Zydus Lifesciences Limited has reported strong financial results for the quarter and nine months ended December 31, 2025, with broad-based growth across key businesses and continued investments in innovation. For Q3 FY26, revenue from operations stood at Rs. 68,645 million, up 30 percent year-on-year. EBITDA for the quarter was Rs. 18,164 million, a growth of 31 percent, with an EBITDA margin of 26.5 percent, while adjusted net profit came in at Rs. 11,109 million, up 9 percent. R&D investments during the quarter were Rs. 6,074 million, or 8.8 percent of revenues, and organic capex was Rs. 4,637 million.
For the nine months of FY26, Zydus reported revenues of Rs. 195,614 million, an increase of 17 percent over last year. EBITDA stood at Rs. 59,207 million, up 20 percent, with an EBITDA margin of 30.3 percent, reflecting an improvement of 80 basis points. Adjusted net profit for 9M FY26 was Rs. 38,640 million, up 15 percent year-on-year. The company continued to maintain a strong balance sheet, with a Net Debt to Equity ratio of 0.11x and Net Debt to EBITDA of 0.36x as of December 31, 2025.
Commenting on the performance, Dr Sharvil Patel, Managing Director, Zydus Lifesciences Limited, said, “Our robust performance in the third quarter of FY26 across key businesses reinforces the strength and scalability of our base business. Our disciplined M&A and business development strategy is translating into tangible results, laying a strong foundation for sustained value creation. Anchored in patient centricity, supported by unwavering compliance and an agile supply chain, we continue to deliver quality products globally. We remain focused on consistent execution and driving long-term shareholder value.”
In India formulations, the company reported revenues of Rs. 17,094 million, up 13 percent year on year, with branded products and chronic therapies leading growth and a rising contribution from oncology and other superspecialty segments. The North America formulations business delivered revenues of Rs. 28,043 million, up 16 percent year-on-year, supported by new generic launches, approvals and the ramp up of specialty products. Zydus also strengthened its presence in orphan and rare diseases with USFDA approval for Zycubo for Menkes disease and expanded its US capabilities through the acquisition of two biologics manufacturing facilities in California. The international formulations, API, Consumer Wellness and MedTech businesses all contributed to growth, with Consumer Wellness revenues more than doubling on account of Comfort Click Limited consolidation and steady underlying demand.
On the innovation front, Zydus is preparing to file a New Drug Application for Saroglitazar Magnesium with the USFDA, advancing Phase III development of a biosimilar antibody drug conjugate in India and progressing a bivalent typhoid conjugate vaccine into Phase II clinical trials. The company also secured important global tenders for rabies and typhoid vaccines and continued to build its US specialty and biosimilars portfolio through strategic in licensing and partnerships. In MedTech, the proprietary Andy robotic surgical system received CE mark approval, marking a key milestone in its global device ambitions.
