ZYDUSLIFE

Zydus reported 15% YoY revenue growth in Q1 FY26 with strong US formulations and domestic business. Margins expanded to 22% on improved product mix. The company’s biosimilars and vaccines pipeline offer future growth drivers. Debt remains under control. At ~18x FY26 EPS, valuations are reasonable. Zydus remains a solid pharma pick with balanced growth and profitability.