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Indian consumer wellness company selling sugar-substitutes, health drinks and skincare brands like Sugar Free, Complan and Nycil.
Indian consumer wellness company selling sugar-substitutes, health drinks and skincare brands like Sugar Free, Complan and Nycil.
Grew by buying brands: Complan, Glucon-D and Nycil came with the 2019 purchase of Heinz's Indian consumer business, while Sugar Free was already its own. The Zydus group is the controlling shareholder, and summer-season drinks like Glucon-D make earnings seasonal.
In one line: India's smaller Church & Dwight for health/wellness brands.
Moat: narrow (brand, distribution). Long-established household brand names in niche wellness categories with strong retail distribution.
Headquarters: Ahmedabad, India · Founded: 1988 · Employees: 3,789
Size Zydus Wellness (ZYDUSWELL.NS) is an India Consumer Staples company (Food: Major Diversified) with a market value of $1.58B, the 445th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹468.60 on 6 Nov 2026.
Performance Over six months the shares fell 7.0%, against -6.2% for the median peer and 0.0% for the India market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 73.7% over the last twelve months (peer median +4.4%); the operating margin is 8.5% (peer median 8.3%).
Valuation It trades at 41.0× forward earnings against a peer median of 16.4× (2nd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.3 points below its cost of capital (10.0% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹50.1B | ₹39.5B | ₹27.1B | ₹23.3B | ₹22.5B |
| Revenue growth | — | +46% | +16% | +3% | — |
| Gross profit | ₹26.2B | ₹18.2B | ₹10.8B | ₹8.87B | ₹8.38B |
| EBITDA | ₹6.53B | ₹4.94B | ₹3.80B | ₹3.08B | ₹3.38B |
| Net income | ₹2.46B | ₹1.97B | ₹3.47B | ₹2.67B | ₹3.10B |
| Free cash flow | n/a | ₹393M | ₹3.03B | ₹2.05B | ₹340M |
| Capital expenditure | n/a | ₹1.02B | ₹663M | ₹285M | ₹450M |
| Total debt | ₹31.7B | ₹32.0B | ₹1.88B | ₹3.29B | ₹2.97B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Zydus Wellness ZYDUSWELL.NS | $1.58B | -7% | +74% | 9% | 41.0× | 32.3% |
| Nestle India NESTLEIND.NS | $26.0B | -13% | +22% | 21% | 59.4× | 36.6% |
| Hindustan Unilever HINDUNILVR.NS | $49.6B | -12% | +6% | 21% | 41.5× | 27.2% |
| Dabur India DABUR.NS | $7.13B | -19% | +9% | 15% | 32.1× | 27.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ZYDUSWELL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.7% | -1.0% | 5th lowest of 21 |
| 6-month return | -7.0% | -6.2% | 11th highest of 21 |
| Distance from 52-week high | -23.4% | -23.4% | 11th highest of 21 |
| Revenue growth (TTM) | +73.7% | +4.4% | highest of 21 |
| Operating margin | 8.5% | 8.3% | 11th highest of 21 |
| Forward P/E | 41.0× | 16.4× | 2nd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 32.3% | -4.1% | most demanding of 16 |
| Growth delivered (Del g) | +16.2% | +2.5% | 3rd highest of 16 |
| Hurdle (Req g minus delivered) | +16.1 pp | -5.6 pp | 2nd most demanding of 16 |
| ROIC minus cost of capital | -6.3 pp | +3.8 pp | 2nd lowest of 21 |
| EV / EBITDA | 27.3× | 8.1× | 2nd most expensive of 12 |
| Net debt / EBITDA | 4.5× | -0.3× | 2nd most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zydus Wellness ZYDUSWELL.NS | India | $1.58B | -7% | +74% | 9% | 41.0× | 32.3% | +16.2% |
| Herbalife HLF | United States | $1.60B | +7% | +6% | 9% | 5.4× | -14.8% | -1.9% |
| Yankershop Food 002847.SZ | China | $1.64B | -30% | 0% | 14% | 14.6× | 2.9% | +24.1% |
| Yihai International 1579.HK | Hong Kong | $2.02B | +3% | +11% | 18% | 14.2× | 6.8% | +3.6% |
| Dongsuh 026960.KS | South Korea | $2.06B | +6% | +6% | 8% | n/a | 16.2% | +1.6% |
| Cheng De Lolo 000848.SZ | China | $1.18B | -11% | +5% | 24% | 12.6× | -10.8% | +11.3% |
| ITO EN,Ltd 2593.T | Japan | $2.12B | +14% | +5% | 5% | 26.0× | n/a | n/a |
| S&B Foods 2805.T | Japan | $1.16B | +53% | +7% | 9% | 16.8× | -1.8% | +2.5% |
| Jiangsu Hengshun Vinegar-Industry 600305.SS | China | $1.15B | -7% | +6% | 6% | 49.9× | 17.3% | +2.6% |
| Shanghai Ziyan Foods 603057.SS | China | $1.09B | -37% | +7% | 6% | 39.1× | n/a | n/a |
| Simply Good Foods SMPL | United States | $1.05B | -2% | -7% | 13% | 7.9× | -12.3% | +6.2% |
| Chagee Holdings Limited Unsponsored ADR CHA | United States | $2.44B | +19% | 0% | 11% | 7.9× | -4.1% | +190.8% |
| Olam VC2.SI | Singapore | $2.55B | -29% | -40% | 2% | 17.6× | -3.7% | -3.7% |
| Bombay Burmah Trading BBTC.NS | India | $947M | -18% | +7% | 16% | n/a | -8.8% | +8.2% |
| AGT Food and Ingredients AGTF.TO | Canada | $922M | +12% | -19% | -2% | 16.0× | n/a | n/a |
| Hongmian Zhihui Science and Technology Innovation Co., Ltd. Guangzhou 000523.SZ | China | $798M | -16% | +4% | 2% | n/a | 12.1% | -8.5% |
| Vitasoy International 0345.HK | Hong Kong | $794M | -3% | -3% | 7% | 21.8× | -9.8% | -4.2% |
| Standard Foods 1227.TW | Taiwan | $751M | -5% | 0% | 4% | n/a | n/a | n/a |
| V V Food & Beverage 600300.SS | China | $717M | -18% | +6% | 11% | n/a | -9.2% | -6.8% |
| Lian Hwa Foods 1231.TW | Taiwan | $694M | -12% | +3% | 9% | n/a | n/a | n/a |
| Xiangpiaopiao Food 603711.SS | China | $660M | -24% | +2% | 7% | 20.7× | -11.3% | -4.9% |