Suven Pharmaceuticals Ltd. (COHANCE) AI Stock Analysis

• Market Cap: ₹112.57B
• Dividend Yield: N/A
• Average Volume (3M): 116.47K
• Price to Earnings (P/E): 92.3
• Beta (1Y): 0.60
• Revenue Growth: 88.74%
• EPS Growth: -14.95%
• Country: IN
• Employees: 1,193
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.97
• Shares Outstanding: 382,567,140
• 10 Day Avg. Volume: 24,499
• 30 Day Avg. Volume: 116,469
• PEG Ratio: -9.48
• Price to Book (P/B): 16.23
• Price to Sales (P/S): 23.00
• P/FCF Ratio: 207.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 7.83
• Revenue Forecast (FY): ₹23.84B

• Rating: 56 Neutral
• Price Target: ₹291.00 ▼(-67.34% Downside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

Financial strength is the main positive (growth and a solid, low-debt balance sheet), but the score is pulled down by very weak technicals (sharp downtrend and negative momentum) and a demanding valuation (high P/E with no dividend yield provided).

Positive Factors

Robust revenue growth

Near-100% reported revenue growth indicates the company is successfully scaling CDMO programs and winning business. Durable top-line expansion improves fixed-cost absorption, funds reinvestment into capacity and R&D, and strengthens bargaining power with regulator-focused customers over the medium term.

CDMO/CRAMS business model and capabilities

A focused CDMO model serving complex small-molecule APIs creates structural demand from innovator pharma and biotech clients. Technical know-how and regulatory-compliant manufacturing are high barriers to entry, supporting recurring project pipelines and long-term client stickiness as programs move toward commercialization.

Healthy balance sheet and strong ROE

Low leverage and a solid equity base provide financial stability and flexibility to fund capex or weather regulatory delays without overreliance on external financing. Strong ROE signals effective capital deployment, supporting sustainable investment in capacity and the ability to pursue strategic CDMO opportunities.

Negative Factors

EPS contraction / declining net income

A large negative EPS growth rate signals margin pressure or one-off hits that reduce earnings power. Sustained EPS contraction can limit internal funding for expansion, lower earnings resilience to project delays, and may reflect operational or pricing challenges that impair long-term profitability.

Weakened free cash flow

Declining free cash flow reduces capacity to self-fund growth, pay down debt, or return capital. Higher capex with falling operating cash makes the business more reliant on external financing for expansion, which can constrain strategic flexibility and slow capacity-driven revenue realization over the medium term.

Revenue dependence on customer program progression

CDMO revenues are lumpy and tied to clients advancing programs through development and commercialization. Delays, trial failures, or lost renewals create material revenue volatility. High customer concentration magnifies this risk, making long-term revenue visibility and predictability weaker than in diversified manufacturing businesses.

Suven Pharmaceuticals Ltd. Business Overview & Revenue Model

Company Description

Cohance Lifesciences Limited is a Hyderabad-based pharmaceutical company specializing in contract development and manufacturing (CDMO) services, active pharmaceutical ingredients (APIs), and specialty chemicals. The company was formerly known as Suven Pharmaceuticals Limited and underwent a rebranding following its merger with Cohance Lifesciences, effective May 1, 2025.

How the Company Makes Money

Suven Pharmaceuticals primarily makes money through contract services (CDMO/CRAMS), where it is paid by other pharmaceutical and biotech companies to develop processes and manufacture small-molecule APIs and intermediates. Revenue is generated via (1) development/service income for activities such as route scouting, process research and development, analytical development, and scale-up support, typically billed on a project, milestone, or time-and-material basis depending on contract terms; and (2) manufacturing/supply income from producing and delivering intermediates and APIs at commercial scale once a customer’s product progresses to later-stage clinical development or commercialization, generally earned per batch or per contracted supply volume. The company’s earnings are therefore driven by the number of customer programs in its pipeline, their progression from early development to commercial supply (which increases volumes and repeat orders), customer concentration and renewals, pricing and capacity utilization, and compliance with quality/regulatory expectations required by regulated-market clients. Specific details on significant partnerships, customer identities, or contract structures are null.

Suven Pharmaceuticals Ltd. Financial Statement Overview

Summary

Strong revenue growth and solid profitability metrics supported by a strong balance sheet (low leverage, healthy ROE). Offsetting factors include a decline in net income and weaker free cash flow in the most recent period.

Income Statement

Suven Pharmaceuticals has shown consistent revenue growth over the years, with a notable increase from 2024 to 2025. The gross profit margin remains strong, indicative of efficient production processes. However, the decline in net income from 2024 to 2025 suggests potential challenges in managing operating expenses or increased competition. The EBITDA margin indicates a stable operational performance despite reduced EBIT margins.

Balance Sheet

The company's balance sheet reflects a solid equity base with relatively low debt levels, as evidenced by the favorable debt-to-equity ratio. Return on Equity (ROE) remains strong, highlighting the company's ability to generate returns from shareholders' investments. The equity ratio indicates a healthy balance between debt and equity financing, providing stability and reducing financial risk.

Cash Flow

Cash flow analysis shows a decline in free cash flow from 2024 to 2025, primarily due to reduced operating cash flow and increased capital expenditures. The operating cash flow to net income ratio suggests efficient cash generation relative to income, though the free cash flow to net income ratio has weakened, indicating less cash available after investment activities.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	18.14B	11.98B	10.51B	13.40B	13.20B	10.10B
Gross Profit	12.65B	8.22B	6.80B	7.52B	7.46B	5.73B
EBITDA	4.30B	4.06B	4.09B	5.73B	5.79B	4.41B
Net Income	2.48B	2.68B	3.00B	4.11B	4.54B	3.62B
Balance Sheet
Total Assets	55.68B	30.32B	22.54B	19.66B	18.30B	14.74B
Cash, Cash Equivalents and Short-Term Investments	4.03B	2.90B	8.21B	4.84B	5.26B	1.88B
Total Debt	4.51B	2.79B	649.96M	703.41M	971.27M	1.43B
Total Liabilities	16.44B	11.91B	2.03B	2.31B	3.02B	2.94B
Stockholders Equity	37.88B	16.97B	20.51B	17.35B	15.27B	11.81B
Cash Flow
Free Cash Flow	1.71B	1.32B	3.07B	1.65B	2.55B	2.73B
Operating Cash Flow	2.61B	2.88B	3.58B	4.51B	3.30B	3.83B
Investing Cash Flow	-1.94B	-2.55B	-3.62B	-1.95B	-1.36B	-3.11B
Financing Cash Flow	-828.50M	33.20M	-138.02M	-2.36B	-1.56B	-765.53M

Suven Pharmaceuticals Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 891.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:COHANCE, the sentiment is Negative. The current price of 891.1 is above the 20-day moving average (MA) of 301.69, above the 50-day MA of 367.09, and above the 200-day MA of 730.88, indicating a bearish trend. The MACD of -21.66 indicates Negative momentum. The RSI at 34.61 is Neutral, neither overbought nor oversold. The STOCH value of 56.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:COHANCE.

Suven Pharmaceuticals Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IPCALAB	74 Outperform	₹394.49B	27.58	―	0.28%	9.66%	25.79%
AJANTPHARM	72 Outperform	₹368.82B	31.59	―	1.04%	10.74%	11.91%
LAURUSLABS	66 Neutral	₹518.72B	59.42	―	0.15%	25.83%	421.20%
BIOCON	63 Neutral	₹610.08B	91.56	―	0.12%	10.62%	-66.88%
COHANCE	56 Neutral	₹112.57B	92.29	―	―	88.74%	-14.95%
GLENMARK	53 Neutral	₹613.96B	35.61	―	0.24%	30.27%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Suven Pharmaceuticals Ltd. Corporate Events

Cohance Lifesciences to Engage Investors at IIFL and Kotak Conferences in February 2026

Cohance Lifesciences Limited has announced that its management will participate in the IIFL Entrepreneurial India Conference in Mumbai on February 25, 2026, and the Kotak Chasing Growth Conference on February 26, 2026, engaging in both group and one-on-one meetings with analysts and institutional investors. The company emphasized that no unpublished price-sensitive information will be shared and noted that the schedule may change due to exigencies, underscoring its adherence to SEBI disclosure norms while actively maintaining dialogue with the investment community.