Cohance Lifesciences FY26 Results: Revenue at ₹22.68 Bn, Adjusted EBITDA at ₹4.8 Bn
Cohance Lifesciences reported FY26 revenue of ₹22.68 Bn and Adjusted EBITDA of ₹4.8 Bn. Q4FY26 revenue was ₹6.19 Bn. The company anticipates a recovery from 2HFY27, with Q1FY27 expected to be the low point. Free cash flow for FY26 was ₹1.73 Bn.
The financial results show a year-on-year decline, which could impact investor sentiment. However, the company has a clear strategy for recovery and growth in the medium term, and the balance sheet remains strong, mitigating a high impact.
The company reported a decline in revenue and profit in Q4FY26 and FY26 compared to the previous year, impacted by various factors. While there are strategic initiatives and an outlook for recovery in the second half of FY27, the current performance indicates a challenging period.
Cohance Lifesciences Limited (formerly Suven Pharmaceuticals Limited) has announced its audited financial results for the quarter and year ended March 31, 2026. The company reported FY26 revenues of ₹22.68 billion (INR 22.68 Bn) and an Adjusted EBITDA of ₹4.8 billion (INR 4.8 Bn), with margins at 21.0% for the fiscal year.
The company's performance in FY26 was impacted by several factors including de-stocking in two large commercial products, product-specific challenges in the API business, and pricing pressure in the Specialty Chemicals segment. The Nacharam formulation plant experienced disruptions, contributing INR 610 million (INR 610 Mn) to the overall impact. Despite these challenges, gross margins improved to 70.8% year-on-year, supported by product mix and subsidiary consolidation.
In Q4 FY26, revenues were ₹6.19 billion (INR 6.19 Bn), a decrease of 26.3% year-on-year, with Adjusted EBITDA margins at 21.0%. The company highlighted that Q1 FY27 is expected to be the low point for both revenue and EBITDA, with recovery anticipated from the second half of FY27 onwards. This outlook is driven by expected volume recovery, customer conversions, improved product mix, and better asset utilization.
Key strategic initiatives for FY27 include strengthening leadership under Mr. Umang Vohra, enhancing functional depth across key departments, and focusing on core technology capabilities in Small Molecules, ADCs, and Oligonucleotides. The Pharma CDMO segment is identified as a strategic growth engine, with ongoing efforts to expand the pipeline across various therapeutic areas and modalities. The API+ segment is expected to offer better visibility and a more predictable contribution in FY27, while the Specialty Chemicals segment is undergoing a transition year with improvements expected as qualifications convert.
The company maintained a healthy liquidity position with cash on books at ₹3.22 billion (INR 3.22 Bn) and generated free cash flow of ₹1.73 billion (INR 1.73 Bn) during the year. Capital expenditure for FY26 stood at ₹2.15 billion (INR 2.15 Bn), primarily for facility expansions and upgradations.
What to do with a filing like this
Cohance Lifesciences Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Cohance Lifesciences Limited. Read the original for the full detail.