Zydus Lifesciences records revenue growth of Rs 195,474 million in FY24

Zydus Lifesciences reports stellar financial performance for Q4 & FY24 with significant increases in revenue, EBITDA, and net profit; the board recommends a 300% dividend

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New Delhi: In Q4 FY24, Zydus Lifesciences has reported a revenue from operations of Rs. 55,338 million, marking a 10% increase compared to the last year. This growth was supported by significant investments in Research & Development (R&D), which stood at Rs. 3,516 million, accounting for 6.4% of the revenues.
The company’s EBITDA for the quarter reached Rs. 16,305 million, showing a remarkable 30% YoY increase, with an EBITDA margin of 29.5%, an improvement of 440 basis points (bps). Net profit for Q4 FY24 surged by an astounding 299% YoY to Rs. 11,823 million. Additionally, the company’s organic capital expenditure (capex) for the quarter was Rs. 2,126 million.
For the entire fiscal year, Zydus reported revenue from operations of Rs. 195,474 million, a 13% increase over the previous year. The company’s R&D investments for FY24 were Rs. 13,096 million, representing 6.7% of revenues. EBITDA for the year was Rs. 53,843 million, up 40% YoY, with an EBITDA margin of 27.5%, reflecting a 510 bps improvement.
Zydus achieved a net profit of Rs. 38,595 million for FY24, a 97% increase compared to the previous year. The company’s organic capex for the year stood at Rs. 8,628 million. Financially robust, Zydus ended FY24 with a net debt to equity ratio of -0.04x and net debt to EBITDA ratio of -0.16x, resulting in a net cash position of Rs. 8,561 million as of March 31, 2024.
The Board of Directors approved the audited results, highlighting substantial growth and strategic investments, and recommended a 300% dividend.
Dr. Sharvil Patel, Managing Director of Zydus Lifesciences, stated, “We are happy to close the year on a strong note, driven by robust performance across our businesses. Our relentless focus on patient centricity, operational efficiency, strategic investments, and execution of our diversified product portfolio continues to pay off, resulting in a significant improvement in profitability as well.”
“We aspire to sustain strong performance in fiscal year 2024-25 with strong revenue growth and strive to improve EBITDA margins further from FY24 levels. This strong performance is a testament to our commitment to creating long-term value for our stakeholders, and we are well- positioned for future growth and innovation,” she added.
In the India Geography segment, constituting 40% of total revenues, Q4 saw an 8% increase to Rs. 21,561 million, with FY24 revenues at Rs. 76,707 million, a 7% increase. Formulations Business, contributing 26% to revenues, recorded Q4 growth of 7% to Rs. 13,806 million and FY24 growth of 9% to Rs. 53,690 million. Consumer Wellness Business reported Q4 revenues of Rs. 7,755 million, up 10% YoY, and FY24 revenues of Rs. 23,017 million, a 3% increase.
Zydus continued its innovative strides with significant developments in New Chemical Entities (NCEs) like Saroglitazar Magnesium, Desidustat, and ZYIL1, which are advancing through various clinical trial phases. Additionally, Zydus received marketing authorization from the UK MHRA for Nulibry® and acquired worldwide proprietary rights to Zokinvy® for treating ultra-rare genetic disorders.