Zydus Wellness reported its highest-ever Q1 net sales growth of 20 per cent year-over-year, reaching Rs. 8,391 million for the quarter ending June 30, 2024.
The company in a press statement on Saturday informed that it also saw a notable increase in EBIDTA by 33.3 per cent year-over-year to Rs. 1,553 million, and net profit surged by 33.8 per cent to Rs. 1,477 million. Adjusted PAT grew by 39.6 per cent year-over-year after accounting for exceptional items and one-time deferred tax assets.
The company achieved a significant milestone by repaying its debt in full, thereby de-leveraging its balance sheet while maintaining a robust cash position at the end of the quarter.
Zydus Wellness’s flagship brands demonstrated exceptional performance. The Glucose powder category, buoyed by a prolonged summer, grew by 21.3 per cent. Glucon-D maintained its leading position with a 59.7 per cent market share, and its brand penetration increased by 160 basis points year-over-year.
In the sugar substitute category, Sugar-Free retained its dominant market share of 95.9 per cent, with the category growing by 5.8 per cent. The introduction of Sugar-Free Gold+, a new formulation featuring sucralose and chromium, and I’Mlite, a stevia-blended sugar alternative, received positive market feedback.
The Everyuth brand saw strong growth, particularly in the Peel-off category, which grew by 21.1 per cent, with Everyuth Peel-off maintaining a market share of 78.2 per cent. The brand also expanded its facial cleansing range with new products including the Everyuth pink clay & charcoal-infused face wash, scrub, and face pack.
Nycil leveraged summer demand to achieve an increased household penetration rate, maintaining its leadership with a 34.9 per cent market share in the prickly heat powder category. The brand also launched a new range of soaps internationally.
In the Health Foods Drink segment, Complan registered a growth of 4.3 per cent, with the brand’s market share standing at 4.3 per cent. Additionally, Complan entered the immunity-boosting beverage market with the launch of Complan Immuno-Gro in select states.
Zydus Wellness also introduced Nutralite professional mayonnaise with a tandoori range and Nutralite retail mayonnaise with carrot and cucumber sandwich spread developed through in-house R&D efforts.
