Zydus Lifesciences Hits Record High with 5% Rally on Strong Q4FY24 Earnings

Zydus Lifesciences shares hit a record high of Rs 1,104.45 after reporting nearly 300% YoY net profit growth to Rs 1,182 crore for Q4FY24. The stock surged 89% in seven months, driven by strong EBITDA growth.
Zydus Lifesciences Hits Record High with 5% Rally on Strong Q4FY24 Earnings

Shares of Zydus Lifesciences (formerly known as Cadila Healthcare) soared to a record high of Rs 1,104.45, hitting the 5% upper circuit in Saturday’s special trading session. 

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This surge followed the company’s impressive Q4FY24 results, where net profit grew nearly 300% year-on-year (YoY) to Rs 1,182 crore, compared to Rs 296.6 crore in Q4FY23. Over the past seven months, the stock has risen by 89%.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a 30% YoY increase, reaching Rs 1,630.5 crore in the recently concluded quarter. The EBITDA margin improved by 440 basis points (bps) to 29.5%. Revenue from operations also grew by 10% YoY, totaling Rs 5,533.8 crore.

Zydus Lifesciences attributed its strong performance to the growth in its India branded formulations business, driven by key pillar brands and innovative products. In the consumer wellness segment, the personal care segment continued its growth momentum, while the food and nutrition segment witnessed recovery.

The management emphasized its focus on patient centricity, operational efficiency, strategic investments, and the execution of a diversified product portfolio as key factors contributing to the significant improvement in profitability. They expressed confidence in maintaining strong performance and further improving EBITDA margins in fiscal year 2024-25.

Zydus Lifesciences’ robust balance sheet, with over Rs 3,000 crore in cash, positions it well for mergers and acquisitions (M&A) activities. Additionally, a clean compliance track record is expected to help the company seize short-term opportunities in the US market.

Overall, Zydus Lifesciences’ strong financial performance and strategic initiatives have bolstered investor confidence, reflected in the significant stock price increase and positive market outlook.

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