Interim report
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November 4, 2026 Listing Department Code: 532321 BSE LIMITED P J Towers, Dalal Street, Mumbai–400 001 Listing Department Code: ZYDUSLIFE NATIONAL STOCK EXCHANGE OF INDIA LIMITED Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai–400 051 Re: Outcome of Board Meeting Ref.: Disclosures under regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”) Dear Sir / Madam, The Board of Directors (“the Board”) at their meeting held today i.e. November 4, 2026, based on the recommendations of Audit Committee, approved the unaudited financial results for the quarter / half year ended on September 30, 2026. In this regard, please find enclosed the following: 1. the unaudited financial results (standalone and consolidated) for the quarter / half year ended on September 30, 2026, reviewed by the Audit Committee and taken on record by the Board pursuant to regulation 33 of the Listing Regulations. 2. the limited review reports of Deloitte Haskins & Sells LLP, Chartered Accountants and the Statutory Auditors of the Company (“Deloitte”) certifying the limited review of the unaudited financial results (standalone and consolidated) of the Company for the quarter / half year ended on September 30, 2026, pursuant to regulation 33 of the Listing Regulations. The Trading Window under SEBI (Prohibition of Insider Trading) Regulations, 2015 shall remain closed for trading till Friday, November 6, 2026, and shall reopen on and from Monday, November 9, 2026, for the Directors and Designated Persons of the Company.
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The financial results and limited review reports will be available on the website of the Company at www.zyduslife.com. The Board meeting commenced at 10:50 a.m. and concluded at 12:10 p.m. Please receive the information and disclosures in order. Thanking you, Yours faithfully, For, Zydus Lifesciences Limited Dhaval N. Soni Company Secretary and Compliance Officer Membership No. FCS7063 Encl.: As above
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Deloitte Haskins & Sells LLP Chartered Accountants 19th floor, Shapath-V S.G. Highway Ahmedabad-380 015 Gujarat, India Tel: +91 79 6682 7300 Fax: +91 79 6682 7400 INDEPENDENT AUDITOR'S REVIEW REPORT ON THE INTERI M STAN DALONE FINANCIAL RES UL TS TO THE BOARD OF DIRECTORS OF ZYDUS LIFESCIENCES LIMITED 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of ZYDUS LIFESCIENCES LIMITED ("the Company"), for the quarter and half year ended September 30, 2026 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations") . 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations; including the manner in which it is to be disclosed, or that it contains any material misstatement. Place: Ahmedabad Date: November 04, 2026 For Deloitte Haskins & Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018) Kartikeya Raval Partner (Membership No. 106189) UDIN: 261.0 61~gW(lWS HJ" 6 S.90 Page 1 of 1 Regd. Office : One International Center, Tower 3, 32nd floor , Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra , India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
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zyd Zydus lifesciences Limited ' ~.11fi:::::t ... dlo t.if, Regi stered Office: Zydus Corporate Park, Scheme No. 63, Survey No. 536 , Khoraj (Gandhinagar), Near Vaishnodevi Circle, Sarkhej- Gandhinagar Highway, Ahmedabad - 382481 Tel. No.: ( +91-79) 4804 0000 Website: www.zyduslife .com CIN : L24230GJ1995PLC025878 Statement of Standalone Unaudited Financial Results for the Quarter and Half Year Ended September 30 2026 INR Million Juarter ended • Half Year ended Year ended 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 Sr. No. Particulars (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Income a Revenue from operations i Sale of products 33,623 27,235 28,088 60,858 53,046 110,764 -ii Other operating revenues 1197 1487 624 2,684 1,549 4 076 iii Total revenue from operations 34,820 28,722 28,712 63,542 54,595 114,840 b Other income (Refer Note-3) 1,646 1,237 5,415 2,883 6,986 16,675 C Total income 36,466 29,959 34,127 66,425 61,581 131,515 2 Expenses a Cost of materials consumed 9,865 8,615 8,908 18,480 17,445 35,307 b Purchases of stock-in-trade 1,326 1,982 445 3,308 1,006 1,977 C Changes in inventories of work-in-progress, finished goods and stock-in-trade (585) (2,167) (923) (2,752) (983) (1,516) d Employee benefits expense 5,544 5,614 4,687 11,158 9,559 19,662 e Finance costs 1,014 1,031 1,138 2,045 2,514 4,829 f Depreciation and amortisation expense 1,554 1,519 1,360 3,073 2,660 5,612 g Other expenses 9,487 9,203 8,034 18,690 14,515 32,443 h Net (gain) on foreign currency transactions (1 379) (395) (3,958) (1 774) (4,320) (12 287) i Total expenses 26 826 25 402 19,691 52 228 42,396 86,027 3 Profit before exceptional items and tax (1-2) 9,640 4,557 14,436 14,197 19,185 45,488 4 Exceptional item (Refer Note-4) 19 - 19 - 1,669 5 Profit before tax (3-4) 9,621 4,557 14,436 14,178 19,185 43,819 6 Tax expenses (Refer Note-5) a Current tax 2,492 1,177 2,817 3,669 3,713 8,998 b Deferred tax (16) 06) 53 (32) 59 (777) C Total tax expenses 2 476 1 161 2 870 3 637 3 772 8,221 7 Net Profit for the period/ year (5-6) 7,145 3,396 11,566 10,541 15,413 35,598 8 Other Comprehensive Income (OCI) a Items that will not be reclassified to profit or loss (216) 213 151 (3) 149 408 b Income tax effect on above items 33 (3) 11 30 23 (121) Total Other Comprehensive Income (183) 210 162 27 172 287 9 Total Comprehensive Income (7 +8) 6,962 3,606 11,728 10,568 15,585 35,885 10 Paid-up equity share capital (Face value Re. 1/-) (Refer Note-8) 998 998 1,006 998 1,006 1,006 11 Other equity 235,711 12 Earnings per share (not annualised for the quarter and half year) a Basic (INR) 7.15 3.38 11.49 10.53 15.32 35.38 b Diluted (INR) 7.15 3.38 11.49 10.53 15.32 35.38 Notes: [1] The above financial results were reviewed and recommended by the Audit Committee and then approved by the Board of Directors at their meetings held on November 4, 2026. [2] These financial results have been prepared in accordance with the Companies [Indian Accounting Standards] Rules, 2015 [Ind AS] as amended, prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and in tenms of Regulation 33 of Securities and Exchange Board of India [Listing Obligations and Disclosure Requirements] Regulations, 2015, as amended. [3] other income includes dividend from subsidiaries and joint ventures, of INR 220 Million for the quarter and half year ended September 30, 2026. During the previous year, the same was INR 4,198 Million for the quarter and half year ended September 30, 2025 and INR 11,033 Million for the year ended March 31, 2026. [4] ExceJtional items comprise: INR Million ' )uarter ended Half Year ended Year ended Sr. 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 No. Particulars (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) a Provision on account of damage to certain assets due to torrential rains at some of the manufacturing 373 373 - - facilities at Ahmedabad [Refer Note-6] b Insurance claim receivables for the losses referred above [Refer Note-6] (354) (354) C Impairment in the value of investment in the shares of Zydus VTEC Limited, a wholly owned subsidiary - - 1,068 d One time impact of New Labour Codes [Refer Note-7] - - 601 . e Total 19 - 19 - 1,669 [SJ For the financial year ended March 31, 2026, the Company had computed the provision for income tax as per the option permitted under section 115BAA of the Income Tax Act, 1961. Accordingly, the Company had recognised provision for income tax for the year ended March 31, 2026 and re-measured its deferred tax assets and liabilities basis the rate prescribed under the said section. The gain on such remeasurement of INR 515 Million was provided in the quarter ended March 31, 2026. Hence, the tax expenses for the current reporting periods are not comparable with previous reported periods. [6] During July 2026, due to torrential rains, operations of some of the manufacturing facilities of the Company located at Al1medabad were impacted. This has caused damage to certain inventories and property, plant and equipment at these facilities. nie Company has lodged claims with the insurance company for estimated loss of INR 373 Million and recognised insurance claim receivable of INR 354 Million. The Company is in the process of assessing any incremental losses and consequent insurance recoveries. The Company has adequate insurance coverage against such losses. [7] Effective November 21, 2025, the Government of India has consolidated 29 existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the "New Labour Codes". The Compan~ has assessed the financial implications of these changes, which had resulted in onetime increase in gratuity and leave encashment liability mainly on account of p~~;~· ,:··cost by INR 601 Million. Such increase was primarily arising due to change in the definition of "wages" for employees and contract labours. The Company continues to monitor1heiiel/J 1Somen . rtainino to the New Labour Codes and the impact, if any, will be accounted in accordance with applicable accountino standards. ,if/I;~,~~:,.,,;-~?~\} , :,.,_ '~''' ["1U ME':JAI "?j ;, .I r i\:, ' ,iti/?' \~>-·•"/\--'.::--~--- ·.\~'/ (! : • ',~~i1~f;~;(· •
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[8J Tl1e Board ot Directors at their meeting held on May l Y, LULb, approved ,the proposal tor buyback ot equity sl1ares, on proportionate basis, througl1 tender offer route, amo~nting to INR 11,000 Million at a price not exceeding INR 1,150 per share [Buyback Price]. Subsequently, as per Regulation 5 [via] of the SEBI [Buy-back of Securities] Regulations, 2018, the Buyback Committee, at its meeting held on May 27, 2026 has approved increase in buyback price from INR 1,150 per share to INR 1,260 per share. Pursuant to buyback, the Company has extinguished 8,730,158 equity shares [representing 0.87% of the total nu111ber of equity shares of the Company] on June 18, 2026, in compliance with tlie applicable rules and regulations. Consequently, the paid up equity share capital has been reduced by INR 8 Million. The aggregate amount paid for the buy back is INR 11,063 Million, including related expenses. [9] Upon completion of conditions precedent and closing date adjustments as specified in the Business Transfer Agreement entered into between the Company and Sterling Biotech Limited [SBL] dated September 17, 2024, the Company has completed the acquisition of the AP! Business of SBL on November 2, 2026. [10] The Company has one segment of activity viz., "Pharmaceuticals". r111 Fiqures of previous reporting oeriods have been reorou"""/ reclassified wherever necessarv to corresoond with the fioures of the current reoortina neriod. B Standalone Statement of Assets and Liabilities Particulars ASSETS 1 Non-current assets a Property, plant and equipment b capital work-in-progress c Other intangible assets d Financial assets i Investments ii Loans iii Other Financial Assets e Other non-current assets f Assets for Current tax (Net) Sub-total - Non-current assets 2 Current assets a Inventories b Financial assets i Investments ii Trade receivables iii cash and cash equivalents iv Bank balance other than cash and cash equivalents v Loans vi Other current financial assets c Other current assets Sub-total - Current assets TOTAL - ASSETS EQUITY AND LIABILmES 1 Equity a Equity share capital b Other equity Sub-total - Equity 2 Non-current liabilities a Financial liabilities i Borrowings ii Lease liabilities iii Other financial liabilities b Provisions c Deferred tax liabilities (Net) Sub-total - Non-current liabilities 3 Current liabilities a Financial liabilities i Borrowings ii Lease liabilities iii Trade payables - Due to Micro and Small Enterprises - Due to other than Micro and Small Enterprises iv Other financial liabilities b Other current liabilities c Provisions d Current tax liabilities (Net) Sub-total - Current liabilities TOTAL - EQUITY AND LIABILITES . INR Million As at As at 30/09/2026 31/03/2026 /Unaudited) /Audited\ 49,543 50,112 9,498 6,212 624 727 98,739 72,731 43,732 43,299 127 127 3,931 2,803 617 267 206,811 176,278 27,316 21,778 10,758 42,050 73,441 84,949 1,680 3,270 4,776 4,072 516 308 2,528 632 5 785 S 459 126,800 162,518 333,611 338,796 998 1,006 234 226 235 711 235,224 236,717 42,813 42,329 98 103 364 320 2,698 2,601 738 800 46 711 46 153 26,790 31,982 9 9 787 870 15,308 13,855 3,624 4,098 2,123 1,853 2,359 1,356 676 1,903 51676 55 926 333,611 338,796
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unauc11tea Sta ndal one Statement of cas I1 Flows INR Million Half year ended Particulars 30/09/2026 30/09/ 2025 Cash flows from operating activities: Profit before tax Adjustments for: Depreciation and amortisation expense Exceptional items [Refer Note-4] Loss on disposal of Property, Plant and Equipment [Net] FVTPL gain/ profit on sale of investments [Net] Interest income Dividend income Interest expenses Net loss on Fair Valuation of Swap Contract Effect of foreign exchange movement Expected credit loss on trade receivables (Net] Allowance for doubtful advances [Net of written back) Provision for employee benefits Provision for claims for product expiry and return of goods (Net of written back) Total Operating profit before working capital changes Adjustments for: Decrease/ [Increase] in trade receivables [Increase] in inventories [Inrease] in other assets Increase in trade payables [Decrease] in other liabilities Total cash generated from operations Income taxes paid [Net of refunds] Net cash from operating activities Cash flows from investing activities: Purchase of property, plant and equipment and intangible assets [including payment towards capital work-in-progress, intangible asset under development and capital advances] Proceeds from disposal of property, plant and equipment and intangible assets Purchase of non current invesbnents in subsidiaries Purcl1ase of non current investments - other than subsidiaries Proceeds from redemption of non current investments in others Change in Bank balances (including fixed deposits) not considered as cash and cash equivalents Proceeds from/ purchase of current investments [Net] Loans to subsidiaries Repayment of loans by subsidiaries Interest received Dividend received Net cash [ used in]/ frorn investing activities Cash flows from financing activities: Proceeds from non current borrowings Repayment of non current borrowings Buyback of equity shares [including tax and transaction costs] Current borrowings [Net - Proceeds/ (Repayment)] Lease liabilities [Net] Interest paid Dividends paid Net cash [used in] financing activities Net [decrease] in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Additional Information : Summarv of cash and cash equivalents, Bank balance, Current Investments and Fixed Deposits more than 12 months: 14,178 19,185 3,073 2,660 19 7 25 (22) (398) (2,516) (2,394) (232) (4,208) 2,03-1 2,500 207 226 2,936 (3,734) (17) 318 - (1) 294 256 740 66 6,520 (4,684) 20,698 14,501 8,216 (969) (5,911) (77) (716) (1,323) 602 712 (137) (583) 2 054 (2 240) 22,752 12,261 (5,246) (7,701) 17,506 4,560 (6,915) (4,427) 52 46 (3,006) (2,681) (59) (25) • 325 (704) 8,106 14,115 (1,019) (3,430) 1,023 5,447 1,754 2,508 232 4183 (211) 15,736 950 19,452 (5,716) (21,785) (11,063) 8 (4,316) (10) (9) (2,056) (2,947) (998) (11 057) (18,885) (20 662) (1,590) (366) 3,270 1,030 1,680 664 Particulars 30/09/2026 30/09/2025 a cash and cash equivalents b Bank balance other tl1an cash and cash equivalents c Current Investments d Fixed Deposits more t11an 12 month's maturity e Total Ahmedabad, November 4, 2026 1,680 4,776 10,758 2 17,216 664 411 28,648 1 29,724 By Order of the Board, ~·'"~!"-~ Dr. h rvil P. Patel Ma aging Director DIN: 00131995
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Deloitte Haskins & Sells LLP INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF ZYDUS LIFESCIENCES LIMITED Chartered Accountants 19th floor, Shapath-V S.G. Highway Ahmedabad-380 015 Gujarat, India Tel: +91 79 6682 7300 Fax: +91 79 6682 7400 l. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of ZYDUS LIFESCIENCES LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income of its joint ventures for the quarter and half year ended September 30, 2026 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and mec1surement principles l<;1id down in the Indian . Accounting Standard. 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations . Our responsibility is to express a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; to the extent applicable. 4. The Statement includes the results of the entities listed in the Annexure to this report. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including ~l~~~Js~~~ the manner in which it is to be disclosed, or that it contains any material misstatement. g ~\ t Ji)) r Page 1 of 5 C?~ llfo A(OJ.~? "=....,;.;;.,,9 . 'gcf Office: One International Center, Tower 3, 32nd floor, Sena pa ti Ba pat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra , India. Deloitt e Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
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Deloitte Haskins & Sells LLP 6. We did not review the interim financial information of 59 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total assets of Rs 4,64,392 Million as at September 30, 2026, total revenues of Rs 60,486 Million and Rs 1,23,014 Million for the quarter and half year ended September 30, 2026 respectively, total net loss after tax of Rs 4,762 Million and Rs 5,776 Million for the quarter and half year ended September 30, 2026 respectively and total comprehensive loss of Rs 4,762 Million and Rs 5,777 Million for the quarter and half year ended September 30, 2026 respectively and net cash outflows of Rs 997 Million for the half year ended September 30, 2026, as considered in the Statement. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of these matters. 7. The consolidated unaudited financial results includes the interim financial information of 37 subsidiaries which have not been reviewed by their auditors, whose interim financial information reflect total assets of Rs 67,838 Million as at September 30, 2026, total re\,'.enue of Rs 5,430 Million and Rs 9,264 Mill.ion for the quarter and half year ended September 30, 2026 respectively, total profit/(loss) after tax of Rs 219 Million and Rs (425) Million for the quarter and half year ended September 30, 2026 respectively and total comprehensive income of Rs 1,308 Million and Rs 690 Million for the quarter and half year ended September 30, 2026 respectively and net cash inflows of Rs 1,154 Million for the half year ended September 30, 2026, as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of profit after tax of Rs 275 Million and Rs 653 Million for the quarter and half year ended September 30, 2026 and total comprehensive income of Rs 275 Million and Rs 653 Million for the quarter and half year ended September 30, 2026, as considered in the Statement, in respect of 4 joint ventures, based on their interim financial information which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group . Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management. Place: Ahmedabad Date: November 04, 2026 For Deloitte Haskins & Sells LLP Chartered Accountants · (Firm's Registration No. 117366W/W-100018) Kartikeya Raval Partner (Membership No. 106189) UDIN: 26!1.061~9 YX§WP,,X 358 8 Page 2 of 5
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Deloitte Haskins & Sells LLP ANN EXUR E TO TH E IND EPEND ENT AUDITOR 'S REPORT : The Pa rent 1. Zydus Lifesciences Limited List of Sub sidia ries 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30 . 31. 32. 33 . 34 . 35 . 36. 37. 38. 39. 40. 41. 42 . 43. 44. 45. 46. SentynlTherapeuLicslnc Zydus Animal Health and Investments Limited Zydus Healthcare (USA) LLC Zydus Healthcare Limited Zydus Healthcare Philippines Inc. Zydus International Private Limited Zydus (Lanka) Private Limited Zydus Pharmaceuticals (USA) Inc. Zydus Wellness Limited Zydus Worldwide DMCC Dialforhealth Greencross Limited Dialforhealth Unity Limited Zydus Pharmaceuticals Limited Zydus Strategic Investments Limited Zydus VTEC Limited Zynext Ventures PTE. LTD. Zydus Pharmaceuticals UK Limited Zydus Pharmaceuticals ca·nada Inc . Zydus Lifesciences Global FZE Viona Pharmaceuticals Inc ., USA Violio Healthcare Limited Biochem Pharmaceutical Private Limited Zydus Medtech Private Limited Zydus MedTech (France) SAS German Remedies Pharmaceuticals Private Limited M/s. Recon Pharmaceuticals and Investments Zydus Pharmaceuticals Mexico SA De CV Zydus Pharmaceuticals Mexico Services Company SA De C.V. ZyVet Animal Health Inc [USA] Liva Nutritions Limited Zydus Wellness Products Limited Zydus Wellness International DMCC Zydus Wellness BD Private Limited Naturell (India) Private Limited (Under liquidation) Naturell Inc . (USA) Alidac Healthcare Myanmar Limited Etna Biotech S.R.L. (Under liquidation) Zydus France SAS Zydus Healthcare S.A. (Pty) Ltd. Zydus Netherland B. V Zydus Therapeutics Inc. Script Management Services (Pty) Ltd . Ali_dac Pharmaceuticals SA (Pty) Ltd . Laboratorios Combix S.L. Zydus Nikkho Farmaceutica Ltda. Zvnext Ventures USA LLC USA Page 3 of 5
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Deloitte Hask ins & Sells LLP 47. LiqMeds Worldwide Limited 48. LiqMeds Limited 49. Medsolutions (Europe) Limited 50. LiqMeds Lifecare Limited 51. LM Manufacturing Limited 52. LM Manufacturing India Private Limited 53. Amplitude Surgical SAS [France] 54. Amplitude Orthopedics Corporation [USA] 55. Amplitude Australia Pty Ltd [Australia] 56. Amplitude South Africa Pty Ltd [South Africa] 57. Amplitude Latin America SA [Brazil] 58. Amplitude SAS [France] 59. SCI Les Tilleuls [France] 60. SCI SOFAB FALLA [France] 61. Amplitude Ile de France [France] 62. Duotech Amplitude SAS [France] 63. Amplitude Sud SAS [France] 64. Amplitude Nord SAS [France] 65. Amplitude New Zealand Limited [New Zealand] 66. Ortho Sante (Amplitude Quest) [France] 67. Amplitude Benelux [Belgium.] 68. Amplitude Suisse SA [Switzerland] 69. Amplitude GmbH [Germany] 70. Mediconseil [France] 71. Alidac UK Limited [UK] 72. Comfort Click UK [UK] 73 . . Comfort Click Limited [Ireland] 74. Comfort Click LLC [USA] 75 . Comfort Click Softech Private Limited 76. Zylidac Bio LLC [USA] 77. FBC Medical [France] (w.e.f. April 30, 2026) 78. Aptitude Orthopedie [France] (w.e.f . April 30, 2026) 79. Zydus Wellness (EU) Limited [Ireland] (w.e.f. June 23, 2026) 80. Zydus Wellness Trading LLC [Dubai] (w.e.f. June 24, 2026) 81. Zydus Wellness General Trading DWC-LLC [Dubai] (w.e.f. June 30, 2026) 82 . Zara Merger SUB Inc. [USA] (w.e.f. April 24, 2026 till June 16, 2026) 83. Assertio Holdings Inc. [USA] (w.e.f. June 16, 2026) 84 . Zyla Life Sciences Limited [USA] (w.e.f. June 16, 2026) 85 . Zyla Life Sciences US LLC [USA] (w.e.f. June 16, 2026) 86 . Assertio Specialty Pharmaceuticals LLC [USA] (w.e.f. June 16, 2026) 87. Asio Holdings LLC [USA] (w.e.f. June 16; 2026) 88. Depo DR Sub LLC [USA] (w.e.f. June 16, 2026) 89. Spectrum Pharmaceuticals Inc. [USA] (w.e.f. June 16, 2026) 90. Spectrum Pharmaceuticals Internatio'nal Holdings LLC [USA] (w.e.f. June 16, 2026) 91. Allos Therapeutics Inc. [USA] (w.e.f. June 16, 2026) 92 . Talon Therapeutics Inc. [USA] (w.e.f. June 16, 2026) 93 . Assertio Distribution LLC [USA] (w.e.f. June 16, 2026) 94. Assertio Management LLC [USA] (w.e.f. June 16, 2026) 95. Alligator IP LLC [USA] (w .e.f. June 16, 2026) 96. Spectrum Oncology Private Limited (w.e.f. June 16, 2026) (under liquidation) 97. Zydus Global Treasury Centre IFSC Limited (w.e.f. August 25, 2026) Page 4 of 5
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Deloitte Haskins & Sells LLP- List of Joint Ventures 1. Zydus Hospira Oncology Private Limited 2. Zydus Takeda Healthcare Private Limited 3. Oncosol Limited 4. Sterling Biotech Limited Page 5 of 5
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.i'•/dfi1-.., Lyaus uresc1ences L1m1tea .. '.;1.·,., Registered Office: Zydus Corporate Park, Scheme No. 63, Survey No. 536, Khoraj (Gandhinagar), Near Vaishnode vi Circle, Sarkhej- Gandhinagar Highway, Ahmedabad - 382481 Tel: No .: (+91-79) 4804 0000 Website: www.zyduslife.com CIN : L24230GJ1995PLC025878 Statement of Consolidated Unaudited Financial Results for the Quarter and Half Year Ended Seotember 30, 2026 INR Million uarter ended Half Year ended Year ended 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 Sr. No. Particulars (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Income a Revenue from operations i Sale of products 77,544 78,020 60,379 155,564 125,049 267,197 ii Other operating revenues 1 552 2,150 853 3,702 1,920 4 287 iii Total revenue from operations 79,096 80,170 61,232 159,266 126,969 271,484 b Other income 1,299 1,061 1 090 2 360 2 639 5,095 C Total income 80,395 81,231 62,322 161,626 129,608 276,579 2 Expenses a Cost of materials consumed 13,871 12,512 13,271 26,383 25,460 51,096 b Purchases of stock-in-trade 12,602 12,892 5,891 25,494 12,473 30,705 C Changes in inventories of work-in-progress, finished goods and stock-in-trade (4,929) (3,006) (2,257) (7,935) (3,133) (8,875) d Employee benefits expense 13,571 13,682 10,342 27,253 20,394 44,179 e Finance costs 1,870 1,560 1,013 3,430 1,860 4,389 f Depreciation and amortisation expense 6,045 5,300 3,003 11,345 5,384 13,431 g Other expenses 26,402 25,365 17,968 51,767 35,444 82,433 h Net (gain) on foreign currency transactions (1366) (569) (4,141) (1,935) (4,712) (12 805) i Total expenses 68,066 67,736 45 090 135,802 93 170 204 553 3 Profit before share of profit of joint ventures, exceptional items and tax (1-2) 12,329 13,495 17,232 25,824 36,438 72,026 4 Sl1are of prom of joint ventures (net of tax) 275 378 52 653 396 971 5 Profit before exceptional items and tax (3+ 4) 12,604 13,873 17,284 26,477 36,834 72,997 6 Exceptional items (Refer Note·4) (13) 182 342 169 342 5,166 7 Profit before tax (5-6) 12,617 13,691 16,942 26,308 36,492 67,831 8 Tax expenses (Refer Note-5) a Current tax 4,987 3,759 3,788 8,746 6,095 13,795 b Deferred tax (1 647) (176) 745 (1823) 2 778 2,254 C Tota I tax expenses 3 340 3 583 4 533 6 923 8,873 16,049 9 Net profit before non-controlling interests (7-8)° 9,277 10,108 12,409 19,385 27,619 51,782 10 Non-controlling interests 22 504 (200) 526 342 835 11 Net profit for the period/ year (9-10) 9,255 9,604 12,609 18,859 27,277 50,947 12 Other Comprehensive Income (OCI) ai Items that will not be reclassified to profit or loss 887 263 195 1,150 164 (329) a ii Income tax effect on above items 28 (8) 2 20 19 (135) bi Items that will be reclassified to profit or loss (905) (584) (2,966) (1,489) (2,878) (7,265) b ii Income tax effect on above items - C Share of OCI of joint ventures (net of tax) - 25 14 d Total Other Comprehensive Income before non-controlling interests 10 (329) (2,744) (319) (2,695) (7,715) e Non-controlling interests 30 (47' (17) (21) f Total Other Comprehensive Income (20) (282) (2,744) (302) (2,695) (7,694) 13 Total Comprehensive Income (9+12 d) 9,287 9,779 9,665 19,066 24,924 44,067 14 Total Comprehensive Income attributable to: Owners of the Company 9,235 9,322 9,865 18,557 24,582 43,253 Non-controlling interests 52 457 (200) 509 342 814 15 Paid-up equity share capital (Face value Re. 1/-) (Refer Note-16) 998 998 1,006 . 998 1,006 1,006 16 Other equity 270,688 17 Earnings per share (not annualised for the quarter and half year) i Basic (INR) 9.28 9.56 12.53 18.84 27.11 50.63 ii Diluted (INR) 9.28 9.56 12.53 18.84 27.11 50.63
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Segment Information: INR Million Quarter ended Half Year ended Year ended . 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/Q3/2026 Sr. No. Particulars (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Segment revenue: a Pharmaceuticals 65,582 62,981 53,211 128,563 110,354 b Consumer products 11,257 14,359 6,489 25,616 15,064 C Medical technologies 2,257 2,830 1,532 5,087 1,551 d Total revenue from operations 79,096 80,170 61,232 159,266 126,969 2 Segment results: a Pharmaceuticals 13,186 12,452 17,749 25,638 36,262 b Consumer products 71 1,613 (172) 1,684 1,262 C Medical technologies (928) (570) (345) (1,498) (1,086) d Profit before share of profit of joint ventures, exceptional items and tax 12,329 13,495 17,232 25,824 36,438 3 Segment assets: a Pharmaceuticals 388,425 390,479 311,914 388,425 311,914 b Consumer products 103,508 104,575 98,783 103,508 98,783 C Medical technologies 64,136 63,727 59,309 64,136 59,309 d Total assets 556,069 558,781 470,006 556,069 470,006 4 Segment liabilities: a Pharmaceuticals 143,902 154,114 91,873 143,902 91,873 b Consumer products 44,386 45,200 41,735 44,386 41,735 C Medical technologies 64,553 64,338 55,446 64,553 55,446 d Total liabilities 252,841 263,652 189,054 252,841 189,054 Notes: [1] The above consclidated financial results, relate to Zydus Lifesciences Limited [the Parent], its Subsidiaries [together referred as the Group] and Joint Ventures, are prepared by applying Ind AS 110 "Consolidated Financial Statements" and Ind AS 28 "Investments in Asscciates and Joint Ventures". [2] The above financial results were reviewed and recommended by the Audit Committee and tl1en approved by the Board of Directors at their meetings held on November 4, 2026. [3] These financial results have been prepared in accordance with the Companies [Indian Accounting Standards] Rules, 2015 [Ind AS] as amended, prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and in terms of Regulation 33 of Securities and Exchange Board of India [Listing Obligations and Disclosure Requirements] Regulations, 2015, as amended. [4] ExceJtional items comprise: INR Million 224,121 39,540 7,823 271,484 70,488 2,671 (1,133) 72,026 357,983 103,062 64,041 525,086 119,684 44,790 64,210 228,684 )uarter ended Half Year ended Year ended Sr. No. 30/09/2026 30/06/2026 30/09/2025 30/09/2026 30/09/2025 31/03/2026 Particulars (Unaudited} (Unaudited} (Unaudited} (Unaudited} (Unaudited) (Audited) a Provision on account of damage to certain assets due to torrential rains at some of the manufacturing facilities at Ahmedabad [Refer Note-6] b Insurance claim receivables for the losses referred above [Refer Note-6] c Provision for severance compensation due to rightsizing of operations at Assertio Holdings, Inc. d Provision for amount payable pursuant to settlement of class action antitrust lawsuits by Zydus Pharmaceuticals Inc. [Refer Note-7] e Receipt of amount pursuant to settlement of a litigation related to an Asset Purchase Agreement entered into by Zydus Worldwide DMCC with Teva Pharmaceutical Industries Ltd. [Refer Note-8] f One time settlement payment [Refer Note-9] g One time impact of New Labour Codes [Refer Note-10] h Expenses related to acquisition of Comfort Click Limited [Refer Note-11] Expenses related to liquidation of Naturell (India) Private Limited, a subsidiary on a going concern basis [Refer Note-12] j Total 396 (376) (33) - - - (13) 396 (376) 1,091 1,058 559 559 (1,468} (1,468} - 245 245 97 97 182 342 169 342 [5] a For the financial year ended March 31, 2026, the Parent had computed the provision for income tax as per the option permitted under section 115BAA of the Income Tax Act, 1961. Accordingly, the Parent had recognised provision for income tax for the year ended March 31, 2026 and re-measured its deferred tax assets and liabilities basis the rate prescribed under the said section. The gain on such remeasurement of INR 515 Million was provided in the quarter ended March 31, 2026. Hence, the tax expenses for the current reporting periods are not comparable with previous reported periods. b Deferred tax expense for the quarter ended September 30, 2025, half year ended September 30, 2025 and year ended March 31, 2026, include a net reversal of Minimum Alternate Tax [MAT] credit entitlement amounting to INR (21) Million, INR 125 Million and INR 354 Million respectively by one of the subsidiaries of the Group. Deferred tax expense for the year ended March 31, 2026 includes recognition of MAT credit entitlement amounting to INR 191 Million by one of the subsidiaries of the Group. (6] During July 2026, due to torrential rains, operations of some of the manufacturing facilities of the Group located at Ahmedabad were impacted. This has caused damage to certain inventories and property, plant and equipment at these facilities. The Group has lodged claims with the insurance company for estimated loss of INR 396 Million and recognised insurance claim receivable of -INR 376 Million. The Group is in the process of assessing any incremental losses and consequent insurance recoveries. The Group has adequate insurance coverage against such losses. [7] Zydus Pharmaceuticals USA, Inc. [ZPUI], a wholly owned subsidiary, has reached in-principle agreement to resclve four class action antitrust lawsuits brought by Indirect Reseller Plaintiffs. The plaintiffs alleged that numerous pharmaceutical manufacturers, including ZPUI, engaged in anti-competitive behaviour. The settlement contains no admission of liability or wrongdoing by ZPUI. ZPUI remains committed to conducting its business in full compliance with all applicable laws. Resclving these matters allows ZPUI to focus on its mission and ongoing business operations. [8] Zydus Worldwide DMCC [ZWD], a wholly owned subsidiary of the Group, has entered into settlement agreement with Teva Pharmaceutical Industries Ltd. and Teva AP! Inc. [jointly referred to as Teva Parties] for ongoing litigation related to breach of obligation under Asset Purchase Agreement dated June 16, 2016 and breach of obligation under Letter of Intent dated May 24, 2016 for supply of Active Pharmaceuticals Ingredients. Pursuant to the settlement, the Teva Parties have paid a total amount of INR 1,468 Million [USO 15.5 Million] to ZWD. [9] On February 10, 2026, ZPUI, a wholly owned subsidiary, and the Parent entered into a Settlement and License Agreement with Astellas Pharma Inc. [Astellas] in relation to Astellas' Myrbetriq® [generic name: Mirabegron] and agreed to pay INR 10,600 Million [USO 120 Million]. _Accordingly, ZPUI had paid INR 3,975 Million [USO 45 Million] towards one tim_e settlement cost and INR 6 625 Million ruso 75 Millionl towards prepaid licensinq fees, which had been capitalised. 3,975 849 245 97 5,166
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(10] Effective November 21, 2025, the Government of India has consol!dated 29 existing labour legislations into a unified framework comprising four Labour Codes collectjvely referred to as the "New Labour Codes". The Group has assessed the financial implications of these changes, which had resulted in one time increase in gratuity and leave encashment liability mainly on account of past service cost by INR 849 Million. Such i_ncrease was primarily arising due to cl1ange in the definition of "wages" for employees and contract labours. TI1e Grou_p continues to monitor the developments pertaining to the New Labour Codes and the impact, if any, will be accounted in accordance with applicable accounting standards. (11] Pursuant to the Share Purchase Agreement [SPA] entered into by Alidac UK Limited [Alidac], a wholly owned subsidiary of Zydus Wellness Limited [ZWL], on August 29, 2025, to acquire Comfort Click Limited [CCL], Alidac had successfully completed the acquisition of CCL on August 29, 2025. Alidac acquired 100% outstanding ordinary shares of Class A and Class B, 71.43% of non-controlling ordinary shares of Class C and 66.67% of non-controlling ordinary shares of Class D of CCL. The cost of acquisition was GBP 239 Million alongwith a profit ticker payment of GBP 2.64 million, in accordance with the terms of SPA. The results include the operations of CCL effective from August 29, 2025. (12] Pursuant to the voluntary liquidation process, as approved in extra ordinary general meeting of Naturell (India) Private Limited [NIPL] on July 1, 2025, effective from September 20, 2025, the Liquidator of NIPL has distributed the Business Undertaking of NIPL on a going concern basis to ZWL. (13] Pursuant to the acquisition of 85.6% of share capital of Amplitude Surgical SA, France (Amplitude] by Zydus MedTech (France) SAS [ZMF] on July 29, 2025 from PAI Partners and certain other sharel1olders through share purchase agreements and pursuant to acquisition of b~lance share capital of Amplitude by ZMf from remaining shareholders by October 24, 2025 through a simplified mandatory tender offer and subsequent squeeze-out, Amplitude became wholly owned subsidiary of ZMF. The cost of acquisition was EUR 300 Million. The results include the operations of Amplitude effective from July 29,. 2025. With respect to the above business combination, during the current quarter the Group has completed the Purcl1ase Price Allocation [PPA] within t11e measurement period mentioned in Ind AS 103 - "Business Combination". Adjustments have been made upon the finalisation of PPA and previous periods' numbers have been updated as per Ind AS 103 as below: Consolidated statement of Assets and Liabilities: Purchase consideration as per Ind AS 103 Fair value of identifiable net assets acquired Goodwill Statement of consolidated Profit and Loss: Updated values of net profit for the period Reported values of net profit for the period INR Million Updated values as at 31/03/2026 25,698 14,374 11,324 Quarter ended 30/06/2026 9,604 9,398 Provisional values as at 31/03/2026 25,698 14,269 11,429 Quarter ended 30/09/2025 12,609 12,586 Half year Year ended ended 30/09/2025 31/03/2025 27,277 50,947 27,254 50,400 [14] Zylidac Bio LLC [Zylidac], USA, a wholly owned subsidiary, had entered into Definitive Agreement with Agenus West LLC, and Agenus Inc., USA [collectively referred to as "Agenus'1, to acquire, two U.S. based biologics manufacturing facilities of Agenus, one in Emeryville, CA and another in Berkeley, CA [collectively referred to as "Agenus Facilities'1, The transaction had been completed on January 15, 2026. The cost of acquisition is USD 75 Million as upfront consideration, subject to certain closing adjustments, and contingent payment of up to USD 50 Million over three years subject to achievement of certain revenue milestones. The results include the operations of Agenus Facilities effective from January 15, 2026, with provisional PPA figures. The PPA figures will be finalized within the rneasurement period, as provided by Ind ·AS 103. (15] On May 13, 2026, ZWD, a wholly owned subsidiary, had signed a definitive agreement, through its wholly owned acquisition subsidiary Zara Merger Sub Inc. [Zara], with Assertio Holdings, Inc. (Assertio], to acquire all outstanding shares of Assertio for USD 23.50 per share in cash for consideration of approximately USD 166.4 Million on a fully-diluted basis, by cash tender offer. The transaction of the cash tender offer, by Zara for all the outstanding common stock of Assertio, has been completed on June 16, 2026. Subsequently, Zara was merged with and into Assertio, pursuant to which Assertio has become a wholly owned subsidiary of the Group. The results include tl1e operations of Assertio effective from June 16, 2026, with provisional PPA figures. The PPA figures will be finalized within the measurement period, as provided by Ind AS 103. (16] The Board of Directors at their meeting held on May 19, 2026, approved the proposal for buyback of equity shares, on proportionate basis, through tender offer route, amounting to INR 11,000 Million at a price not exceeding INR 1,150 per share [Buyback Price]. Subsequently, as per Regulation 5 [via] of the SEBI [Buy-back of Securities] Regulations, 2018, the Buyback Committee, at its meeting held on May 27, 2026 has approved increase in buyback price from INR 1,150 per share to INR 1,260 per share. Pursuant to buyback, the Parent has extinguished 8,730,158 equity shares [representing 0.87% of the total number of equity shares of the Parent] on June 18, 2026, in compliance with the applicable rules and regulations. Consequently, the paid up equity share capital has been reduced by INR 8 Million. The aggregate amount paid for tl1e buy back is INR 11,063 Million, including related expenses. (17] Upon completion of conditions precedent and closing date adjustments as specified in the Business Transfer Agreement entered into between the Parent and Sterling Biotech Limited [SBL] dated September 17, 2024, the Parent has completed the acquisition of the AP! Business of SBL on November 2, 2026. [18] Figures of previous reporting periods/ year have been regrouped/ reclassified wherever necessary to correspond with the figures of the current reporting periods. [19] The detailed standalone results are available on the Company's website: www.zyduslife.com, on the website of BSE [www.bseindia.com] and on the website of NSE [www.nseindia.com]. The summarised standalone financial results of the Company are as below: INR Million Quarter ended Half Year ended Year ended Revenue from operations Profit before exceptional items and tax Profit before Tax Profit after Tax Particulars 30/09/2026 (Unaudited) 34,820 9,640 9,621 7,145 30/06/2026 30/09/2025 (Unaudited) (Unaudited) 28,722 28,712 4,557 14,436 4,557 14,436 3,396 11,566 30/09/2026 30/09/2025 31/03/2026 (Unaudited) (Unaudited) (Audited) 63,542 54,595 114,840 14,197 19,185 45,488 14,178 19,185 43,819 10,541 15,413 35,598
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Consolidated Statement of Assets and Liabilities INR Million Asat As at 30/09/2026 31/03/202 6 • Particulars (Unaudited) (Audited) A ASSETS 1 Non-current assets a Property, plant and equipment 92,762 92,307 b capital work-in-progress 16,358 11,657 c Goodwill 78,179 75,310 d Other intangible assets 80,041 72,281 e Intangible assets under Development 26,000 27,508 f Investments accounted for using equity met11od 12,319 li,666 g Financial assets i Investments · 34,519 5,975 ii Loans 17 2 iii Other Financial Assets 348 344 h Deferred Tax Assets (Net) 21,234 21,086 i Other non-current assets 8,172 6,842 j Assets for Current tax (Net) 1,785 1,047 Sub-total - Non-current assets 371,734 326,025 2 Current assets a Inventories 68,822 56,281 I b Financial assets i Investments 36,641 57,758 ii Trade receivables 43,807 54,157 iii cash and cash equivalents 6,692 8,552 iv Bank balance other than cash and cash equivalents 8,826 5,614 v Loans 47 37 vi Other current financial assets 4,345 2,169 c Other current assets 15 155 14 493 Sub-total - Current assets 184,335 199,061 TOTAL - ASSETS 556,069 525,086 B EQUITY AND LIABILITIES 1 Equity a Equity share capital 998 1,006 b Other equity 277 175 270 688 c Equity attributable to equity holders of the Company 278,173 271,694 d Non-Controlling Interest 25,055 24,708 Sub-total - Equity 303 228 296 402 2 Non-current liabilities a Financial liabilities i Borrowings 41,062 31,880 ii Lease liabilities 6,581 6,683 iii Other financial liabilities 1,936 10,764 b Provisions 4,630 4,453 c Deferred tax liabilities (Net) 18,395 17,780 d Other Non-Current Liabilities 2 5 Sub-total - Non-current liabilities 72 606 71 565 3 Current liabilities a Financial liabilities I Borrowings 91,434 85,815 ii Lease liabiliti es 587 582 iii Trade payables - Due to Micro and Small Enterprises 1,445 1,540 - Due to other than Micro and Small Enterprises 28,131 26,911 iv Other financial liabilities 42,573 29,046 b Other current liabilities 5,756 4,777 c Provisions 6,348 4,785 d Current tax liabilities (Net) 3,961 3,663 Sub-total - Current liabilities 180 235 157 119 TOTAL - EQUITY AND LIABILITES 556 069 525,086
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Unaudited Consolidate d Statem ent of Cash Flow s Cash flows from operating activities: Profit before tax Adjustments for: Particulars Depreciation and amortisation expense Exceptional items [Refer Note-4] Loss on disposal of Property, Plant and Equipme11t [Net] FVTPL gain/ profit on sale of investments [Net] Interest income Dividend Income Interest expenses Share of profit of Joint Ventures [Net of Tax] Change in financial liability related to contingent consideration Net loss on Fair Valuation of Swap Contract Exchange rate fluctuation and other related adjustments arising on Consolidation Trade receivables written off Expected credit loss on trade receivables [Net] Allowance for doubtful advances [Net of written back] Provision for employee benefits Provision for claims for product expiry and return of goods [Net of written back] Total Operating profit before working capital changes Adjustments for: Decrease/ [Increase] in trade receivables [Increase]/ Decrease in inventories Decrease/ [Increase] in other assets [Decrease] in trade payables Increase/ [Decrease] in other liabilities Total cash generated from operations Income taxes paid [Net of refunds] Net cash from operating activities Cash flows from investing activities: Purchase of property, plant and equipment and intangible assets [including payment towards capital work-in-progress, intangible asset under development and capital advances] Proceeds from disposal of property, plant and equipment and intangible assets Payment for acquisition of businesses Payment for contingent consideration Purchase of non current investments Proceeds from sale of non current investments Change in Bank balances (including fixed deposits) not considered as cash and cash equivalents Purchase of current investments [Net] Loans to others [Net] Interest received Dividend received Net cash [used in] investing activities Cash flows from financing activities: Proceeds from non current borrowings Repayment of non current borrowings Current borrowings [Net - Proceeds/ (Repayment)] Buyback of equity shares [including tax and transaction costs] Lease liabilities [Net] Interest paid Dividends paid Net cash [used in]/ from financing activities Net [decrease] in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents of the acquired subsidiaries Effect of foreign exchange rate changes on cash and cash equivalents Cash and cash equivalents at the end of the period Additional Information : INR Million Half year ended 30/09/2026 30/09/2025 26,308 11,345 579 10 (86) (2,427) (13) 2,852 (653) 491 207 (1,485) 11 (99) 9 351 1 206 12,298 38,606 14,563 (10,558) 169 (3,876) 1,723 2 021 40,627 (9,004) 31,623 (12,612) 127 (15,630) (5,544) (4,834) 625 (3,206) (1,926) (25) 1,718 13 (41,294) 15,876 (8,374) 3,435 (11,063) (526) (2,845) (997' (4,494) (14,165) 8,552 12,235 70 6,692 36,492 5,384 26 (582) (2,226) (12) 1,818 (396) 438 226 (7,308) 327 (3) 325 90 (1893) 34,599 (5,902) 869 (2,064) (5,037) (6\ (12 140) 22,459 (10 252) 12,207 (8,675) 89 (54,637) (2,747) (140) 2,279 6,277 641 2,227 12 (54,674} 56,907 (4,315) (33) (1,055) (11057) 40,447 (2,020) 8,268 1,784 784 8,816 Summarv of casl1 and cash eouivalents, Bank balance, Current Investments and Fixed Deoosits more than 12 months: Particulars 30/09/2026 a cash and cash equivalents b Bank balance other than cash and cash equivalents c Current Investments d Fixed Deposits more than 12 month's maturity e Total Al1medabad, November 4, 2026 6,692 8,826 36,641 12 52,171 30/09/2025 8,816 19,009 42,860 15 70,700 By Ore~! of the Board, For Zydus L1feic/i,nces Lir~ \ v• ~ Dr. S P. Patel Mana ing Director DIN: 00131995