Cohance Lifesciences Ltd · NSE:COHANCE
Cohance Lifesciences — Q1 FY2026 Earnings Presentation
39 slides from Cohance Lifesciences's earnings presentation, Aug 13, 2025
Slide 1: Cover letter to stock exchanges: Investor Presentation
CSD/BSE&NSE/BM/2025-26 August 13, 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 Scr
Slide 2: Investor Presentation Q1FY2026
Cohance INVESTOR PRESENTATION Q1FY2026 AUGUST 2025
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: Cohance.com Is Now Live
Cohance.com Is Now Live A unified digital gateway showcasing our integrated CDMO capabilities across pharma and specialty chemicals Collaborate. Enhance. Deliver. Visit: www.cohance.com 3
Slide 5: Strengthening the foundation: agenda
Strengthening the Business wise strategy foundation 05 14 Financial Performance Executive Summary Q1FY26 07 27 Business Metrics Annexure 10 31 4
Slide 6: Strengthening the foundation
Strengthening the foundation 5
Slide 7: Q1 performance and progress across businesses
Q1 performance aligned with expectations; Healthy progress across all businesses. Strong customer engagements, now working with 19 of the top 20 global innovators. Niche technologies share crossed 20% vs mid-teens in FY25; tracking to mid-20s in FY26. ADC Platform & AgChem and API+ & Pharma CD
Slide 8: Executive Summary
EXECUTIVE SUMMARY o_
Slide 9: Strategic Updates
Strategic Updates Integrated Organization o This quarter marks our first full reporting period as the combined entity of Cohance Lifesciences. o We have focused on delivering meaningful integration across scale, sustainability and science. o Both customers and internal teams remain excited about o
Slide 10: Business Segment Commentary
Business Segment Commentary Pharma CDMO o Pharma CDMO revenue grew 1% YoY, adjusting for inventory destocking the growth was +30%YoY. o Our pipeline remains balanced across early, late-stage, and GMP contracts, with the team focused on both pipeline expansion and conversion. o We continue to deepe
Slide 11: Business Metrics
BUSINESS METRICS 10
Slide 12: Q1FY26 Financial Highlights
Q1FY26 performance: Q1FY26 Financial Highlights Q1FY26 marks our first quarter of consolidated reporting post-merger under the unified Cohance Lifesciences platform. 13% 28% +30% The platform delivered 13% YoY revenue growth, driven by a broad-based Revenue growth (YoY) Spec Chem growth (YoY) Phar
Slide 13: Q1FY26 P&L and Balance Sheet Highlights
INR mn Particulars Q1FY25 Q1FY26 YoY • Revenue growth adjusted for inventory destocking was driven by Revenue from Operations 4,881 5,493 12.5% growth across all business segments. Material costs / COGS (1,542) (1,481) • Gross margins expanded from 68.4% to 73.0%, driven by a Material Margin 3,339 4
Slide 14: Consolidated Financials
Consolidated Financials Operational Revenue (INR mn) Adjusted EBITDA (INR Million) Margin (%) Adjusted PAT (INR Million) Margin (%) 5,493 27.6% 4,881 17.1% 23.9% 11.4% 1,346 1,314 835 629 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Pharma CDMO (INR mn) Agri & Spec Chem (INR mn) API+ (INR mn) 1% 2,03
Slide 15: Business Wise Strategy
BUSINESS WISE V STRATEGY ‘ne ~=
Slide 16: Pharma CDMO, Specialty Chemicals, API++
Pharma CDMO Specialty Chemicals API++ 37% of Sales 9% of Sales 54% 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, customers and new products. specialty A
Slide 17: Pharma CDMO
Cohance PHARMA CDMO
Slide 18: Commercial pipeline continues to be strong
Commercial pipeline continues to be strong – 1 molecule moving to commercial o Active pipeline of 100+ projects spanning Phase I to Phase III. Phase III pipeline o We have 16 commercial Pharma molecules across combined platform. Phase III molecules Phase III intermediate 15 Phase III pipeline st
Slide 19: Niche Technology & Customer Engagement
Niche Technology & Customer Engagement o Added 14 new customers to the ADC platform this calendar year, including two large global innovators. o Dedicated OEB6 high-containment block under construction at Nacharam for a customized payload program with a major U.S. innovator. o Recent visit to a ke
Slide 20: Expanded ADC offerings to become 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 21: Market leaders in clinically active compounds
MARKET LEADERS SN-38 Exatecan 104+ DXd Clinically Active Compounds S-Trione Other known Jan 2025 CPT derivatives Novel CPT derivatives 20
Slide 22: Supplying 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 23: 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 24: Agri & Spec Chem
Cohance AGRI & SPEC CHEM 23
Slide 25: Ag-chem and Spec Chem update
Ag-chem: o Improving visibility in line with prior period commentary. YOY growth of 28% driven by demand recovery and low base. o OLED shipments are expected to ramp in Q2. We remain confident of delivering growth. o New product discussions and fresh RFQs including from potential new customers and
Slide 26: API+
Cohance API+
Slide 27: Improving macros translating to product launches and validations
Improving macros translating to increasing product launches and validations o Demand recovery leading to scaling up of new launches and healthy order booking. o Two new products validated; on track for 7-8 new product validations Increased traction in new business commercialization from new produc
Slide 28: Financial Performance Q1 FY26
FINANCIAL PERFORMANCE Q1 FY26 27
Slide 29: P&L Snapshot
INR mn CAGR YoY P&L Snapshot FY20 FY21 FY22 FY23 FY24 FY25 Q1FY25 Q1FY26 FY20-FY25 Q1 • Q1FY26 marks our first quarter of Revenue 16,969 20,140 26,004 26,779 23,922 26,083 4,881 5,493 9.0% 12.5% consolidated reporting post-merger, COGS (5,997) (7,024) (9,291) (9,283) (8,140) (8,163) (1,542) (1,481)
Slide 30: Balance Sheet Snapshot
INR mn Balance Sheet Snapshot1 FY21 FY22 FY23 FY24 FY25 Q1FY26 • The combined balance sheet remained net 3 Property, plant and equipment (PPE) 8,499 9,396 10,059 10,273 14,924 14,886 cash positive at INR 2.44bn as of Q1FY26, Right of use asset (RoU) 105 193 372 762 2,418 2,345 despite capex and rece
Slide 31: Key Ratios
Key Ratios# FY21 FY22 FY23 FY24 FY25 Q1FY26 Basis Net Working Capital (as days of sales) 113 132 125 153 136 132 NWC / Revenue * 365 days PPE (as % of sales) 42.2% 36.1% 37.6% 42.9% 57.2% 55.7% PPE / Revenue Capex spend during the year (INR mn) 1,918 1,663 4,203 2,607 3,147 559 Capex spend (as % of
Slide 32: Annexures
ANNEXURES = Ss
Slide 33: Pharma CDMO facilities
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 34: Moving up the capability curve
Building a technology-led CDMO - Augmenting scale organically and inorganically AIML Mfg Our niche technology mix to double in Horizon 2 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 35: CDMO Market by Technology: Size 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% ADC Cell and Gene Therapy ($2.7 bn) Expected Market Growth (2023-29) Oligonucleotides and Nucleic Acid 25.00% ($1.5 bn) 20.00% Biologics 15.
Slide 36: 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 37: Leading technology-led innovator focused 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 38: Investor Relations contacts
Cyndrella Carvalho, Head - Investor Relations Cohance Lifesciences Ltd Email: cyndrella.carvalho@suvenpharm.com Gavin Desa / Rishab Barar CDR - India Tel: +91 98206 37649/ +91 77770 35061 Email: gavin@cdr-india.com / rishab@cdr-india.com 37
Slide 39: Thank You
Cohance THANK YOU
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