Cohance Lifesciences Ltd · NSE:COHANCE
Cohance Lifesciences — Q4 FY2026 Earnings Presentation
31 slides from Cohance Lifesciences's earnings presentation, May 12, 2026
Slide 1: Exchange filing cover letter: Investor Presentation
CSD/BSE&NSE/BM/2026-27 May 12, 2026 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: Financial Year 2026 and Q4
Financial Year 2026 and Q4 May 12, 2026
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: Executive summary, Business wise Strategy, Business and Financial performance, Annexure
Executive summary Business wise Strategy 04 15 Business and Financial Annexure performance 07 25 3
Slide 5: Executive Summary
Cohance EXECUTIVE SUMMARY
Slide 6: FY26: Re-aligning the platform for execution-led growth in FY27
FY26: RE-ALIGNING THE PLATFORM FOR EXECUTION-LED GROWTH IN FY27 Leadership structure strengthened under Mr. Umang Vohra, bringing an owner-manager mindset, global operating discipline and sharper execution focus Strengthened leadership, improved customer engagement and intense execution discipli
Slide 7: ADC, Oligonucleotides and API+ progress
o ADC (Payloads, Linkers & Bioconjugation): Advancing customised payload development and expanding capabilities through the NJ Bio platform • Progress on customised/ adjacent payload programmes supporting late-stage clinical programmes in ADC payload • NJ Bio milestones: completion of 5 GMP bioconju
Slide 8: Business and Financial Performance
BUSINESS AND FINANCIAL PERFORMANCE 7
Slide 9: FY26 Financial Highlights
FY26 performance: FY26 Financial Highlights FY26 revenues stood at INR 22.68 Bn despite the business navigating de-stocking in two large commercial products, product-specific challenges in the API business and pricing pressure in the Specialty Chemicals segment (13.0%) (2.1%) (3.5%) Adjusting fo
Slide 10: Q4 FY26 Financial Results
INR Mn Particulars Q4FY25 Q4FY26 YoY Revenue from Operations 8,404 6,191 -26.3% • In Q4, CDMO share was 54%, all the business segments Material costs / COGS (3,000) (2,144) witnessed revenue decline. Spec Chem segment was Material Margin 5,404 4,047 -25.1% impacted due to high base in Q4 last year M
Slide 11: FY26 Financial Results
INR Mn Particulars FY25 FY26 YoY Revenue from Operations 26,085 22,686 -13.0% • FY26 revenues were impacted by de-stocking in two large Material costs / COGS (8,165) (6,626) commercial products, product-specific issues in API+, Material Margin 17,920 16,059 -10.4% generic pricing pressure in Special
Slide 12: Consolidated Financials Q4
Consolidated Financials Operational Revenue (INR Mn) Adjusted EBITDA (INR Mn) Margin (%) Adjusted PAT (INR Mn) Margin (%) 8,404 31.4% 16.7% 6,191 21.0% 5.3% 2,635 1,298 1,407 330 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Pharma CDMO (INR Mn) Agri & Spec Chem (INR Mn) API + (INR Mn) 3,447 3,479 1,478
Slide 13: Consolidated Financials FY
Consolidated Financials Operational Revenue (INR Mn) Adjusted EBITDA (INR Mn) Margin (%) Adjusted PAT (INR Mn) Margin (%) 26,085 33.7% 22,686 20.4% 21.0% 8.1% 8,783 4,775 5,323 1,844 FY25 FY26 FY25 FY26 FY25 FY26 Pharma CDMO (INR Mn) Agri & Spec Chem (INR Mn) API + (INR Mn) 11,282 2,977 11,826 8,893
Slide 14: Balance Sheet Snapshot
INR Mn Balance Sheet Snapshot FY24 FY25 FY26 Property, plant and equipment (PPE) 10,649 15,583 17,907 Right of use asset (RoU) 762 2,418 2,311 • The balance sheet remained strong and net cash positive as on 31 Capital work-in-progress 4,082 3,316 1,732 March 2026, despite continued investments towar
Slide 15: Key Ratios (Adjusted)
Key Ratios(Adjusted)# FY24 FY25 FY26 Basis Net Working Capital (as days of sales) 153 136 154 NWC / Revenue * 365 days PPE (as % of sales) 42.9% 57.2% 81.7% PPE / Revenue Capex spend during the year (INR Mn) 2,607 3,147 2,154 Capex spend (as % of sales) 10.9% 12.1% 9.5% Capex spend / Revenue (Net De
Slide 16: Business Wise Strategy
BUSINESS WISE STRATEGY 15
Slide 17: Business segments overview: Pharma CDMO, Specialty Chemicals, API+
39% Specialty 13% 48% Pharma CDMO API+ of Sales Chemicals of Sales of Sales Small Molecules ADC* Payload –linker – Strategic Business Unit to focus on growth Focused portfolio and market 17 Commercial Patented Bioconjugation acceleration by adding new customers and leadership in low-mid volume
Slide 18: Pharma CDMO
Cohance PHARMA CDMO
Slide 19: Customer centricity and strengthening technology modalities
Our 30+ year relationships with global innovators and proven expertise in scaling up hazardous chemistry, complex chiral and multi step synthesis offer us a significant and unique advantage. Customer Centricity and Readiness: o Customer at the core of all initiatives — delivering reliability, spee
Slide 20: Small Molecules
Small Molecules Performance over the year has been impacted by customer-led inventory adjustments and delays in Phase III pipeline reloads across certain commercial and late-stage programmes Phase III molecules Phase III intermediate Quality of the portfolio remains strong, with commercial sales
Slide 21: ADC and Oligonucleotides
ADC Completion of RFP inflows GMP Near-term showing good bioconjugation One new ADC USD 10m US- demand traction post batches and payload DMF based cGMP influenced by recent DMF delivery of an filed; three expansion biotech funding filings for newer end-to-end ADC additional underway, cycles, though
Slide 22: API+
Cohance API+
Slide 23: API+ near-term outlook and filings
Near-term moderation driven by shipment timing and pricing adjustments in select mature products. Most issues have been resolved or are close to normalisation Steady demand across therapies. Growth being driven primarily by volume expansion, supported by cost competitiveness, backward integration an
Slide 24: Specialty Chemical
Cohance SPECIALTY CHEMICAL
Slide 25: FY27 expected to remain a transition year
FY26 impacted by Agro Chemicals Performance Focus remains on regulatory timing Chemicals Thrust disciplined Emphasis on and longer on building a conversion — strengthening qualification differentiated translating RFQs participation cycles, inherent to niche presence in into revenue across active the
Slide 26: Annexures
ANNEXURES 25
Slide 27: ESG Profile
We have set multi-dimensional ESG goals Our achievement Environment Social Governance Up coming milestones Achieved B rating in Climate Platinum in Eco Vadis Reduce absolute Change and A- Water in 2025 Scope 1,2 and 3 Employees undergo Ethical non- Sustainability assessment – 54+% emissions from co2
Slide 28: Leadership and organisation structure
Executive Chairman Expanded and and CEO All CXO positions in strengthened SHARED place Business SERVICES Development, Quality & R&D functions BUSINESS PARTNERS CDMO API+ SpecChem QUALITY Most new hires from leading Operations Operations Operations Indian pharma SCM companies R&D function R&D R&D R&D
Slide 29: Manufacturing sites by business
Lab & Kilo scale Pilot and Commercial scale (~3,000+ kL capacity) Pharma CDMO Genome valley, Nacharam, Hyderabad Princeton, Suryapet, Pashamylaram, Vizag, Nacharam, Jeedimetla, Hyderabad Hyderabad (Oligo CoE) New Jersey Telangana Hyderabad Andhra Pradesh Hyderabad API+ Atchutapuram, Jaggaiahpet, Ank
Slide 30: Investor relations contacts
Cyndrella Carvalho, Head - Investor Relations Cohance Lifesciences Ltd Email: cyndrella.carvalho@suvenpharm.com Gavin Desa CDR - India Tel: +91 98206 37649 Email: gavin@cdr-india.com 29
Slide 31: Thank You
Conhance THANK YOU
Cohance Lifesciences — Q4 FY2026 Earnings Presentation on 6ix