Cohance Lifesciences Ltd · NSE:COHANCE
Cohance Lifesciences — FY2025 Earnings Presentation
47 slides from Cohance Lifesciences's earnings presentation, May 29, 2025
Slide 1: Stock exchange cover letter
CSD/BSE&NSE/BM/2025-26 May 28, 2025 To To The Manager The Manager Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited 25th Floor, P. J. Towers, Exchange Plaza, Bandra Kurla Complex Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai – 400 051 Scrip
Slide 2: Investor Presentation Financial Year 2025 and Q4
Cohance INVESTOR PRESENTATION Financial Year 2025 and Q4
Slide 3: Disclaimer
This document and information herein is solely for information purposes and must not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. This document may not be altered in any way, transmitted to, copied or d
Slide 4: Agenda
New Identity ESG 04 31 Executive Summary FY25 Financial Performance Q4 and FY25 08 33 Business Metrics Annexure 11 37 Business wise strategy 17 3
Slide 5: New Identity
New Identity 4
Slide 6: Name change, merger effective and market capitalization
The Ministry of Corporate Affairs, Government of India has approved the change of name of the Company from “Suven The Merger is effective from May Pharmaceuticals Limited” to 1, 2025. “Cohance Lifesciences Limited”, with effect from May 7, 2025. New name and ticker effective on both exchanges Our ne
Slide 7: Suven Pharmaceuticals changed its name to Cohance Lifesciences
Suven Pharmaceuticals Limited "Cohance" reflects the mission to has changed its name to New identity signifies a strategic Collaborate with global innovators Cohance Lifesciences Limited. transformation into a specialized, and Enhance molecules for technology-driven global CDMO. impactful therapeuti
Slide 8: Global technology-led CDMO capabilities
Over the last two years Cohance Lifesicences has been built into a Global Capabilities Technology led CDMO An End-To-End partner from drug discovery to development to commercial Small molecules: 16 patented commercial molecules Oligonucleotides and mRNA: amongst the few globally to With a marque
Slide 9: Executive Summary FY25
EXECUTIVE SUMMARY FY25 8
Slide 10: Executive summary and progress toward $1bn CDMO vision
This quarter marks a significant milestone for us. With the merger now effective, we have meaningfully enhanced our scale, combined capabilities, and customer base. We are enthusiastic about the opportunities this unlocks for our platform We are proud to unveil Cohance as the new identity for th
Slide 11: Update on FY25 performance
Update on FY25 performance o FY25 consolidated revenue grew 9% YoY, with Pharma CDMO up 18%, supported by project expansions and new RFQs o EBITDA margin for FY25 stood at 34%, with ROCE at 27%, reflecting disciplined execution o Pharma CDMO: 18% YoY growth • Continued RFQ traction with a better m
Slide 12: Business Metrics
Cohance BUSINESS METRICS
Slide 13: Proforma Q4FY25 and FY25 performance
Proforma Q4FY25 performance: Proforma Q4FY25 Financial Highlights Combined platform in Q4 reported revenue growth of 20% YoY driven by Pharma CDMO and Spec Chem 20% 75% 31% The Pharma CDMO business grew by 31% YoY to INR 3.45 bn Revenue growth (YoY) Spec Chem growth (YoY) Pharma CDMO growth (YoY
Slide 14: Q4FY25 consolidated P&L
INR mn Particulars Q4FY24 Q4FY25 YoY Revenue from Operations 7,018 8,412 19.9% Material costs / COGS (2,459) (3,025) Q4FY25 revenue grew 20% YoY, contributed by growth in Pharma Material Margin 4,559 5,387 18.2% CDMO and Spec Chem. Material Margin % 65.0% 64.0% Manufacturing Expenses (677) (918) Gro
Slide 15: FY25 consolidated P&L
INR mn Particulars FY24 FY25 YoY FY25 revenue grew 9.1% YoY, driven by Pharma CDMO and API+ Revenue from Operations 23,922 26,103 9.1% businesses. Material costs / COGS (8,140) (8,304) Gross margins expanded by 222 bps YoY to 68.2% and gross profit growth Material Margin 15,782 17,799 12.8% of 13%Yo
Slide 16: Consolidated Financials Q4
Consolidated Financials Operational Revenue (INR mn) Adjusted EBITDA (INR Million) Margin (%) Adjusted PAT (INR Million) Margin (%) 8,412 36.4% 31.3% 24.5% 7,018 17.1% 2,554 2,632 1,721 1,441 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Pharma CDMO (INR mn) Agri & Spec Chem (INR mn) API+ (INR mn) 3,447
Slide 17: Consolidated Financials FY
Consolidated Financials Operational Revenue (INR mn) Adjusted EBITDA (INR Million) Margin (%) Adjusted PAT (INR Million) Margin (%) 26,103 35.7% 33.6% 23,922 24.0% 20.9% 8,534 8,781 5,739 5,463 FY24 FY25 FY24 FY25 FY24 FY25 Pharma CDMO (INR mn) Agri & Spec Chem (INR mn) API+ (INR mn) 11,282 11,844 9
Slide 18: Business Wise Strategy
BUSINESS WISE STRATEGY 17
Slide 19: Pharma CDMO, Specialty Chemicals, API++ strategy
Pharma CDMO Specialty Chemicals API++ 48%# of Sales 10%# of Sales 42%# of Sales Small Molecules Strategic Business Unit to focus on Focused portfolio and market 16 Commercial Patented molecules growth acceleration by adding new leadership in low-mid volume, 14/20 Top innovator relations; con
Slide 20: Pharma CDMO
Cohance PHARMA CDMO
Slide 21: Phase III pipeline and RFQ inflow
Phase III pipeline moving with higher conversions Phase III pipeline o Active pipeline of 100+ projects spanning Phase I to Phase III Phase III molecules Phase III intermediate o We have 16 commercial Pharma molecules across combined platform 15 Phase III pipeline o Our Phase III pipeline remain
Slide 22: Small molecule pipeline continues to grow
Small Molecule Pipeline continues to grow on the back of Oncology contributes more than >50% Active Clinical Pipeline by Year 25,000 The active clinical trial pipeline keeps growing and has reached 22,936 active drugs 20,000 Small Molecules is 52% of the current pipeline, Biologics 43% and Other
Slide 23: US FDA approvals lean towards small molecules
US FDA Approvals lean towards small molecules US FDA Approvals Trend 70 100% Record Number of Approvals in 2024: 50 novel drugs were approved 59 90% in 2024. 60 53 55 80% Other notable statistics include: 50 50 50 45 48 70% Oncology remains the dominant focus of drug developers, with 30% 39 41 60%
Slide 24: Global clinical active pipeline
Global Clinical Active Pipeline R&D pipeline growth (CAGR) 2019-24 25,000 Peptides 2% Nucleic Acids (Oligos/mRNA) 19% 20,000 Antibody-Drug Conjugates (ADC) 20% Vaccines and Viral Vectors 8% 15,000 Cell and Gene Therapy 12% Biologics- Proteins/Antibodies 6% 10,000 Small Molecules - General 4% Overall
Slide 25: Expanded ADC offerings as integrated end-to-end CRDMO
Expanded ADC offerings to become an integrated End to End CRDMO Our unique capabilities in ADCs and XDCs End-to-end CRDMO Extensive Library of Integrated Service Global leadership in Uniquely positioned as Capacity augmentation Partner from Drug Payload-Linkers for Offerings: across variety Camptoth
Slide 26: Market leaders in camptothecin payloads
MARKET LEADERS SN-38 Exatecan 104+ DXd Clinically Active Compounds S-Trione Other known Jan 2025 CPT derivatives Novel CPT derivatives 25
Slide 27: Complex building blocks for oligonucleotides
Amongst the few CDMOs globally, supplying complex building blocks for Oligonucleotides Our Niche in Oligonucleotide segment Capable of Diversified innovator Only supplier of Multi-kilo scale Mastered the Capacity Forward integrating synthesizing customer (CDMO and Tricyclo-DNA synthesis of wide chem
Slide 28: Agri & Spec Chem
Cohance AGRI & SPEC CHEM
Slide 29: Ag-chem and Spec Chem update
Ag-chem: In-line with our communicated expectation, we have seen strong recovery with 75% YoY growth in Q4 in this business segment even though on a full year basis we saw a decline given macro impact in H1 performance. We expect a further recovery and growth in FY26 Our concerted BD efforts and
Slide 30: API+
Cohance API+
Slide 31: API+ growth and merchant API market size
API+ BU reported 10% YoY growth in FY25, supported by improving macros and commercialization of new businesses Merchant API Market Size 2023 ($ bn) Demand recovery leading to healthy order booking and volume ramp-up in base business Increased traction in new business commercialization from new p
Slide 32: ESG
Cohance
Slide 33: ESG Profile
We have set multi-dimensional ESG goals for the next 5 years Our achievement Environment Social Governance Upcoming milestones Achieved B rating 2024 Reduce absolute disclosure both in Climate Employees undergo Gold in Eco Vadis Scope 1+2 emissions Ethical non- Change and Water Security 35% from co2
Slide 34: Financial Performance Q4 & FY25
FINANCIAL PERFORMANCE Q4 & FY25 33
Slide 35: P&L Snapshot
INR mn CAGR YoY P&L Snapshot FY20 FY21 FY22 FY23 Q4FY24 Q4FY25 FY24 FY25 FY20-FY25 Q4 FY Revenue 16,969 20,140 26,004 26,779 7,018 8,412 23,922 26,103 9.0% 19.9% 9.1% COGS (5,997) (7,024) (9,291) (9,283) (2,459) (3,025) (8,140) (8,304) Material Margin 10,972 13,116 16,713 17,496 4,559 5,387 15,782 1
Slide 36: Balance Sheet Snapshot
INR mn Balance Sheet Snapshot1 FY20 FY21 FY22 FY23 FY24 FY25 Property, plant and equipment (PPE) 7,354 8,499 9,396 10,059 10,273 14,924 Right of use asset (RoU) 2 22 105 193 372 762 2,418 • The combined balance sheet remains net cash positive at INR 358 mn, despite Capital work-in-progress 1,114 1,1
Slide 37: Key Ratios
Key Ratios# FY20 FY21 FY22 FY23 FY24 FY25 Basis Net Working Capital (as days of sales) 128 113 132 125 153 136 NWC / Revenue * 365 days PPE (as % of sales) 43.3% 42.2% 36.1% 37.6% 42.9% 57.2% PPE / Revenue Capex spend during the year (INR mn) 1,527 1,918 1,663 4,203 2,607 3,147 Capex spend (as % of
Slide 38: Annexure
ANNEXURE 37
Slide 39: Pharma CDMO manufacturing sites
Lab & Kilo scale Pilot and Commercial scale (~3,000+ kL capacity) Pharma CDMO Genome valley, Nacharam, Hyderabad Pashamylaram, Suryapet, Telangana Jeedimetla, Hyderabad Vizag, AP Nacharam, Hyderabad Hyderabad (Oligo CoE) Hyderabad API+ Patancheru, Hyderabad Atchutapuram, AP Jaggaiahpet, AP Ankleshwa
Slide 40: Moving up the capability curve
Building a technology-led CDMO - Augmenting scale organically and inorganically AIML Our niche technology mix to double in Horizon 2 Mfg Horizon 3 Horizon 2 Horizon 1 Enzymatic synthesis Moving up the capability curve End to end integrated Flow CRDMO in ADC with NJ Bio Chemistry Peptides Niche tech
Slide 41: CDMO market by technology and projected growth
CDMO Market by Technology – Market Size and Projected Growth (2023-29) 40.00% Suven High-Growth Technology Platforms 35.00% Protein Degraders (~$100 mn) 30.00% Cell and Gene Therapy ADC ($2.7 bn) Expected Market Growth (2023-29) Oligonucleotides and Nucleic Acid 25.00% ($1.5 bn) 20.00% Biologics 15.
Slide 42: Strong expertise in high growth segments
We have built strong expertise in high growth segments and will continue to invest in these segments organically and inorganically Indian CDMOs Global CDMOs Cohance Peer 1 Peer 2 Peer 3 EU Peer 1 EU Peer 2 Chinese Peer Specialized Technologies – Small Molecules HPAPI – Cytotoxic Drugs
Slide 43: Leading technology-led global CDMO
Established a Leading Technology-led innovator focused Global CDMO in short period of time Today 2030 2035 Revenue* = $ 335 mn+ Revenue = $ 1 bn+ Revenue = $ 2 bn+ (INR 85 bn) 58%+ CDMO 90%+ CDMO 80%+ CDMO Professionally managed team Scale acquired in short span via business combinations Global Pres
Slide 44: Investor relations contacts
Cyndrella Carvalho, Head - Investor Relations Cohance Lifesciences Ltd Email: cyndrella.carvalho@cohance.com Gavin Desa / Rishab Barar CDR - India Tel: +91 98206 37649/ +91 77770 35061 Email: gavin@cdr-india.com / rishab@cdr-india.com 43
Slide 45: Thank You
Conhance THANK YOU
Slide 46: Cohance announces Q4 & FY25 results (press release)
Cohance Lifesciences Announces Q4 & FY25 Results Completes Merger and Unveils New Identity Pharma CDMO grows 18% in FY25; Q4 revenue up 20% YoY Hyderabad/Mumbai, May 28, 2025 Cohance Lifesciences Limited (formerly Suven Pharmaceuticals Limited), a leading global CDMO (Contract Development and Manufa
Slide 47: Strategic outlook (press release)
was 31.3%, reflecting continued investments in people and infrastructure across the platform. Strategic Outlook As a unified platform under the Cohance identity, the company is well-positioned to drive accelerated growth from FY26 onward. Management expects double-digit revenue growth in FY26, weighte