Cohance Lifesciences Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
COHANCE · price
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Cohance Lifesciences (formerly Suven Pharmaceuticals) reported weak Q3 and 9M FY26 results on February 12, 2026. Consolidated revenue for 9MFY26 declined 6.7% year-on-year to ₹1,649 crore, while Q3FY26 revenue fell 19.5% to ₹545 crore. Adjusted EBITDA for 9MFY26 dropped 43% to ₹348 crore with margins compressing to 21.1%, and Q3 Adjusted EBITDA fell 68% to ₹85 crore (margin of 15.6%). Standalone Q3 PAT was ₹47 crore versus ₹154 crore in the year-ago quarter. The company blamed customer inventory adjustments, biotech funding weakness, and delayed reorders, plus a Warning Letter at its Nacharam facility that deferred ~₹55 crore of shipments. Exceptional items of ₹13 crore were booked for new labour codes and merger-related restructuring. Positively, gross margins expanded ~200 bps to 72.8%, the company generated ₹175 crore of free cash flow, and held ₹432 crore in cash with a net cash position of ₹176 crore.
Near-term results are clearly weak, with revenue and EBITDA both sharply lower, and management has cut FY26 revenue guidance to an early-to-mid double-digit decline, which is likely to weigh on the stock. However, management expects a return to growth in FY27 as customer reorders resume, commercial pipeline conversions progress, and the US ADC facility comes online, which could limit the downside for longer-term investors.