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Zydus Wellness Ltd.’s Q1 FY22 was decent with broad-based growth across brands. Expansion in e-commerce and improving international business is positive.
We continue to believe that the acquisition of Heinz India business is transformational for Zydus Wellness, given the increased consumer focus on health and wellness – likely accelerated consumer adoption of more than 70% of the portfolio (Sugar Free, Glucon-D, Nutralite and Complan).
We especially like the new product development strategy (contributes ~3.5% versus ~1.5 earlier) aimed to address some key challenges – SugarLite to address the taste penalty, Sugar Free Green is a natural product, Complan Nutrigro to regain lost medical connect of the brand.
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