India, April 6 -- Zydus Wellness may look like a company going through a noisy phase on the surface, but the Q3FY26 management commentary suggests that the bigger story is about the next leg of growth. While reported profit remains under pressure because of acquisition-related costs, the company's revenue momentum, improving EBITDA, product expansion, digital push, and new international opportunities show that multiple growth drivers are now coming together.

The management made it clear that the current phase should not be judged only by reported losses. The company said the fall from EBITDA to profit was mainly because the Comfort Click acquisition was funded through a low-cost bridge loan, which led to finance cost of around Rs. 371 m...