Cohance Lifesciences Limited has informed the Exchange about Investor Presentation
COHANCE · price
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Cohance Lifesciences reported weak Q3 and 9M FY26 numbers, with 9M revenue falling 6.7% year-on-year to INR 16.5 billion, dragged down by customer de-stocking and a USFDA Warning Letter at its Nacharam plant that caused around INR 55 crore in shipment deferrals. Adjusted EBITDA plunged 43% to INR 3.5 billion, with margins compressing sharply to 21.1% from 34.8% a year ago, while adjusted profit after tax dropped 61% to INR 1.5 billion. On a brighter note, revenue excluding the de-stocking impact actually grew 9.3% in 9M, the company remains net cash positive at INR 1.75 billion, and management has a strong Phase III pipeline with nine molecules, four expected to move to commercial supply in coming fiscal. The company has revised its FY26 revenue guidance to an early-to-mid double-digit decline (from earlier flat outlook) and expects a return to growth in FY27.
Near-term pain is clearly reflected in sharply lower margins and earnings, which is likely to weigh on the stock. However, the net cash balance, healthy order pipeline, and management's confidence in an FY27 recovery may limit the downside for long-term investors.