Cohance Lifesciences Ltd — earnings calls

Cohance Lifesciences reported FY26 revenue of INR22.68 billion, down approximately 13% year-on-year, with adjusted EBITDA of INR4.77 billion and an EBITDA margin of 21%. Management attributed the decline to destocking in two large commercial CDMO molecules, product-specific and shipment issues in API+, and a temporary disruption at the Nacharam formulation site. Management said Q1 FY27 would be weak on revenue and EBITDA, with growth returning from the second half of FY27 as order books convert into shipments.