Zydus Lifesciences Ltd - Stock Valuation and Financial Performance

BSE: 532321 | NSE: ZYDUSLIFE | Pharmaceuticals & Drugs | Large Cap

Zydus Lifesciences Share Price

953.35 20.75 2.22%
as on 30-Jan'25 16:59

DeciZen - make an informed investing decision on Zydus Lifesciences

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Zydus Lifesciences stock performance -

P/E Ratio (CD):
22.29
Market Cap:
95,929.3 Cr.
52-wk low:
745
52-wk high:
1,323.9

Is Zydus Lifesciences Ltd an attractive stock to invest in?

1. Is Zydus Lifesciences Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Zydus Lifesciences Ltd is a good quality company.

2. Is Zydus Lifesciences Ltd undervalued or overvalued?

The key valuation ratios of Zydus Lifesciences Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Zydus Lifesciences Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Zydus Lifesciences Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Zydus Lifesciences:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Zydus Lifesciences Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 23.2%28.6%16.5%18.6%15.9%10%14.4%15.3%13.6%24.9%-
Value Creation
Index
1.11.50.50.70.4-0.10.30.40.21.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8,6519,4279,37711,90513,16614,25314,40415,11017,23719,54720,870
Sales YoY Gr.-9%-0.5%27%10.6%8.3%1.1%4.9%14.1%13.4%-
Adj EPS 11.318.914.417.418.211.922.520.121.537.642.8
YoY Gr.-67.9%-23.6%20.6%4.3%-34.5%89.5%-11%7.1%74.9%-
BVPS (₹) 41.555.76885.4101.4101.3126.9166173.1197.1216.9
Adj Net
Profit
1,1531,9361,4781,7821,8591,2172,3072,0542,1743,7804,303
Cash Flow from Ops. 9941,8941,3129191,2822,9323,2942,1052,6893,228-
Debt/CF from Ops. 2.71.345.96.22.71.420.40.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.5%8.2%10.7%13.4%
Adj EPS 14.3%15.7%18.6%74.9%
BVPS18.9%14.2%15.8%13.9%
Share Price 11.3% 29.2% 32.8% 25.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
3038.923.422.719.411.719.713.712.620.320.7
Op. Profit
Mgn %
20.324.720.323.922.719.623.62120.727.129.9
Net Profit
Mgn %
13.720.415.714.714.18.51614.212.819.320.6
Debt to
Equity
0.60.40.80.60.80.80.40.30.100
Working Cap
Days
15315817818521321010310710297101
Cash Conv.
Cycle
615363801011031018202455

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 20.70%

Sales growth is growing at healthy rate in last 3 years 10.72%

Net Profit is growing at healthy rate in last 3 years 18.58%

Sales growth is good in last 4 quarters at 13.69%

No data to display

Latest Financials - Zydus Lifesciences Ltd.

Standalone Consolidated
TTM EPS (₹) 43.2 42.8
TTM Sales (₹ Cr.) 11,945 20,870
BVPS (₹.) 177.9 216.9
Reserves (₹ Cr.) 17,797 21,724
P/BV 5.36 4.40
PE 22.07 22.29
From the Market
52 Week Low / High (₹) 744.95 / 1323.90
All Time Low / High (₹) 5.53 / 1323.90
Market Cap (₹ Cr.) 95,929
Equity (₹ Cr.) 100.6
Face Value (₹) 1
Industry PE 41.1

Quarterly Results

 Dec'23 YoY Gr. Rt. %Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %
Sales (₹ Cr.) 4,344 4.45,366 10.66,047 19.75,114 20.1
Adj EPS (₹) 7.4 37.311.7 55.314.3 29.48.7 18.9
Op. Profit Mgn % 24.91 446 bps30.28 320 bps34.88 455 bps27.69 271 bps
Net Profit Mgn % 15.48 347 bps22.08 591 bps23.86 164 bps16.54 -2 bps

Management X-Ray of Zydus Lifesciences:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:74.98%Institutions:18.18%Non-Institutions:6.84%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%20%40%60%80%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Zydus Lifesciences

MRP
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MOS
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DP
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Base EPS
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DPS
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MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

Zydus Lifesciences: Stock Pulse - 18 Jun 2024

About the Company:

Zydus Lifesciences Limited, formerly known as Cadila Healthcare Limited, is an Indian multinational pharmaceutical company and is primarily engaged in the manufacture of generic drugs. It is also the parent company of Zydus Wellness, where the company maintains a 69.62% controlling stake. The company derives 47% of its revenue from the United States, 26% from India, 14% from Wellness (India), 9% from Emerging Markets and EU, and 4% from other businesses such as APIs and Alliances.

From FY18 to FY23, the company has experienced an annual sales growth of 7.7%, while the adjusted EPS has remained flat. This trend can be attributed to a decline in net profit margins from 16% to 10.4% between FY21 and FY23, accompanied by a decrease in Return on Equity from 19.7% to 10.2% over the same period. These declines are primarily due to price erosion and fewer product launches during this timeframe.

However, in FY24, the company's net profit margin has rebounded to 19.7% and sales and profits grew by 13.4% and 97% respectively, driven by numerous new product introductions and low price erosion. The fluctuation in earnings is characteristic of the pharmaceutical industry's cyclical nature, which is heavily influenced by the launch of new products and the erosion of prices for existing ones.

What are the growth and revenue drivers for Zydus Lifesciences?

(In Rs. Crores)

The key revenue drivers for the company are its Indian formulation business and the United States generic business, which each have their own drivers.

India: The India formulations business accounted for 26% of the company’s revenues in FY24. The business consists of both acute and chronic therapies. The growth in the Indian formulations business is being led by chronic therapies. Introduction of oncology brands such as Vivitra (trastuzumab), Bryxta (bevacizumab) and Ujvira (trastuzumab emtansine), nephrology brands such as Oxemia, and Lipaglyn (Saroglitazar) for diabetes have largely led to this growth and shall contribute favourably to the future growth of this segment. Zydus Lifesciences maintains a strong competitive advantage by selling various key drugs at a fraction of the cost of innovators.

US Generics Business: The US remains the world’s largest pharmaceutical market, accounting for over 40% of the global market in 2022. This is primarily due to the high GDP, GDP per capita and high prices commanded by innovator drugs. This makes the United States extremely attractive to Indian generic manufacturers who enter the business through bioequivalence or as generic manufacturers. The United States accounted for 47% of Zydus Lifescience’s revenue in FY24. Zydus Lifescience is the 5th largest generic company in the United States and is ranked among the top 3 in 60% of its product families. 

While the United States is an attractive market, it is prone to price erosion due to increased competition when a drug loses patent protection. Price erosion can be as high as 80% due to huge number of players and oligopolistic nature of distributors. Growth in FY23 and FY24 was due to the approval of generic versions of Revlimid and Trokendi. However, these drugs will face intense competition at launch in FY27 when the innovator drugs lose exclusivity as per settlements. Growth in the United States is expected to come from the launch of generics as well as a few new drugs with a focus on orphan drugs. The company has a robust pipeline which should aid growth over the next few years. The growth rate will vary depending on patent expiries, settlements and price erosion.

Emerging Markets and Europe: Emerging Markets and Europe accounted for 9% of Zydus Lifescience’s revenue in FY24. The company is present in various countries such as but not limited to France, Spain, South Africa, Mexico, Brazil, Australia and other markets in Africa, Middle East and Eastern Europe. While the contribution of each country may be low, the company aims to be a large player in the segments where it is present. It is the largest player in Sri Lanka, 9th largest in the Philippines and 2nd largest in South Africa. Over the last 5 years, this segment has grown an annualized rate of 13%.

Others: The other segments of the company include Zydus Wellness, API and Alliances.  The API business accounted for 4% of the consolidated revenue. The alliances include JVs where Zydus Lifesciences manufactures products solely for its joint venture partners. The contribution of such businesses is negligible. 

Zydus Wellness accounted for 14% of Zydus Lifescience’s revenue in FY23. This business includes brands such as Complan, Sugarfree and Glucon-D, and has grown at an annualised rate of 7% for the last 4 years (A 5 year estimate would be misleading due to the acquisition of Heinz India’s consumer wellness business in 2019). However, the earnings can be volatile due to dependence on raw material such as milk, stevia, refined palm oil, aspartame and dextrose monohydrate. Moreover, Zydus Wellness is a seasonal business with majority of the revenue generated in Q1 and Q4 of the financial year which is due to its product portfolio.

While the operating margins for Zydus Wellness have been falling and are at an all-time low, we expect the margins to improve over the future. The company expects 17-18% EBITDA margins in the following two years, primarily driven by improvements in gross margins. Furthermore, the company expects demand to recover soon leading to double digit growth. The outlook for this segment remains healthy.

What are the key risks?

Price Erosion: Price erosion is a key risk for all generic pharmaceutical companies. Loss of patent leads to 60-80% erosion in price due to increased competition and the oligopolistic nature of distribution. As a result, bulk of the profitability is made early in the off patent cycle by companies that have 180 day exclusivity. Therefore, high profit margins over the short term cannot be extrapolated without a healthy pipeline of new launches that offset the price erosion. Certain key drugs are expected to witness competitive pressures in FY27, but the extent of price erosion remains uncertain.

Stretched Cash Conversion Cycle: The cash conversion cycle may continue to remain elongated due to the consolidation of American distributors and the commoditization of generic drugs. Moreover, geopolitical problems may cause increase in shipping time.

Zydus Lifesciences: Q1FY24 Result Update - 19 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

5,140

+30%

 Revenues growth driven by US, Emerging markets   and  Europe (EM & EU) formulations businesses

EBITDA

1,505

+80%

 

EBITDA Margin

30%

+882 bps

 Operating leverage aided by better product mix  

PAT

1,134

+97%

 Flat depreciation, lower interest cost aided PAT 

Stellar results on back of performance across segments, margin expansion and cost control.

 

Cadila Healthcare: Waiting for more margin of safety - 15 May 2019

Cadila experienced very good growth in its US business over last 3-5 years thanks to large pipeline it had from FY15-18. Currently the margins are high and they may come down as new launches slowdown and pricing pressure will reduce gross margins. Its R&D also is expected to increase as a % of sales.

We believe that it will experience slower growth in next 1-2 years as it has large base of launches in recent past. Also its domestic business comprises of bulk of the old drugs with limited growth. So we believe current price is not good enough to justify allocation. The price can correct more as its Moriaya Plant has received USFDA observations that could lead to further escalations. This will dampen its growth as it is one of the important plants from new launch perspective.

We would wait before jumping to buy Cadila. Meanwhile, we may like to buy Lupin, Cipla as their launches are lined up in next 4-8 quarters. If you haven’t bought Lupin & Cipla already, you can add them at current prices. You can consider switching your Cadila position to either of the two.

Even if we have disclosed our valuations for ready reference, we suggest you always ask us before you buy a stock beyond our recommendations. We will highlight caveats, if any.

Cadila Healthcare: Buy in tranches - 16 Oct 2013

Cadila Healthcare Ltd. has the product portfolio of formulations, active pharmaceutical ingredients (API), intermediates, biological, animal healthcare products and consumer wellness products (Zydus Wellness Ltd.). Cadila’s historical financial performance has been good. It has clocked good sales and EPS growth rates. It is one of the few companies that have shown consistent value creation for shareholders across the years.

What are the concerns and how is Cadila addressing them?

 
1. In the last 2 years, Cadila’s sales have grown at a slower pace and also its earnings have been impacted by increase in raw material cost & interest cost.
 
- While Cadila’s margin will continue to be impacted due to the above mentioned factors, this will be more than offset by the growth in revenues. It has launched vaccines & Lipaglyn and will soon be launching MAB (monoclonal    antibodies used for curing cancer) which will be factored in revenue numbers in the next year. Moreover, the revenue from Abbott JV has already started but will ramp up in next 1-2 years. This, in total, would give significant growth in  revenue. It is expected that this will boost earnings going ahead.
 
2. Implementation of GDUFA (Generic Drug User Fee Act): As a result, the company has seen fewer drug approvals, which have hurt the company’s June quarter’s performance in its key market like US. Moreover it has cut the target approval for FY 2013-2014.
 
- Prior the GDUFA, when the company filed for drug approval, it received responses for each of the three sections - CMP, labelling & bio-study separately. These responses would include any additional information required by the  FDA, other issues, deficiency in the dossier, etc. The company could then start working on these and send it back to the FDA for approval. But now, the drug has to be approved by all sections and then one common letter has to be  issued, which delays the entire process. This has resulted in pending approvals which may not be the scenario going forward in next fiscal year, as the FDA streamlines process.
 
3. Subdued performance in Brazil and India in June Quarter.
 
- In Brazil: There was a strike in ANVISA (National Health surveillance agency of Brazil) regulatory body by their employees which had delayed approvals, lowering the revenue growth. The management has also mentioned that  the stockist have started de-stocking due to rise in interest rate in Brazil. Despite this, Cadila has 62 approval pending as it had filed for 102 approvals out of which it had got approvals for only 40. Going forward, it is expected that  Cadila will get more number of drugs approved in 2014 which will help to improve the top line.
 
- In India: This was majorly on the account of the new drug pricing policy in India which may cause slowdown in domestic market and is likely to be impacted by Rs. 90 Cr. in sales. Though, this will continue to impact margins; it    is expected to be offset with the significant growth in revenue in future.
 

What should investors do?

Cadila Healthcare is a fundamentally strong stock, which can have a good future growth. It is currently available at reasonable price. However, the stock may see some pain in the short term as company’s performance is expected to remain subdued in the near term. Investors can look at buying the stock in tranches, thereby averaging their buying price.

 

Key Ratios of Zydus Lifesciences

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Sun Pharma Inds. 1,745.3 8.6 (0.5%) Large Cap 48,497 46.1 20.9 37.9 6.1
Dr. Reddys Lab 1,194.9 13.1 (1.1%) Large Cap 28,011 64.4 19.6 18.6 3.1
Cipla 1,458.2 34.2 (2.4%) Large Cap 25,774 61.8 15.6 23.6 3.9
Zydus Lifesciences 953.4 20.8 (2.2%) Large Cap 19,547 42.8 19.3 22.3 4.4
Torrent Pharma 3,357.2 -2.4 (-0.1%) Large Cap 10,728 55 14.8 61 14.2
Divis Lab 5,733.6 112.8 (2%) Large Cap 7,845 69.2 20.2 82.9 11.1

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales8,6519,4279,37711,90513,16614,25314,40415,11017,23719,547
Operating Expenses 6,8977,0977,4729,05810,18711,47311,01811,93513,66614,248
Manufacturing Costs1,2821,5531,1301,8922,1552,4832,5032,5722,9833,124
Material Costs2,8142,6733,0653,6574,1414,2434,0944,7575,3365,260
Employee Cost 1,0971,1191,4851,6451,9032,1702,0702,1782,4562,789
Other Costs 1,7051,7521,7921,8641,9882,5772,3522,4292,8903,075
Operating Profit 1,7542,3301,9042,8472,9782,7803,3853,1753,5725,299
Operating Profit Margin (%) 20.3%24.7%20.3%23.9%22.6%19.5%23.5%21.0%20.7%27.1%
Other Income 5711714713320911775391475369
Interest 68536311119634218612713081
Depreciation 287292373539599697670713723764
Exceptional Items -10-300-10-364-205113-604-14
Profit Before Tax 1,4462,0991,6152,3312,3821,4952,3992,8382,5904,809
Tax 259177129564530320194512588978
Profit After Tax 1,1861,9211,4861,7661,8521,1762,2062,3262,0023,831
PAT Margin (%) 13.7%20.4%15.8%14.8%14.1%8.2%15.3%15.4%11.6%19.6%
Adjusted EPS (₹)11.218.914.517.318.111.520.843.819.438.4
Dividend Payout Ratio (%)21%17%22%20%19%30%17%6%31%8%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 4,2525,6996,9608,74510,38610,37612,99217,00017,51619,830
Share Capital 102102102102102102102102101101
Reserves 4,1495,5976,8588,64210,28410,27312,89016,89717,41519,729
Minority Interest169136156191129313351937205421732272
Debt2,3342,1074,9455,1137,1477,0413,6803,6761,081769
Long Term Debt1,1508962,4682,5553,9503,21561036200
Short Term Debt1,1841,2112,4772,5583,1973,8273,0713,3141,081769
Trade Payables1,0911,3081,5481,8881,9232,0442,2062,1382,1252,127
Others Liabilities 1,2027827161,2041,7642,0381,9941,8321,6002,640
Total Liabilities 9,04710,03214,32517,14122,51322,83422,81026,70024,49427,637

Fixed Assets

Gross Block5,1395,7678,1039,34915,70216,78217,34517,65118,34419,920
Accumulated Depreciation1,7862,0172,3462,8673,5394,5515,2125,4626,8237,551
Net Fixed Assets3,3523,7515,7576,48312,16412,23112,13312,18911,52112,369
CWIP 7989511,5431,5278377427837261,2012,423
Investments 1544164357466747658303,2881,5471,221
Inventories1,5361,3371,8042,3852,6882,7893,2363,7193,4133,442
Trade Receivables1,5881,7472,2783,2063,9513,6633,1273,3404,4175,220
Cash Equivalents 6706391,5441,3155499658881,1075731,105
Others Assets9491,1929651,4791,6511,6801,8122,3311,8231,857
Total Assets 9,04710,03214,32517,14122,51322,83422,81026,70024,49427,637

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 9941,8941,3129191,2822,9323,2942,1052,6893,228
PBT 1,4462,0991,6122,3122,3821,4952,2855,2322,5834,838
Adjustment 3452503346245391,4741,163-2,117934547
Changes in Working Capital -377272-411-1384-972264191-336-236-871
Tax Paid -387-646-238-602-675-303-345-675-592-1,286
Cash Flow From Investing Activity -465-864-2,872-974-4,239-1,012-725-1,0001,535-1,475
Capex -496-957-2,935-1,035-1,046-889-847-1,055-992-883
Net Investments -1116512-4,74629-39-2,8632,298-419
Others 427858501,554-1521612,918229-173
Cash Flow From Financing Activity -351-9352,316521,885-1,528-2,548-868-4,400-1,810
Net Proceeds from Shares 000000987000
Net Proceeds from Borrowing -330-2371,4991011,808-786-2,568-674-841-83
Interest Paid -67-44-56-105-80-324-184-111-126-73
Dividend Paid -184-572-3270-358-715-2-372-267-621
Others 230-821,19956514296-781289-3,166-1,034
Net Cash Flow 17895756-3-1,07239122236-177-58
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)30.8538.6223.4722.519.3611.3218.8815.5111.620.52
ROCE (%)23.2128.616.5218.5515.8910.0214.3815.313.6424.9
Asset Turnover Ratio1.031.010.790.760.660.631.271.191.321.46
PAT to CFO Conversion(x)0.840.990.880.520.692.491.490.91.340.84
Working Capital Days
Receivable Days56637784999743404246
Inventory Days60556064707038433833
Payable Days130164170171168171189167146148

Zydus Lifesciences Ltd Stock News

Zydus Lifesciences Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Zydus Lifesciences on 30-Jan-2025 16:59 is ₹953.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Jan-2025 16:59 the market cap of Zydus Lifesciences stood at ₹95,929.3.
The latest P/E ratio of Zydus Lifesciences as of 30-Jan-2025 16:59 is 22.07.
The latest P/B ratio of Zydus Lifesciences as of 30-Jan-2025 16:59 is 5.36.
The 52-week high of Zydus Lifesciences is ₹1,323.9 and the 52-week low is ₹745.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Zydus Lifesciences is ₹11,945 ( Cr.) .

About Zydus Lifesciences Ltd

Cadila Healthcare Limited, a company limited by shares, incorporated and domiciled in India, operates as an integrated pharmaceutical company with business encompassing the entire value chain in the research, development, production, marketing and distribution of pharmaceutical products. The product portfolio of the company includes Active Pharmaceutical Ingredients (API) and human formulations. The company’s shares are listed on the National Stock Exchange of India Limited (NSE) and BSE Limited.

The company’s initiatives in the areas of research and development span across the pharmaceuticals value chain, including New Chemical Entities (NCE), biologics, vaccines, specialty and complex generic formulations and API process development. The company has a global presence and sells its products in the United States, India, Europe and emerging markets including countries in Latin America, Asia Pacific region and Africa. The company has a pool of modern, cost efficient and regulatory compliant manufacturing facilities which ensures continuous supply of high quality products at the most competitive prices to its customers across the globe.

Business area of the company

The company is one of the leading innovation driven pharmaceutical companies in India with presence across the pharmaceutical value chain of innovating (research & development), manufacturing, marketing and selling of finished dosage human formulations (generics, branded generics and specialty formulations, including biosimilars and vaccines), active pharmaceutical ingredients (APIs), animal healthcare products and consumer wellness products. Innovation is the backbone of the company as it ensures business sustainability through continuous availability of new products for various businesses.

Business verticals / products

  • Human Health Formulations
  • Consumer Wellness
  • Animal Healthcare

Awards

2008-09:

  • The Company received the 'Social and Corporate Governance Awards 2008' in the 'Best Social Responsibility Practice' category presented by the BSE, NASSCOM Foundation and Times Foundation jointly.

2009-10:

  • Received the 'IMAI OE Award for the Pioneering and Paradigm Shifting Applications of OE in Tablet Manufacturing' by the KAIZEN Institute.
  • Received the 'Best-In-Class Manufacturing Award (Pharma Sector)' by Stars of the Industry Awards.

2010-11:

  • Declared the ‘Emerging Company of the Year’ by the Economic Times Awards for Corporate Excellence 2010.

2011-12:

  • Zydus Research Centre, Ahmedabad has achieved the full AAALAC accreditation for the fourth year in a row. It has also received accreditation from College of American Pathologists (CAP) upon completion of the inspection process. This accreditation was received in the first inspection itself.

2012-13:

  • The Gujarat Ecology Commission selected the Company for good ‘Environment-friendly Practices in Gujarat’. Zydus Research Centre won the Safety Award for the third consecutive year from Gujarat Safety Council.

2013-14:

  • Moraiya formulations facility was awarded the 'Gold Award - Pharma Sector, Mega Large Business' by The Economic Times and Frost & Sullivan for achieving operational excellence.

2014-15:

  • The Moraiya formulations facility was awarded the 'Green Manufacturing Award - Gold Category' by International Research Institute for Manufacturing.
  • The Baddi formulations facility was awarded 'Gold Certificate Merit' in IMEA - India Manufacturing Excellence Awards 2014 by The Economic Times in partnership with Frost & Sullivan.

2015-16:

  • It was awarded the Overall India Pharma Excellence Award and the India Pharma Innovation of the Year Award from the Department of Pharmaceuticals, Government of India.

2016-17:

  • Topical formulations facility received the ‘Silver Certificate of Merit’ from Frost & Sullivan at India Manufacturing Excellence Awards 2016.

2017-18:

  • The manufacturing sites at Moraiya, Baddi and Sikkim received the Silver medal at the National Award for Manufacturing Competitiveness (NAMC) by IRIM global.
  • API manufacturing facility at Ankleshwar Ank Unit I bagged a Silver at the Greentech Safety Award 2017 in recognition of its safety systems from the Greentech Foundation, Environment.

2018-19:

  • Moraiya formulations manufacturing facility received the Gold Award in the category of Pharma Sector, Large Business at the India Manufacturing Excellence Awards, 2018.

2019-20:

  • Cadila Healthcare Limited received CSIR Diamond Jubilee Technology Award for Discovery & Development of Saroglitazar in June 2019.
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