Zydus Lifesciences (ZYDUSLIFE) Q4 24/25 earnings summary

Executive summary

• Ended FY 2025 with strong double-digit revenue growth and record operating profitability, driven by improved product mix, operating leverage, and robust performance across all business segments.

• Board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, with unmodified audit opinions from Deloitte.

• Q4 FY25 revenues from operations reached Rs. 65,279 mn, up 18% year-over-year, with EBITDA at Rs. 21,255 mn and margin at 32.6%, up 310 bps YoY.

• India branded formulations, consumer wellness, US, and international markets all delivered double-digit growth, with US formulations up 24% YoY and India branded up 11% YoY.

• Final dividend of Rs. 11 per equity share recommended, subject to shareholder approval at the AGM on August 12, 2025.

Financial highlights

• FY 2025 consolidated revenues reached INR 2,232.4 billion, up 19% year-over-year.

• Operating margin for the year was 30.4%, up 290 basis points; EBITDA grew 31% to INR 70.6 billion.

• Net profit (adjusted for exceptional items) rose 22% to INR 47.5 billion.

• Q4 revenues were INR 65.3 billion, up 18% year-over-year and 24% sequentially; EBITDA margin at 32.6%.

• Consolidated net profit for FY25 was Rs. 45,255 million, compared to Rs. 38,595 million in FY24.

Outlook and guidance

• FY 2026 guidance: double-digit consolidated revenue growth, single-digit growth in U.S. business, India to outperform market, and strong scale-up in emerging markets and vaccines.

• EBITDA margin expected to exceed or be around 26% for FY 2026, with R&D expenses at 8% of sales.

• Continued focus on volume expansion, new product launches, and innovation in branded and generics portfolios.

• Ongoing investments in R&D and pipeline development, including specialty and biosimilar products.

• Board expects to close the acquisition of Amplitude Surgical SA, France (85.6% stake) by Q3 CY25, with plans for a subsequent tender offer and delisting.