Cohance Lifesciences Q2 Revenue Down 14.2% YoY

Reporting Period (Quarter/Year): Quarter and Half Year ended 30 September 2026 (Q2 FY27, H1 FY27)

Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 of SEBI Listing Regulations

Date of Board Meeting / Approval: 6 November 2026

Audit Opinion: Unmodified (clean) conclusion from statutory auditors on both standalone and consolidated financial results.

Auditor’s Comment: No qualifications or modifications affecting earnings quality, internal controls, or going concern.

For Quarter Ended 30 September 2026:

Revenue from Operations: ₹416.69 (QoQ: +15.8% from ₹359.89 in Q1 FY27; YoY: -16.3% from ₹497.79 in Q2 FY26)
Total Income: ₹437.26 (QoQ: +17.5%; YoY: -16.6%)
Net Profit: ₹13.27 (QoQ: +841.1% from ₹1.41; YoY: -85.9% from ₹94.29)
EPS: ₹0.35 (Basic, not annualized)
Other Equity: ₹4,471.21 (vs. ₹4,441.85 as of 31 March 2026)
Cash and Cash Equivalents: ₹19.34 (vs. ₹13.11 as of 31 March 2026)
Debt: Short-term ₹95.76, Long-term ₹28.10, Total ₹123.86

For Half Year Ended 30 September 2026:

For Quarter Ended 30 September 2026:

Revenue from Operations: ₹476.65 (QoQ: +12.9% from ₹422.26; YoY: -14.2% from ₹555.57)
Total Income: ₹489.06 (QoQ: +12.6%; YoY: -14.4%)
Net Profit Attributable to Shareholders: ₹15.22 (vs. Net Loss of ₹24.12 in Q1 FY27; YoY: -79.5% from ₹74.08)
EPS: ₹0.40 (Basic, not annualized)
Other Equity: ₹3,873.94 (vs. ₹3,873.03 as of 31 March 2026)
Cash and Cash Equivalents: ₹98.63 (vs. ₹49.14 as of 31 March 2026)
Debt: Short-term ₹199.60, Long-term ₹28.10, Total ₹227.70

For Half Year Ended 30 September 2026:

Revenue from Operations: ₹898.91 (YoY: -18.6% from ₹1,104.88)
Total Income: ₹923.57 (YoY: -18.6%)
Net Loss Attributable to Shareholders: ₹8.90 (vs. Net Profit of ₹122.96 in H1 FY26)
EPS: -₹0.23 (Basic, not annualized)
Adjusted EBITDA (as per investor presentation): ₹551 Mn (₹55.1 Cr) with margin of 6.1%

The company operates primarily in a single reportable segment: Contract Development and Manufacturing Operations (CDMO).

Dividend: Not declared.
Appointment: Dr. Kuber Jagdale (DIN: 12037580) appointed as Additional Director, designated as Chief Technical Officer & Executive Director, for 5 years effective 7 November 2026 till 6 November 2031, subject to shareholder approval.
Investment: Approved 26% equity investment in an SPV (under incorporation) for a captive solar power plant (5.3 MW Wind + 4.45 MWp Solar) with an investment of approximately ₹5.72 Cr. Expected to save 26% on power costs.

Acquisitions:
Acquired additional 65% in Aaruka Bio Inc. (USA) for ₹47.89 Cr on 19 September 2026, increasing holding to 90%. Accounted as an asset acquisition.
Acquired additional 11.3% in NJ Bio Inc. for ₹124.40 Cr, increasing holding to 67.3%. Also subscribed to ₹95.56 Cr in compulsorily convertible preference shares (CCPS).
ESOP: Modified terms of ESOP 2023 Plan and granted new ESOP under ESOP 2023 and ESOP 2026 Plan in July 2026.
Subsidiary Update: CCPS of Sapala Organics Private Limited converted to equity, reducing holding from 67.5% to 51%, but it remains a subsidiary. Company is required to acquire additional 21% by FY27 and remaining 28% by 31 March 2030.
Exceptional Items (H1 FY26): Included one-time restructuring expenses of ₹8.10 Cr related to the merger with erstwhile Cohance Lifesciences Limited.
Outlook (from investor presentation): H2 FY27 expected to be materially stronger than H1 with YoY growth in revenue and EBITDA, driven by Small Molecule deliveries, API+ resilience, and nucleic-acid growth.