Zydus Wellness shares spurt up to 6% as equity worth ₹374 crore changes hands via block deal

According to reports, around 1.7 lakh shares, representing a 2.7% equity stake of the company, changed hands in block deal worth ₹374 crore.

Details like the price and buyers and sellers of shares were not known immediately. Stock exchanges will update the details after the market hours.

Zydus Wellness shares soared by 6% to hit a high of ₹2,360 per share on NSE in early morning trade. The stock later pared some of the gains to trade 1.5% higher at ₹2,250 at 1:15 PM.

Shares of the wellness product manufacturer have appreciated by around 35% in 2o24 so far. In the past year, shares have risen around 55%.

Ahmedabad-based Zydus Wellness has reported a 33% jump in consolidated net profit to ₹147.3 crore for the June 2024 quarter from ₹110.4 crore in the year-ago period.

Net sales of the company rose by 20% to ₹839.1 crore in the first quarter of FY25 compared to ₹699 crore in the year-ago quarter.

The company registered growth in EBIDTA of 33.3% y-o-y basis to ₹155.3 crore. Adjusted PAT grew by 39.6% y-o-y after eliminating exceptional items and one-time deferred tax assets from the comparable quarter of the previous year.

During the quarter, the company repaid its debt in full, thus de-leveraging its balance sheet and retaining its strong cash position at the quarter end, according to a company statement.

The company stated during the quarter, its products posted excellent growth with its iconic brands Glucon D, Nycil, Everyuth Peel-off and Scrub maintaining their leadership positions in their respective categories.

Glucon-D continued to maintain its number one position with a 59.7% market share. The Sugar Free brand maintained its leadership in the sugar substitute category with a market share of 95.9 %.

Zydus Wellness owns popular brands - Complan, Sugar Free, I'm lite, Glucon-D, Everyuth, Nycil and Nutraliteshares.