Zydus Wellness Achieves Record Q1 Results with 20% Sales Growth

On August 2, 2024, Zydus Wellness Ltd. reported its highest-ever first-quarter net sales, which increased by 20% to ₹8,391 million compared to the same period last year. The company’s EBITDA grew by 33.3% year-over-year to ₹1,553 million.

Net profit for the quarter rose by 33.8% to ₹1,477 million. Adjusted PAT, which excludes exceptional items and one-time deferred tax assets from the previous year’s comparable quarter, increased by 39.6%. Additionally, Zydus Wellness fully repaid its debt during the quarter, de-leveraging its balance sheet while maintaining a strong cash position.

Due to a hot summer, the glucose powder category grew by 21.3%, with Glucon-D holding a 59.7% market share and increasing its market penetration by 1.6%.

In the sugar substitute market, Sugar-Free led with a 95.9% market share and a 5.8% category growth. Sugar-Free Green saw strong growth, and the company introduced Sugar-Free Gold+, a new aspartame-free product with sucralose and chromium to help manage blood glucose levels. They also launched I’Mlite, a sugar-stevia blend with 50% fewer calories than regular sugar, which has been well received.

The Everyuth brand holds a 6.6% market share in facial cleansing. Everyuth Peel-off, with a 21.1% growth, continues to lead its category with a 78.2% market share, up 2 percentage points from last year. Everyuth Scrub also leads with a 46.2% market share, up 3.7 percentage points. The company expanded its facial cleansing range with new products like the Everyuth pink clay & charcoal face wash, scrub, and face pack.

Nycil saw a boost in sales due to summer demand and maintained its top spot with a 34.9% market share in prickly heat powder. The brand also introduced a new range of soaps in international markets.

The Health Foods Drink Category grew by 4.3%, with Complan holding a 4.3% market share. Complan also entered the immunity-boosting beverage market by launching Complan Immuno-Gro in select states.

About Zydus Wellness Ltd

Zydus Wellness is an integrated consumer company that develops, produces, markets, and distributes health and wellness products. Its product range features well-known brands like Glucon-D, Complan, Sugar-Free, Nycil, Everyuth, and Nutralite.

On August 02, 2024, Zydus Wellness Ltd’s share price opened at ₹2,318.00, touching the day’s high at ₹2,379.00, as of 03:03 PM on the NSE.

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