Cohance Lifesciences Limited has received a disclosure under SEBI takeover regulations from Jasti Property and Equity Holdings Private Limited, acting as sole trustee of Jasti Family Trust, regarding changes in shareholding patterns. The disclosure, dated February 20, 2026, was submitted to both NSE and BSE pursuant to Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeover) Regulations, 2011.

Shareholding Changes Overview

The Jasti Family Trust and its persons acting in concert (PAC) have reduced their combined shareholding in Cohance Lifesciences from 6.59% to 6.36% of the total share capital. The transaction involved 78,76,948 shares, representing 2.06% of the company's total voting capital.

Transaction Details

The shareholding reduction was executed through open market transactions and inter-se transfers via block deals on February 18, 2026. According to the disclosure, out of the total 78,76,948 shares involved, 8,76,948 shares (representing 0.23% of total equity) were sold in the open market during the period from September 8, 2025, to January 8, 2026.

Entities Involved

The disclosure covers the following entities and their respective holdings:

Primary Acquirer

• Jasti Property and Equity Holdings Private Limited (as sole trustee): Reduced from 2,51,92,957 shares (6.59%) to 1,73,16,009 shares (4.53%)

Persons Acting in Concert

• Mrs. Venkata Subbamma Jasti: 6000 shares (negligible percentage)
• Mr. Venkateswarlu Jasti: 2000 shares (negligible percentage)
• Mrs. Sudharani Jasti: 2000 shares (negligible percentage)
• Jasub Property Holdings LLP: Increased from 0 shares to 70,00,000 shares (1.83%)

Company Capital Structure

The company's equity share capital remained unchanged at 38,25,67,140 shares, while the total diluted share capital stands at 39,22,07,995 shares, assuming full conversion of outstanding convertible securities and warrants.

Regulatory Compliance

The disclosure confirms that the acquirer does not belong to the promoter or promoter group of Cohance Lifesciences Limited. The transaction was conducted in compliance with SEBI regulations, with proper notifications submitted to both stock exchanges where the company's shares are listed - BSE Limited and National Stock Exchange of India Limited.

The disclosure was signed by Venkateswarlu Jasti on behalf of Jasti Property and Equity Holdings Private Limited in its capacity as sole trustee of Jasti Family Trust, with copies provided to the company secretary of Cohance Lifesciences Limited.

Cohance Lifesciences Limited has released the comprehensive transcript of its quarterly earnings conference call for Q3FY26 and nine months ended December 31, 2025. The detailed transcript provides extensive insights into the company's performance challenges and strategic outlook.

Financial Performance Overview

The company reported significant revenue challenges during the period, with management acknowledging that recent performance has fallen below expectations. The nine-month FY26 revenue declined by 6.7% to ₹1,650 crore, while Q3 FY26 revenue dropped by 19.5% to ₹545 crore.

Business Segment Challenges

Executive Chairman Vivek Sharma outlined specific factors impacting performance. The Pharma CDMO business experienced a 27% year-on-year decline in Q3, though when adjusted for destocking effects, it showed 7% growth. Destocking in two large commercial products impacted revenue by nearly ₹260 crore as customers normalized inventories.

The API Plus segment faced regulatory challenges, with the Nacharam formulation facility receiving a warning letter following OAI status, leading to shipment deferrals of approximately ₹55 crore. The Specialty Chemicals segment reported 32% growth to ₹1.9 billion for nine months.

Strategic Developments and Pipeline

CEO Pharma CDMO Yann D'Herve highlighted positive developments despite near-term challenges. The company currently supports nine Phase 3 programs across its portfolio, with four molecules expected to move into commercial supply during the coming fiscal year across therapy areas including pulmonary, ADHD, anti-diabetic, and oncology.

Management Outlook

The management team revised FY26 revenue outlook to reflect an early-to-mid double-digit decline but expressed confidence in FY27 growth prospects. CFO Himanshu Agarwal emphasized that the challenges are timing and product mix related rather than structural in nature.

Despite earning volatility, the business generated free cash flow of ₹175 crore during the first nine months of FY26. The company remains committed to its USD 1 billion sales target, though timing may shift slightly due to current year challenges.

Conference Call Availability

The earnings conference call was conducted on February 12, 2026, with the complete transcript now available following the company's earlier intimation dated January 22, 2026. The disclosure was made pursuant to Regulation 30 of SEBI regulations, ensuring transparency with stakeholders.

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