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ICICI Securities Report
Zydus Wellness Ltd.'s Q3 witnessed continued growth as gross revenue grew 16% (volume-led), driven by broad-based strong brand performance.
We believe the acquisition of Heinz India business is transformational for Zydus Wellness, given the increased consumer focus (Covid-19 led) on health and wellness – likely accelerated consumer adoption of more than 70% of the portfolio (Sugar Free, Glucon-D, Nutralite and Complan).
We especially like the new product development strategy aimed to address some key challenges -- SugarLite to address the taste penalty, Sugar Free Green is a natural product, Complan Nutrigro to regain lost medical connect of the brand.
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