Cohance Lifesciences Limited — PPTs, 12-02-2026: Investor Presentation

Cohance Lifesciences reports 9MFY26 revenue of ₹1650 Cr, a 6.7% YoY decline. However, excluding inventory de-stocking, revenue grew 9.3%. Adjusted profit after tax was ₹150 Cr, down 61.4%. Specialty Chemicals grew a strong 31.6%, but Pharma CDMO and API+ saw declines.

The company is in a transition phase, focusing on execution, customer RFP conversions, and capacity commissioning. Key growth drivers include a USD 10M US-based cGMP expansion for ADC supply and the nearing operationalization of its Oligonucleotide building-block facility.

Recent developments include completed leadership appointments and upgraded functional depth. A temporary disruption at Nacharam due to a regulatory warning letter impacted ₹55 Cr in shipments, with remediation ongoing. Cohance also earned EcoVadis Gold for sustainability.

Gross margins improved to 72.8%, and Adjusted EBITDA was ₹350 Cr (21.1% margin). The company maintains a healthy net cash position of ₹176 Cr.

Management views FY26 as a "bottoming phase," anticipating a return to revenue growth in FY27. Pharma CDMO's RFQ intensity is up 2x, with 9 Phase III assets, 4 nearing commercial supply. FY27 is a transition year for Spec Chem, with improvements expected as qualifications convert.