Business Segments

1) US Formulations (51% in Q1 FY25 vs 38% in FY22) The company distributes over 200 generic products in the U.S. market, holding leadership positions in more than 20% of its product families and ranking among the top three in approximately 60% of its products. As the 5th largest generic company in the U.S., it has launched 67 new products between FY23 and Q1 FY25, including Indomethacin suppository and Zituvimet. By FY24, the company had secured 402 product approvals and 460 ANDA filings. Segment revenue grew by 49% from FY22 to FY24, driven by volume expansion and new product launches. [

2) India Business (37% in Q1 FY25 vs 45% in FY22): The segment is split into:
a) Formulations (23% in Q1 FY25 vs 32% in FY22): The company offers branded formulations focused on therapeutic areas including Cardiology, Anti-Diabetes, Respiratory, Gynaecology, GastroIntestinal, Dermatology and super specialty areas of Oncology and Nephrology. Its key brand portfolio includes Vivitra, Exemptia, Atorva, Forglyn, Lipaglyn, Ujvira, etc. The company’s brands were ranked amongst the Top 300 brands of the Indian Pharmaceutical Market during FY24. The segment revenue grew by 12% between FY22 and FY24, as its innovation products registered strong volume growt

b) Consumer Wellness (14% in Q1 FY25 vs 13% in FY22): The company operates in two different segments viz. personal care segment comprising the Nycil and Everyuth brands and food and nutrition segment through the brands Glucon-D, Sugar Free, Complan, and Nutralite. Five out of these six brands hold leadership positions in their respective categories. The segment revenue grew by 16% between FY22 and FY24.

International Markets Formulations

The company's international markets division comprises of the Emerging Markets (selected territories in Asia Pacific, Middle East, Africa and Latin America) and Europe (France, Spain and the UK). It operates in the branded generics segment with Cardiology, Diabetology, Neuro-Psychiatry, and Pain Management in the emerging markets. It has a market share of 7.4% in Sri Lanka with 30 brands ranked first in their respective molecule categories. It is also the 2nd largest company in South Africa and the 9th largest in the Phillippines in the participated market. The segment revenue grew by 34% between FY22 and FY24, driven by strong demand across all key geographies

Financial Highlights

• In Q4 FY25 and FY25, the company achieved strong revenue growth in line with expectations. • During the year, EBITDA was ₹7,058.5 crore, up by 31.1% YoY owing to improved product mix and operating leverage. • In FY25, they incurred a capex of ₹1,214 crore. • As on 31st March 2025, net cash stood at ~₹4,884 crore as compared to ~₹856 crore in 31st March 2024.

BUSINESS HIGHLIGHTS

INDIA • During the quarter, revenue from this region grew by 13% YoY and stood at ₹2,447.5 crore and it outpaced the overall market growth. In FY25, revenue was ₹8,612.5 crore, an increase of 12% YoY. • In Q4 FY25, revenue from formulation business was ~₹1,539 crore an increase of 10.7% YoY led by strong uptick in pillar and innovation brands. The strategic interventions in previous years have enabled the branded formulations business to consistently outperform the market, with a continued focus on strengthening presence in priority therapy areas. • Secondary sales during the quarter grew by ~10% YoY. This performance was primarily fueled by the chronic segment, which delivered higher-than-market growth across key therapies. • In Q4 FY25, the consumer wellness segment reported revenue of ₹908.1 crore, a growth of 17.1% YoY with a volume growth of ~13%. Further, the personal care segment such as Nivea, EverYuth and the food & nutrition segment recorded strong double-digit growth. • They have initiated the development of the world’s first combination vaccine targeting shigellosis and typhoid with the support of Gates Foundation. • The company remains confident in its ability to outperform the market in India in FY26 despite expectations of lower industry growth supported by a robust pipeline of upcoming product launches.

UNITED STATES

• In FY25, revenue from this region stood registered a growth of 27.2% YoY and stood at ₹11,050 crore primarily driven by volume expansion and successful new product launches. • The company aims to strengthen its presence by building a comprehensive portfolio across various dosage forms and therapeutic areas. This will be achieved through a combination of in-house development and strategic partnerships. • During the quarter, the company filed 3 ANDAs (Abbreviated New Drug Application) and launched 5 new products. • They are expanding its specialty footprint in the US by developing a portfolio of 505(B)(2) products and strengthening its presence in the paediatric rare disease segment. Further, the company entered into an exclusive development, licensing, supply and commercialization agreement with Synthon BV, for a novel 505(B)(2) oncology product. • The company received US FDA (Food and Drug Administration) approval to initiate a Phase 2B clinical trial of Usnoflast in patients with ALS (Amyotrophic Lateral Sclerosis). • The management highlighted that the potential impact of US imposed tariffs on pharmaceuticals remains uncertain due to multiple factors, but any tariffs would likely affect operations. In order to mitigate this, the company explores co-development and manufacturing opportunities at third-party locations within the US for select products. • In FY26, the management anticipates single digit growth from this region with several important product launches. • The company has ~14-15 critical product launches in FY27 and does not anticipate a significant decline from FY25 performance, contingent on timely regulatory approvals. Many of these launches involve complex products with potential semi-exclusive or exclusive market opportunities. They remain committed to consistent annual product launches, steadily expanding its portfolio and strengthening its market base.

INTERNATIONAL MARKETS

• During the quarter, revenue from this region grew by 11.8% YoY and stood at ₹554.7 crore. In FY25, the same increased by 13.8% YoY and was ₹2,194.7 crore primarily attributed to solid demand across geographies. • The management highlighted that emerging markets, continued to grow at a strong double-digit rate while also improving profitability and this trend is expected to persist in the future. • Going forward, they are trying to expand the company’s presence in targeted therapy areas across key geographies driven by leveraging the company’s global R&D (research and development) capabilities, with a strong pipeline of differentiated and complex generics as well as specialty product.

FUTURE OUTLOOK

• They are aiming for double-digit revenue growth in FY26, driven by strong performance in India and international markets, along with the expansion of new growth areas like biologics and vaccines. • In FY26, the management envisages EBITDA margin to be ~26.5% owing to pricing pressures, increased competition, a loss of market share in FY25 and higher R&D spending. However, they anticipate gradual margin improvement in the range of ~50-70 bps in the future primarily led by operational efficiency initiatives. Kredent Infoedge Private Limited is a SEBI registered Research Analyst and Investment Advisor. Research Analyst SEBI Registration Number – INH300007493. Investment Advisor SEBI Registration Number – INA000017781. Registered Office Address: J-1/14, Block - EP and GP, 9th Floor, Sector V Saltlake City, Kolkata WB 700091 IN. CIN: U72400WB2006PTC111010 Disclaimer: This document has been prepared to provide a brief summary of the conference call conducted by the companies and is intended to be used for learning enhancements. Nothing contained herein should be construed as a recommendation on any stock or sector.

Zydus Lifesciences Limited 750-890
Expected level 1100
Support 650

Good morning

1949💥🎯🎯

4030 to 4815💥Long term level hit
19% return 😍jackpot

810💥Long term level hit 30% return

5650⚡️

📌 Chaman Lal Setia Exports - Earnings Call Transcript

📑 [Quarter and Financial Year Ended March 31, 2025] Key Developments: Investor/Analysts conference call held on May 29, 2025.
Revenue increased by 11%. Company donated ₹50 lakhs to Prime Minister National Relief Fund. Rice volume around 65,000 tons and Paddy rice over 7,600 tons Stock value is ₹430 crores.

Challenges & Risks: Ocean freight rates had gone up significantly. Prices were 15-20% lower than last year.
Transportation cost has doubled, impacting profitability.

Management Outlook: Target revenue of ₹2,000 crores with new plants.
Expanding to domestic market also but not at lower prices.

Expect good profits.

Good morning

Maruti Suzuki India Company details report

Maruti Suzuki India Limited (formerly known as Maruti Udyog Limited) was established as a joint venture agreement between the Government of India and Suzuki Motor Corporation (SMC), Japan. The company has dominated the Indian passenger vehicle segment for decades. It became a subsidiary of SMC in 2002. SMC currently holds 58.28% of its equity stake. It is a market leader (market share of over 43%) in the passenger vehicle industry in India. It is the largest exporter of passenger vehicles in India. It had a manufacturing capacity 23.5 lakh units p.a in FY24: Gurugram 7,00,000 units p.a, Hansalpur (Gujarat) 7,50,000 units p.a., Manesar plant (Gurugram) 9,00,000 units p.a. Maruti Suzuki commenced production at its new Kharkhoda plant in FY25. Phase 1 adds an annual capacity of 2.5 lakh units, starting with the Brezza compact SUV. With this addition, the company’s total installed capacity, including Suzuki Motor Gujarat, now stands at 26 lakh units per annum. The company exports to over 100 countries presently. It is India's largest exporter of passenger vehicles with a share of ~43% in FY25 (as per Siam). The top 5 countries for exports are South Africa, Saudi Arabia Chile, Mexico, and Philippines. Top five exports models include Dzire, Swift, Baleno, S-Presso & Grand Vitara. Its sales channel include Nexa and Arena. Nexa is premium sales channel targeted at new customer segments and the product portfolio includes Invicto, XL6, Grand Vitara, Jimny, Fronx, Baleno, Ciaz and Ignis. Arena product portfolio includes models like Brezza, Ertiga, Wagon-R, Swift, Dzire, Alto K10, Celerio, S-Presso and Eeco. Commercial product portfolio comprises of Super Carry and Eeco Cargo. The company is already providing smart-hybrid technology in XL-6, Ertiga, S-cross and Brezza. It has 2,987 Arena sales channel and 495 Nexa channel in 2,522 and 301 regions across India, respectively as of 31st March 2024. There are 381 sales channel for commercial vehicles portfolio across 274 regions in India.

#SALES #GROWTH

In FY25, the net sales was ₹1,52,913 cr (of which exports comprised of ~₹21,960 cr) which grew by 7.8% YoY. The sales volume was at 22.3 lakh units v/s 21.4 lakh units in FY24, an increase of 4% YoY. It sold 19 lakh units in domestic market as compared to 18.5 lakh units in FY24 an increase of 2% YoY and in exports markets its sales volume surged by ~18% YoY to 3.3 lakh units. SUVs (domestic) observed an increase of 38% YoY for the year. Rural markets continued to perform better in Q4 FY25 and FY25. In FY24, the net sales stood at ₹1,41,858 cr and increased by 19.8% YoY. It sold 18.5 lakh units in domestic market and 2.8 lakh units in export market thereby registering an expansion of 8.2% and 7.7%, respectively. CNG variant sales totaled ~4.6 lakh units in FY24, marking a YoY growth of 50%, with Ertiga demonstrating strong popularity in the CNG market. Its market share in SUV space stands at 21% currently. Its rural urban mix stands at 46:54.

#EBITDA #GROWTH

In FY25, the EBITDA was ₹20,156 cr and expanded by 9% YoY. The increase can be attributed to better operating leverage, rise in sales and favorable forex. However, for the year, it witnessed an impact of rising steel cost, advertising cost related to Auto Expo 2025 and other expenses. In FY24, the EBITDA grew by 42% YoY and stood at ₹18,526 cr. The increase was led by operating leverage benefits and softening of raw material cost. The per-vehicle discount decreased from ₹23,300 in Q3 FY24 to ₹14,500 in Q4 FY24.

#PAT #GROWTH

PAT for FY25 was ₹14,256 cr and increased by 8% YoY. The increase was on account of rise in sales and other income (₹5,022 cr in FY25 v/s ₹4,094 cr in FY24). In FY24, the net profit increased by 64% YoY and stood at ₹13,234 cr. The rise can be attributed to operating profit expansion and significant increase in other income (₹4,094 cr in FY24 v/s ₹2,141 cr in FY23). Tax rate for FY24 was ~23%.