Cohance Lifesciences Limited (COHANCE)

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Cohance Lifesciences Limited (COHANCE) · mywealthgrid

About

Cohance Lifesciences operates in pharmaceuticals within India's healthcare sector. At ₹16,859 Cr market cap, it maintains quarterly revenue of ₹359–619 Cr. Financial performance has deteriorated sharply: recent Jun 2026 results show a net loss of ₹45.19 Cr with operating margin at 0.27%, reversing profitability from earlier periods (Sep 2025: ₹94.29 Cr profit, 26.29% OPM).

Face value: ₹1

Market cap

₹17,267 Cr

P/E

162.5×

P/B

4.4×

Dividend yield

ROE

6.4%

ROCE

7.1%

Debt / equity

0.04

OPM

18.8%

EPS (TTM)

₹2.8

Book value

₹102.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Unsustainable valuation: PE 158.71 presumes rapid earnings recovery despite recent losses

Acute operational deterioration: Jun 2026 net loss ₹45.19 Cr with OPM 0.27% reverses Sep 2025's ₹94.29 Cr profit and 26.29% margin—verify cause and recurrence likelihood

Margin instability: OPM swings from 0.27% to 26.29% across recent quarters signal poor cost control, one-time items, or structural market challenges

Stock repricing: 52-week range ₹279.9–₹1,019.8 and 1-year return –52.76% reflect loss of investor confidence; verify what catalyzed the decline

Generated analysis · source review pending

Growth drivers

D/E 0.04 (very low debt) provides financial headroom for R&D, capacity, or geographic expansion—verify whether management has concrete plans

Sep 2025 net profit ₹94.29 Cr and OPM 26.29% demonstrate profitability potential; recovery to that level would drive earnings—verify root cause of Jun 2026 loss and recovery roadmap

Quarterly revenue ₹359–619 Cr shows established scale; verify therapeutic focus, competitive position, and whether sector demand or company gains can support volume or pricing growth

Generated analysis · source review pending

1,620 historical price candles were omitted because the exchange source has not been verified.

₹451.3-1.4%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 17.6% over the last 5 years
+Almost debt-free (debt/equity 0)

Cons

−Profit declined 13.1% a year over the last 5 years
−Expensive at 162.5× trailing earnings
−Promoter holding fell 8.9 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

26/100

Business quality: 40
Growth: 19
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	834	1,010	1,320	1,340	1,051	1,198	2,269
COGS	229	302	399	409	315	305	663
Gross profit	605	708	921	931	736	892	1,606
	171	214	301	365	331	517	1,179
	433	494	621	567	406	375	427
OPM %	52%	49%	47%	42.3%	38.6%	31.3%	18.8%
Depreciation	24	32	39	48	55	77	187
Interest	23	9	6	5	7	12	37
	18	14	92	46	62	59	5
Profit before tax	405	468	668	560	406	344	207
Tax	88	105	214	148	105	79	57
Tax %	21.6%	22.5%	32%	26.5%	26%	23%	27.5%
	317	362	454	411	300	265	150
PAT margin %	38%	35.9%	34.4%	30.7%	28.6%	22.1%	6.6%
EPS (₹)	24.9	14.2	17.8	16.2	11.8	10.5	4.7
EPS adjusted (₹)	12.5	14.2	17.8	16.2	11.8	10.5	4.7
	0%	28.1%	39.3%	12.4%	0%	0%	—
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	25	25	25	25	25	38
Reserves	578	832	1,155	1,502	1,710	2,025	1,671	3,873
Minority interest	—	—	—	—	—	—	144	123
	174	185	141	96	69	39	78	170
	19	143	152	207	161	166	1,113	1,526
Total equity & liabilities	783	1,173	1,474	1,830	1,966	2,255	3,032	5,730
	271	356	441	534	663	670	1,713	3,369
CWIP	111	102	96	30	165	179	255	173
Investments	7	338	542	598	536	904	337	529
	394	377	395	667	601	502	727	1,659
Total assets	783	1,173	1,474	1,830	1,966	2,255	3,032	5,730

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	72.5%	70.1%	69.8%	69.5%	70%	74.5%	70.8%
EBITDA margin %	46.2%	43.6%	43.9%	42.3%	38.6%	31.3%	18.8%
EBIT margin %	43.3%	40.5%	40.9%	38.7%	33.4%	24.9%	10.6%
PAT margin %	38%	35.9%	34.4%	30.7%	28.6%	22.1%	6.6%
Working capital
Receivable days	51	37	65	30	46	87	110
Inventory days	278	243	259	279	268	199	310
Payable days	—	100	97	58	49	96	157
NWC days	—	180	228	251	265	190	263
Leverage
Current ratio	1.95	2.57	5.36	6.37	10.67	2.34	2.78
Debt to EBITDA	0.48	0.32	0.16	0.12	0.1	0.21	0.4
Debt to equity	0.22	0.12	0.06	0.04	0.02	0.05	0.04
Interest coverage	16.4	46.3	101.6	103.9	55.5	28.8	7.4
Asset turnover	0.71	0.68	0.72	0.68	0.47	0.4	0.4
Return ratios
Return on assets %	27%	24.6%	24.8%	20.9%	13.3%	8.7%	2.6%
Return on capital employed %	39%	38%	44%	33%	20.9%	14.8%	7.1%
Return on equity %	37.5%	30.7%	29.7%	23.7%	14.6%	15.6%	3.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60%	60%	50.1%	50.1%	50.1%	50.1%	50.1%	66.41%	57.49%	57.49%	57.49%	57.49%
	10.01%	10.14%	9.54%	9.8%	10.7%	10.84%	11.05%	7.23%	6.51%	6.02%	5.59%	6.5%
	14.14%	15.94%	17.24%	17.42%	16.94%	16.68%	16.6%	11.4%	20.82%	21.57%	21.79%	20.09%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%	0.01%
	15.85%	13.92%	23.12%	22.68%	22.26%	22.38%	22.25%	14.96%	15.17%	14.91%	15.12%	15.91%
No. of shareholders	—	—	—	—	—	—	—	—	75,284	81,877	85,230	99,149

Promoter holding down 2.51 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Jusmiral Holdings LimitedPromoters	Sell	3,41,48,000	₹3,093.81 cr	33.08% → 24.15%	19 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

30 deals · 19 Sept 2022 – 23 Feb 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
23 Feb 2026	JASUB PROPERTY HOLDINGS LLP	Block	NSE	Buy	77,00,000	₹306.00	₹235.62 Cr
23 Feb 2026	JASUB PROPERTY HOLDINGS LLP	Bulk	NSE	Buy	77,00,000	₹306.00	₹235.62 Cr
23 Feb 2026	JASTI FAMILY TRUST	Block	NSE	Sell	77,00,000	₹306.00	₹235.62 Cr
23 Feb 2026	JASTI FAMILY TRUST	Bulk	NSE	Sell	77,00,000	₹306.00	₹235.62 Cr
18 Feb 2026	JASUB PROPERTY HOLDINGS LLP	Bulk	NSE	Buy	70,00,000	₹309.00	₹216.30 Cr
18 Feb 2026	JASUB PROPERTY HOLDINGS LLP	Block	NSE	Buy	70,00,000	₹309.00	₹216.30 Cr
18 Feb 2026	JASTI FAMILY TRUST	Block	NSE	Sell	70,00,000	₹309.00	₹216.30 Cr
18 Feb 2026	JASTI FAMILY TRUST	Bulk	NSE	Sell	70,00,000	₹309.00	₹216.30 Cr
23 Oct 2025	MORGAN STANLEY ASIA (SINGAPORE) PTE.	Block	BSE	Sell	1,12,492	₹890.75	₹10.02 Cr
23 Oct 2025	BNP PARIBAS FINANCIAL MARKETS	Block	BSE	Buy	1,12,492	₹890.75	₹10.02 Cr

1–10 of 30

1 / 3

Mr. UMANG VOHRAExecutive Director-Chairperson
Mr. HIMANSHU AGARWALExecutive Director
Mr. PANKAJ PATWARINon-Executive - Non Independent Director
Ms. SHWETA JALANNon-Executive - Non Independent Director
Ms. MATANGI GOWRISHANKARNon-Executive - Independent Director
Mr. VINOD RAONon-Executive - Independent Director
Mr. KUMARAPURAM GOPALAKRISHNAN ANANTHAKRISHNANNon-Executive - Independent Director
Mr. PRAVIN UDHYAVARA BHADYA RAONon-Executive - Independent Director
Mr. JAI SHANKAR KRISHNANNon-Executive - Independent Director
Mr. VINOD PADIKKALNon-Executive - Non Independent Director
Mr. Sisir K. MishraCompany Secretary & Compliance Officer

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 12 fund houses

Held by these funds

10.56%

of the company's equity

All mutual funds

18.21%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

61 schemes · 12 fund houses

		Shares
Healthcare FundNEW	ICICI Prudential Mutual Fund	62.67 L	285.73	4.08%	1.638%	—
Multi Asset Allocation Fund	SBI Mutual Fund	52 L	237.09	1.13%	1.359%	-0
Healthcare Fund	DSP Mutual Fund	32.03 L	146.04	3.81%	0.837%	-0
Balanced Advantage Fund	SBI Mutual Fund	30 L	136.79	0.33%	0.784%	-0
Aggressive Hybrid Fund	DSP Mutual Fund	23.47 L	107.02	0.91%	0.614%	-4.61 L
MNC Fund	SBI Mutual Fund	22 L	100.31	1.49%	0.575%	-0
Healthcare Opportunities Fund	SBI Mutual Fund	22 L	100.31	1.73%	0.575%	-0
Innovation Fund	ICICI Prudential Mutual Fund	20.87 L	95.18	1.19%	0.546%	-0

1–8 of 61

1 / 8

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

8

Special dividend9 Sept 2022 · ex-date₹5
Interim dividend9 Sept 2022 · ex-date₹1
Interim dividend13 May 2022 · ex-date₹1
Special dividend13 May 2022 · ex-date₹1
Interim dividend15 Feb 2022 · ex-date₹1
Special dividend15 Feb 2022 · ex-date₹2
Final dividend13 Aug 2021 · ex-date₹1
Interim dividend17 Feb 2021 · ex-date₹1

1

Board meeting to consider results5 Aug 2026

1

Bonus 1:125 Sept 2020 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

20 announcementsExport CSV

28 Sept 2026, 2:21 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	72.5%	70.1%	69.8%	69.5%	70%	74.5%	70.8%
EBITDA margin %	46.2%	43.6%	43.9%	42.3%	38.6%	31.3%	18.8%
EBIT margin %	43.3%	40.5%	40.9%	38.7%	33.4%	24.9%	10.6%
PAT margin %	38%	35.9%	34.4%	30.7%	28.6%	22.1%	6.6%
Working capital
Receivable days	51	37	65	30	46	87	110
Inventory days	278	243	259	279	268	199	310
Payable days	—	100	97	58	49	96	157
NWC days	—	180	228	251	265	190	263
Leverage
Current ratio	1.95	2.57	5.36	6.37	10.67	2.34	2.78
Debt to EBITDA	0.48	0.32	0.16	0.12	0.1	0.21	0.4
Debt to equity	0.22	0.12	0.06	0.04	0.02	0.05	0.04
Interest coverage	16.4	46.3	101.6	103.9	55.5	28.8	7.4
Asset turnover	0.71	0.68	0.72	0.68	0.47	0.4	0.4
Return ratios
Return on assets %	27%	24.6%	24.8%	20.9%	13.3%	8.7%	2.6%
Return on capital employed %	39%	38%	44%	33%	20.9%	14.8%	7.1%
Return on equity %	37.5%	30.7%	29.7%	23.7%	14.6%	15.6%	3.8%

Date	Category	Subject	Filing
28 Sept 2026, 2:21 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
21 Sept 2026, 11:37 am	Company Update General	General Upadte	PDF
18 Sept 2026, 6:34 pm	Company Update General	General Update	PDF
17 Sept 2026, 7:59 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
17 Sept 2026, 7:56 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
17 Sept 2026, 1:00 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
5 Sept 2026, 12:29 am	Company Update General	Completion Of USFDA Inspection	PDF
3 Sept 2026, 8:10 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	50	407	383	330	451	385	288	368
	-65	-413	-311	-136	-195	-362	-255	-255
	26	7	-77	-156	-236	-40	3	-165
Net cash flow	11	1	-5	37	20	-18	36	-51
Free cash flow	-6	—	273	255	165	333	132	148
CFO / Operating profit %	—	105.7%	87.1%	57%	79.6%	94.8%	76.8%	86.3%

Cohance Lifesciences Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

8

1

1

Announcements

8

1

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Cohance Lifesciences Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends8

Board meetings1

Bonus issues1

Announcements

Dividends8

Board meetings1

Bonus issues1

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

8

1

1

8

1

1