Zydus Lifesciences (ZYDUSLIFE) Q3 25/26 earnings summary

Executive summary

• Achieved strong double-digit revenue and operating profit growth in Q3 FY26, with all key businesses outperforming expectations and robust growth across all business segments.

• Strategic acquisitions and disciplined M&A, including Comfort Click and Amplitude, have expanded growth engines and diversified the business.

• Focused on innovation, supply chain resilience, and patient-centric outcomes, with robust R&D investments and new product launches across geographies.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on February 9, 2026.

• All major business lines—India, North America, International Markets, and Consumer Wellness—delivered double-digit growth.

Financial highlights

• Consolidated revenues reached INR 69,759 million, up 30% year-over-year for Q3 FY26.

• EBITDA stood at INR 18,164 million, with a margin of 26.5%, up 20 bps year-over-year.

• Adjusted net profit was INR 11,109 million, up 9% year-over-year, excluding exceptional labor code and acquisition costs.

• Consumer wellness revenues surged 113% YoY to INR 9,642 million, reflecting full consolidation of Comfort Click.

• Gross margin improved to 73.2% in Q3 FY26 from 69.9% in Q3 FY25.

Outlook and guidance

• Expects continued double-digit growth in India and international markets, with 20%+ growth in emerging markets and Europe.

• U.S. business projected to maintain growth despite loss of Revlimid, driven by new launches and volume expansion.

• EBITDA margin guidance for Q4 FY26 is 23%+, even with lower Revlimid sales and lower-margin consumer business.

• Preparing to file NDA for Saroglitazar Magnesium with the USFDA in the current quarter.

• R&D spend guided at 7.5%-8.8% of revenue for FY26.