ZYDUSLIFE
Zydus Lifesciences share price & financials
- Price
- ₹1,070.8
- Market cap
- ₹1.1L Cr
- Sector
- Healthcare
- Calls analysed
- 6
Zydus Lifesciences Limited Q1 FY27
What went well
- Consolidated revenues grew 22% YoY to ₹80.2 billion, demonstrating strong double-digit growth.
- EBITDA margin remained robust at 24.1%, contributing to an EBITDA of ₹19.3 billion.
- India branded formulations business outperformed the market with a strong 20% YoY growth.
What to watch
- Operating costs saw a sharp quarter-on-quarter increase, primarily due to acquisition-driven impacts (Zylidac, Assertio) and freight expenses.
- Gross margin experienced a dip due to higher costs associated with the Mirabegron settlement with the Innovator.
What Zydus Lifesciences Limited does
Zydus Lifesciences (formerly Cadila Healthcare) is an Ahmedabad-based, vertically integrated pharmaceutical company that discovers, manufactures and markets generic and branded formulations, biosimilars, vaccines, active pharmaceutical ingredients (APIs) and consumer wellness products. It earns from branded formulations in India, generic formulations in the US/North America, international and emerging markets, APIs, and a growing consumer wellness and med-tech business. It is the 5th largest generic company in the US by prescriptions and runs an integrated R&D-to-manufacturing footprint across India and overseas.
Segments
- India Formulations
- US / North America Formulations
- International Markets Formulations
- Consumer Wellness
- APIs
- Biosimilars & Med-tech
- Manufacturing facilities (globally)
- 39
- R&D centres
- 7
- R&D scientists
- 1,500+
- US generic market rank (by prescriptions)
- 5th largest
- US product families where it is a Top-3 player
- Among top-3 in majority of US product families
- Cumulative DMFs filed with US FDA (APIs)
- 147
Guidance record · Q1 FY27
what the last two calls moved 21 tracked 3 delivered 4 missed 14 open- FY27 R&D Spend as % of Revenue went quiet said Q4 FY26 Promised: 8% Q1 FY27: No update provided on the R&D spend percentage guidance for FY27.
- Saroglitazar US Launch delayed said Q1 FY26 Promised: FY27 Q1 FY27: Launch delayed to FY28 (April launch). USFDA has granted priority review for PBC indication.
- FY26 EBITDA Margin delivered said Q4 FY25 Promised: around 26% Q4 FY26: Achieved. Full year FY26 EBITDA margin reported at 31.2%.
All 21 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 11.0%, net profit down 11.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,621 | 2,516 | 5,820 | 2,588 | 2,871 +10% | 2,284 −9% | 3,741 −36% | 2,872 +11% |
| EBITDA | 942 | 648 | 3,773 | 585 | 1,152 +22% | 199 −69% | 1,989 −47% | 587 +0% |
| Net profit | 790 | 471 | 2,814 | 385 | 1,157 +46% | 296 −37% | 1,722 −39% | 340 −12% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +7.6% 1Y
1Y: ₹1,039.6 on 10 Sept 2025 → ₹1,119.1. High ₹1,205 (12 Aug 2026), low ₹860.6 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +6.4%
- 11 Aug
- Q4 FY26
- +3.3%
- 24 May
- Q3 FY26
- −3.9%
- 10 Feb
- Q2 FY26
- −3.6%
- 6 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 13.1% a year over 3 years, FY23 to FY26. Operating margin widened to 34.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹17.5k Cr | ₹10.8k Cr | ₹15.1k Cr | ₹11.5k Cr |
| Operating profit | ₹3.9k Cr | ₹4.1k Cr | ₹7.7k Cr | ₹3.9k Cr |
| Operating margin | 22.1% | 37.5% | 51.2% | 34.2% |
| Interest | ₹130 Cr | ₹391 Cr | ₹463 Cr | ₹484 Cr |
| Depreciation | ₹724 Cr | ₹505 Cr | ₹525 Cr | ₹561 Cr |
| Net profit | ₹2.1k Cr | ₹3.4k Cr | ₹5.8k Cr | ₹3.6k Cr |
| Net margin | 12.0% | 31.8% | 38.2% | 31.0% |
| Cash from operations | ₹1.1k Cr | ₹2.0k Cr | ₹3.1k Cr | ₹2.2k Cr |
| Free cash flow | ₹420 Cr | ₹1.4k Cr | ₹2.3k Cr | ₹1.4k Cr |
| ROCE | 14.0% | 23.0% | 31.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹102 Cr | ₹102 Cr | ₹101 Cr | ₹101 Cr | ₹101 Cr | ₹101 Cr |
| Reserves | ₹12.6k Cr | ₹13.1k Cr | ₹13.5k Cr | ₹15.6k Cr | ₹25.2k Cr | ₹23.6k Cr |
| Borrowings | ₹3.9k Cr | ₹2.7k Cr | ₹4.8k Cr | ₹6.2k Cr | ₹9.6k Cr | ₹7.4k Cr |
| Other liabilities | ₹1.8k Cr | ₹1.8k Cr | ₹2.1k Cr | ₹2.2k Cr | ₹12.0k Cr | ₹2.8k Cr |
| Total liabilities | ₹18.5k Cr | ₹17.7k Cr | ₹20.6k Cr | ₹24.1k Cr | ₹46.9k Cr | ₹33.9k Cr |
| Fixed assets | ₹4.1k Cr | ₹4.3k Cr | ₹4.2k Cr | ₹4.4k Cr | ₹23.1k Cr | ₹5.1k Cr |
| Capital work in progress | ₹570 Cr | ₹384 Cr | ₹739 Cr | ₹634 Cr | ₹1.2k Cr | ₹621 Cr |
| Investments | ₹6.5k Cr | ₹5.1k Cr | ₹4.9k Cr | ₹7.3k Cr | ₹5.9k Cr | ₹11.5k Cr |
| Other assets | ₹7.3k Cr | ₹7.9k Cr | ₹10.8k Cr | ₹11.8k Cr | ₹16.8k Cr | ₹16.7k Cr |
| Total assets | ₹18.5k Cr | ₹17.7k Cr | ₹20.6k Cr | ₹24.1k Cr | ₹46.9k Cr | ₹33.9k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −0.24 pp while DIIs added +0.18 pp. The shareholder count grew 3% to 3,99,251.
- Promoters
- 75.0%
- FIIs
- 6.9%
- DIIs
- 11.3%
- Public
- 6.8%
Since Jun 2025
- FIIs −0.24 pp
- DIIs +0.18 pp
- Public +0.09 pp
How it drifted, 12 quarters
Over this window FIIs went from 4.8% to 6.9% — +2.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, FIIs 4.8%, DIIs 13.0%, Government 0.1%, Public 7.1%.Dec '23: Promoters 75.0%, FIIs 5.0%, DIIs 13.0%, Government 0.1%, Public 7.0%.Mar '24: Promoters 75.0%, FIIs 5.7%, DIIs 12.6%, Government 0.1%, Public 6.7%.Jun '24: Promoters 75.0%, FIIs 5.6%, DIIs 12.6%, Government 0.1%, Public 6.8%.Sep '24: Promoters 75.0%, FIIs 7.5%, DIIs 10.6%, Government 0.1%, Public 6.8%.Dec '24: Promoters 75.0%, FIIs 7.5%, DIIs 10.6%, Government 0.1%, Public 6.8%.Mar '25: Promoters 75.0%, FIIs 7.3%, DIIs 10.9%, Government 0.1%, Public 6.7%.Jun '25: Promoters 75.0%, FIIs 7.1%, DIIs 11.1%, Government 0.0%, Public 6.7%.Sep '25: Promoters 75.0%, FIIs 7.3%, DIIs 10.9%, Public 6.8%.Dec '25: Promoters 75.0%, FIIs 7.1%, DIIs 11.1%, Public 6.9%.Mar '26: Promoters 75.0%, FIIs 7.0%, DIIs 11.2%, Public 6.9%.Jun '26: Promoters 75.0%, FIIs 6.9%, DIIs 11.3%, Public 6.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Parag Parikh Flexi Cap Fund Mutual fund +0.06 pp 2.02% held
- Kotak Flexicap Fund Mutual fund +0.06 pp 1.19% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Zydus Lifesciences Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Zydus Family Trust (Pankaj R. Patel, Pritiben P. Patel and Sharvil P. Patel-Trustees) | 74.98% | unchanged |
| Life Insurance Corporation Of India Insurer | 5.41% | −0.15 pp |
| Parag Parikh Flexi Cap Fund Mutual fund | 2.02% | +0.06 pp |
| Kotak Flexicap Fund Mutual fund | 1.19% | +0.06 pp |
| Arati Rajiv Mehta | 0.01% | unchanged |
| Shivani Pankajbhai Patel | 0.00% | unchanged |
| Pripan Investment Private Limited | 0.00% | unchanged |
| Pankaj Ramanbhai Patel HUF (Pankaj Ramanbhai Patel-Karta) | 0.00% | unchanged |
| Taraben Patel Family Will Trust (Mr.Pankaj R Patel and Dr. Sharvil P Patel-Trustees) | 0.00% | unchanged |
| Cadila Laboratories Private Limited | 0.00% | unchanged |
| Ritaben Yatinbhai Desai | 0.00% | unchanged |
| Ayushi Rajiv Mehta jointly with Arati Rajiv Mehta | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in ZYDUSLIFE
Filings to Aug 2026
0 new, 10 added, 4 trimmed, 1 sold out — net −5.19 L shares (−12.9%).
- Held by funds
- ₹403 Cr
- 17 schemes
- Biggest holder
- Nippon India ETF Nifty Next 50 Junior BeES
- ₹103 Cr · 1.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹103 Cr | +0.28 L | Sep '23 |
| HDFC Pharma and Healthcare Fund HDFC Mutual Fund | ₹62 Cr | held | May '26 |
| Nippon India Nifty Pharma ETF Nippon India Mutual Fund | ₹51 Cr | +0.07 L | Aug '21 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹39 Cr | held | Jun '24 |
| SBI Nifty Next 50 ETF SBI Mutual Fund | ₹35 Cr | +0.01 L | Sep '23 |
| Nippon India Nifty Alpha Low Volatility 30 Index Fund Nippon India Mutual Fund | ₹33 Cr | −0.03 L | Jun '26 |
| SBI Nifty Next 50 Index Fund SBI Mutual Fund | ₹27 Cr | +0.09 L | Sep '23 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹22 Cr | +0.18 L | Sep '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
10 added, 4 trimmed — net −5.19 L shares (−12.9%)
- Funds are sitting on
- +16%
- vs est. average cost
- Held by funds
- ₹403 Cr
- 17 schemes · ≈ 0.34% of the company
- Biggest holder
- Nippon India ETF Nifty Next 50 Junior BeES
- ₹103 Cr · 1.1% of that fund
- Longest holder
- Nippon India Nifty Pharma ETF
- 5y 1m · since Aug '21
Shares held by these funds −39%
Aug '23 40.38 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Zydus Lifesciences Limited
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