Cohance Lifesciences Limited

rs,

To The Manager Department of Corporate Services BSE Limited 25th Floor, P. J. Towers, Dalal Street, Mumbai - 400 001 To The Manager Listing Department National Stock Exchange of Ind

20%

gagements, now working with 19 of the top 20 global innovators.  Niche technologies share crossed 20% vs mid-teens in FY25; tracking to mid-20s in FY26. Pharma CDMO Advancements  Continued traction

1billion

anization and Talent o In alignment with long-term sustainable growth and our revenue vision of USD1billion (INR 85 billion) by 2030, we have continued to strategically strengthen our leadership bandwidth a

INR 85 billion

and Talent o In alignment with long-term sustainable growth and our revenue vision of USD1billion (INR 85 billion) by 2030, we have continued to strategically strengthen our leadership bandwidth across all busine

13%

Highlights o Q1 performance was as guided earlier aligned with our expectations. o Revenue grew by 13%YoY, with gross margin expansion, while EBITDA margins reflect planned investments in talent and bus

25%

ess development ahead of scale. Adjusting for inventory de-stocking overall business grew ahead of 25% YoY. o As previously communicated, given the lumpy nature of our industry, performance is best eva

1%

ed on a full-year basis. 8 Business Segment Commentary  Pharma CDMO o Pharma CDMO revenue grew 1% YoY, adjusting for inventory destocking the growth was +30%YoY. o Our pipeline remains balanced acr

30%

Pharma CDMO o Pharma CDMO revenue grew 1% YoY, adjusting for inventory destocking the growth was +30%YoY. o Our pipeline remains balanced across early, late-stage, and GMP contracts, with the team focu

19%

on and remains on track for CY25 operational readiness.  API+ o Q1 revenue grew by approximately 19% YoY, led by sustained execution across commercial molecules and new launches ramp-up. New product f

28%

inues to benefit from a post-downcycle recovery in the AgChem macro environment. Q1 revenue grew by 28% YoY. Outlook and Guidance  We remain confident in our long-term vision of achieving USD1 billion

1 billion

rew by 28% YoY. Outlook and Guidance  We remain confident in our long-term vision of achieving USD1 billion (INR 85 billion) in revenue by 2030, with mid-30s EBITDA margins. 9 BUSINESS METRICS 10 Q1FY26

73%

rowth, supported by strong order visibility and new product launches.  Gross margins expanded to 73%, benefiting from a favorable mix and increased contributions from niche technologies and recent ac

“Q1 FY25 numbers are regrouped , as applicable; Q1FY26 includes consolidation of Sapala and NJ BIO.”

“3) PAT Adjusted is excluding depreciation impact (net of tax) on account of merger /acquisition adjustments of Rs.21 mn and Rs.37 mn for Q1 FY25 & Q1 FY26 respectively 13 BUSINESS WISE STRATEGY 14 Pharma CDMO 37% of Sales Specialty Chemicals 9% of Sales API++ 54% of Sales Small Molecules  16 Commercial Patented molecules.”

“ cGMP on track to be ready by end of CY25; aligned customer audits to validated the plant being scheduled.”

“ We anticipate more product expansion from existing large customer.”

“o Won a high-containment (OEB4) project from a global innovator, validating our infrastructure and regulatory maturity.”

“ We retain FY26 growth estimate of early double digits o Commercialization of new product pipeline – 5 new products to be commercialized in FY26.”

“o Business expansion: targeting 8-10 DMFs filing in FY26 Commercial scale-up of new customers’ business.”

“Q1 FY25 & FY25 consolidated figures are restated pursuant to Merger and FY25 includes consolidation of Sapala and NJ BIO.”

“Adjusted EBITDA is after One-time adjustment for ESOP, Merger and acquisition costs of Rs.81 Mn and Rs.171 Mn for Q1 FY25 & Q1 FY26 respectively.”

“Exceptional item for Q1 FY26 Rs.81 Mn represents one-time restructuring costs incurred due to merger of the Company with erstwhile Cohance Lifesciences Limited.”

Note

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Note

1. 2. 3. 4. Q1 FY25 numbers are regrouped , as applicable; Q1FY26 includes consolidation of Sapala and NJ BIO. EBITDA(Adjusted) includes One-time adjustment for ESOP, Legal and Merger/ acquisition costs of Rs.81 Mn and Rs. 171 Mn for Q1FY25 and Q1FY26 respectively Exceptional items for Q1 FY26 represents one-time restructuring costs incurred due to merger of the Company with erstwhile Cohance Lifesciences Limited PAT Adjusted is excluding depreciation impact (net of tax) on account of merger /acquisition adjustments of Rs21 Mn and Rs.37 Mn for Q1 FY25 and Q1 FY26 respectively 12 Consolidated Financials Operational Revenue (INR mn) Adjusted EBITDA (INR Million) Margin (%) Adjusted PAT (INR Million) Margin (%) 4,881 5,493 27.6% Q1FY25 Q1FY26 1,346 Q1FY25 23.9% 1,314 Q1FY26 Pharma CDMO (INR mn) Agri & Spec Chem (INR mn) 2,015  1% 2,035 30%+ adjusting for inventory de- stocking 393 505 17.1% 835 Q1FY25 2,473 11.4% 629 Q1FY26 API+ (INR mn)  19% 2,954 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1F

Note

1) 2) 3) 4) 5) 6) Till FY23, proforma and adjusted financials of Cohance entities (RAC, ZCL and Avra) have been extracted from report issued by Deloitte Touche Tohmatsu India LLP. Adjusted P&L numbers are reported numbers adjusted out for one-time expenses and income.. Q1 FY25 & FY25 consolidated figures are restated pursuant to Merger and FY25 includes consolidation of Sapala and NJ BIO. Adjusted EBITDA is after One-time adjustment for ESOP, Merger and acquisition costs of Rs.81 Mn and Rs.171 Mn for Q1 FY25 & Q1 FY26 respectively. Exceptional item for Q1 FY26 Rs.81 Mn represents one-time restructuring costs incurred due to merger of the Company with erstwhile Cohance Lifesciences Limited. Exceptional item for FY25 represents compounding fees imposed by the Reserve Bank of India on the erstwhile Cohance Lifesciences Limited. Adjusted PAT is excluding depreciation impact (net of tax) on account of merger /acquisition adjustments of Rs.21 Mn, Rs.37 Mn and Rs.140 Mn for Q1 FY25, Q1 FY26 a

Note

1) Till FY23, proforma and adjusted financials of Cohance entities (RAC, ZCL and Avra) have been extracted from report issued by Deloitte Touche Tohmatsu India LLP. Adjusted P&L numbers are reported numbers adjusted out for one-time expenses and income; FY24 numbers as per audited financials of the merged entity (Cohance). Figures are after adjusting accounting entries relating to mergers 2) Q1 FY26 , Q1 FY25 & FY25 consolidated figures are restated pursuant to Merger 3) 4) Net fixed assets, Other net assets and shareholders funds is excluding goodwill and fair value changes in assets & liabilities on account of mergers/acquisitions PPE includes assets held for sale - As per SPA of Sapala Rs.353 Mn and Sale of CR Bio assets Rs.90 Mn 29 Key Ratios# FY21 FY22 FY23 FY24 FY25 Q1FY26 Basis Net Working Capital (as days of sales) 113 132 125 153 136 132 NWC / Revenue * 365 days PPE (as % of sales) 42.2% 36.1% 37.6% 42.9% 57.2% 55.7% PPE / Revenue Capex spend during the year (INR mn) 1,918 1,6

Note

1) 2) 3) Till FY23, proforma and adjusted financials of Cohance entities (RAC, ZCL and Avra) have been extracted from report issued by Deloitte Touche Tohmatsu India LLP. Adjusted P&L numbers are reported numbers adjusted out for one-time expenses and income; FY24 numbers as per audited financials of the merged entity Key ratios / Return Ratios (ROCE/ROE) are computed on LTM basis considering Net fixed assets, Other net assets and shareholders funds excluding goodwill and fair value changes in assets & liabilities on account of mergers/acquisitions The above ratios for FY25 & Q1FY26 are after considering Sapala and NJBIO consolidation 30 ANNEXURES 31 O M D C a m r a h P I + P A m e h C c e p S F D F Lab & Kilo scale Pilot and Commercial scale (~3,000+ kL capacity) Genome valley, Hyderabad Nacharam, Hyderabad (Oligo CoE) Princeton, New Jersey Suryapet, Telangana Jeedimetla, Hyderabad Pashamylaram, Hyderabad Vizag, Andhra Pradesh Nacharam, Hyderabad Patancheru, Hyderabad Atchutapuram, An