Mumbai, Aug. 25 -- The brokerage said Cohance is well-positioned to benefit from Antibody Drug Conjugate (ADC) industry tailwinds, supported by a strong pipeline and multiple growth levers.

It expects destocking pressures in specialty chemicals and Pharma CDMO to ease soon, with recovery likely from FY26. Backed by integrated ADC offerings, a robust pipeline, and cross-selling opportunities, Cohance is projected to deliver 20% sales CAGR and 26% EBITDA CAGR over FY25-28, making it the broker's top ADC play in India.

Cohance Lifesciences, formerly Suven Pharmaceuticals, is an innovator-focused global CRDMO formed through the merger of Cohance Life Sciences into Suven Pharmaceuticals.

Its consolidated net profit (adjusted) stood at Rs 62...