Zydus Lifesciences Limited has informed the Exchange about Investor Presentation
Code: 532321
Code: ZYDUSLIFE
May 20, 2025
Listing Department BSE LIMITED P J Towers, Dalal Street, Mumbai–400 001
Listing Department NATIONAL STOCK EXCHANGE OF INDIA LIMITED Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai–400 051
Re:
Investor Presentation
Dear Sir,
Please find attached the Investor Presentation on the audited financial results for the quarter / year ended on March 31, 2025.
Please find the same in order.
Thanking you,
Yours faithfully, For, ZYDUS LIFESCIENCES LIMITED
DHAVAL N. SONI COMPANY SECRETARY AND COMPLIANCE OFFICER MEMBERSHIP NO. FCS7063
Encl.: As above
Zydus Lifesciences Limited Earnings Presentation: Q4 & Full Year FY25
20th May, 2025
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Dedicated To Life
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Disclaimer and Safe Harbor Statement
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Dedicated To Life
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THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF ZYDUS LIFESCIENCES LIMITED OR ITS SUBSIDIARIES OR JOINT VENTURES (TOGETHER, THE “COMPANY”). The material that follows is a Presentation of general background information about the Company’s activities as at the date of the Presentation or as otherwise indicated. It is information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. This Presentation has been prepared by and is the sole responsibility of the Company. By accessing this Presentation, you are agreeing to be bound by the trading restrictions. It is for general information purposes only and should not be considered as a recommendation that any investor should subscribe / purchase the Company shares. This Presentation includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “may”, “will”, “seeks” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, aims, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Presentation and include statements regarding the Company’s intentions, beliefs or current expectations concerning, amongst other things, its results or operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward- looking statements are not guarantees of future performance including those relating to general business plans and strategy of the Company, its future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that the objectives of the Company will be achieved. There are some important factors that could cause material differences to Company’s actual results. These include (i) our ability to successfully implement our strategy (ii) our growth and expansion plans (iii) changes in regulatory norms applicable to the Company (iv) technological changes (v) investment income (vi) cash flow projections etc.
The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this Presentation, unless otherwise specified is only current as of the date of this Presentation. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this Presentation, the information contained herein is based on management information and estimates. This document is just a Presentation and is not intended to be a “prospectus” or “offer document” or a “private placement offer letter” (as defined or referred to, as the case may be, under the Companies Act, 2013). It is clarified that this Presentation is not intended to be a document offering for subscription or sale of any securities or inviting offers from the Indian public (including any section thereof) or from persons residing in any other jurisdiction including the United States for the subscription to or sale of any securities including the Company’s equity shares. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of the Company’s securities may be offered or sold in the United States without registration under the U.S. Securities Act of 1933, as amended, except pursuant to an exemption from registration there from. This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. This document and its contents should not be forwarded or delivered or transmitted in any manner to any person other than its intended recipient, and should not be reproduced in any manner whatsoever.
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R&D
Highlights of Q4 FY25
❑ Total revenues grew 18% YoY.
Q4 FY25: At a Glance
Revenues from Operations
Rs. 65,279 mn 18% YoY
EBITDA & Margin %
Rs. 21,255 mn 32.6% of revenues 30%YoY
Rs. 4,799 mn 7.4% of revenues
Net Profit ex. Exceptional
Rs. 13,905 mn 18% YoY
Business-wise Sales Break-up (Rs. mn) and YoY Growth
▼10%
▼23%
▲12%
Total 62,902 ▲17%
▲24%
▲11%
▲17%
❑ India branded formulations business posted double-digit growth and
outpaced the market growth.
❑ Consumer Wellness business delivered robust double-digit growth aided
by strong volume uptake.
❑ US formulations business continued its upward journey with a robust
growth driven by volume expansion and new product launches.
❑ International markets business grew in double-digit driven by strong
demand led growth across geographies.
❑ EBITDA margin stood at 32.6%, up 310 bps YoY.
❑ Capex (organic) for the quarter: Rs. 3,202 mn.
❑ Net cash: Rs. 48,836 mn (at 31-Mar’25) vs 8,561 mn (at 31-Mar’24)
Regulatory Updates
❑ Ambernath API manufacturing facility received an Establishment
Inspection Report (EIR) with No Action Indicated (NAI) status against an inspection conducted in February, 2025. The inspection was concluded without any observations.
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Key Financial Metrics (1/2)
Total Revenues (Rs. mn)
Gross Profit (Rs. mn) and Gross Margin %
65,279
2,32,415
70.9%
69.9%
74.0%
48,308
68.1%
72.7%
1,69,035
55,338
52,691
1,95,474
39,223
36,857
1,33,192
Q4FY24
Q3FY25
Q4FY25
FY24
FY25
Q4FY24
Q3FY25
Q4FY25
FY24
FY25
Total R&D (Rs. mn) and % to Revenues
EBITDA (Rs. mn) and EBITDA Margin %
6.4%
9.5%
7.4%
6.7%
5,031
4,799
3,516
13,096
8.0%
18,555
29.5%
26.3%
32.6%
27.5%
21,255
30.4%
70,585
16,305
13,876
53,843
Q4FY24
Q3FY25
Q4FY25
FY24
FY25
Q4FY24
Q3FY25
Q4FY25
FY24
FY25
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Key Financial Metrics (2/2)
PAT ex. Exceptional (Rs. mn)
Organic Capex (Rs. mn)
11,823
10,235
13,905
38,737
47,451
2,907
3,202
12,140
2,126
8,628
Q4FY24
Q3FY25
Q4FY25
FY24
FY25
Q4 FY24
Q3 FY25
Q4 FY25
FY24
FY25
Net Cash (Rs. mn)
Net Working Capital* (Rs. mn)
48,836
65,354
71,427
62,596
60,585
56,629
30,916
25,906
18,922
8,561
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
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*Net working capital includes Inventory, Trade receivables and Trade payables.
India Formulations business
Sustained market outperformance led by strong volume uptake
Highlights for the quarter
Q4 FY25 Revenue Contribution
25%
Q4 FY25 Gr.
YoY
QoQ
10.7%
1.6%
FY25 Gr.
10.1%
Brand building - a key growth driver
Therapy-wise Break-up*
Brand Value (Rs. Mn)*
1000+
500 to 1000
250 to 500
# of Brands
10
20
36
Others 14%
Cardio- Diabeto 16%
Anti- infectives 13%
Pain 8% Derma 6%
GI 9%
Respi 13%
Gynae 6%
Onco 9%
Hepato 2%
Nephro 4%
▪
▪
▪
Branded business grew faster than the market with 11% YoY growth, driven by high uptick in pillar brands and innovation products.
Secondary sales grew faster than the market with 10% YoY growth.
Strong performance in chronic segment and overall higher than market growth in key therapies led to outperformance.
Share of Chronic portfolio has gone up consistently over the years and stood at 43%*, an improvement of 400 bps over the last 3 years.
*Source: IQVIA MAT March 25
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Q4FY24Q3FY25Q4FY25 FY24FY25 Consumer Wellness
Strong volume uptake driven by robust demand across categories
Highlights for the quarter
Q4 FY25 Revenue Contribution
14%
Q4 FY25 Gr.
YoY
QoQ
17.1%
102.3%
FY25 Gr.
16.5%
Key brands continued to hold dominant market share
▪
▪
▪
▪
Growth was largely driven by strong 13% volume growth.
Personal care segment witnessed strong consumer traction and achieved robust double-digit growth.
Food and nutrition segment also registered strong double-digit growth driven by category expansion & product innovation and supported by acquisition of Naturell (India) Pvt. Ltd.
Naturell (India) Pvt. Ltd. is a leading player in healthy snacks category with a brand portfolio of Max Protein and Rite Bite.
Brand Name
Market Share#
58.8%
33.8%
95.9%
7.7%
48.5%
77.7%
4.0%
Facial Cleansing *
Scrub
Peel Off
#Source: Nielsen and IQVIA MAT March 2025 report * Facial cleansing segment includes Face wash, Scrub and Peel-off.
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Q4FY24Q3FY25Q4FY25 FY24FY25 US Formulations business
Base business volume expansion and new launches led to strong growth
Highlights for the quarter
Q4 FY25 Revenue Contribution
Q4 FY25 Revenue Contribution
$ 304 mn
$ 285 mn
$ 363 mn
$ 1049 mn
$ 1307 mn
Q4 FY25 Gr.
YoY
QoQ
24.1%
29.9%
FY25 Gr.
27.2%
Continued investment to build the generics pipeline
ANDA filings and approvals - Q4 FY25
ANDA filings and approvals - FY25
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27
24
^
ANDA filings and approvals - Cumulative
486
421
^
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▪
▪
▪
▪
Base business grew sequentially every quarter through the year driven by volume expansion and new launches.
Launched 5 new products, filed 3 ANDAs and received approval for 6 ANDAs during the quarter.
For the full year, filed 27 ANDAs and received approval for 24 new products (incl. 5 tentative approvals).
For the full year, launched 17 new products in the generics space. On the specialty front, Launched all 3 brands of Sitagliptin 505(b)(2) franchise viz. ZituvioTM, ZituvimetTM and ZituvimetTM XR tablets.
Filings
Approvals
Filings
Approvals
Filings
Approvals
^ includes 5 tentative approvals in FY25 and 27 on a cumulative basis.
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Q4FY24Q3FY25Q4FY25 FY24FY25 International Markets Formulations business
Strong growth on the back of resilient demand across markets
Highlights for the quarter
Q4 FY25 Revenue Contribution
Q4 FY25 Revenue Contribution
▪
▪
Sustained the growth momentum with a strong demand led growth across geographies.
Focused on expanding the presence in select therapies across key markets by leveraging the global R&D portfolio of generics and specialty products.
Q4 FY25 Gr.
YoY
QoQ
11.8%
-2.7%
FY25 Gr.
13.8%
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Q4FY24Q3FY25Q4FY25 FY24FY25 Updates on Innovation (1/2)
NCE: Saroglitazar Magnesium
• Data monitoring and follow-up is going on post the completion of patient recruitment for Phase II(b)/ III clinical trials for PBC
indication and Phase II(b) clinical trials MASH indication for the US market.
NCE: Usnoflast
• Received the USFDA approval to conduct Phase II(b) clinical trials in patients with ALS.
• The USFDA has also granted an ODD status to the molecule for ALS indication.
Vaccines R&D
• With the support of Gates Foundation, initiated development of the world’s first combination vaccine against shigellosis and typhoid. We shall conduct early-stage development, animal immunogenicity studies and regulatory preclinical toxicology studies for this combination vaccine.
• Received regulatory approval to initiate Phase II clinical trials for Bivalent TCV vaccine.
PBC – Primary Biliary Cholangitis, MASH - Metabolic Dysfunction-Associated Steatohepatitis, ALS – Amyotrophic Lateral Sclerosis, ODD – Orphan Drug Designation, TCV – Typhoid Conjugate Vaccine
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Updates on Innovation (2/2)
Specialty Initiatives
• Entered into an exclusive licensing, supply and commercialization agreement with Zhuhai Beihai Biotech Co., Ltd for BEIZRAY,
which is an Albumin Solubilized Docetaxel Injection, a 505(B)(2) product for the US market.
BEIZRAY, is the first clinically validated, improved formulation of Docetaxel without synthetic excipients like Polysorbate-80 or Sulfobutyl Ether Cyclodextrin. BEIZRAY is indicated for the treatment of breast Cancer, non-small cell lung cancer, prostate cancer, gastric adenocarcinoma, and head and neck cancer.
• Entered into an exclusive development, licensing, supply and commercialization agreement with Synthon BV of the
Netherlands for a novel 505(B)(2) Oncology product. NDA for the product is likely to be filed in 2026.
The product will provide additional benefits in the form of reduced pill burden, flexibility for dose adjustment and enhanced patient compliance.
NDA – New Drug Application
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Other Updates
Acquisition of Amplitude Surgical x Zy ’ MedTech strategy
• Forayed into Medtech space by entering into a share purchase agreement to
acquire a majority stake in Amplitude Surgical SA, France.
• The proposed acquisition shall act as a platform to x Zy ’ g b
MedTech strategy and a natural extension for the Company having a proven track record in life sciences and wellness segments.
• Amplitude Surgical holds leading position in the attractive orthopaedics market
with global reach.
• Holds extensive, high-quality portfolio compliant with the highest quality
standards and regulations enhanced by ongoing product development pipeline and computer assisted program.
• Dedicated team of R&D personnel working in close partnership with various
stakeholders to develop technologically advanced products (e.g. Andy – Surgical Robot).
• Zydus’ operational excellence and global footprint will enable potential
synergies and efficiencies.
• Revenue of € + and superior margin profile with continued initiatives to
optimize business model and maximize value creation.
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Zydus at a Glance
~$2.75 bn
Global Revenues1
5th
Largest generic Co. in US in terms of prescription3
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R&D Centers For NCE, APIs, Generics, Vaccines Biosimilars and Wellness products
>35% Revenues from India Geography (Formulations and wellness) in FY25
Among Top 3
In >55% of product families marketed in US4
1st
Approved product for NASH in India - (Bilypsa® - Saroglitazar)
$10.7 1st bn
Market Capitalization2
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Brands among Top 300 in India5
1st 1st
OSD formulation for anemia associated with CKD – OxemiaTM (Desidustat)
38 Mfg. sites having
capabilities across dosage forms
Biosimilars (pipeline & launched) & 7 novel products (pipeline)
>27 K
Biosimilars (pipeline & Zydans globally incl. launched) & 7 novel >1400 scientists (R&D) products (pipeline)
24 Biosimilars in portfolio
Biosimilars (pipeline & (incl. 3 ADCs), launched launched) & 7 novel 14 products in India products (pipeline)
1. 2. 3.
In FY25, assuming exchange rate of Rs. 84.57 per USD As on 19th May,2025, exchange rate of Rs. 85.43 per USD IQVIA MAT March 2025 TRx
4. IQVIA MAT March 2025 TRx 5. As per IQVIA MAT March 2025
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ESG Highlights
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Dedicated To Life
ESG Performance
ESG Ratings
... Climate Change @f 45% reduction in GHG Intensity by 2030 •• - - ~
(GHG Emissions)
~ 2/3 of target achieved.
Period
2022
2023
2024
: S&P Global
II
t;@~
II
@f Net Carbon Neutral by 2035
...
. . . . . . . . . .
Zydus Lifesciences Limited holds the 2nd position in the ESG Rating by S&P Global for 2024 (Indian peers)
~ ~40% of renewable energy in the total energy mix
Water
@f Net Water Neutral by 2028
SUSTAINALYTICS
38.3- High Risk
29.5-Medium Risk
Management
~ Creation of water recharge structures in progress
~ Achieved wastewater recycling
~ 43% (FY25) against 38% (FY24)
3.1/5
Waste
Management
@f Waste disposal via co-processing up 40% for
India operations by 2026
ecovadi
'
■ '
~ 36% waste disposal via co-processing FY25
•Lower the better
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Consolidated Financial Performance (reported)
* Excludes Research related expenses
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Rs. mnQ4 FY25Q4 FY24YoYgr.Q3 FY25QoQgr.FY25FY24YoYgr.Total Income from Ops.65,279 55,338 18.0%52,691 23.9%2,32,415 1,95,474 18.9%Gross Contribution (GC)48,308 39,223 23.2%36,857 31.1%1,69,035 1,33,192 26.9%Gross Margin %74.0%70.9%69.9%72.7%68.1%Employee benefits expenses *8,695 7,545 15.2%8,516 2.1%32,896 28,190 16.7%R&D expenses4,799 3,516 36.5%5,031 -4.6%18,555 13,096 41.7%Other operating expenses13,165 11,910 10.5%11,260 16.9%48,633 38,873 25.1%Net [gain]/loss on foreign currency transactions394 -53 843.4%-1,826 121.6%-1,634 -810 -101.7%EBITDA21,255 16,305 30.4%13,876 53.2%70,585 53,843 31.1%EBITDA Margin %32.6%29.5%26.3%30.4%27.5%Other Income806 1,564 -48.5%575 40.2%2,695 2,841 -5.1%Finance cost766 346 121.4%320 139.4%1,659 812 104.3%Depreciation and amortization2,379 2,053 15.9%2,290 3.9%9,158 7,641 19.9%PBT before exceptional items18,916 15,470 22.3%11,841 59.8%62,463 48,231 29.5%Exceptional Expenses/ (Incomes)2,196 - - 2,196 142 1446.5%Profit before Tax16,720 15,470 8.1%11,841 41.2%60,267 48,089 25.3%Tax expenses4,232 3,212 31.8%1,795 135.8%14,119 9,775 44.4%Share of profit from JVs-51 171 -129.8%219 -123.3%578 1,184 -51.2%Profit/(loss) from discontinued ops.- 32 -100.0%-3 100.0%- 230 Minority Interest728 638 14.1%27 2596.3%1,471 1,133 29.8%Reported Net Profit11,709 11,823 -1.0%10,235 14.4%45,255 38,595 17.3% Details of Exchange Rate Fluctuations
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Rs. mnQ4 FY25Q4 FY24YoYgr. %FY25FY24YoYgr. %A. On operating transactions (above EBITDA line)504 -57 983.3%-1,451 -864 -68.0%a. Included in COGS110 -4 2815%183 -54 441.5%b. Part of other operating expenses (shown separately)394 -53 843%-1,634 -810 -101.7%c. Part of non-operating expenses B. On other income191 - 191 - C. On foreign currency borrowings (part of finance cost)- - - 4 -100.0%Total Exchange Rate Fluctuations ('+' = loss, '-' = gain)695 -57 1318.1%-1,260 -860 -46.6% Thank you
For any queries, please contact Arvind Bothra Arvind.Bothra@zyduslife.com +91-22-62711905
For more information, please visit: www.zyduslife.com
www.linkedin.com/company/zyduslife
Registered Office:
Zydus Corporate Park, Scheme No. 63, Survey No. 536, Khoraj (Gandhinagar), Nr. Vaishnodevi Circle, Sarkhej-Gandhinagar Highway, Ahmedabad – 382 481 Gujarat, India