Cohance Lifesciences Q4 net profit tanks 84%; sees recovery from FY27 second half

Revenue for the quarter declined 26.3% year-on-year to ₹619.1 crore from ₹840.4 crore in the corresponding quarter of the previous year and ₹2,269 crore for FY26.

EBITDA fell 60% year-on-year to ₹98.7 crore from ₹229.2 crore a year earlier. The EBITDA margin shrank to 15.9% from 27.3% YoY.

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For Q4FY26, gross margins improved to 65.4% and adjusted EBITDA stood at ₹130 crore. The company said adjusted EBITDA for the review periods reflects the impact of subsidiary cost consolidation and muted operating leverage at the consolidated level.

For FY26

, gross margins improved by 209 basis points, while adjusted EBITDA margin stood at 21%, translating into adjusted EBITDA of ₹480 crore. Standalone adjusted EBITDA margin was 24.6%.

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Cohance said its pipeline remains steady with consistent RFP inflows across small molecules, ADC and complex chemistries at 2x levels, with efforts focused on improving win rates in laterals and late-stage pipeline programmes.

On outlook, the company said growth is expected to return from the second half of FY27 onwards. It added that FY27 is expected to see a bottoming-out phase, with Q1FY27 likely to be the lowest point for both revenue and EBITDA. Recovery is expected from 2HFY27, supported by execution of existing programmes, customer conversions, reloads and improving utilisation across the platform.

Umang Vohra, Executive Chairman and Group CEO, said, “Cohance today has a strong and differentiated niche technology-led global CDMO platform spanning ADCs, nucleic acid chemistries, small molecules, and complex chemistries, with meaningful engagement across global innovator pharma companies.”

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Shares of Cohance Lifesciences Ltd ended at ₹485.75, up by ₹7.10, or 1.48%, on the BSE today, May 11.