Cohance Lifesciences Limited (formerly Suven Pharmaceuticals Limited) announced its unaudited financial results for Q2 and H1 ended September 30, 2025. H1 revenue reached ₹11,049 million, a 1.2% year-on-year increase. Gross margins improved to 73.8%. Despite short-term challenges, fundamentals remain strong. The company reaffirmed its target of reaching $1 billion in revenue by 2030.
Financial Performance Overview
Cohance Lifesciences Limited reported its financial performance for the second quarter (Q2) and first half (H1) of the financial year 2026. Key highlights include:
Q2FY26 Financial Highlights
Revenue: Stood at ₹5,556 million, an 8% decrease year-on-year, mainly due to deferred shipments and key molecule destocking. Adjusting for de-stocking, the quarter reported growth of 14% YoY.
Gross Margins: Improved to 74.6%, from about 71.3% in the same quarter last year, due to business mix and efficiency improvements.
Adjusted EBITDA: Reached ₹1,289 million, with margins of 23.2%, reflecting lower volumes and investments.
1HFY26 Financial Highlights
Revenue: Reached ₹11,049 million, up 1.2% year-on-year, due to deferred shipments and project starts, mainly at NJ Bio. Adjusting for de-stocking, 1H reported growth of 20% YoY.
Gross Margins: Improved to 73.8%, compared to about 70% in the same half year last year, driven by business mix and efficiency improvements.
Adjusted EBITDA: Stood at ₹2,630 million, lower due to the phasing towards H2, reflecting lower volumes, upfront investments, and integration costs, with adjusted EBITDA margins at 23.8%.
Key Business Developments
An innovator partner secured US FDA approval for a drug with four intermediates supplied by Cohance.
Successfully executed a Phase II order for a leading global innovator.
There is sustained traction in both Agrochemicals and Performance/OLED sectors, indicating a gradual macro recovery.
There is robust business development at CPHI Frankfurt 2025, with potential new leads from Europe and Japan.
Large innovators are focusing on supply-chain de-risking, as niche modalities such as ADCs and Oligos gain prominence, enhancing recognition of Cohance’s technology platform.
The slowdown in biotech funding impacted NJ Bio, pushing project shipments by 2-3 quarters.
Future Outlook
Cohance Lifesciences remains on track to achieve its target of USD 1 billion (₹85 billion) in revenue by 2030, targeting mid-30s EBITDA margins. Significant investments in team building, business development, and customer base expansion will help achieve targets.
Source: BSE
