Zydus Wellness Limited (ZYDUSWELL) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Zydus Wellness Limited ₹89.57, price ₹493, upside -81.8%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹269.12 – ₹602.50 · fair‑value band ₹48.25 – ₹119.28 · the ₹493.25 price screens above the ₹89.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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Zydus Wellness Limited engages in the development, production, marketing, and distribution of health and wellness products in India, the Middle East, Asia, Africa, the Oceania, and internationally.
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Zydus Wellness Limited engages in the development, production, marketing, and distribution of health and wellness products in India, the Middle East, Asia, Africa, the Oceania, and internationally. It provides sugar substitute products under the Sugar Free Gold, Sugar Free Natura, and Sugar Free Green brands; milk-based health food drink under the Complan brand; glucose-based beverage under the Glucon-D brand; and I'm lite a blended sugar coated with stevia. The company also offers a range of skincare products, such as soap-free face washes, face masks, scrubs, and leave-on-products under the Everyuth brand; prickly heat and cooling powder, and hand sanitizer under the Nycil brand; and probiotic butter spread, table spread, ghee, butter, cholesterol fat-free spread, mayonnaise, and chocolate spread under the Nutralite brand. It also exports its products. The company was formerly known as Carnation Nutra Analogue Foods Limited and changed its name to Zydus Wellness Limited in January 2009. The company was founded in 1988 and is headquartered in Ahmedabad, India. Zydus Wellness Limited is a subsidiary of Zydus Lifesciences Limited.
Stock analysis
Zydus Wellness Limited (ZYDUSWELL) currently trades at ₹493.25, while our model-based Fair Value estimate is ₹89.57, 81.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹173.87 per share, and 0 of the 21 models we run sit above the ₹493.25 price.
Bear case: the Dividend Discount group reads lowest at ₹15.35, and 21 of the 21 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹48.25 (bear) to ₹119.28 (bull), the price of ₹493.25 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Zydus Wellness Limited reported revenue of ₹39.6B in FY2026 versus ₹20.1B in FY2022, a compound +18.5%/yr. Reported net income was ₹2.0B in FY2026, compounding −10.6%/yr from FY2022.
Key figures
Market cap ₹157B (≈ $1.6B) · P/E ratio 83.2 · P/S ratio 4.14 · EPS (TTM) ₹5.93 · Dividend yield 0.2% · Net margin 5.0% · Return on equity 3.4% · Return on assets (EBIT) 4.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 18% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 9% fair-value upside, at −82%, ZYDUSWELL screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹15.35 to ₹293.93). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹48.25Fair Value ₹89.57Bull ₹119.28
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹2.41 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+46.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.2%
Start year 2021 (pandemic). Over 10 years: +25.9% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.9%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.1%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−24.1% vs −14.0%, slowing
Profit margin 2020 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.17% → 9%
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+16.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +11.6% a year for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Packaged Foods · 633 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−81.8% · Bottom 25%
Profitability
Return on equity (TTM)3.4% · Below median
Return on assets2.7% · Below median
Net margin (TTM)4.2% · Above median
Operating margin (TTM)12.9% · Top 25%
Growth and dividend
Revenue growth66.9% · Top 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.52× · Highest 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
P/E (TTM)83.2× · Priciest 25%
P/B2.69× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM)3.46× · Priciest 25%
P/FCF399.2× · Priciest 25%
EV/EBITDA32.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)100· sector 21
PAST (return on equity)14· sector 31
HEALTH (low debt)74· sector 96
DIVIDEND (yield)5· sector 57
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Zydus Wellness Limited (ZYDUSWELL) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹89.57 versus a price of ₹493.25, about −82% upside (overvalued).
What is the fair value of ZYDUSWELL?
Our model-based fair value for Zydus Wellness Limited is ₹89.57 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹493.25.
What is the quality score of ZYDUSWELL?
Zydus Wellness Limited has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Zydus Wellness Limited (ZYDUSWELL)?
Our model-based price target is the fair value of ₹89.57 (as of Oct 1, 2026) from 25 valuation models. Cautious scenario ₹48.25, optimistic scenario ₹119.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Zydus Wellness Limited stock forecast for 2026?
Our models put fair value at ₹89.57, about −82% upside versus a price of ₹493.25 (overvalued). Cautious scenario ₹48.25, optimistic scenario ₹119.28. The calculation is refreshed regularly with new filings.
What is the revenue of Zydus Wellness Limited (ZYDUSWELL)?
Zydus Wellness Limited reported trailing-twelve-month revenue of about ₹45.4B (latest available figure, as of Oct 1, 2026).
Does Zydus Wellness Limited pay a dividend?
Zydus Wellness Limited currently shows a dividend yield of about 0.24% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Zydus Wellness Limited (ZYDUSWELL)?
For today's price to be fair in a discounted-cash-flow model, Zydus Wellness Limited would have to grow free cash flow by more than 80 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.2 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of ZYDUSWELL use?
Our models discount Zydus Wellness Limited at 13.9 %: a base by market capitalisation (small), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zydus Wellness Limited that is more than 80 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Zydus Wellness Limited (ZYDUSWELL) delivered so far?
Over the past 5 years revenue at Zydus Wellness Limited grew +16.2 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zydus Wellness Limited (ZYDUSWELL) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Zydus Wellness Limited (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zydus Wellness Limited (ZYDUSWELL)?
The free-cash-flow yield on the price is 0.25 %: that much free cash flow Zydus Wellness Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zydus Wellness Limited (ZYDUSWELL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zydus Wellness Limited it is ₹89.57 per share (as of Oct 1, 2026), against a price of ₹493.25. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Zydus Wellness Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, ZYDUSWELL trades above its calculated fair value: price ₹493.25, fair value ₹89.57, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZYDUSWELL?
No. The price is what the market pays today (₹493.25); the fair value is what the company's own numbers justify (₹89.57). For Zydus Wellness Limited the two are ₹403.69 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zydus Wellness Limited worth?
The market values Zydus Wellness Limited at about ₹157B (market capitalisation, as of Oct 1, 2026). Per share that is ₹493.25; our models calculate a fair value of ₹89.57 per share.
What do the bullish and bearish scenarios say about ZYDUSWELL?
Our models span a range for Zydus Wellness Limited: cautious scenario ₹48.25, base ₹89.57, optimistic ₹119.28 per share (as of Oct 1, 2026, price ₹493.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZYDUSWELL?
Zydus Wellness Limited trades at a price-to-earnings ratio of 83.2 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹89.57 is built from several models across several years. Other multiples: P/B 2.7, P/S 3.5, EV/EBITDA 32.8.
How solid is the balance sheet of Zydus Wellness Limited (ZYDUSWELL)?
Balance-sheet figures for Zydus Wellness Limited (as of Oct 1, 2026): return on equity 3.4%, debt of 0.52 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is ZYDUSWELL from its 52-week high?
Zydus Wellness Limited trades at ₹493.25, about 18% below its 52-week high of ₹602.50 and 32% above the low of ₹373.50 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹89.57 is for.
Which stocks are comparable to Zydus Wellness Limited?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zydus Wellness Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹493.25, calculated fair value ₹89.57 (−82%), Quality Score 36/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ZYDUSWELL calculated?
We run Zydus Wellness Limited through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹89.57, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Zydus Wellness Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zydus Wellness Limited (ZYDUSWELL)?
The closing price on Oct 1, 2026 was ₹493.25. Our model-based fair value is ₹89.57, about −82% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zydus Wellness Limited right now?
The price sits above even our optimistic bull case (₹119.28). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (₹48.25 to ₹119.28) leaves room in how you read the outcome.
Where does the earnings growth of Zydus Wellness Limited (ZYDUSWELL) come from?
Earnings per share at Zydus Wellness Limited grew −4.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.4 %, EBIT margin −7.2 %, tax rate +0.6 %, residual (interest, one-offs) −4.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Zydus Wellness Limited
How large is the market capitalisation of Zydus Wellness Limited (ZYDUSWELL)?
The market capitalisation of Zydus Wellness Limited is ₹157B (≈ $1.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zydus Wellness Limited (ZYDUSWELL)?
The price-to-sales ratio of Zydus Wellness Limited is 4.14 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zydus Wellness Limited (ZYDUSWELL)?
Earnings per share at Zydus Wellness Limited are ₹5.93 (price ÷ EPS = P/E 83.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zydus Wellness Limited (ZYDUSWELL)?
The dividend yield of Zydus Wellness Limited is 0.2% (payout 20.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Zydus Wellness Limited (ZYDUSWELL)?
The net margin of Zydus Wellness Limited is 5.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zydus Wellness Limited (ZYDUSWELL)?
The return on equity (ROE) of Zydus Wellness Limited is 3.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zydus Wellness Limited (ZYDUSWELL)?
On an EBIT basis the return on assets of Zydus Wellness Limited is 4.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zydus Wellness Limited (ZYDUSWELL)?
The operating margin of Zydus Wellness Limited is 12.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zydus Wellness Limited (ZYDUSWELL)?
Revenue at Zydus Wellness Limited is growing +66.9% versus a year earlier (3y avg +20.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Zydus Wellness Limited (ZYDUSWELL)?
Earnings per share at Zydus Wellness Limited are growing −7.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zydus Wellness Limited (ZYDUSWELL) carry?
The net debt of Zydus Wellness Limited is ₹30.9B (fiscal year 2026, ≈ 78.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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