Zydus Lifesciences Ltd share Price

Zydus is a leading pharma company with family pedigree having a presence in domestic branded formulations, US generics and is in the process of repurposing itself into niche areas of specialty pharmaceuticals, biosimilars and vaccines.
• FY22 revenue break-up – US: 39%, India: 32%, Wellness: 13%, Europe & emerging markets including countries in LatAm, Asia Pacific & Africa: 10%
• Zydus is the fourth largest pharma company in India with 14 brands among Top 300 pharma brands in India and nine with ₹ 100 crore+ sales

India growth impacted by higher Covid base (9% YoY growth ex-Covid, generics portfolio and divested products) while US price erosion eased.
• Sales were up 2% YoY to ₹ 4073 crore (ex-Covid: up 11% YoY)
• EBITDA was at ₹ 833 crore, down 14% YoY with margins at 20.5%
• Adjusted PAT was at ₹ 529 crore (down 11% YoY)

Q4FY23 Quarterly & FY23 Annual Result Announced for Zydus Lifesciences Ltd.

Pharmaceuticals firm Zydus Lifesciences announced Q4FY23 & FY23 results:

Q4FY23:

• Revenue from Operations at Rs 50,106 million, up 32% over last year.
• Research & Development (R&D) investments for the quarter stood at Rs 3,541 million (7.1% of revenues).
• EBITDA for the quarter was Rs 12,556 million, up 75% YoY. EBITDA margin for the quarter was 25.1% against 18.9% in Q4 FY22. Adjusted for one-time COVID related inventory provision of Rs 1,435 million made in Q4 FY22, EBITDA grew by 46% YoY.
• Net Profit adjusted for the exceptional expense in Q4 FY23 was Rs 8,979 million, up 126% YoY. Excluding the exceptional expense, one-time COVID related inventory provision and profit/ (loss) of discontinued operations, net profit was up by 71% YoY.
• Capex (organic) for the quarter was Rs 2,040 million.

FY23:

• Revenue from Operations at Rs 1,72,374 million, up 14% over last year.
• Research & Development (R&D) investments for the year stood at Rs 12,363 million (7.2% of revenues).
• Reported EBITDA for the year was Rs 38,599 million, up 16% YoY. EBITDA margin for the year was 22.4% against 22.1% last year. Adjusted for COVID related inventory provision made in FY23 and FY22, EBITDA margin for the year was 23.1% against 23.3% last year.
• Net Profit adjusted for the exceptional items and profit/ (loss) of discontinued operations, was Rs 25,691 million, up 19% YoY.
• Capex (organic) for the year was Rs 9,579 million.
• Net Debt to Equity ratio as on 31st March, 2023 was -0.03x while Net Debt to EBITDA stood at -0.14x at the end of March, 2023. Net Cash (negative Net Debt) as on March 31, 2023 was Rs 5,461 million.

We are delighted to have maintained growth momentum across all our key businesses throughout the year, ending the fiscal year on a strong note with steady improvement in profitability and balance sheet health. We are well poised to maintain growth momentum, with India geography likely to hold double-digit growth, the US business continuing to leverage our robust product pipeline and agile supply chain and scale-up of our emerging market business. We are committed to upholding high quality management standards and working constantly to enhance them. We are advancing our innovation efforts with an aim to serve the patients’ needs across markets and improving their health outcomes. Dr. Sharvil Patel, Managing Director - Zydus Lifesciences Limited

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