Zydus Lifesciences Limited has informed the Exchange about Investor Presentation
Code: 532321
Code: ZYDUSLIFE
August 12, 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 unaudited financial results for the quarter ended on June 30, 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: Q1 FY26
12th August, 2025
1
Disclaimer and Safe Harbor Statement
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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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Q1 FY26: At a Glance
Revenues from Operations
Rs. 65,737 mn 6% YoY
R&D
Highlights of Q1 FY26
Rs. 4,856 mn 7.4% of revenues
❑ Total revenues registered stable growth of 6% YoY.
❑ India branded formulations sustained the growth momentum and
outpaced the market growth for yet another quarter.
EBITDA & Margin %
Net Profit
❑ Consumer Wellness navigated through the challenges posed by early
monsoon conditions which impacted the seasonal brands.
Rs. 20,885 mn 31.8% of revenues flat YoY
Rs. 14,668 mn 3% YoY
Business-wise Sales Break-up (Rs. mn) and YoY Growth
API 2.4% ▲11%
Alliances 0.4% ▼28%
IM Formulations 11%
▲37%
Total 64,670 ▲7%
US 49% ▲3%
India Form 24% ▲8%
Consumer Wellness 13% ▲2%
❑ US formulations business sustained execution excellence and grew both
YoY and QoQ on a high base.
❑ International Markets business delivered another strong growth performance driven by all round growth across key geographies.
❑ EBITDA margin stood at 31.8%, flat YoY.
❑ Capex (organic) for the quarter: Rs. 4,020 mn.
❑ Net cash: Rs. 56,312 mn (at 30-Jun’25) vs 48,836 mn (at 31-Mar’25)
Regulatory Updates
❑ API manufacturing facilities at Ankleshwar and Dabhasa received
Establishment Inspection Reports (EIR) from the USFDA against the inspections conducted in March and April, 2025 respectively.
3
Key Financial Metrics (1/2)
Total Revenues (Rs. mn)
Gross Profit (Rs. mn) and Gross Margin %
62,075
65,279
65,737
52,370
52,691
74.4 %
46,214
71.9 %
69.9 %
74.0 %
48,308
72.8%
47,842
37,656
36,857
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Total R&D (Rs. mn) and % to Revenues
EBITDA (Rs. mn) and EBITDA Margin %
6.3 %
9.2 %
4,800
3,925
9.5 %
5,031
7.4 %
7.4 %
4,799
4,856
33.6 %
20,840
27.9 %
26.3 %
32.6 %
21,255
31.8 %
20,885
14,614
13,876
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
4
Key Financial Metrics (2/2)
PAT ex. Exceptional (Rs. mn)
Organic Capex (Rs. mn)
14,199
13,905
14,668
4,020
9,112
10,235
3,014
3,017
2,907
3,202
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Net Cash (Rs. mn)
Net Working Capital* (Rs. mn)
56,312
71,427
48,836
62,596
60,585
56,629
56,902
25,906
30,916
18,922
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
*Net working capital includes Inventory, Trade receivables and Trade payables.
Q1 FY26
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India Formulations business
Sustained market outperformance driven by chronic portfolio
Highlights for the quarter
India Formulations Sales (Rs. mn)
14,073
14,569
15,145
15,394
15,195
Q1 FY26 Revenue Contribution
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY26 Gr.
YoY
QoQ
8.0%
-1.3%
Brand building - a key growth driver
Therapy-wise Break-up*
Brand Value (Rs. Mn)*
1000+
500 to 1000
250 to 500
# of Brands
9
22
35
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 sustained the growth momentum and outpaced market growth for yet another quarter.
Pillar brands and innovation portfolio posted strong growth, driving the overall performance.
Chronic segment continued to grow at a faster pace driving the overall growth of the business.
Grew faster than the market in key therapies of Cardiology, Respiratory, Anti-infectives, Pain Management and Oncology.
On the Super Specialty front, continued to hold leadership position in Oncology therapy.
Share of Chronic portfolio has gone up consistently over the years and stood at 43.7%*, an improvement of 420 bps over the last 3 years.
*Source: IQVIA MAT June 25
6
Consumer Wellness
Navigating challenges posed by early monsoon conditions
Dominant market share across key brands
Consumer Wellness Sales (Rs. mn)
8,366
9,081
8,549
Q1 FY26 Revenue Contribution
Brand Name
Mkt Share %
Mkt Rank
4,875
4,488
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY26 Gr.
YoY
QoQ
2.2%
-5.9%
Highlights for the quarter
▪
▪
Excluding seasonal brands, registered strong double-digit growth reflecting the underlying strength of the portfolio and balanced business model.
Organized trade saliency continued to improve, reaching 30.9% in Q1 FY26, up from 23.3% in Q1 FY25. Within this, e-commerce contributed 14.5%, and modern trade contributed 16.4%.
Facial Cleansing #
Scrub
Peel Off
33.3%*
7.8%*
48.7%*
77.2%*
58.9%*
4.0%*
96.1%*
1*
5*
1*
1*
1*
5*
1*
1**
1 **
*Source: Nielsen and IQVIA MAT June 2025 report ** Company Estimates # Facial cleansing segment includes Face wash, Scrub and Peel-off
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7
US Formulations business
Sustained execution excellence with growth on a higher base
Highlights for the quarter
US Formulations Sales (Rs. mn)
Q1 FY26 Revenue Contribution
30,929
31,307
31,817
24,168
24,096
▪
▪
Launched 3 new products.
Filed 3 ANDAs and received approval for 6 ANDAs (incl. 2 tentative approvals).
$ 371 mn
$ 288 mn
$ 285 mn
$ 363 mn
$ 372 mn
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY26 Gr.
YoY
QoQ
2.9%
1.6%
Continued investment to build the generics pipeline
ANDA filings and approvals - Q1 FY26
^
6
3
ANDA filings and approvals - Cumulative
481
^
419
Filings
Approvals
Filings
Approvals
^ includes 2 tentative approvals in Q1 FY26 and 26 on a cumulative basis.
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International Markets Formulations business
Strong growth on the back of resilient demand across markets
Highlights for the quarter
IM Formulations Sales (Rs. mn)
7,265
Q1 FY26 Revenue Contribution
5,309
5,389
5,702
5,547
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q1 FY26 Gr.
YoY
QoQ
36.8%
31.0%
▪
▪
▪
All round growth across key geographies driven by strong demand and focused execution.
In Emerging Markets, focus remains on expanding presence across focused therapies through multiple levers.
In Europe, focus remains on expanding the offerings and enhance the market coverage.
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Updates on Innovation
NCE: Usnoflast
• Initiated Phase II(b) clinical trials in the US in patients with ALS. The USFDA granted Fast Track designation to the molecule for
ALS indication. The molecule also holds an ODD from the USFDA for this indication.
Biotech R&D
• Received marketing authorization approval from the DCGI for Rituximab and Aflibercept biosimilars.
• Received regulatory approval to initiate Phase III clinical trials for the second ADC molecule.
Vaccine R&D
• Completed Phase II clinical trials of Hepatitis E Vaccine.
• Initiated Phase IV clinical trials of rabies vaccine to evaluate the long-term immunogenicity and safety viz-a-viz the WHO
pre-qualified vaccine in animal bite cases.
ALS – Amyotrophic Lateral Sclerosis, ODD – Orphan Drug Designation, DCGI – Drug Controller General of India, ADC – Antibody Drug Conjugate, WHO – World Health Organization
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Other Updates
Acquisition of Amplitude Surgical to execute Zydus’ MedTech strategy
▪
Successfully completed stake acquisition in Amplitude Surgical SA, France, a European MedTech leader in high-quality, lower-limb orthopaedic technologies ▪ Amplitude’s portfolio comprises of technologically advanced products and solutions backed by cutting-edge research & innovation and complemented by robotic surgery platform.
Foray into the global biologics CDMO business
▪
Plans to acquire Agenus Inc.'s US based biologics manufacturing facilities
▪ US$ 75 mn upfront payment for two manufacturing facilities each in Emeryville
and Berkeley, the US; US$ 50 mn contingent payments
▪
▪
Exclusive manufacturing agreement for Botensilimab (BOT) and Balstilimab (BAL) with Agenus
immuno-oncology products viz.
Exclusive license for BOT and BAL therapies in India and Sri Lanka
▪ US$16 mn equity investment at US$ 7.5 per share
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Zydus at a Glance
~$2.75 bn
Global Revenues1
5th
Largest generic Co. in US in terms of prescription3
7
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 ~60% of product families marketed in US4
1st
Approved product for NASH in India - (Bilypsa® - Saroglitazar)
$10.7 bn
1st
Market Capitalization2
7
Brands among Top 300 in India5
1st 1st
OSD formulation for anemia associated with CKD – OxemiaTM (Desidustat)
39 Mfg. sites having
capabilities across dosage forms
Biosimilars (pipeline & launched) & 7 novel products (pipeline)
>27 K
Biosimilars (pipeline & Zydans globally incl. launched) & 7 novel >1500 scientists (R&D) products (pipeline)
25 Biosimilars in portfolio
Biosimilars (pipeline & (incl. 4 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 8th August,2025, exchange rate of Rs. 87.54 per USD IQVIA MAT June 2025 TRx
4. IQVIA MAT June 2025 TRx 5. As per IQVIA MAT June 2025
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ESG Highlights
Climate Change (GHG Emissions)
Water Management
45% reduction in GHG Intensity by 2030
26% GHG Intensity reduction in last three years
Net Carbon Neutral by 2035
50% energy requirements from renewable sources by 2030
44% RE achievement in the total energy mix by FY2025
Net Water Neutral by 2028
Creation of water recharge structures in progress
19% reduction in water intensity in last three years
Waste Management
Waste disposal via co-processing up 40% for India operations by 2026 55% waste disposal via co-processing in FY2025
~137% target achievement by FY2025
17% reduction in waste intensity in last three years
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ESG Ratings
*Lower the better
14
Consolidated Financial Performance (reported)
* Excludes Research related expenses
15
Rs. mnQ1 FY26Q1 FY25YoYgr.Q4 FY25QoQgr.Total Income from Operations65,737 62,075 5.9%65,279 0.7%Gross Contribution (GC)47,842 46,214 3.5%48,308 -1.0%Gross Margin %72.8%74.4%74.0%Employee benefits expenses*9,024 7,820 15.4%8,695 3.8%R&D expenses4,856 3,925 23.7%4,799 1.2%Other operating expenses13,648 13,377 2.0%13,165 3.7%Net [gain]/loss on foreign currency transactions-571 252 -326.6%394 -244.9%EBITDA20,885 20,840 0.2%21,255 -1.7%EBITDA Margin %31.8%33.6%32.6%Other Income1,549 632 145.1%806 92.2%Finance cost847 322 163.0%766 10.6%Depreciation and amortization2,381 2,153 10.6%2,379 0.1%PBT before exceptional items19,206 18,997 1.1%18,916 1.5%Exceptional Expenses/ (Income)2,196 -100.0%Profit before Tax19,206 18,997 1.1%16,720 14.9%Tax expenses4,340 4,361 -0.5%4,232 2.6%Share of profit from JVs344 189 82.0%-51 774.5%Minority Interest542 626 -13.4%728 -25.5%Reported Net Profit14,668 14,199 3.3%11,709 25.3% Details of Exchange Rate Fluctuations
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Rs. mnQ1 FY26Q1 FY25YoYgr. %A. On operating transactions (above EBITDA line)-500 233 -314.7%a. Included in COGS71 -19 471%b. Part of other operating expenses (shown separately)-571 252 -327%B. On other income200 - Total Exchange Rate Fluctuations ('+' = loss, '-' = gain)-300 233 -228.8% 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