Transcript of the Earnings Conference call held on August 4, 2026

August 10, 2026 Listing Department Code: 531 335 BSE LIMITED P. J. Towers, Dalal Street, Mumbai–400 001 Listing Department Code: ZYDUSWELL NATIONAL STOCK EXCHANGE OF INDIA LIMITED Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai–400 051 Sub: Transcript of the Earnings Conference call held on August 4, 2026 Dear Sir / Madam, Pursuant to Regulations 30 and 46(2)(oa)(iii) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached Transcript of the Company’s Q1 FY2027 Earnings Conference call held at 3:00 p.m. (IST) on Tuesday, August 4, 2026. Please find the same in order. Yours faithfully, For, ZYDUS WELLNESS LIMITED NANDISH P. JOSHI COMPANY SECRETARY & COMPLIANCE OFFICER Encl. As above “Zydus Wellness Limited Q1 FY27 Results Conference Call” August 04, 2026 MANAGEMENT: MR. GANESH NAYAK – NON-EXECUTIVE DIRECTOR – ZYDUS WELLNESS LIMITED MR. TARUN ARORA – CHIEF EXECUTIVE OFFICER – ZYDUS WELLNESS LIMITED MR. UMESH PARIKH – CHIEF FINANCIAL OFFICER – ZYDUS WELLNESS LIMITED MODERATOR: MR. ANIKET KAMBLE – ICICI SECURITIES Page 1 of 12 Zydus Wellness Limited August 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Zydus Wellness Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Aniket Kamble. Thank you, and over to you, sir. Aniket Kamble: Hi. It's an absolute pleasure from ICICI Securities to co-host the Q1 FY27 earnings call for Zydus Wellness. From the management, we have Mr. Ganesh Nayak, Non-Executive Director; Mr. Tarun Arora, CEO; and Mr. Umesh Parikh, CFO. I now hand over the call to management for further remarks. Thank you, and over to you, sir. Tarun Arora: Thank you. Good evening, and welcome to the post results teleconference of Zydus Wellness Limited for quarter 1 financial year 2026-27. I have with me Mr. Ganesh Nayak, Director; and Mr. Umesh Parikh, CFO, on the call from our side. During the quarter, consumer demand remained resilient with spending increasingly shifting towards higher value products. The premiumization trend continued to strengthen as consumers traded up in categories such as personal care, beauty and packaged foods, supporting value-led growth. Quick commerce and e-commerce remained the primary growth engine, sustaining strong double-digit growth and continuing to gain share across categories. However, seasonal demand was impacted by frequent summer showers across Eastern region and parts of North India in otherwise highly salient geographies, which disrupted the usual summer consumption pattern and softened demand for weather-sensitive brands, particularly Nycil. On the cost front, input trends remained largely manageable despite divergent movements in commodity prices and currency. Company effectively navigated these pressures through disciplined pricing strategy and improved product mix and a continued focus on premium offerings. While ongoing geopolitical disruptions continue to create uncertainty, the impact on the company has remained limited to proactive mitigation measures. Innovation continues to be a key driver of our portfolio growth. During the quarter, we continued to leverage our strong R&D capabilities to expand into new demand spaces, address evolving consumer preferences and strengthen the relevance of our categories through a steady pipeline of differentiated offerings. We strengthened our portfolio with targeted innovations, namely Complan Power Play milkshake, which extends the Complan franchise into ready-to-drink nutrition beverage segment for active kids, combining great taste with essential nutrition and is available in vanilla and chocolate flavours with no added sugar and no preservatives. VieMax Diabetes Care, a scientifically formulated nutrition solution designed to support diabetes management through a low glycemic index and a high-protein, high-fiber formulation Page 2 of 12 Zydus Wellness Limited August 04, 2026 that helps manage blood sugar, promote satiety, support strength and enhances gut wellness. In addition, Comfort Click business continued to expand its portfolio through multiple product launches and range extensions across key categories. Together, these initiatives reflect our continued focus on premium science-led innovation and our commitment to addressing evolving consumer health and wellness needs. On the financial front for quarter 1 financial year 2027, the company reported consolidated net sales of INR 14,299 million, reflecting a growth of 66.7% year-on-year. Our international business, including the Comfort Click business, delivered a like-to-like growth of 24.8% while the domestic business grew by 4.6%. Within the domestic portfolio, Skin and Hair Care and Food & Nutrition continued their strong momentum, delivering growth of 34.5% and 16%, respectively. Seasonal brands, however, declined by 12%, primarily due to softer summer season. Excluding the summer portfolio, all our key brands continued the momentum and cumulatively delivered strong double-digit growth in line with our expectations. With the business becoming less dependent on the summer season, our diversified portfolio continues to support more balanced growth throughout the year. In Q1 FY27, our organized channel saliency reached an industry-leading 38% with modern trade contributing 17% and digital commerce about 21%. Gross margin expansion in the core business remained strong during the quarter and was further supported by significantly higher margin of the Comfort Click business. On the EBITDA front, company reported a growth of 55.3% for the quarter, reaching to INR 2,417 million. Robust improvement in EBITDA percentage of core business as well as Comfort Click business leading to overall EBITDA percentage expansion by approximately 0.4% on a like-to-like basis. Net profit declined by 7% during the quarter. However, net profit, excluding amortization of acquired brands registered a growth of 26.5% for the quarter. Comfort Click business continued to be EPS accretive. Brand performance and market share developments are detailed in the investor presentation. Key highlights include: Complan surpassed the growth posted in the previous quarter despite category degrowth. Everyuth delivered strong double-digit growth with the tan removal franchise continuing to outperform internal expectations. Digital-first consumer engagement expanded the brand's user base, while sustained momentum improved its ranking in the overall facial cleansing category from fifth to fourth rank. Glucon- D registered a double-digit growth in West and South and moderate growth in North, but offset by weakness in the East, a highly salient market due to frequent showers resulting in flattish quarter. Nycil's performance was significantly impacted due to unseasonal rainfall in the North and East, key saliency markets with double-digit growth in West and South, along with cautious channel stocking and slower uptake driven by higher retailer inventory over the last year. Nutralite Page 3 of 12 Zydus Wellness Limited August 04, 2026 delivered strong growth, supported by portfolio strength, innovation, AI-driven consumer engagement and a high double-digit 6-year CAGR. RiteBite Max Protein continued its strong growth trajectory, reinforcing leadership in protein snacking through innovation, expanded distribution and execution excellence, driving robust value, volume and margin growth. Quick commerce remained a key growth driver through continued distribution expansion. Cuticolor witnessed strong demand traction, internal expectations with positive consumer feedback across organized retail [Showing first 8,000 characters — download PDF for full document]