On consolidated basis

Quarter ended March 2025 compared with Quarter ended March 2024.

Net sales (including other operating income) of Zydus Lifesciences has increased 17.96% to Rs 6527.9 crore.  Sales of pharmaceuticals segment has gone up 18.15% to Rs 5,617.20 crore (accounting for 86.05% of total sales).  Sales of Consumer Products segment has gone up 16.82% to Rs 910.70 crore (accounting for 13.95% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 22.28% to Rs 1,891.60 crore.  PBIT of pharmaceuticals segment rose 22.78% to Rs 1,719.60 crore (accounting for 90.91% of total PBIT).  PBIT of Consumer Products segment rose 17.49% to Rs 172.00 crore (accounting for 9.09% of total PBIT).  

PBIT margin of pharmaceuticals segment rose from 29.46% to 30.61%.  PBIT margin of Consumer Products segment rose from 18.78% to 18.89%.  Overall PBIT margin rose from 27.96% to 28.98%.  

Operating profit margin has jumped from 29.46% to 32.56%, leading to 30.36% rise in operating profit to Rs 2,125.50 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 21.32% to 17.73%.   Purchase of finished goods cost fell from 9.57% to 8.72%.   Employee cost increased from 14.75% to 14.79%.   Other expenses rose from 25.63% to 26.40%.   

Other income fell 48.47% to Rs 80.6 crore.  PBIDT rose 23.46% to Rs 2206.1 crore.  Provision for interest rose 121.39% to Rs 76.6 crore.  Loan funds rose to Rs 3,213.20 crore as of 31 March 2025 from Rs 804.20 crore as of 31 March 2024.  Inventories rose to Rs 3,944.00 crore as of 31 March 2025 from Rs 3,441.90 crore as of 31 March 2024.  Sundry debtors were lower at Rs 4,024.70 crore as of 31 March 2025 compared to Rs 5,220.20 crore as of 31 March 2024.  Cash and bank balance rose to Rs 2,956.80 crore as of 31 March 2025 from Rs 1,105.10 crore as of 31 March 2024.  Investments rose to Rs 6,407.80 crore as of 31 March 2025 from Rs 1,220.50 crore as of 31 March 2024 .  

PBDT rose 21.53% to Rs 2129.5 crore.  Provision for depreciation rose 15.88% to Rs 237.9 crore.  Fixed assets increased to Rs 7,359.90 crore as of 31 March 2025 from Rs 6,914.80 crore as of 31 March 2024.  Intangible assets increased from Rs 7,877.00 crore to Rs 8,465.70 crore.  

Profit before tax grew 22.28% to Rs 1,891.60 crore.  Share of loss from associates Rs 5.1 crore compared to profit of Rs 17.1 crore. PBT before EO increased 20.61% to Rs 1,886.5 crore.

Extraordinary items were an expense of Rs 219 crore compared to nil. Provision for tax was expense of Rs 423.2 crore, compared to Rs 321.2 crore.  Effective tax rate was 25.39% compared to 20.54%.

Minority interest increased 14.11% to Rs 72.80 crore.  Net profit attributable to owners of the company decreased 0.70% to Rs 1,170.90 crore.  

Equity capital stood at Rs 100.60 crore as of 31 March 2025 to Rs 100.60 crore as of 31 March 2024.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 74.99% as of 31 March 2025 ,compared to 74.98% as of 31 March 2024 .  

Full year results analysis.

Net sales (including other operating income) of Zydus Lifesciences has increased 18.90% to Rs 23241.5 crore.  Sales of pharmaceuticals segment has gone up 19.20% to Rs 20,543.90 crore (accounting for 88.39% of total sales).  Sales of Consumer Products segment has gone up 16.68% to Rs 2,697.60 crore (accounting for 11.61% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 29.51% to Rs 6,246.30 crore.  PBIT of pharmaceuticals segment rose 29.46% to Rs 5,899.30 crore (accounting for 94.44% of total PBIT).  PBIT of Consumer Products segment rose 30.30% to Rs 347.00 crore (accounting for 5.56% of total PBIT).  

PBIT margin of pharmaceuticals segment rose from 26.44% to 28.72%.  PBIT margin of Consumer Products segment rose from 11.52% to 12.86%.  Overall PBIT margin rose from 24.67% to 26.88%.  

Operating profit margin has jumped from 27.54% to 30.37%, leading to 31.09% rise in operating profit to Rs 7,058.50 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.14% to 18.67%.   Purchase of finished goods cost fell from 9.59% to 9.18%.   Employee cost decreased from 15.85% to 15.71%.   Other expenses rose from 24.23% to 26.31%.   

Other income fell 5.14% to Rs 269.5 crore.  PBIDT rose 29.28% to Rs 7328 crore.  Provision for interest rose 104.31% to Rs 165.9 crore.  Loan funds rose to Rs 3,213.20 crore as of 31 March 2025 from Rs 804.20 crore as of 31 March 2024.  Inventories rose to Rs 3,944.00 crore as of 31 March 2025 from Rs 3,441.90 crore as of 31 March 2024.  Sundry debtors were lower at Rs 4,024.70 crore as of 31 March 2025 compared to Rs 5,220.20 crore as of 31 March 2024.  Cash and bank balance rose to Rs 2,956.80 crore as of 31 March 2025 from Rs 1,105.10 crore as of 31 March 2024.  Investments rose to Rs 6,407.80 crore as of 31 March 2025 from Rs 1,220.50 crore as of 31 March 2024 .  

PBDT rose 28.19% to Rs 7162.1 crore.  Provision for depreciation rose 19.85% to Rs 915.8 crore.  Fixed assets increased to Rs 7,359.90 crore as of 31 March 2025 from Rs 6,914.80 crore as of 31 March 2024.  Intangible assets increased from Rs 7,877.00 crore to Rs 8,465.70 crore.  

Profit before tax grew 29.51% to Rs 6,246.30 crore.  Share of profit/loss was 51.18% lower at Rs 57.8 crore.  Extraordinary items were decreased to Rs -219.60 crore.  Provision for tax was expense of Rs 1411.9 crore, compared to Rs 977.5 crore.  Effective tax rate was 23.20% compared to 19.84%.

Minority interest increased 29.83% to Rs 147.10 crore.  Net profit attributable to owners of the company increased 17.96% to Rs 4,525.50 crore.  

Equity capital stood at Rs 100.60 crore as of 31 March 2025 to Rs 100.60 crore as of 31 March 2024.  Per share face Value remained same at Rs 1.00.  

Promoters' stake was 74.99% as of 31 March 2025 ,compared to 74.98% as of 31 March 2024 .  

Cash flow from operating activities increased to Rs 6,776.70 crore for year ended March 2025 from Rs 3,196.30 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 1,712.60 crore, compared to Rs 906.60 crore during the year ended March 2024.  

Business Highlights

The board has recommended a final dividend of Rs 11 per equity share of Re 1 each for FY25. The Record Date fixed for the purpose is Friday, July 25, 2025.

In Q4 FY25, exceptional items include Rs 135 crore for the impairment of goodwill related to the Brazil business and Rs 84.6 crore for the impairment of a product-related intangible asset held by Zydus Worldwide DMCC, a wholly owned subsidiary.

Capex (organic) for the quarter was Rs 320.2 crore. Capex for the full year was Rs 1,214 crore.

In Q4 FY25, the India business contributed 39% to the total revenue, with Formulations accounting for 25% and Consumer Wellness for 14%. US Formulations contributed 50%, International Formulations 9%, APIs 2%, and Alliances & Others 0.4%.

In Q4 FY25, the India Formulations business grew by 10.7% YoY, Consumer Wellness was up 17.1%, US Formulations rose 24.1%, and International Formulations increased 11.8%. However, revenue from the API segment declined by 10.2% YoY, and the Alliances & Others segment was down 22.7% YoY.

The company forayed into the Medtech space by entering into agreements to acquire a controlling stake (85.6%) in Amplitude Surgical SA, France, a leading player in the global orthopaedics market. The stake will be acquired at a price of EUR 6.25 per share, totaling EUR 256.80 million (approximately Rs 2,379.8 crore).

The proposed acquisition shall act as a platform to execute its global MedTech strategy and a natural extension for the Company having a proven track record in life sciences and wellness segments. Zydus operational excellence and global footprint will enable potential synergies and efficiencies.

Management Comments :
Dr. Sharvil Patel, Managing Director - Zydus Lifesciences said, We are happy to conclude FY 2025 on a strong note, with all our businesses surpassing our growth expectations. The commercial success of our extensive product portfolio combined with operating leverage has significantly bolstered profitability and financial health. We made meaningful progress in our differentiated pipeline and added new capabilities to ensure sustainable growth. We look forward to continued execution success and deepening strategic partnerships to drive long term growth. Our commitment to maintaining the highest quality standards across our operations remains unwavering.'

Zydus Lifesciences : Consolidated Results

Quarter ended Year ended Particulars 202503 202403 Var.(%) 202503 202403 Var.(%) Net Sales (including other operating income) 6,527.90 5,533.80 17.96 23,241.50 19,547.40 18.90 OPM (%) 32.56 29.46 310 bps 30.37 27.54 283 bps OP 2,125.50 1,630.50 30.36 7,058.50 5,384.30 31.09 Other Inc. 80.60 156.40 -48.47 269.50 284.10 -5.14 PBIDT 2,206.10 1,786.90 23.46 7,328.00 5,668.40 29.28 Interest 76.60 34.60 121.39 165.90 81.20 104.31 PBDT 2,129.50 1,752.30 21.53 7,162.10 5,587.20 28.19 Depreciation 237.9 205.3 15.88 915.8 764.1 19.85 PBT 1,891.60 1,547.00 22.28 6246.3 4823.1 29.51 Share of Profit/(Loss) from Associates -5.1 17.1 PL 57.8 118.4 -51.18 PBT before EO 1886.5 1564.1 20.61 6304.1 4941.5 27.57 EO Income -219.6 0 - -219.6 -14.2 -1,446.48 PBT after EO 1666.9 1564.1 6.57 6084.5 4927.3 23.49 Taxation 423.2 321.2 31.76 1411.9 977.5 44.44 PAT 1243.7 1242.9 0.06 4672.6 3949.8 18.30 Minority Interest (MI) 72.8 63.8 14.11 147.1 113.3 29.83 Net profit 1170.9 1179.1 -0.70 4525.5 3836.5 17.96 P/(L) from discontinued operations net of tax 0 3.2 - 0 23 - Net profit after discontinued operations 1170.9 1182.3 -0.96 4525.5 3859.5 17.26 EPS (Rs)* 13.17 11.72 12.40 46.59 38.24 21.85 * EPS is on current equity of Rs 100.62 crore, Face value of Rs 1, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Zydus Lifesciences : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202503 202403 Var.(%) % of (Total) 202503 202403 Var.(%) Sales pharmaceuticals 86.05 5,617.20 4,754.20 18.15 88.39 20,543.90 17,235.40 19.20 Consumer Products 13.95 910.70 779.60 16.82 11.61 2,697.60 2,312.00 16.68 Total Reported Sales 100.00 6,527.90 5,533.80 17.96 100.00 23,241.50 19,547.40 18.90 Less: Inter segment revenues   0.00 0.00 -   0.00 0.00 - Net Sales 100.00 6,527.90 5,533.80 17.96 100.00 23,241.50 19,547.40 18.90 PBIT pharmaceuticals 90.91 1,719.60 1,400.60 22.78 94.44 5,899.30 4,556.80 29.46 Consumer Products 9.09 172.00 146.40 17.49 5.56 347.00 266.30 30.30 Total PBIT 100.00 1,891.60 1,547.00 22.28 100.00 6,246.30 4,823.10 29.51 Less : Interest 0.00 0.00 - 0.00 0.00 - Add: Other un-allcoable 0.00 0.00 - 0.00 0.00 - PBIT Margin(%) pharmaceuticals   30.61 29.46 115.29   28.72 26.44 227.70 Consumer Products   18.89 18.78 10.77   12.86 11.52 134.51 PBT 100.00 1,891.60 1,547.00 22.28 100.00 6,246.30 4,823.10 29.51

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