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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹15471 Cr.
Stock P/E
44.6
P/B
2.7
Current Price
₹486.3
Book Value
₹ 183.1
Face Value
2
52W High
₹552.4
52W Low
₹ 357.6
Dividend Yield
0.25%

Zydus Wellness Overview

Business

Zydus Wellness Ltd. is an Indian consumer goods company primarily focused on the health and wellness segment. It develops, manufactures, markets, and distributes a portfolio of consumer products, largely in the food and over-the-counter (OTC) personal care categories. Its core business model involves building strong brands, innovating products catering to health-conscious consumers, and distributing them through a wide retail network across India, including general trade, modern trade, and e-commerce platforms. The company makes money by selling its range of branded consumer wellness products.

Revenue Mix

Zydus Wellness's revenue is primarily driven by its flagship brands, which span across various health and wellness sub-segments. While specific revenue contributions are not publicly detailed in this overview, key brands include:

Sugar Free: A leading brand in artificial sweeteners and sugar substitutes.

Complan: A well-known health drink powder.

Glucon-D: An energy drink/glucose powder.

Nycil: A prickly heat and germ protection powder (OTC personal care).

Everyuth: A range of skincare products including face washes, scrubs, and peels (personal care).

The acquisition of Kraft Heinz's Indian consumer brands significantly diversified its portfolio beyond just food.

Industry

Zydus Wellness operates within the highly competitive Indian Fast-Moving Consumer Goods (FMCG) sector, specifically targeting the health and wellness segment. This industry is characterized by strong domestic and international players, rapid innovation, and evolving consumer preferences. Zydus Wellness holds a dominant position in the sugar substitute category with its "Sugar Free" brand. For other key brands like Complan and Glucon-D, it competes with major FMCG companies such as Nestle, Hindustan Unilever, Abbott, and Dabur. Its positioning leverages the trust associated with health-oriented products and established brand equity.

MOAT

Brand Equity & Recall: Many of Zydus Wellness's brands, particularly "Sugar Free," "Complan," and "Glucon-D," are legacy brands with high consumer recall and strong brand loyalty, often holding leadership positions in their respective niche categories.

Distribution Network: The company benefits from an established pan-India distribution network, which is crucial for FMCG penetration, potentially leveraging synergies from its parent Zydus Lifesciences.

Parentage & R&D: Being part of the Zydus Lifesciences group provides access to research & development capabilities and a reputation for quality and health science, which is beneficial for wellness products.

Category Leadership: Zydus Wellness enjoys a strong market share in the artificial sweetener category, creating an entry barrier for new competitors.

Growth Drivers

Increasing Health Consciousness: Growing awareness about health, fitness, and diet among Indian consumers is driving demand for healthier food and wellness products.

Rising Disposable Incomes: Higher disposable incomes allow consumers to spend more on premium health-oriented products.

E-commerce Penetration: Expansion through online retail channels provides broader market reach, especially to younger, digitally-savvy consumers.

Product Innovation & Portfolio Expansion: Continuous introduction of new products and variants that cater to evolving consumer needs (e.g., functional foods, natural ingredients) and potential inorganic growth through strategic acquisitions.

Urbanization & Lifestyle Changes: Modern lifestyles often lead to increased demand for convenience foods and wellness solutions.

Risks

Intense Competition: The FMCG sector is highly competitive with numerous national and international players, leading to pricing pressures and challenges in market share growth.

Raw Material Volatility: Fluctuations in prices of key raw materials can impact profit margins.

Changing Consumer Preferences: Rapid shifts in consumer tastes and preferences necessitate continuous product innovation and marketing investment, failure of which can lead to product obsolescence.

Regulatory Changes: Stricter regulations regarding food safety, labeling, and health claims for wellness products could impact business operations and product formulations.

Economic Slowdown: A general economic downturn could reduce discretionary spending on premium wellness products.

Management & Ownership

Zydus Wellness Ltd. is promoted by the Zydus Group (Zydus Lifesciences Ltd.), a prominent Indian pharmaceutical company. The management team comprises experienced professionals, often drawing expertise and best practices from its strong parent group. The Zydus Group holds a significant controlling stake in the company, ensuring aligned strategic direction and stability.

Outlook

Zydus Wellness is well-positioned in the growing Indian health and wellness market, supported by strong, established brands and the backing of the Zydus Lifesciences group. The increasing focus on health among Indian consumers, coupled with rising disposable incomes, provides a favorable long-term demand environment. However, the company faces significant challenges from intense competition, particularly from large FMCG conglomerates with diverse portfolios and deep pockets. Sustained growth will depend on its ability to continually innovate, effectively integrate and leverage its acquired brands, and navigate the dynamic consumer landscape while managing raw material costs and competitive pressures.

Zydus Wellness Share Price

Live · BSE / NSE · Inception: 1994
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Zydus Wellness Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 403 783 841 493 462 913 861 651 965 1485
Other Income 3 4 5 4 4 1 3 3 1 1
Total Income 407 787 846 497 466 914 864 654 966 1486
Total Expenditure 391 620 686 473 447 723 706 629 904 1215
Operating Profit 16 166 160 24 19 191 159 24 62 271
Interest 6 6 4 1 3 4 3 16 41 39
Depreciation 6 6 5 5 5 13 11 25 56 55
Exceptional Income / Expenses 0 0 0 6 0 0 0 -34 -7 0
Profit Before Tax 4 154 152 24 10 173 145 -51 -42 177
Provision for Tax 3 4 4 3 4 2 17 2 -2 15
Profit After Tax 0 150 148 21 6 172 128 -53 -40 162
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 150 148 21 6 172 128 -53 -40 162
Adjusted Earnings Per Share 0 4.7 4.6 0.7 0.2 5.4 4 -1.7 -1.3 5.1

Zydus Wellness Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 431 397 431 513 843 1767 1867 2009 2255 2328 2709 3962
Other Income 28 32 33 35 39 11 9 13 5 14 14 8
Total Income 458 429 463 548 882 1778 1876 2022 2260 2342 2723 3970
Total Expenditure 331 305 332 387 658 1446 1522 1667 1918 2020 2330 3454
Operating Profit 128 124 132 160 224 332 353 355 342 322 393 516
Interest 0 0 1 2 30 140 84 26 16 24 12 99
Depreciation 8 7 7 9 13 26 25 24 25 24 28 147
Exceptional Income / Expenses 0 0 0 0 -10 -44 -132 0 -10 -14 6 -41
Profit Before Tax 120 117 124 150 171 121 112 306 291 260 359 229
Provision for Tax 9 12 13 13 -1 -20 -7 -3 -20 -7 12 32
Profit After Tax 111 105 111 137 171 142 119 309 310 267 347 197
Adjustments -2 -2 -2 -3 -2 0 0 0 0 0 0 0
Profit After Adjustments 109 103 109 134 169 142 119 309 310 267 347 197
Adjusted Earnings Per Share 5.6 5.3 5.6 6.9 5.9 4.9 3.7 9.7 9.8 8.4 10.9 6.1

Zydus Wellness Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 406 479 557 691 3386 3461 4568 4844 5123 5358 5672
Minority's Interest 7 9 11 13 0 0 0 0 0 0 0
Borrowings 0 0 0 0 1500 1500 313 63 0 0 0
Other Non-Current Liabilities 5 5 -55 -71 -77 -107 -111 -23 -131 -135 -120
Total Current Liabilities 90 75 113 122 546 615 771 767 692 769 746
Total Liabilities 508 568 626 755 5356 5469 5540 5651 5684 5992 6297
Fixed Assets 84 82 103 104 4567 4674 4667 4710 4732 4708 5125
Other Non-Current Assets 38 53 7 4 90 20 26 127 43 35 68
Total Current Assets 385 433 516 647 698 776 847 814 908 1214 1104
Total Assets 508 568 626 755 5356 5469 5540 5651 5684 5992 6297

Zydus Wellness Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 268 19 23 21 30 210 193 253 170 37 80
Cash Flow from Operating Activities 69 90 77 69 149 259 287 237 92 246 380
Cash Flow from Investing Activities 29 -28 -72 -59 -4162 -17 -10 -86 -85 -178 -224
Cash Flow from Financing Activities -27 -58 -6 -2 4052 -260 -216 -234 -139 -26 -186
Net Cash Inflow / Outflow 71 4 -1 8 39 -18 60 -83 -132 43 -30
Closing Cash & Cash Equivalent 339 23 21 30 138 193 253 170 38 80 67

Zydus Wellness Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.58 5.29 5.58 6.85 5.87 4.92 3.73 9.71 9.76 8.39 10.91
CEPS(Rs) 6.09 5.74 6.06 7.44 6.37 5.83 4.52 10.45 10.55 9.14 11.8
DPS(Rs) 1.2 1.3 1.3 1.6 1 1 1 1 1 1 1.2
Book NAV/Share(Rs) 20.79 24.5 28.52 35.38 117.46 120.04 143.57 152.26 161.09 168.47 178.35
Core EBITDA Margin(%) 22.06 21.44 21.42 24.04 21.93 16.63 17.11 15.91 13.95 12.36 12.91
EBIT Margin(%) 26.44 27.45 26.93 29.06 23.82 13.53 9.74 15.4 12.7 11.4 12.63
Pre Tax Margin(%) 26.41 27.42 26.81 28.73 20.25 6.28 5.57 14.22 12.03 10.44 12.22
PAT Margin (%) 24.54 24.7 24.06 26.19 20.32 7.34 5.9 14.35 12.84 10.71 11.82
Cash Profit Margin (%) 26.24 26.3 25.61 27.9 21.8 8.71 7.15 15.45 13.87 11.67 12.78
ROA(%) 23.83 19.57 18.64 19.77 5.6 2.62 2.16 5.52 5.48 4.57 5.65
ROE(%) 30.39 23.79 21.49 21.87 8.4 4.14 2.96 6.56 6.23 5.09 6.29
ROCE(%) 32.74 26.44 23.48 23.33 7.08 5.26 3.88 6.41 5.77 5.12 6.43
Receivable days 1.66 1.81 2.68 4.48 22.69 20.25 19.26 20.06 26.43 35.97 40.43
Inventory Days 21.73 21.41 22.05 23.44 58.06 49.65 59.57 61.58 61.84 67.75 61.24
Payable days 219.01 256.06 257.37 234.51 397.09 210.15 203.71 149.46 107.9 108.4 113.05
PER(x) 36.41 28.12 31.17 34.23 44.26 52.77 105.73 30.92 31.76 35.05 30.65
Price/Book(x) 9.77 6.07 6.1 6.63 2.21 2.16 2.75 1.97 1.92 1.75 1.87
Dividend Yield(%) 0.59 0.87 0.75 0.68 0.39 0.39 0.25 0.33 0.32 0.34 0.36
EV/Net Sales(x) 8.42 6.55 6.92 8.18 10.55 5.05 6.88 4.86 4.48 4.06 3.97
EV/Core EBITDA(x) 28.45 21 22.63 26.16 39.75 26.87 36.37 27.48 29.56 29.31 27.31
Net Sales Growth(%) 6.71 -7.9 8.54 19.06 64.41 109.63 5.65 7.63 12.23 3.24 16.37
EBIT Growth(%) 15.44 -2.37 6.51 21.59 32.54 30.12 -24.95 69.14 -7.4 -7.46 30.52
PAT Growth(%) 13.06 -5.32 5.74 22.67 25.44 -17.24 -16.22 160.14 0.5 -14.01 29.97
EPS Growth(%) 12.96 -5.22 5.54 22.87 -14.41 -16.21 -24.08 160.15 0.54 -14.01 29.97
Debt/Equity(x) 0 0 0.04 0.04 0.46 0.44 0.12 0.08 0.06 0.06 0.03
Current Ratio(x) 4.29 5.74 4.55 5.32 1.28 1.26 1.1 1.06 1.31 1.58 1.48
Quick Ratio(x) 4 5.42 4.27 5.03 0.85 0.79 0.63 0.59 0.65 0.97 0.79
Interest Cover(x) 921.38 835.29 226.45 89.08 6.67 1.87 2.34 13 19.07 11.84 30.9
Total Debt/Mcap(x) 0 0 0.01 0.01 0.21 0.2 0.04 0.04 0.03 0.03 0.02

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +16% +10% +9% +20%
Operating Profit CAGR +22% +3% +3% +12%
PAT CAGR +30% +4% +20% +12%
Share Price CAGR +24% +19% +3% +12%
ROE Average +6% +6% +5% +12%
ROCE Average +6% +6% +6% +13%

Zydus Wellness Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 69.64 %
FII 3.18 %
DII (MF + Insurance) 18.87 %
Public (retail) 30.36 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 69.1569.6269.6269.6269.6269.6369.6369.6369.6369.64
FII 3.253.263.293.373.373.293.253.433.273.18
DII 19.6819.4119.4420.3520.1219.7619.2818.7618.5818.87
Public 30.8530.3830.3830.3830.3830.3730.3730.3730.3730.36
Others 0000000000
Total 100100100100100100100100100100

Zydus Wellness Peer Comparison

Consumer Food Edit Columns

Zydus Wellness Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Zydus Wellness Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 6% over the last 3 years.
  • Debtor days have increased from 108.4 to 113.05days.
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