Earnings Call Transcript

11 August 2026 To To BSE Limited National Stock Exchange of India Limited 25th Floor, P. J. Towers, Exchange Plaza, Bandra Kurla Complex Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai – 400 051 Code: 543064 Symbol: COHANCE Dear Sir/Madam, Sub: Transcript of the earnings conference call held on 05 August 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the earnings conference call held on 05 August 2026. You are requested to take the above on record. Thanking you. Yours faithfully, For Cohance Lifesciences Limited (formerly, Suven Pharmaceuticals Limited) Sisir K. Mishra Company Secretary & Compliance Officer Encl: as above Cohance Lifesciences Limited Q1 FY27 Earnings Conference Call August 5, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Conference Call of Cohance Lifesciences. Before we begin, I would like to remind you that today's discussion may include forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. We encourage you to review the disclosures filed by the company. I now hand the conference over to Ms. Cyndrella Carvalho. Over to you, ma'am. Cyndrella Carvalho: Thank you, Dorwin. Good evening and good morning, everyone. Thanks for joining Cohance Lifesciences Q1 FY27 Earnings Call. Today with me, I have our Executive Chairman and Group CEO, Mr. Umang Vohra, Mr. Yann D’Herve, CEO, Pharma CDMO, Mr. Gunjan Singh, CEO, API+, Mr. Amrit Singh, CEO, Specialty Chemicals, and our CFO, Mr. Himanshu Agarwal. With that, I will hand it over to Umang for his opening remarks. Umang Vohra: Thank you, Cyndrella, and good evening, good morning to everyone. As we had indicated in our previous earnings call, Q1 of this year would be our lowest quarter ever, and that is how the quarter has played out. From here onwards, we expect improvement in Q2FY27 and the return to year-on- year growth from the second half. This will be supported by scheduled commercial program deliveries, execution of the restocking orders, progressive normalization in the effective operations, and improving utilization across our platform. The customized ADC payload order remains on schedule for delivery in Q2FY27. In oligonucleotides, shipments under a program supporting an orphan drug candidate commenced from Sapala during quarter one, providing additional visibility to our revenue trajectory. Customer qualifications and new program awards should progressively support growth through the year. My recent interactions with customers highlighted that they are seeking dependable partners who can combine innovation with supply chain resilience, what we describe as innovation plus one approach. Cohance is positioned to participate because we can support programs from early development through scale-up and commercial supply while bringing specialized chemistry and manufacturing capabilities into a common operating system. I would like to spend some time on two areas where I have invested my initial time. The first is our broader nucleic acid business, anchored in our subsidiary, Sapala. What we have heard consistently from customers is that they would like to engage with us as an integrated nucleic acid offering bringing together chemistry, development, manufacturing, and commercial supply. Page 1 of 16 We have, therefore, begun aligning these capabilities into one operating approach. Dr. P.Y. Reddy has agreed to lead this combined nucleic acid business through FY30, in addition to continuing as the CEO of Sapala. We are also aligning R&D, business development, manufacturing, and commercial execution across the platform and deploying capital selectively commercializing the new amidites facility and expanding our oligonucleotide capabilities in line with customer demand. Alongside this, we have also agreed to a clear path to ownership of Sapala, fast-growing and highly profitable business by FY30. Dr. P.Y. Reddy remains invested and will continue to lead the business through this period. Hence, the first change is about building one integrated nucleic acid business with clear leadership, operating accountability, and a defined path to full ownership. Yann will take you through the operating progress on our nucleic acid business. The second area is specialty chemicals, and more specifically, agrochemicals. As you are aware since the last few months, we have been trying to source and add innovative products and partnerships to improve the relevance of our business to our partners. Our assessment is that this business is relevant chemistry, established customer relationships, and a credible pipeline of innovative programs. We have now addressed this by starting to revamp our capacities for the next set of agrochemical programs. We are working towards a more integrated organization and a clear governance model for this business. Amrit will take you through the aspects of our business in greater detail. Let me now come to the operating priorities for Cohance. There are five areas we are working on. First is strengthening our safety and quality systems through enhanced process safety reviews, greater automation, and closed handling of critical operations, independent site audits, stronger data systems, and tighter control practices. These initiatives are intended to make our operating foundation more consistent, scalable, and inspection-ready across the network. During Q1FY27, we had multiple audits by large innovator partners across the pharma CDMO platform, including our API manufacturing sites. These audits were completed without any critical findings, reinforcing customer confidence in our operating systems. Second, we are progressing the organizational and operational integration of our newer platforms, including the alignment of R&D, manufacturing, and commercial teams. In parallel, we are evaluating targeted capacity additions across small molecules, ADCs, API+, and specialty chemicals to support next phase of growth. Third, our growth agenda is becoming more focused. In small molecule CDMO, the priority is to deepen strategic customer relationships and pursue opportunities for forward integration. In ADCs, we are building an increasingly integrated offering across payloads, linkers, and bioconjugation. In API+, we are expanding selectively into adjacent higher value opportunities and innovator life cycle management programs. In oligonucleotides, the focus is on operationalizing our GMP facility and progressively commercializing selected product families. Specialty chemicals will concentrate on adding anchor relationships and identifying growth drivers in the innovation domain. Fourth, we are building the organization's scientific envelope by strengthening the R&D structure, increasing access to external scientific expertise, and identifying new capabilities that can create differentiated customer value over time. Page 2 of 16 And finally, and fifth, we are reinforcing a One Cohance culture, bringing together the capabilities, teams, and operating practices of the combined organization around common standards of accountability, execution, and customer focus. My confidence comes from the strength of the underlying customer relationships and scientific capabilities, and from multiple distinct engines of growth within Cohance. There are also tangible indicators of progress within our pharma CDMO business. We have received significant restocking orders for commercial molecules, of which Yann will give more color indetail in his presentation. Our commercial OTIF remained at a very high rate of almost close to 100%. Our progress is also receiving external recognition. Cohance achieved the EcoVadis Gold, strong CDP ratings, and an SBTi validation, while our sites were recognized by the British Safety Council and the Andhra Pradesh Fire Services Department. We also success [Showing first 8,000 characters — download PDF for full document]