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India
Reported ownership for FY2027-Q1 as of 2026-06-30.
As of 06 Nov 2026, 03:30 pm
For the quarter ended September 30, 2026, revenue from operations rose 29.2% to ₹7,909.6 crore, driven by international markets and a 76% surge in consumer wellness sales. However, consolidated net profit fell 26.6% to ₹925.5 crore because total expenses increased sharply to ₹6,806.6 crore, including ₹657.3 crore in research and development spending.
The company completed the acquisition of Sterling Biotech’s API Business on November 2, 2026, and extinguished 8,730,158 equity shares via buyback in June 2026 for ₹11,063 million. Pipeline updates include US FDA acceptance of a pembrolizumab biosimilar application and Saroglitazar progressing through Phase III trials.
As of 06 Nov 2026, 03:30 pm
Recent drawdown and price variability remain within the producer's contained-risk thresholds.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹6,123 crore | PEAK₹8,017 crore | ₹7,910 crore |
| Expenses | ₹4,511 crore | ₹6,798 crore | PEAK₹6,807 crore |
| Finance Costs | ₹101 crore | ₹156 crore | PEAK₹187 crore |
| Profit Before Tax | PEAK₹1,687 crore | ₹1,307 crore | ₹1,234 crore |
| Tax Expense | PEAK₹454 crore | ₹354 crore | ₹334 crore |
| Profit Loss For Period From Continuing Operations | PEAK₹1,233 crore | ₹952 crore | ₹900 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | PEAK₹12.51 per share | ₹9.35 per share | ₹9.28 per share |
Revenue from operations rose 29.2% year on year to ₹7,909.6 crore in Q2 FY2026-27, but eased 1.3% from the June quarter. Profit for the period fell 25.1% year on year to ₹927.7 crore, while operating cash flow of ₹3,162.3 crore was more than offset by investing outflows, leaving free cash flow negative at ₹967.1 crore.
Revenue from operations was ₹7,909.6 crore, compared with ₹8,017 crore in Q1 FY2026-27 and ₹6,123.2 crore in Q2 FY2025-26. The sequential decline followed three quarters of growth, from ₹6,864.5 crore in Q3 FY2025-26 to ₹7,587 crore in Q4 and ₹8,017 crore in Q1 FY2026-27.
Total expenses were ₹6,806.6 crore, marginally above ₹6,798.3 crore in Q1 and 50.9% higher than ₹4,510.6 crore a year earlier.
Finance costs increased 19.9% sequentially to ₹187 crore from ₹156 crore in Q1 FY2026-27. Noncurrent borrowings were ₹4,106.2 crore at 30 September 2026, up from ₹3,188 crore at 31 March 2026.
Basic and diluted EPS from continuing operations were both ₹9.28 in Q2 FY2026-27, compared with ₹9.35 in Q1 and ₹12.51 in Q2 FY2025-26. Trailing twelve-month EPS was ₹41.64.
Revenue remained well above its year-earlier level but slipped sequentially, while profit and EPS declined both year on year and from Q1. Negative free cash flow, alongside higher capital work in progress and noncurrent investments, puts cash generation and funding alongside earnings as key features of the quarter.
Exchange disclosures and regulatory announcements for Zydus Lifesciences.
Zydus Lifesciences Limited disclosed the transcript of its Q2 FY27 post-results earnings call held on November 4, 2026. Management reported Q2 consolidated revenue of ₹79.1 billion, up 29% year on year, EBITDA of ₹18.9 billion, net profit of ₹9.3 billion, and a 24% EBITDA margin; it maintained FY27 guidance of a 24% EBITDA margin. The call also covered business performance, product and pipeline developments, regulatory matters, investments, and acquisition-related updates.
Zydus Therapeutics, a wholly owned subsidiary of Zydus Lifesciences Limited, reported Phase 2b EVIDENCES X trial results for investigational saroglitazar in 189 adults with biopsy-confirmed MASH and stage F2–F3 fibrosis. After 52 weeks, the primary endpoint—resolution of steatohepatitis without worsening of fibrosis—was achieved by 39.1% of participants receiving saroglitazar magnesium 4 mg, 32.4% receiving 2 mg, and 13.7% receiving placebo. The results were scheduled for presentation as a late-breaking oral presentation at The Liver Meeting 2026. Saroglitazar remains investigational for MASH; its safety and effectiveness for this use have not been established.
Zydus Lifesciences Limited filed a newspaper publication with the NSE and BSE on November 5, 2026, containing its Consolidated Unaudited Financial Results for the quarter and half year ended September 30, 2026. The results were published in the Financial Express. For the half year ended September 30, 2026, the company reported total income from operations of INR 159 million (up from INR 126.969 million in the prior period), net profit after tax and minority interest of INR 18.557 million (down from INR 24.582 million), and earnings per share of INR 18.84 (down from INR 27.11).
Zydus Lifesciences Limited has notified the BSE and NSE that it will participate in the Avendus Spark Investor Conference scheduled for November 17, 2026, in Mumbai. The announcement was issued by Company Secretary Dhaval N. Soni on November 5, 2026.
Zydus Lifesciences Limited has notified the BSE and NSE that it will participate in the JM Financial 17th Annual Flagship Conference, 'India Xchange 2026', scheduled to take place in Mumbai on November 18, 2026.
Zydus Lifesciences Limited’s Board of Directors approved the unaudited financial results for the quarter and half year ended September 30, 2026, on November 4, 2026. The filing discloses that the Company completed the acquisition of the API Business of Sterling Biotech Limited (SBL) on November 2, 2026. Consolidated net profit for the half year ended September 30, 2026, was INR 50,947 Million, with consolidated revenue from operations at INR 271,484 Million. The Board also noted the completion of a share buyback extinguishing 8,730,158 equity shares in June 2026 for an aggregate payment of INR 11,063 Million.
Zydus Lifesciences Limited’s Board approved, on November 4, 2026, the appointment of Walker Chandiok & Co LLP (Firm Registration No. 001076N/N500013) as statutory auditors for a first five-year term, subject to member approval. The term is to begin at the conclusion of the 32nd AGM for financial year 2026-2027 and continue until the conclusion of the 37th AGM for financial year 2031-2032. The appointment follows the completion of Deloitte Haskins and Sells LLP’s second consecutive five-year term, after which Deloitte will cease to hold office under mandatory auditor rotation requirements.
Zydus Lifesciences Limited has informed the Exchange regarding Change in Auditors of the company. |SUBJECT: Change in Auditors
Recent market and company developments associated with Zydus Lifesciences.
Zydus Lifesciences reported that its investigational drug saroglitazar achieved higher rates of steatohepatitis resolution without worsening fibrosis compared to placebo in a Phase 2b trial involving adults with MASH and stage F2–F3 fibrosis. The study found that 39.1% of patients on the 4 mg dose and 32.4% on the 2 mg dose met the primary endpoint, versus 13.7% on placebo, while secondary endpoints for fibrosis improvement did not reach statistical significance. These results will be presented at The Liver Meeting 2026, with researchers noting the drug's potential to address both liver diseas
Prabhudas Lilladher has issued an 'Accumulate' recommendation for Zydus Lifesciences, setting a price target of Rs 1191. The note suggests the stock is positioned for potential upside from its current levels.
Choice Institutional Equities has issued a 'Buy' recommendation for Zydus Lifesciences, setting a target price of Rs 1400. The note was published by Moneycontrol on November 5, 2026.
Zydus Lifesciences reported a 26.6% decline in consolidated net profit to ₹925.5 crore for the September quarter, weighed down by a sharp rise in total expenses to ₹6,806.6 crore. Despite the profit drop, revenue from operations increased by 29.2% to ₹7,909.6 crore, with the pharmaceuticals segment accounting for 83% of sales.
Zydus Lifesciences reported a 29% year-on-year revenue increase to Rs 7,909 crore for Q2FY27, driven by strong performance in international markets and a 76% surge in consumer wellness sales. However, net profit fell 27% to Rs 925 crore and EBITDA declined 6%, primarily due to rising expenses including Rs 657.3 crore in research and development spending. The company continues to advance its specialty drug pipeline, with the US FDA accepting a pembrolizumab biosimilar application and Saroglitazar progressing through Phase III trials.
Nuvama Wealth identifies improving risk-reward prospects for Indian equities in Samvat 2083, citing attractive valuations, extreme bearish foreign-investor positioning, and potential global catalysts. The brokerage's Diwali stock picks include Adani Energy Solutions, Coforge, KDDL, Punjab National Bank, and Zydus Lifesciences, selected based on their technical structures and potential for further gains.
Zydus Lifesciences reported a 27% decline in its Q2 net profit, attributing the drop to expenses outpacing revenue growth. Consequently, the company's shares fell by 3.5%.
Zydus Lifesciences reported a 26.6% year-on-year decline in consolidated net profit to Rs 925.5 crore for the July-September quarter of FY27, despite a 29% revenue growth to Rs 7,910 crore. The company's EBITDA margin contracted significantly to 23.95% from 32.9% in the prior year period, while research and development investment accounted for 8.3% of revenue. Following the earnings release, Zydus Lifesciences shares fell over 4%, trading at Rs 1,182.05.
Comprehensive Section Breakdown for Zydus Lifesciences
Strategic Vision: Global healthcare provider developing and marketing pharmaceutical products.
• Fully integrated global healthcare provider
• Comprehensive capabilities across the pharmaceutical value chain
• Significant global manufacturing footprint
Profit before exceptional items and tax was ₹1,232.9 crore, down 6.9% from Q1 FY2026-27 and 28.4% from Q2 FY2025-26. A ₹1.3 crore exceptional gain, compared with an ₹18.2 crore charge in Q1, brought profit before tax to ₹1,234.2 crore, down 5.5% sequentially and 26.9% year on year.
Tax expense was ₹334 crore, versus ₹354.2 crore in Q1. Current tax rose to ₹498.7 crore from ₹375.9 crore, while deferred tax was a credit of ₹164.7 crore, compared with a credit of ₹21.7 crore in Q1. Profit from continuing operations was ₹900.2 crore. Including ₹27.5 crore of share of profit from associates and joint ventures, total profit for the period was ₹927.7 crore: ₹925.5 crore attributable to owners of the parent and ₹2.2 crore to non-controlling interests.
Cash flow from operating activities was ₹3,162.3 crore in Q2, while cash flow from investing activities was negative ₹4,129.4 crore. Free cash flow was negative ₹967.1 crore, and financing cash flow was positive ₹774.1 crore.
At 30 September 2026, property, plant and equipment stood at ₹9,276.2 crore, compared with ₹9,230.7 crore at 31 March 2026. Capital work in progress increased to ₹1,635.8 crore from ₹1,165.7 crore, while noncurrent investments rose to ₹3,451.9 crore from ₹597.5 crore.
Total assets were ₹55,606.9 crore at 30 September 2026, up from ₹52,406.6 crore at 31 March 2026. Total equity was ₹30,322.8 crore; equity attributable to owners of the parent was ₹27,817.3 crore, compared with ₹27,111.4 crore at 31 March.
Inventories increased to ₹6,882.2 crore from ₹5,628.1 crore, while current trade receivables declined to ₹4,380.7 crore from ₹5,415.7 crore. Cash and cash equivalents were ₹669.2 crore, down from ₹855.2 crore, and current investments fell to ₹3,664.1 crore from ₹5,775.8 crore. Current borrowings were ₹9,143.4 crore, compared with ₹8,581.5 crore at 31 March; noncurrent borrowings were ₹4,106.2 crore, versus ₹3,188 crore.
Category: Manufacturing
Engaged in research, development, manufacturing, and marketing of active pharmaceutical ingredients, formulations, vaccines, biosimilars, and complex products.
Key Products & Services: Exemptia • Vaxiflu-4 • TwinrabTM • Lipaglyn
Category: Manufacturing
Develops and markets products for the animal health sector.
Category: Manufacturing
Offers a range of wellness products aimed at improving overall health.
Core Thesis: The company integrates research, development, manufacturing, and marketing across a diverse pharmaceutical value chain to deliver healthcare solutions.
• Integrated Value Chain: Operations span active pharmaceutical ingredients, formulations, vaccines, biosimilars, and complex products. • Innovation Focus: Emphasizes bringing new pharmaceutical solutions and novel therapies to market. • Global Manufacturing Footprint: Maintains over 30 manufacturing plants across India, Brazil, and the USA to support global distribution.