Zydus Wellness reported a decent set of numbers for the quarter. Revenue grew by 9.8% yoy to Rs145.4cr. The company reported EBITDA growth of 13.6% yoy to Rs37.7cr. Other expenses for the quarter were down by 381bps yoy, however, the benefit of the same was partially offset by higher advertisement costs (238 bps yoy). Thus, EBITDA saw a growth of 13.6% yoy with an EBITDA margin expansion of 86bps yoy to 25.9%. PAT stood at Rs40.4cr, its growth restricted to 9.9% yoy due to higher tax outgo.
Sugar Free, India's largest selling sugar substitute, maintained its number one position with a market share of 93.9% for the quarter.
EverYuth Scrub and EverYuth PeelOff Mask also successfully maintained their number one positions in their respective categories with a market share of 32.5% (up 30 bps yoy) and 84.9%, respectively.
During the quarter, the company launched Sugarlite, a pioneer in its category which is from Zydus Wellness’ research pipeline. Sugarlite is 100% natural blended sugar that has 50% less calories than normal sugar.
Nutralite witnessed growth in volumes during the quarter, largely led by the institutional segment.
During the quarter, the company announced successful completion of the acquisition of Heinz India Private Limited (“Heinz India”), the subsidiary of Kraft Heinz. With the addition of iconic brands such as Complan, Nycil, and GluconD, Zydus Wellness is looking at further consolidating its position as a leading player in the wellness domain.
Zydus Wellness Ltd is currently trading at Rs. 1,310.50, down by 11.65 points or 0.88% from its previous closing of Rs. 1,322.15 on the BSE.
The scrip opened at Rs. 1,328.25 and has touched a high and low of Rs. 1,333.90 and Rs. 1,310 respectively. So far 8,656 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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