Zydus Lifesciences Limited (ZYDUSLIFE)

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Zydus Lifesciences Limited (ZYDUSLIFE) · mywealthgrid

About

Zydus Lifesciences is a pharmaceutical company operating within India's healthcare sector. With a market cap of ₹1,13,236 Cr and consolidated quarterly revenues of ₹6,000–8,000 Cr, it operates at significant scale. The company's structure includes standalone and consolidated subsidiary operations, indicating a diversified portfolio within pharmaceuticals.

Founded: 1952
Face value: ₹1

Market cap

₹1,14,284 Cr

P/E

25.3×

P/B

4.3×

Dividend yield

ROE

19.7%

ROCE

23.4%

Debt / equity

0.43

OPM

31.2%

EPS (TTM)

₹44.9

Book value

₹269.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Standalone operating margins swing sharply between 8.71% and 53.17% across recent quarters, indicating seasonal concentration or operational lumpiness; the Dec 2025 standalone OPM of 8.71% on ₹2,283.6 Cr revenue suggests profitability weakness that warrants investigation against product mix and one-time items.
High valuation at PE 25.09 leaves limited margin of safety; quarterly EPS volatility (₹2.95–₹17.11) means earnings misses could compress the multiple sharply.
Consolidated margins of 24–34% OPM mask underlying standalone volatility; verify whether margin stability reflects seasonal product mix, subsidiary contribution shifts, or external headwinds.
Generic pharma sector faces endemic pricing pressure in core markets (US, Europe, India); verify pricing trends, competitive win rates and volume momentum to assess revenue sustainability.

Generated analysis · source review pending

Growth drivers

ROE of 19.74% indicates capital is deployed efficiently to generate returns, providing capacity for organic growth or acquisition-led expansion.
Consolidated operating margins spanning 24–34% OPM provide profitability cushion to invest in market access, R&D or geographic expansion without margin compression.
Recent dividend and buyback authorizations (Jul 2026, May 2026) signal management confidence in earnings stability and cash generation, freeing capital from dividend pressure for growth deployment.
Diversified revenue streams shown by consolidated revenues (₹6,000–8,000 Cr) substantially exceeding standalone revenues (₹2,300–3,700 Cr) indicate subsidiary portfolio; verify organic growth and consolidation strategy by segment.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,145.7-4.6%1Y

Quick read

rule-based

Pros

+High return on capital employed of 23.4%
+Healthy operating margin of 31.2%
+Profit CAGR of 18.8% over the last 5 years
+Comfortable interest coverage of 17.3×
+Dividend payout of 26.5% of profit
+High promoter holding of 75% with no pledge

Cons

−Low return on equity of 7% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

67/100

Business quality: 77
Growth: 64

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY NEXT 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	14,253	15,102	15,265	17,237	19,547	23,242	27,148
COGS	4,920	5,210	5,545	6,310	6,228	6,338	7,293
Gross profit	9,333	9,892	9,720	10,927	13,319	16,904	19,856
	6,521	6,504	6,333	6,973	7,817	9,787	11,284
	2,812	3,388	3,387	3,955	5,503	7,116	8,572
OPM %	19.7%	22.4%	22.2%	22.9%	28.2%	30.6%	31.6%
Depreciation	697	725	713	723	764	916	1,408
Interest	342	164	127	130	81	166	439
	-250	-168	2,583	-422	293	50	-7
Profit before tax	1,524	2,332	5,130	2,680	4,950	6,085	6,718
Tax	320	147	512	588	978	1,412	1,595
Tax %	21%	6.3%	10%	21.9%	19.8%	23.2%	23.7%
	1,204	2,185	4,618	2,092	3,973	4,673	5,124
PAT margin %	8.5%	14.5%	30.3%	12.1%	20.3%	20.1%	18.9%
EPS (₹)	11.5	20.8	43.8	19.3	38.1	45	50.1
EPS adjusted (₹)	11.5	20.8	43.8	19.4	1.1	1.5	50.1
	30.5%	16.8%	5.7%	31.1%	7.9%	24.5%	2%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	102	102	102	102	102	102	101	101	101	101
Reserves	6,858	8,642	10,284	10,273	12,890	16,897	17,415	19,729	23,853	27,011
Minority interest	—	—	—	—	1,937	2,054	2,173	2,272	2,405	2,471
	4,945	5,113	7,147	7,041	4,584	4,196	1,163	769	3,170	11,770
	3,315	4,208	5,950	6,270	4,372	4,546	4,905	6,411	7,674	11,055
Total equity & liabilities	15,221	18,065	23,483	23,687	23,885	27,795	25,756	29,281	37,202	52,407
	5,755	6,483	12,164	12,231	12,133	12,253	11,521	12,369	13,134	24,106
CWIP	1,543	1,527	837	742	783	661	1,130	1,112	1,318	1,166
Investments	435	746	674	765	830	3,288	1,547	1,221	6,408	7,540
	7,488	9,310	9,809	9,950	10,139	11,593	11,559	14,580	16,342	19,595
Total assets	15,221	18,065	23,483	23,687	23,885	27,795	25,756	29,281	37,202	52,407

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Pharmaceuticals	22,412.1	7,048.8	35,798.3	11,968.4	23,829.9	29.58
Consumer products	3,954	267.1

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65.5%	65.5%	63.7%	63.4%	68.1%	72.7%	73.1%
EBITDA margin %	19.5%	22.1%	21.9%	22.4%	27.5%	30.4%	31.2%
EBIT margin %	14.6%	17.3%	17.2%	18.2%	23.6%	26.4%	26%
PAT margin %	8.5%	14.5%	30.3%	12.1%	20.3%	20.1%	18.9%
Working capital
Receivable days	94	76	80	94	97	63	73
Inventory days	207	227	245	197	202	227	282
Payable days	—	155	141	123	125	133	142
NWC days	—	148	184	168	175	158	212
Leverage
Current ratio	1.05	1.11	1.55	1.81	2.14	1.89	1.27
Debt to EBITDA	2.53	1.37	1.26	0.3	0.14	0.45	1.39
Debt to equity	0.68	0.35	0.25	0.07	0.04	0.13	0.43
Interest coverage	6.4	16.2	22.5	25.6	60.4	38.7	17.3
Asset turnover	0.6	0.63	0.55	0.67	0.67	0.62	0.52
Return ratios
Return on assets %	5.1%	9.1%	16.6%	8.1%	13.6%	12.6%	9.8%
Return on capital employed %	14.3%	16.9%	15.9%	16.5%	22.2%	24.6%	23.4%
Return on equity %	11.6%	16.8%	27.2%	11.9%	20%	19.5%	18.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.99%	74.99%	74.99%	75%	75%	75.01%
	4.86%	5%	5.72%	5.59%	7.52%	7.53%	7.32%	7.13%	7.34%	7.06%	6.95%	6.88%
	13.09%	13.03%	12.63%	12.64%	10.65%	10.65%	11.01%	11.13%	10.86%	11.09%	11.2%	11.27%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	7.07%	6.99%	6.67%	6.79%	6.85%	6.84%	6.68%	6.75%	6.81%	6.85%	6.85%	6.84%
No. of shareholders	—	—	—	—	—	—	—	—	3,96,105	4,03,266	4,18,314	3,99,251

Promoter holding up 0.03 percentage points since Sep 2023.

1 deal · 30 Aug 2024 – 30 Aug 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Aug 2024	UBS PRINCIPAL CAPITAL ASIA LIMITED	Bulk	NSE	Sell	67,01,664	₹1,128.11	₹756.02 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Pankaj Ramanbhai PatelNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Sharvil Pankajbhai PatelExecutive Director-MD
Mr. Ganesh Narayan NayakExecutive Director
Mr. Mukesh Mangalbhai PatelNon-Executive - Non Independent Director
Mr. Bhadresh Kantilal ShahNon-Executive - Independent Director
Mr. Akhil MonappaNon-Executive - Independent Director
Ms. Konidela UpasanaNon-Executive - Independent Director
Ms. Shelina Pranav ParikhNon-Executive - Independent Director
Mr. Kulin Sanjay LalbhaiNon-Executive - Independent Director
Mr. Tushar ShroffChief Financial Officer
Mr. Dhaval N. SoniCompany Secretary & Compliance Officer

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,162.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,165.1	-49.7	-4.1%	₹1,165.1	10,125	-67	2,365	900
23 Nov 2026	₹1,169.5	-50.1	-4.1%	₹1,169.5	124	+17	81	900
29 Dec 2026	₹1,177.0	-41.4	-3.4%	₹1,180.3	4	+4	6	900

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 18 fund houses

Held by these funds

3.96%

of the company's equity

All mutual funds

5.12%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

89 schemes · 18 fund houses

		Shares
Parag Parikh Flexi Cap Fund	PPFAS Mutual Fund	1.93 Cr	2,236.99	1.52%	1.931%	-0
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	1.04 Cr	1,209.1	2.14%	1.044%	—
Large Cap Fund	ICICI Prudential Mutual Fund	24.81 L	288.12	0.36%	0.249%	-3.22 L
Nifty Next 50 Index Fund	ICICI Prudential Mutual Fund	9.96 L	115.66	1.14%	0.1%	+15,892
ETF NIFTY NEXT 50 JUNIOR BEES	Nippon India Mutual Fund	8.83 L	102.54	1.14%	0.089%	+28,382
Parag Parikh ELSS Tax Saver Fund	PPFAS Mutual Fund	8.13 L	94.39	1.68%	0.081%	-0
MF LARGE & MID CAP FUND	LIC Mutual Fund	4.35 L	50.52	1.58%	0.044%	-0
Nifty Pharma ETF	Nippon India Mutual Fund	4.35 L	50.51	2.87%	0.044%	+7,444

1–8 of 89

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

20

Final dividend24 Jul 2026 · ex-date₹1
Final dividend25 Jul 2025 · ex-date₹11
Final dividend26 Jul 2024 · ex-date₹3
Final dividend28 Jul 2023 · ex-date₹6
Final dividend28 Jul 2022 · ex-date₹2.5
Final dividend28 Jul 2021 · ex-date₹3.5
Interim dividend23 Mar 2020 · ex-date₹3.5
Final dividend25 Jul 2019 · ex-date₹3.5
Dividend dividend31 Jul 2018 · ex-date₹3.5
Interim dividend16 Mar 2017 · ex-date₹3.2
Interim dividend17 Mar 2016 · ex-date₹3.2
Dividend dividend30 Jul 2015 · ex-date₹12
Dividend dividend17 Jul 2014 · ex-date₹9
Interim dividend11 Jun 2013 · ex-date₹7.5
Dividend dividend26 Jul 2012 · ex-date₹7.5
Dividend dividend7 Jul 2011 · ex-date₹6.25
Dividend dividend15 Jul 2010 · ex-date₹5
Dividend dividend16 Jul 2009 · ex-date₹4.5
Dividend dividend10 Jul 2008 · ex-date₹4.5
Dividend dividend12 Jul 2007 · ex-date₹4

1

Board meeting to consider results11 Aug 2026

1

Face value ₹5 → ₹16 Oct 2015 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

46 announcementsExport CSV

1 Oct 2026, 9:35 pmCompany Update

Announcement under Regulation 30 (LODR)-Updates on Joint Venture

Joint Venture PDF

Loading announcements…

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65.5%	65.5%	63.7%	63.4%	68.1%	72.7%	73.1%
EBITDA margin %	19.5%	22.1%	21.9%	22.4%	27.5%	30.4%	31.2%
EBIT margin %	14.6%	17.3%	17.2%	18.2%	23.6%	26.4%	26%
PAT margin %	8.5%	14.5%	30.3%	12.1%	20.3%	20.1%	18.9%
Working capital
Receivable days	94	76	80	94	97	63	73
Inventory days	207	227	245	197	202	227	282
Payable days	—	155	141	123	125	133	142
NWC days	—	148	184	168	175	158	212
Leverage
Current ratio	1.05	1.11	1.55	1.81	2.14	1.89	1.27
Debt to EBITDA	2.53	1.37	1.26	0.3	0.14	0.45	1.39
Debt to equity	0.68	0.35	0.25	0.07	0.04	0.13	0.43
Interest coverage	6.4	16.2	22.5	25.6	60.4	38.7	17.3
Asset turnover	0.6	0.63	0.55	0.67	0.67	0.62	0.52
Return ratios
Return on assets %	5.1%	9.1%	16.6%	8.1%	13.6%	12.6%	9.8%
Return on capital employed %	14.3%	16.9%	15.9%	16.5%	22.2%	24.6%	23.4%
Return on equity %	11.6%	16.8%	27.2%	11.9%	20%	19.5%	18.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

41

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	1,040	₹3.5	56	+16	16
1	0	0	₹66.0	1,050	₹4.4	217	-11	64
3	0	0	₹120.0	1,060	₹5.1	157	+38	65
1	0	0	₹108.9	1,070	₹6.4	168	+11	70
4	0	1	₹95.0	1,080	₹7.3	204	+40	43
0	0	0	₹0.0	1,090	₹9.2	181	+14	39
26	+2	12	₹76.1	1,100	₹10.6	948	-51	228
2	0	0	₹39.0	1,110	₹13.4	184	-42	32

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
1 Oct 2026, 9:35 pm	Company Update Joint Venture	Announcement under Regulation 30 (LODR)-Updates on Joint Venture	PDF
28 Sept 2026, 6:05 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
22 Sept 2026, 4:56 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
11 Sept 2026, 2:35 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
11 Sept 2026, 11:45 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
9 Sept 2026, 1:56 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
5 Sept 2026, 5:13 pm	Company Update General	Settlement Agreement	PDF
1 Sept 2026, 11:04 am	AGM/EGM AGM	Transcript Of The 31St Annual General Meeting	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,312	919	1,282	2,932	3,293	2,078	2,689	3,228	6,777	2,117
	-2,872	-974	-4,239	-1,012	-830	1,154	1,171	-1,475	-8,372	-8,296
	2,316	52	1,885	-1,528	-2,549	-868	-4,400	-1,804	2,031	5,997
Net cash flow	756	-3	—	391	-86	2,364	-540	-52	435	-182
Free cash flow	-1,628	-130	225	2,027	2,439	876	1,658	2,321	5,064	-1,277
CFO / Operating profit %	—	—	—	105.3%	98.6%	62.2%	69.7%	60%	96%	25%

Zydus Lifesciences Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Events

20

1

1

Announcements

20

1

1

Announcements

3

Annual reports

Credit ratings

Investor Presentation and earnings call

41

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Consumer Products · revenue

Zydus Lifesciences Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Fund holders

Documents

Announcements

Events

Dividends20

Board meetings1

Stock splits1

Announcements

Dividends20

Board meetings1

Stock splits1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Announcements

Futures3

Annual reports

Credit ratings

Investor Presentation and earnings call

Option chain41

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Consumer Products · revenue

3

20

1

1

20

1

1

3

41