Zydus Wellness proactively looking for acquisitions; to enter new overseas markets
Zydus Wellness has integrated the business of Heinz, including a portfolio of popular brands Complan, Glucon-D and Nycil, which it had acquired in a Rs 4,595-crore acquisition, the annual report said.
New Delhi: Ahmedabad-based consumer goods company Zydus Wellness, which owns iconic brands such as Glucon-D, Complan and Nycil through acquisitions, is proactively looking for inorganic growth opportunities to support its expansion plans. The company is focusing on innovations for portfolio diversification and expansion to grow its consumer base with increased penetrations, said the latest annual report of Zydus Wellness.
"The company is confident to drive growth and increase the market share of its brands through innovation, leveraging distribution channels and expanding the brand portfolio," said Zydus Wellness.
This will enable the firm to grow its consumer base with increased penetrations.
Moreover, to "support the growth ambitions, the company is proactively looking for bolt-on acquisitions that fit in company's vision and mission," it added.
Zydus Wellness has integrated the business of Heinz, including a portfolio of popular brands Complan, Glucon-D and Nycil, which it had acquired in a Rs 4,595-crore acquisition, the annual report said.
Besides, Zydus Wellness is also expanding into new markets with relevant offerings and building scale in international business by focusing on SAARC (South Asian Association for Regional Cooperation), MEA (Middle-East and Africa) and SEA (South-East Asia) regions.
"The company targets 8-10 per cent revenue contribution from international markets over the next five years," it said.
In FY22, Zydus expanded its international footprints by entering new geographies such as Hong Kong, Lebanon, Zimbabwe, Muscat, Ethiopia and Australia.
"The international business continued to grow at high double digits. The company aims to build scale in international business by focusing on key regions like SAARC, MEA and SEA; entering new geographies and introducing suitable innovations and extensions to address the needs of international markets," the annual report said.
It has also incorporated its wholly-owned subsidiary Zydus Wellness (BD) Pvt Limited in Bangladesh, aimed at serving local consumers at a competitive price,"
In FY22, it had registered a growth of 7.6 percent on its total revenue from operations, which stood at Rs 2,009.10 crore.
"This is despite the fact that there has been a surge in inflation and a rise in geopolitical issues which have impacted consumer sentiments; softening consumer demand," the company said.
Its power brand Glucon-D has maintained its number one position with a market share of 58.5 percent in the Glucose Powder Category.
While Sugar-Free continues to hold its leadership position in sugar with a market share of 95.7 percent.
Similarly, Nycil has maintained its number one position with a market share of 33.7 percent in the prickly heat powder category, the annual report said.
Its e-commerce business had a growth more than 1.5 times in FY22, said Zydus Wellness.
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