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COHANCE - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.6

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 3.6

Stock Code COHANCE Market Cap 11,730 Cr. Current Price 306 ₹ High / Low 1,250 ₹
Stock P/E 34.7 Book Value 115 ₹ Dividend Yield 0.00 % ROCE 16.0 %
ROE 12.5 % Face Value 1.00 ₹ DMA 50 366 ₹ DMA 200 645 ₹
Chg in FII Hold -0.50 % Chg in DII Hold 0.76 % PAT Qtr 50.8 Cr. PAT Prev Qtr 94.3 Cr.
RSI 43.2 MACD -17.3 Volume 5,44,590 Avg Vol 1Wk 8,78,332
Low price 267 ₹ High price 1,250 ₹ PEG Ratio -1.68 Debt to equity 0.05
52w Index 4.03 % Qtr Profit Var -67.0 % EPS 9.90 ₹ Industry PE 27.6

📊 Financial Overview

  • Revenue & Profitability: Quarterly PAT fell sharply from 94.3 Cr. to 50.8 Cr., showing significant weakness. EPS at 9.90 ₹ is modest relative to valuation.
  • Margins & Returns: ROE at 12.5% and ROCE at 16.0% are moderate, reflecting average efficiency.
  • Debt Profile: Debt-to-equity ratio of 0.05 indicates negligible leverage, ensuring financial stability.
  • Cash Flow: Dividend yield at 0.00% shows no direct shareholder returns despite profitability.

💹 Valuation Indicators

  • P/E Ratio: 34.7 vs Industry PE of 27.6 → trading at a premium valuation.
  • P/B Ratio: Current Price 306 ₹ vs Book Value 115 ₹ → P/B ~2.66, moderately expensive.
  • PEG Ratio: -1.68 → distorted due to earnings decline, limiting valuation clarity.
  • Intrinsic Value: Trading above intrinsic value, suggesting limited upside.

🏢 Business Model & Competitive Advantage

  • Cohance Lifesciences operates in pharmaceuticals and specialty chemicals, focusing on APIs and intermediates.
  • Competitive advantage lies in niche product offerings and diversified portfolio, though profitability is under pressure.
  • Low leverage provides resilience, but earnings volatility is a concern.

📈 Technical & Entry Zone

  • Stock trading at 306 ₹, below 50 DMA (366 ₹) and 200 DMA (645 ₹), showing bearish momentum.
  • RSI at 43.2 indicates neutral-to-oversold momentum; MACD negative suggests continued weakness.
  • Entry Zone: Attractive between 290–305 ₹ for cautious accumulation, with long-term holding potential.

✅ Positive

  • Low debt-to-equity ratio (0.05) ensures financial stability.
  • Increase in DII holdings (+0.76%) signals domestic institutional confidence.
  • Moderate ROE (12.5%) and ROCE (16.0%) provide some efficiency support.

⚠️ Limitation

  • High P/E (34.7) compared to industry PE (27.6) indicates premium valuation.
  • Quarterly PAT decline (-67%) highlights earnings volatility.
  • No dividend yield, limiting shareholder returns.

📉 Company Negative News

  • No major recent negative news, but sharp profit decline and reduced FII holdings (-0.50%) raise caution.

📈 Company Positive News

  • Increase in DII holdings (+0.76%) shows confidence from domestic institutions.
  • Debt-free status provides resilience in volatile markets.

🏭 Industry

  • Pharmaceutical and specialty chemicals sector benefits from global demand for APIs and intermediates.
  • Industry PE at 27.6 indicates moderate valuations compared to COHANCE’s premium.
  • Competition from global and domestic pharma players remains a challenge.

🔮 Conclusion

  • COHANCE shows moderate fundamentals with low leverage and niche strengths but faces valuation concerns and earnings volatility.
  • Valuation is stretched, limiting near-term upside, though long-term demand for APIs supports growth.
  • Recommendation: Accumulate cautiously in the 290–305 ₹ range for long-term holding, focusing on pharmaceutical demand and specialty chemical growth.

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