.
Gross NPA ratio improved significantly to 2.26% vs 3.69% YoY and 2.54% QoQ.
Net NPA ratio declined to 0.60% compared to 0.85% in the previous year.
Capital Adequacy Ratio (Basel III) strengthened to 17.09% from 16.00% YoY.
Operating Profit increased to ₹4,192.79 crore, up from ₹3,702.57 crore in Q3FY25.
💼 Action for Investors
The sharp improvement in asset quality and strengthened capital position are strong positive signals for long-term stability. Investors should consider this a sign of a healthy recovery and may look for continued momentum in credit growth.
JNK India Seeks Approval for Related Party Transactions Worth Over ‑192 Crore
JNK India Limited has issued a postal ballot notice to seek shareholder approval for two significant Related Party Transactions (RPTs) for FY 2025-26. The first proposal involves transactions up to ‑70 crore with its subsidiary, JNK Chemdist Technologies Private Limited (JCTPL), covering loans, investments, and services. The second proposal seeks approval for transactions up to ‑122.30 crore between JCTPL and Chemdist Process Solutions Private Limited for the purchase of goods and assets. Both sets of transactions are reported to be at arm's length and within the ordinary course of business.
Key Highlights
Proposed ‑70 crore transaction limit with subsidiary JNK Chemdist Technologies for FY 2025-26
Proposed ‑122.30 crore transaction limit between subsidiary JCTPL and Chemdist Process Solutions
Transactions include inter-corporate loans, investments, and procurement of goods/assets
Remote e-voting period is set from January 9, 2026, to February 7, 2026
Final voting results to be declared on or before February 10, 2026
💼 Action for Investors
Investors should monitor the voting results to ensure corporate governance standards are maintained and review the impact of these intra-group transactions on the company's consolidated cash flows.
Bank of India Q3 FY26 Update: Global Business Grows 12.5% YoY to ₹16.27 Lakh Crore
Bank of India reported a robust provisional performance for Q3 FY26, with its global business reaching ₹16.27 lakh crore, a 12.50% YoY increase. Global gross advances grew by 13.55% YoY to ₹7.39 lakh crore, while global deposits rose 11.64% to ₹8.87 lakh crore. A key highlight is the domestic RAM (Retail, Agri, MSME) segment, which surged 17.69% YoY to ₹3.67 lakh crore. Domestic credit growth at 15.07% continues to outpace domestic deposit growth of 12.80%, indicating strong credit demand.
Key Highlights
Global Business reached ₹16,27,098 crore, registering a 12.50% YoY growth.
Domestic Gross Advances grew by 15.07% YoY to ₹6,28,617 crore.
Domestic RAM (Retail, Agri, MSME) advances showed strong momentum with 17.69% YoY growth.
Global Deposits increased to ₹8,87,287 crore, up 11.64% from ₹7,94,788 crore in the previous year.
Domestic Deposits grew by 12.80% YoY, reaching ₹7,65,500 crore.
💼 Action for Investors
The strong double-digit growth in advances, particularly in the high-margin RAM segment, is a positive indicator for future earnings. Investors should hold the stock and monitor the full quarterly results for impact on Net Interest Margins (NIMs) and asset quality.
Bank of India Allots Rs 10,000 Crore Long Term Infrastructure Bonds at 7.23% Coupon
Bank of India has successfully completed the allotment of Series IV Long Term Infrastructure Bonds totaling Rs 10,000 crore. The issue, conducted on a private placement basis, included a base size of Rs 5,000 crore and a fully exercised green shoe option of Rs 5,000 crore. These unsecured, non-convertible bonds carry a coupon rate of 7.23% per annum and were allotted to 11 institutional investors. This capital raise is intended to strengthen the bank's long-term resources for financing infrastructure projects.
Key Highlights
Total allotment of Rs 10,000 crore through 10,00,000 bonds with a face value of Rs 1 lakh each.
Coupon rate fixed at 7.23% per annum, reflecting competitive borrowing costs for the PSU bank.
Successfully exercised the full green shoe option of Rs 5,000 crore over the base issue.
The allotment was finalized on December 26, 2025, involving 11 allottees.
💼 Action for Investors
The successful fundraise at a competitive rate enhances the bank's capacity for long-term credit growth in the infrastructure sector. Investors should remain positive as this provides stable long-term funding without equity dilution.
Bank of India Raises Rs 10,000 Crore via Infrastructure Bonds at 7.23% Coupon
Bank of India has successfully raised Rs 10,000 crore through the issuance of Long Term Infrastructure Bonds (Series IV) on a private placement basis. The issue saw strong investor interest, being oversubscribed by 3.06 times against the base size of Rs 5,000 crore, with total bids reaching Rs 15,305 crore. The bank accepted the full Rs 10,000 crore (including the green shoe option) at a competitive coupon rate of 7.23% per annum. This capital raise will support the bank's long-term lending capabilities in the infrastructure sector.
Key Highlights
Raised Rs 10,000 crore through Long Term Infrastructure Bonds Series IV
Issue oversubscribed 3.06x against base size with bids totaling Rs 15,305 crore
Final coupon rate fixed at 7.23% per annum on a private placement basis
Accepted 37 bids out of 83 received on the NSE Electronic Bidding Platform
Deemed date of allotment is scheduled for December 26, 2025
💼 Action for Investors
The strong oversubscription and competitive pricing reflect high institutional confidence in the bank's creditworthiness. Investors should monitor how this low-cost long-term capital improves the bank's margins and infrastructure lending book.
CRISIL Assigns 'AA+/Stable' to Bank of India's ₹10,000 Cr Infra Bonds; Reaffirms Existing Ratings
CRISIL Ratings has assigned a 'CRISIL AA+/Stable' rating to Bank of India's new ₹10,000 crore infrastructure bonds and reaffirmed ratings for its existing Tier I and Tier II bonds. The bank's asset quality has shown marked improvement, with Gross NPA declining to 2.5% as of September 2025 from 3.3% in March 2025. Financial stability is supported by a healthy Capital Adequacy Ratio of 17.2% and a majority government stake of 73.38%. Profitability has also stabilized with a Return on Assets (RoA) of 0.9% for the first half of fiscal 2026.
Key Highlights
Assigned 'CRISIL AA+/Stable' rating to new ₹10,000 crore Infrastructure Bonds.
Gross NPA improved significantly to 2.5% in Sept 2025 from 4.98% in March 2024.
Capital Adequacy Ratio (CRAR) remains robust at 17.2% as of September 30, 2025.
Domestic CASA deposits stood at 39.4%, supporting a comfortable resource profile.
Net profit for H1 FY2026 reached ₹4,807 crore with an annualized RoA of 0.9%.
💼 Action for Investors
Investors can take confidence in the bank's improving asset quality and strong government backing. The high credit rating for the new infrastructure bonds indicates a stable financial outlook and efficient capital management.
Bank of India Gets 'CARE AA+; Stable' Rating for New ₹10,000 Cr Infrastructure Bonds
CARE Ratings has reaffirmed Bank of India's 'AA+; Stable' rating for its Tier-II and existing Infrastructure bonds, while assigning the same rating to a new ₹10,000 crore Infrastructure bond issuance. The rating reflects the bank's strong pan-India presence, comfortable capitalization with a CAR of 16.69%, and continued support from the Government of India which holds a 73.38% stake. While asset quality is improving with GNPA at 2.54% in H1FY26, it remains slightly weaker than top-tier peers. Profitability is expected to face some pressure in FY26 due to potential Net Interest Margin (NIM) compression from interest rate cycles.
Key Highlights
Assigned 'CARE AA+; Stable' rating to new Infrastructure bonds worth ₹10,000 crore
Gross NPA ratio improved significantly to 2.54% in H1FY26 from 4.41% in H1FY25
Capital Adequacy Ratio (CAR) stood at 16.69% with a CET-I ratio of 13.89% as of September 2025
Return on Total Assets (ROTA) improved to 0.91% in H1FY26 compared to 0.86% YoY
Liquidity remains adequate with a Liquidity Coverage Ratio (LCR) of 119.76% as of Q2FY26
💼 Action for Investors
The rating reaffirmation and stable outlook confirm the bank's improving financial health and strong government backing, making it a stable bet among PSU banks despite expected NIM pressures.
JNK India CFO Pravin Sathe Resigns Effective December 16, 2025
JNK India Limited has announced the resignation of Mr. Pravin Sathe from the position of Chief Financial Officer (CFO), effective from the close of business hours on December 16, 2025. Mr. Sathe is stepping down to pursue other professional opportunities outside the organization. Consequently, he will also cease to be a Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) of the company. The company has not yet named a successor for the CFO role in this specific filing.
Key Highlights
Mr. Pravin Sathe resigned as Chief Financial Officer effective December 16, 2025.
The resignation is attributed to the pursuit of other professional opportunities.
He ceases to be a Key Managerial Personnel (KMP) under Section 203 of the Companies Act, 2013.
The company must appoint a new CFO to ensure continuity in financial reporting and compliance.
💼 Action for Investors
Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure a smooth leadership transition. While management changes are common, the quality and experience of the successor will be key to maintaining financial stability.
Mankind Pharma Assigned ESG Rating of 71 by NSE Sustainability
Mankind Pharma Limited has been assigned an Environmental, Social, and Governance (ESG) rating of 71 for FY25 by NSE Sustainability Ratings and Analytics Limited. This rating was assigned independently based on publicly available information, as the company did not specifically engage the provider for this service. The disclosure is in compliance with SEBI's Master Circular for ESG Rating Providers. A score of 71 suggests a robust framework in sustainability and governance, which is a key metric for institutional and foreign investors.
Key Highlights
NSE Sustainability assigned an ESG rating of 71 to Mankind Pharma for the 2025 financial year.
The rating was assigned independently using publicly available information without company engagement.
The disclosure follows the SEBI Master Circular dated November 11, 2024, regarding ESG Rating Providers.
💼 Action for Investors
Monitor how this rating compares to industry peers to gauge the company's relative sustainability standing. This positive score may enhance the stock's attractiveness to ESG-mandated institutional funds.
Bank of India Raises Rs 2,500 Crore via Basel III Tier II Bonds at 7.28% Coupon
Bank of India has successfully raised Rs 2,500 crore through the issuance of Basel III compliant Tier II bonds to strengthen its capital base. The issue received an overwhelming response with total bids of Rs 4,982 crore, representing an oversubscription of 4.98 times the base issue size. The bank exercised its green shoe option of Rs 1,500 crore in addition to the base size of Rs 1,000 crore. The bonds were allotted at a competitive coupon rate of 7.28%, reflecting strong institutional demand.
Key Highlights
Total capital raised amounts to Rs 2,500 crore including a Rs 1,500 crore green shoe option
Issue oversubscribed by 4.98 times with total bids reaching Rs 4,982 crore
Bonds carry a coupon rate of 7.28% and are Basel III compliant Tier II instruments
A total of 68 bids were received on the NSE platform, of which 29 were accepted
The deemed date of allotment for these unsecured, non-convertible bonds is December 12, 2025
💼 Action for Investors
The high oversubscription and competitive pricing indicate strong market confidence in the bank's creditworthiness. Investors should view this as a positive step for the bank's capital adequacy and long-term lending capacity.