Cohance Lifesciences Limited — PPTs, 12-11-2025: Investor Presentation

Cohance Lifesciences reported an 8% YoY revenue decline in Q2FY26, though adjusting for destocking, growth would have been 14%. Half-year revenue grew modestly by 1.2% to INR 1,104.9 Cr. Adjusted PAT fell to INR 71 Cr in Q2 and INR 130.2 Cr in H1. Pharma CDMO and API+ segments faced declines due to destocking, biotech funding delays, and a temporary plant shutdown (now resumed). Specialty Chemicals, including AgChem, showed robust 166% YoY growth. Niche technologies contributed over 17% of revenue. The company generated INR 170 Cr free cash flow, holding INR 391 Cr cash.

The company aims to strengthen its foundation, targeting $1 billion (INR 8,500 Cr) revenue by 2030 with mid-30s EBITDA margins. Strategies include expanding customer base, broadening pipeline in high-potent, ADC, and oligo programs, and enhancing technical capabilities. Recent developments include strong traction at CPHI Frankfurt, 22 successful US FDA audits, and an Eco Vadis Gold rating. Its US subsidiary, NJ Bio, added 17 new biotech clients, and a cGMP lab for oligonucleotides has opened with customer audits scheduled.

Management anticipates flat revenue growth for FY26 but expects a stronger second half from deferred shipments and new wins. They project a growth rebound in FY27.