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Yes Securities Report
Zydus Wellnes Ltd.'s Q3 performance was quite disappointing especially on the growth front owing to sequential market share losses in key brands Complan, Glucon-D and Nycil.
Key reasons cited were high base, rural growth slowdown and planned company and channel inventory reduction by the company.
Few positives were strong double-digit growth in Sugarlite, Nutralite and Everyuth with stable market share.
Sales re-organisation should drive better sales for Nutralite while brand extensions should deliver strong growth for Sugarfree and Glucon-D.
New launches across the portfolio with new product development of several launches in coming quarters and increased focus in modern trade and e-com channel create decent growth visibility for Zydus Wellness.
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