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Zydus Wellness
Indian pharma industry is capable of delivering 100 new drugs by 2047 for global markets backed by enhanced research and development efforts, Zydus Lifesciences Chairman Pankaj R Patel said on Friday. Speaking at an event here, he stressed the need for innovation, capability building, and a focus on societal benefit. "I believe India can deliver 100 new chemical entities or new drugs to the world by 2047 and off course, it will require effort," Patel said while speaking at the SOUL leadership conclave 2025. He termed it a myth that drug discovery requires a billion dollars while emphasising that it is possible with the right approach. Patel also asserted that the people working in an organisation are the most valuable resource and pitched for an environment where people love to work. He also emphasised the evolving nature of leadership, highlighting the importance of humility, vision, and a global perspective. Patel also shared experiences, including the Prime Minister's proactiv
Zydus Wellness Ltd on Saturday said its wholly-owned arm has received a GST demand of Rs 56.33 crore, along with applicable interest and penalty from the tax authority. Zydus Wellness Products Ltd (ZWPL), a wholly-owned subsidiary company, has received an intimation from the Directorate General of Goods and Services Tax Intelligence, Surat Zonal Unit, alleging GST demand of Rs 56.33 crore, along with applicable interest and penalty, Zydus Wellness Ltd said in a regulatory filing. The intimation alleges that the GST was payable in relation to the acquisition of intellectual property rights from Heinz Italia S.P.A. by Heinz India Pvt Ltd, now merged with ZWPL, it added. "ZWPL believes that there is a strong merit in the case, and ZWPL is evaluating the next steps based on a detailed review of the intimation," the filing said. The period covered by the order relates to the pre-acquisition period prior to January 30, 2019, the filing said. Due to this order, there is no impact on ...
Zydus Wellness on Wednesday said its board has approved the acquisition of Naturell (India), a maker of healthy snacks such as nutrition bars and protein chips, for Rs 390 crore. The company's board has approved entering into the share purchase agreement with the promoters and other shareholders of Naturell (India) Pvt Ltd to acquire 1,50,78,605 equity shares of Re 1 each, representing 100 per cent of the paid-up share capital, at a consideration of Rs 390 crore, it said in a regulatory filing. "We believe that this acquisition is an opportunity to expand our portfolio by investing in brands and products that resonates with our company's portfolio and today's health-conscious consumers," Zydus Wellness Chairman Sharvil Patel said. The acquisition represents a strategic addition to Zydus Wellness, perfectly aligning with the company's aspirations to expand within the consumer wellness space, he added. Vijay Uttarwar, founder of Naturell (India) said Zydus has a proven track record o
Private equity firm True North's arm Threpsi Care LLP on Tuesday divested a 2.6 per cent stake in Zydus Wellness for Rs 374 crore through an open market transaction, while Quant Mutual Fund picked up the stake in the consumer wellness company. According to the block deal data available on the National Stock Exchange (NSE), Threpsi Care LLP sold 17 lakh shares, amounting to a 2.67 per cent stake in Ahmedabad-based Zydus Wellness. The shares were disposed of at an average price of Rs 2,201.40 apiece, taking the transaction value to Rs 374.24 crore. After the share sale, Mumbai-based True North's stake in Zydus Wellness has reduced to 7.45 per cent from 10.12 per cent. These shares were acquired by Quant Mutual Fund at the same price. Shares of Zydus Wellness fell 0.16 per cent to close at Rs 2,220 per piece on the NSE. In December last year, True North through its arm Threpsi Care LLP divested a 1.23 per cent stake in Zydus Wellness for Rs 127 crore.
Zydus Wellness Ltd on Tuesday reported a 3.44 per cent rise in consolidated net profit at Rs 150.3 crore in the fourth quarter ended March 31, 2024. The company had posted a consolidated net profit of Rs 145.3 crore in the same quarter of the previous fiscal, Zydus Wellness said in a regulatory filing. Consolidated total revenue from operations in the quarter under review stood at Rs 782.6 crore, as against Rs 713 crore in the corresponding period a year ago, it said. Total expenses were higher at Rs 632.2 crore in the fourth quarter of financial year 2023-24, as compared to Rs 580.2 crore in the year-ago period. For the fiscal ended March 31, 2024 consolidated net profit was at Rs 266.9 crore, as against Rs 310.4 crore in the previous fiscal, the company said. In FY24, consolidated total revenue from operations stood at Rs 2,327.8 crore, as compared to Rs 2,254.8 crore in FY23. The board of directors at their meeting held on May 14, 2024 recommended a final dividend Rs 5 per equ
Zydus Group on Friday announced plans to invest Rs 5,000 crore in Gujarat in various sectors, including new generation biotechnology products and hospitals, its Chairman Pankaj Patel said. Speaking at the 10th Vibrant Gujarat Global Summit here, Patel said his group has signed Memoranda of Understanding (MoUs) with the state for the investments. "We have signed MoUs of over Rs 5,000 crore. We'll be investing into next generation biotechnology products, new medical device initiatives and hospitals for the healthcare sector," he said. Patel said he has been attending the biennial summit since its inception and thanked Prime Minister Narendra Modi and Union Home Minister Amit Shah for helping businesses when it needs it the most. He said business needs leadership with a vision and the one that pushes it to think bigger, which is offered in Gujarat. Earlier, Nayara Energy's head of refinery Prasad Panicker said the company will be expanding its refinery at Vadinar and also upping its
Private equity firm True North's arm Threpsi Care LLP on Thursday divested a 1.23 per cent stake in Zydus Wellness for Rs 127 crore through an open market transaction. Zydus Family Trust and SBI Mutual Fund were the buyers of Zydus Wellness shares. Threpsi Care LLP sold 7.80 lakh shares, amounting to a 1.23 per cent stake in Zydus Wellness, as per the block deal data available with the National Stock Exchange (NSE). The shares were offloaded at an average price of Rs 1,632 apiece, taking the deal size to Rs 127.30 crore. After the latest transaction, Threpsi Care LLP's shareholding has declined to 10.12 per cent from 11.35 per cent stake (at the end of September quarter) in the company. The scrip of Zydus Wellness gained 0.43 per cent to close at Rs 1,641 per piece on the NSE. In a separate deal on the NSE, ICICI Prudential Mutual Fund and SBI Mutual Fund offloaded more than 56.25 lakh shares of Indiabulls Housing Finance for Rs 123 crore through open market transactions. ICICI
The Supreme Court on Monday sought the response of a firm to a plea filed by consumer goods company Zydus Wellness challenging an order of the Delhi high court which held that it cannot use the brand name "SugarLite" for its products. A vacation bench of Justices J K Maheshwari and P S Narasimha issued notice to the firm named Delhi Marketing and sought its reply within three weeks. The top court was hearing an appeal filed by Zydus Wellness against the May 12 order of the high court which restrained it from using the brand name "SugarLite" as Delhi Marketing held the rights to use the brand name "SUGARLITE". The firm alleged that Zydus was using a deceptively similar trademark to confuse the customers and sought directions to restrain the company that manufactures nutrition and skin care products from using the SugarLite' brand name. Initially, Delhi Marketing had moved trial court in 2020 seeking permanent injunction for using the trademark SugarLite or any other identical or ...
Zydus Wellness Ltd on Wednesday reported a 9 per cent rise in consolidated net profit at Rs 145.33 crore in the fourth quarter ended March 31, 2023. The company had posted a consolidated net profit of Rs 133.3 crore in the year-ago period, Zydus Wellness said in a regulatory filing. Consolidated total revenue from operations stood at Rs 712.98 crore during the quarter under review as compared to Rs 639.78 crore in the year-ago period, it added. Total expenses during the quarter stood at Rs 580.23 crore, up from Rs 510.34 crore in the year-ago period. For the fiscal ended March 31, 2023 consolidated net profit was at Rs 310.37 crore as compared to Rs 308.87 crore in the previous year. For FY23 consolidated total revenue from operations was at Rs 2,254.79 crore as against Rs 2,009.1 crore in FY22, the company said. Zydus Wellness said five of its brands -- Glucon-D, Sugar Free, EverYuth Scrub, Peel Off Face Mask and Nycil -- maintained their leadership positions in their respective