COHANCE Q1 FY27 Guidance vs Delivery (COHANCE Management Mirror)

FY26 Consolidated Revenue Reported Down 13%, Meeting Early-to-Mid Double-Digit Decline Guidance; FY27 Return to Growth Pushed to H2

In the Dec'25 Qtr concall, management lowered the FY26 revenue outlook to an early-to-mid double-digit decline. In the Mar'26 Qtr results, FY26 consolidated revenue was reported at INR 22.68 billion, down approximately 13% YoY, aligning with the revised guidance. For FY27, management initially guided in the Dec'25 Qtr for a return to growth. In the Mar'26 Qtr concall, this was refined to indicate that Q1 FY27 would be the low point, with recovery highly visible in H2 FY27. In the Jun'26 Qtr results, Q1 FY27 consolidated revenue was reported at 422.3 million, down 23% YoY. Management expects sequential improvement in Q2 FY27 and a return to YoY growth from H2 FY27.