COHANCE

Cohance Lifesciences share price & financials

Price
₹441.9
Market cap
₹17.7k Cr
Sector
Healthcare
Calls analysed
8
Latest concall · Q1 FY27 · call held 05 Aug 2026

Cohance Lifesciences Limited Q1 FY27

Consolidated Revenue 4,223 million −23%Consolidated Gross Margin 71.5%

What went well

  • Sapala segment revenue grew 2.5x year-on-year to INR274 million.
  • API+ business remained resilient, exceeding internal expectations with favorable pricing and improved product mix.
  • Secured restocking orders for a commercial molecule, providing visibility for Q4 FY27 and FY28.

What to watch

  • Consolidated revenue declined 23% year-on-year to INR4,223 million.
  • Consolidated adjusted EBITDA margin was low at 2.2% (INR92 million).
Read the full call →

What Cohance Lifesciences Limited does

Cohance Lifesciences (formerly Suven Pharmaceuticals) is a Hyderabad-headquartered contract development and manufacturing organisation (CDMO) that custom-synthesises pharmaceutical intermediates, active pharmaceutical ingredients (APIs), antibody-drug-conjugate (ADC) payloads/linkers and oligonucleotide building blocks for global innovator pharma, biotech and specialty-chemical customers, earning fee-for-service and scale-up manufacturing income rather than selling its own branded drugs. It operates through three business units - Pharma CDMO, API+ and Specialty Chemicals - spanning drug discovery support through commercial-scale manufacturing. Its acquisitions of NJ Bio (a Princeton, NJ-based ADC specialist) and Sapala (an oligonucleotide building-blocks maker) extended its capabilities into next-generation biologic modalities alongside its India manufacturing base.

Segments

  • Pharma CDMO
  • API+
  • Specialty Chemicals
Manufacturing plants
14
R&D facilities
7
R&D scientists
510+
Installed manufacturing capacity
3,500 KL
Commercial patented molecules (Pharma CDMO)
16
Customer base
Works with 19 of the top 20 global innovator pharma companies
Headquarters Hyderabad, India

Guidance record · Q1 FY27

what the last two calls moved 24 tracked 2 delivered 9 missed 13 open
  • API Product Validations delivered said Q1 FY26 Promised: 7 to 8 new validations Q1 FY27: FY26 is complete. The target was achieved.
  • NJ Bio EBITDA Margin missed said Q2 FY25 Promised: 20%+ for CY25 onwards Q1 FY27: NJ Bio reported an adjusted EBITDA loss of INR328 million, confirming the target is not only missed but performance is deeply negative.
  • Total Revenue diluted said Q3 FY25 Promised: $1 billion by FY30 Q1 FY27: I do think we may be a little bit away from it over the next 3 to 4 years, but I would love to put more color to it before I can answer you.

All 24 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 25.6%, net profit down 97.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue594 653 769 484 498 −16%482 −26%568 −26%360 −26%
EBITDA204 233 223 104 131 −36%103 −56%117 −48%26 −75%
Net profit139 154 123 53 94 −32%47 −69%35 −72%1 −97%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −55.5% 1Y

₹0.4k₹0.6k₹0.8k₹1.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 28 Oct 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 12 May 2026Q1 FY27 — 5 Aug 2026

1Y: ₹989.85 on 10 Sept 2025 → ₹440.2. High ₹996.4 (11 Sept 2025), low ₹279.9 (6 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+1.1%
5 Aug
Q4 FY26
+1.7%
12 May
Q3 FY26
−1.3%
12 Feb
Q2 FY26
+1.1%
28 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 15.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 22.4%.

Year endingFY23FY24FY25FY26
Revenue₹1.3k Cr₹1.0k Cr₹2.5k Cr₹2.0k Cr
Operating profit₹575 Cr₹410 Cr₹784 Cr₹454 Cr
Operating margin43.1%39.6%31.3%22.4%
Interest₹7 Cr₹6 Cr₹37 Cr₹22 Cr
Depreciation₹47 Cr₹50 Cr₹147 Cr₹134 Cr
Net profit₹418 Cr₹305 Cr₹491 Cr₹229 Cr
Net margin31.3%29.4%19.6%11.3%
Cash from operations₹493 Cr₹376 Cr₹301 Cr₹390 Cr
Free cash flow₹348 Cr₹324 Cr₹162 Cr₹237 Cr
ROCE34.0%21.0%16.0%10.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹25 Cr₹25 Cr₹25 Cr₹25 Cr₹38 Cr₹38 Cr
Reserves₹1.0k Cr₹1.5k Cr₹1.7k Cr₹2.0k Cr₹3.7k Cr₹4.4k Cr
Borrowings₹143 Cr₹97 Cr₹70 Cr₹65 Cr₹451 Cr₹146 Cr
Other liabilities₹151 Cr₹187 Cr₹139 Cr₹121 Cr₹1.3k Cr₹487 Cr
Total liabilities₹1.4k Cr₹1.8k Cr₹2.0k Cr₹2.2k Cr₹5.6k Cr₹5.1k Cr
Fixed assets₹441 Cr₹534 Cr₹512 Cr₹670 Cr₹3.1k Cr₹2.3k Cr
Capital work in progress₹96 Cr₹30 Cr₹165 Cr₹179 Cr₹357 Cr₹144 Cr
Investments₹426 Cr₹600 Cr₹710 Cr₹893 Cr₹454 Cr₹1.2k Cr
Other assets₹395 Cr₹641 Cr₹571 Cr₹473 Cr₹1.6k Cr₹1.5k Cr
Total assets₹1.4k Cr₹1.8k Cr₹2.0k Cr₹2.2k Cr₹5.6k Cr₹5.1k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −8.92 pp while DIIs added +8.69 pp. The shareholder count grew 23% to 99,149.

Promoters
57.5%
FIIs
6.5%
DIIs
20.1%
Government
0.0%
Public
15.9%

Since Jun 2025

  • Promoters −8.92 pp
  • DIIs +8.69 pp
  • Public +0.97 pp

How it drifted, 12 quarters

Over this window DIIs went from 14.1% to 20.1% — +6.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 60.0%, FIIs 10.0%, DIIs 14.1%, Government 0.0%, Public 15.8%.Dec '23: Promoters 60.0%, FIIs 10.1%, DIIs 15.9%, Government 0.0%, Public 13.9%.Mar '24: Promoters 50.1%, FIIs 9.5%, DIIs 17.2%, Government 0.0%, Public 23.1%.Jun '24: Promoters 50.1%, FIIs 9.8%, DIIs 17.4%, Government 0.0%, Public 22.7%.Sep '24: Promoters 50.1%, FIIs 10.7%, DIIs 16.9%, Government 0.0%, Public 22.3%.Dec '24: Promoters 50.1%, FIIs 10.8%, DIIs 16.7%, Government 0.0%, Public 22.4%.Mar '25: Promoters 50.1%, FIIs 11.1%, DIIs 16.6%, Government 0.0%, Public 22.2%.Jun '25: Promoters 66.4%, FIIs 7.2%, DIIs 11.4%, Government 0.0%, Public 14.9%.Sep '25: Promoters 57.5%, FIIs 6.5%, DIIs 20.8%, Government 0.0%, Public 15.2%.Dec '25: Promoters 57.5%, FIIs 6.0%, DIIs 21.6%, Government 0.0%, Public 14.9%.Mar '26: Promoters 57.5%, FIIs 5.6%, DIIs 21.8%, Government 0.0%, Public 15.1%.Jun '26: Promoters 57.5%, FIIs 6.5%, DIIs 20.1%, Government 0.0%, Public 15.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Cohance Lifesciences Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Behryanda Limited 33.34%unchanged
Jusmirial Holdings Limited 24.15%unchanged
DSP Regular Savings Fund Mutual fund4.28%newly disclosed
Icic Preduential Health Care And Diaganostic Mutual fund4.19%newly disclosed
Jasub Property Holdings Llp 3.84%unchanged
SBI Mnc Fund Mutual fund3.33%newly disclosed
Jasti Property And Equity Holdings Private Limited 2.51%unchanged
HDFC Trustee Company Limited - HDFC Tax Saverfund Mutual fund2.16%newly disclosed
SBI Life Insurance Co. Ltd Insurer1.75%−0.27 pp
Invesco India Contra Fund Mutual fund1.69%+0.25 pp
DSP Nifty Smallcap 250 ETF Mutual fund—off the list
ICICI Prudential Value Fund Mutual fund—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in COHANCE

Filings to Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.05 L shares (+0.0%).

Held by funds
₹933 Cr
14 schemes
Biggest holder
SBI Multi Asset Allocation Fund
₹237 Cr · 1.1% of that fund
SchemeHoldingLast month
SBI Multi Asset Allocation Fund SBI Mutual Fund₹237 Crheld
HDFC Balanced Advantage Fund HDFC Mutual Fund₹176 Crheld
SBI Balanced Advantage Fund SBI Mutual Fund₹137 Crheld
SBI Healthcare Opportunities Fund SBI Mutual Fund₹100 Crheld
SBI MNC Fund SBI Mutual Fund₹100 Crheld
HDFC ELSS Tax saver HDFC Mutual Fund₹61 Crheld
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹54 Crheld
HDFC Manufacturing Fund HDFC Mutual Fund₹38 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +4,653 shares (+0.0%)

Funds are sitting on
-28%
vs est. average cost
Held by funds
₹933 Cr
14 schemes · ≈ 5.2% of the company
Biggest holder
SBI Multi Asset Allocation Fund
₹237 Cr · 1.1% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
4y 6m · since Mar '22

Shares held by these funds +26432%

Aug '23 2.10 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹440, this stock must grow earnings at 45% every year for 7 years. Our analysis caps realistic growth at ~-18%. At that growth it is worth ₹17 — downside of 96%.

Growth the price implies
44.8% a year
for 7 years, fading to 4%
It has actually compounded at
-18.2% a year
net profit, FY23–FY26
The gap
0.6 pp
-96% downside if it only repeats history
Price today ₹440.2 Value at the reference growth ₹16.84

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Cohance Lifesciences Limited

Guides on how to read this kind of business and the numbers that matter.