Zydus share price today

Zydus Lifesciences Ltd's share price was ₹1,188.10 at the close on 4 November 2026. It has been rising for 23 weeks. That is 11.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹864 and ₹1,246, and at that close it sat 85% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Zydus Lifesciences Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 12 weeks in a row.

Over the last 11 years the share price moved +245% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), lowest operating margin in 10 quarters and indian funds and insurers (DIIs) raised their stake for 4 quarters in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹8,017 crore, +22% on a year earlier.

   Why: Revenue rose because international formulations grew 34%, led by demand across markets and focused execution.

   Next results: check whether India and Consumer Wellness growth can make up for slower international and US growth.

   From the earnings call on 11 Aug 2026.

2. Lowest operating margin in 10 quarters

   Operating margin was 24% in the June 2026 quarter, against 32% a year earlier.

   Why: The margin fell because the Mirabegron settlement cost more under the innovator deal.

   Next results: check whether the margin stays near 24% as Saroglitazar spending and acquisition costs hit expenses.

   From the earnings call on 11 Aug 2026.

3. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row

   From 10.9% to 11.3% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Zydus reported revenue of ₹8,017 crore, up 22.0% from ₹6,574 crore a year earlier, and a profit of ₹990 crore, down 34.9% from ₹1,521 crore.

Zydus results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Zydus' management discussed these results on a call held on 11 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Zydus closed at ₹1,188.10 on 4 November 2026, up 25.8% from ₹944.10 a year earlier (7 November 2025) and up 141.6% over five years. Its highest weekly close since March 2016 was ₹1,300.90 on 9 August 2024.

Zydus share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Zydus closed at ₹1,188.10, down 4.6% on the week and up 3.7% on the month. Our read, 22 Aug 2026: April to June 2026 revenue rose 22.0% on a year earlier to ₹8,017 crore, but profit fell 34.9% on a year earlier to ₹990 crore and operating margin was 24%, versus 32% a year earlier. India branded formulations grew 20% on a year earlier and international formulations grew 34% on a year earlier, but management reduced its FY27 international-markets outlook to around single digits.

Earlier

• 11 Aug 2026: Zydus held its results call for April to June 2026. Management guided: FY27 revenue framework: consolidated strong double-digit growth; India formulations mid-teens, 300-500 basis points ahead of market; international markets and US around single-digit; Consumer Wellness and Comfort Click double-digit.
• 24 Jul 2026: ex-date for a dividend of ₹1 a share.
• Results for April to June 2026: Revenue up 22.0% and profit down 34.9% on a year earlier.

Our read of the business

April to June 2026 revenue rose 22.0% on a year earlier to ₹8,017 crore, but profit fell 34.9% on a year earlier to ₹990 crore and operating margin was 24%, versus 32% a year earlier. India branded formulations grew 20% on a year earlier and international formulations grew 34% on a year earlier, but management reduced its FY27 international-markets outlook to around single digits.

April to June 2026: Revenue Growth Continues While profit Falls Against April to June 2025.

Our read after the April to June 2026 results, written 22 August 2026.

Zydus paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.08% at the ₹1,188.10 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 24 July 2026.

Zydus dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Zydus Lifesciences Ltd paid out 2% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 11 August 2026, Zydus' management guided: FY27 revenue framework: consolidated strong double-digit growth; India formulations mid-teens, 300-500 basis points ahead of market; international markets and US around single-digit; Consumer Wellness and Comfort Click double-digit.

“With our branded business continuing to gain scale across markets, we expect its share to exceed two-thirds of our overall revenue over the medium term.”Dr. Sharvil Patel, on the call for April to June 2026

What management guided

• FY27 operating margin around 24%; other expenses ₹1,900-2,000 crore per quarter excluding R&D; Mirabegron licensing amortization continues through July to September 2027.
• FY27 capital spending ₹1,500-1,600 crore.
• Saroglitazar planned for FY28 launch; opportunity $200-300 million conservatively and $400+ million optimistically.
• 505(b)(2) share expected to exceed 15% by year-end; Assertio contribution begins next quarter at $15-20 million quarterly annualized run-rate; 30-40 US launches planned, including specialty.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 11 August 2026.

What is changing at Zydus, from the latest results and calls: india branded formulations and chronic mix, us specialty and biosimilars pivot and saroglitazar and china desidustat pipeline.

• India Branded Formulations and Chronic Mix. India branded formulations grew 20% on a year earlier in April to June 2026 and chronic and sub-chronic share reached 54.2%. ✓ fact
• Saroglitazar and China Desidustat Pipeline. Saroglitazar PBC has priority review and is planned for FY28 launch, while Desidustat China access requires another two to three quarters. ✓ fact
• Consumer Wellness and MedTech Platform. Consumer Wellness grew 67% on a year earlier to ₹14.3 billion in April to June 2026; MedTech revenue was ₹2.8 billion. ✓ fact

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the April to June 2026 results, written 22 August 2026.

India branded formulations growth below 10% on a year earlier together with consolidated operating margin below 22% for two consecutive quarters, or a Complete Response Letter for Saroglitazar PBC that removes the FY28 commercialization path.

Each change stops working if

• US Specialty and Biosimilars Pivot: Specialty market access is delayed or generic price erosion accelerates faster than new launches can offset it.
• Saroglitazar and China Desidustat Pipeline: Saroglitazar receives a Complete Response Letter or China reimbursement access does not support commercialization.

The main risks

• US Generic Cliff and Mirabegron Competition: Revlimid erosion and Mirabegron competition underpin the FY27 margin reset and single-digit US growth outlook. ✓ fact
• Margin and Cost Reset Persists: April to June 2026 operating margin was 24% and depreciation was ₹555 crore, while other expenses are guided at ₹1,900-2,000 Cr per quarter excluding R&D. ✓ fact
• Guidance Reductions and Communication Risk: The August consistency review identifies four changed expectations, not a stable forward framework. ✓ fact
• Working-Capital Absorption and Free-Cash-Flow Risk: FY26 operating cash flow was ₹2,117 crore versus ₹5,124 crore profit; cash decomposition shows inventory-led working-capital expansion and ₹13,386 crore capital spending. ✓ fact

Our read after the April to June 2026 results, written 22 August 2026.

When Zydus reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Assertio contribution begins next quarter; check acquired-product revenue, launch execution and specialty mix.

Zydus is on 3 of our India lists: Momentum stocks, 52 week high & low and Pharma stocks.

Zydus Lifesciences Ltd earned ₹990 Cr of net profit in the Jun 2026 quarter, −34.9% on the same quarter a year earlier. Full-year FY26 profit was ₹5,124 Cr. Over 10 years profit has grown 10.1% a year on average. That is 12.3% of the quarter's revenue. The same quarter a year earlier earned ₹1,521 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹5,124 Cr (+9.7% on the year before).

Why profit moved: revenue changed +22.0% on a year earlier and the margin moved −8.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +1.8% and revenue +21.4%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY26-Q4. revenue ₹7,587 Cr and profit ₹1,341 Cr as reported.

FY27-Q1. revenue ₹8,017 Cr and profit ₹990 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Zydus Lifesciences Ltd reported ₹8,017 Cr of revenue in the Jun 2026 quarter, +22.0% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 11.2% a year on average. The last full year, FY26, came in at ₹27,148 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Consumer Wellness revenue was Rs 14.3 billion, up 67% YoY, with the international portfolio up 25% like-for-like and domestic business up 5%. MedTech revenue was Rs 2.8 billion across orthopedics, cardiology, and nephrology.

The last four reported quarters add to ₹28,591 Cr.

FY26 revenue was ₹27,148 Cr, +16.8% on the year before.

Recent pace: the last four quarters grew +21.4% on average, against 11.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +21.1%, against +17.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −2.5%, against +3.1% a year (rolling over).

FY26-Q4. revenue ₹7,587 Cr and profit ₹1,341 Cr as reported.

FY27-Q1. revenue ₹8,017 Cr and profit ₹990 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Zydus Lifesciences Ltd's operating margin was 24.0% in the Jun 2026 quarter, 8.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 17.0% and 31.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −7.7 percentage points on the year while gross margin changed −0.7 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

FY26-Q4. revenue ₹7,587 Cr and profit ₹1,341 Cr as reported.

FY27-Q1. revenue ₹8,017 Cr and profit ₹990 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 88% of Zydus Lifesciences Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,117 Cr of operating cash against ₹5,124 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹13,386 Cr of spending on assets, free cash was −₹11,269 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 88% of profit came in as cash: the cash cycle got 54 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 5.9× depreciation over three years. The next section checks what that spending is building.

Zydus Lifesciences Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 212 days in FY26, up from 158 days in FY21. It spent ₹18,170 Cr on assets over the last 3 years. Customers take 73 days to pay, and stock sits for 282 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹27,148 Cr, each day of that cycle ties up about ₹74.4 Cr, so roughly ₹15,768 Cr is tied up in the business at any time.

FY26: customers took 73 days to pay and stock sat for 282 days, about 9.3 months of sales sitting as stock, for a full cycle of 212 days, longer than FY21's 158.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 282 days. Customers pay about 73 days after that. Suppliers are paid at 142 days. Together that makes the 212-day cycle.

Spending on assets: ₹18,170 Cr over the last 3 years, against ₹3,088 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3,698 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Zydus Lifesciences Ltd's P/E is 24.3×, in the middle of its own history: higher than 68% of past readings. Its usual P/E (the middle reading) is 21.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹44.94.