Key Financial Figures

Consolidated Financial Performance (₹ million):

  • Revenue from operations: ₹80,170 (up 22.0% YoY from ₹65,737; up 5.7% QoQ from ₹75,870)
  • EBITDA: ₹19,294 (down 7.6% YoY from ₹20,885; down 24.5% QoQ from ₹25,544)
  • EBITDA margin: 24.1% (vs 31.8% in Q1 FY26 and 33.7% in Q4 FY26)
  • PBT: ₹13,066 (down 32.0% YoY from ₹19,206; down 21.3% QoQ from ₹16,597)
  • Net Profit: ₹9,398 (down 35.9% YoY from ₹14,668; down 26.1% QoQ from ₹12,725)
  • R&D investments: ₹6,424 million (8% of revenues)
  • Capex (organic): ₹5,852 million
  • Net Debt to Equity ratio: 0.22x as of June 30, 2026
  • Net Debt to EBITDA: 0.70x as of June 30, 2026

Business-wise Sales Performance (₹ million)

Pharma Business (Total: ₹60,900; +8.6% YoY):

  • India Formulations: ₹18,158 (+19.5% YoY; 23% of consolidated revenues)
  • North America Formulations: ₹30,979 (-2.6% YoY; 40% of consolidated revenues; US$327 million constant currency)
  • IM Formulations: ₹9,735 (+34.0% YoY; 12% of consolidated revenues)
  • APIs: ₹1,804 (+14.5% YoY; 2% of consolidated revenues)
  • Alliances & Others: ₹224 (-11.1% YoY; 0.3% of consolidated revenues)

Other Businesses:

  • Consumer Wellness: ₹14,292 (+67.2% YoY; 18% of consolidated revenues)
  • MedTech: ₹2,828 (4% of consolidated revenues)

Operational and Business Updates

India Formulations Business:

  • Outperformed IPM growth over last 3 financial years
  • Growth across super-specialty, chronic and acute segments
  • Improved rankings in Cardiology, Diabetology, Pain Management
  • Leadership position in Oncology segment maintained
  • Chronic and sub-chronic portfolio at 54.2% (360 bps improvement over 4 years)

North America Formulations Business:

  • Filed 5 ANDAs, received approval for 9 ANDAs (including 4 tentative approvals)
  • Launched 11 new products during quarter
  • Launched NUFYMCO™ (Ranibizumab) injection, first biosimilar in US market
  • Completed acquisition of Assertio Holdings
  • In Canada: Received 2 ANDS approvals, launched 2 new products

Compliance Update:

  • Injectable manufacturing facility at Zydus Biotech Park received Establishment Inspection Report (EIR) with Voluntary Action Indicated (VAI) classification following GMP surveillance inspection in April-May 2026

Innovation Pipeline Updates

NCE Research:

  • USFDA granted priority review to New Drug Application (NDA) of Saroglitazar Magnesium for treatment of Primary Biliary Cholangitis (PBC)
  • Regulatory approval in India to initiate Phase III clinical trials of Desidustat in patients with sickle cell disease

Biotech R&D:

  • Initiated Phase III clinical trials in India for second biosimilar antibody drug conjugate

Vaccines R&D:

  • Completed Phase II clinical trials of bivalent Typhoid Conjugate vaccine
  • Initiated Phase I clinical trials of Chikungunya vaccine in India
  • Submitted dossier of Measles and Rubella (MR) vaccine to WHO; accepted for review

Strategic Developments

  • Entered into joint venture agreement with Sunshine Healthcare Lanka Limited to establish pharmaceutical manufacturing facility in Sri Lanka to strengthen local production and reduce import dependence

Management Commentary

Dr. Sharvil Patel, Managing Director, stated: "FY27 is off to a strong, profitable start. We continue advancing into an innovation-led, patient-centric organization. Our branded portfolio now exceeds 55% of revenues. Notably, the share of branded sales in the US reached 11% and will continue to expand with the upcoming Saroglitazar launch. Backed by diverse manufacturing and robust quality systems, we will further strengthen our core businesses and expand our market share. Driven by execution rigor and acquisition synergies, we are well-positioned for our next growth phase."

Earnings Call Details

  • Date: August 11, 2026 at 4:00 PM IST
  • Zoom registration: https://bit.ly/4w2juWX
  • Transcript will be available at company website: https://www.zyduslife.com/investorzone