Transcript of the Earnings conference call held on May 18, 2026

Zydus Wellness reported Q4 FY2026 net sales growth of 62.1%, driven by strong international business including Comfort Click delivering 31.4% like-to-like growth while domestic grew only 1.7%. Seasonal brands declined 9.8% due to delayed summer and unseasonal rains in March-April, primarily impacting North and East regions. EBITDA grew 42.2% to INR 2,701 million for the quarter, and full year EBITDA reached INR 5,097 million (34.2% growth). Net profit declined 5.8% in Q4 due to higher finance costs from the Comfort Click acquisition loan and increased amortization of acquired brands; however, net profit excluding exceptional items and amortization grew 17% in Q4. Comfort Click is already EPS-accretive in Q4, seven months post-acquisition, with management confirming it is on track with the earlier guided ~14-15% EBITDA margin. Multiple new product launches were highlighted across RiteBite Max Protein, Sugar Free D'lite, Everyuth, Glucon-D Recharge, and WeightWorld/Animigo, with AI-led consumer targeting being leveraged.