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'Buy' Zydus Wellness Shares Maintains ICICI Securities Post Q2 Results — Check Target Price
Zydus’ strategy remains sound, and disciplined execution should drive steady, profitable growth through FY26–27E.
06 Nov 2025, 03:46 PM IST 
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Zydus Wellness' core brands continued to exhibit resilience – Sugar Free retained its leadership with a 96.2% share, and Sugar Free Green delivered doubledigit growth for the 18th consecutive quarter. (Source: Company)
Zydus Wellness' gross margin expanded 515bps YoY to 52.9%, supported by improved mix and operating efficiencies despite seasonal softness. Ebitda stood at Rs 230 million (+17.3% YoY), with Ebitda margin at 3.5% (-45bps YoY), reflecting higher advertising and promotion investments and one-off integration costs from Comfort Click and Naturell.
