DCAL

Dishman Carbogen Amcis share price & financials

Price
₹191.46
Market cap
₹2.7k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 21 Aug 2026

Dishman Carbogen Amcis Limited Q1 FY27

Revenue 6,776 million −4%EBITDA 600 million −57%EBITDA Margin 6.3%

What went well

  • Marketable Molecules segment revenue grew by 47.93% YoY to INR 1,432 million (Q1 FY27 vs Q1 FY26).
  • Successful MFDS inspection for Naroda site, reinforcing quality commitment.
  • Two new liquid softgel drug products approved in Myanmar.

What to watch

  • Q1 FY27 revenue declined 4.29% YoY to INR 6,776 million due to postponed orders.
  • EBITDA significantly decreased to INR 600 million from INR 1,406 million YoY, resulting in an EBITDA margin of 6.3% (down from 17.9%).
Read the full call →

What Dishman Carbogen Amcis Limited does

Dishman Carbogen Amcis is a fully integrated Contract Development and Manufacturing Organisation (CDMO) that takes drug molecules from process R&D through late-stage clinical and commercial-scale manufacturing of APIs, high-potent APIs (HiPo) and antibody-drug-conjugate (ADC) drug-linkers/bulk-drug-substance/drug-product for global innovator pharmaceutical companies. It also sells its own portfolio of niche marketable molecules, chiefly Vitamin D analogues, cholesterol derived from sheep wool, and lanolin-related products, directly to formulators. The group runs development and manufacturing sites across India, Switzerland, UK, France, the Netherlands and China, with facilities cleared by regulators including USFDA, Swiss Medic, WHO, PMDA and NMPA.

Segments

  • CDMO
  • Marketable Molecules
Manufacturing facilities
23 multi-purpose manufacturing facilities globally
Countries with development & manufacturing sites
6 (India, Switzerland, UK, France, Netherlands, China)
Global clients served
250+
Total team strength (employees)
2,200+
R&D team strength
950+ dedicated scientists/staff across 32 R&D labs (incl. HiPo labs)
Total commercialised molecules
29
Founded 1983Headquarters Ahmedabad, IndiaEmployees 2,200 (FY26) Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 0 delivered 6 missed 14 open
  • EBITDA Margin (Group Level) for FY26 missed said Q3 FY25 Promised: 20% for FY26 Q1 FY27: The target for FY26 was missed. No new information.
  • Annual Net Debt Reduction at risk said Q4 FY25 Promised: ₹100-200 crores every year Q1 FY27: Net debt increased from CHF 146.8M to CHF 153.6M during the quarter, reversing the reduction trend and putting the renewed annual target of CHF 10-15M reduction at risk.
  • French Subsidiary Profitability on track said Q3 FY25 Promised: Breakeven in FY26 Q1 FY27: Management anticipates double-digit growth in the French entity in FY28-29 and noted the subsidiary is gaining market recognition, supporting the delayed FY28 breakeven target.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 4.2%, net profit down 352.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue789 682 716 708 653 −17%720 +6%851 +19%678 −4%
EBITDA147 140 153 141 149 +1%113 −19%163 +7%60 −57%
Net profit33 5 43 23 65 +97%-13 −360%22 −49%-58 −352%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −38.5% 1Y

₹150₹200₹250₹300Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 4 Feb 2026Q4 FY26 — 20 May 2026Q1 FY27 — 21 Aug 2026

1Y: ₹271.75 on 10 Sept 2025 → ₹167.25. High ₹314.4 (22 Sept 2025), low ₹129.97 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+0.7%
21 Aug
Q4 FY26
+12.2%
20 May
Q3 FY26
−7.8%
4 Feb
Q2 FY26
−10.0%
5 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 6.7% a year over 3 years, FY23 to FY26. Operating margin widened to 19.3%.

Year endingFY23FY24FY25FY26
Revenue₹2.4k Cr₹2.6k Cr₹2.7k Cr₹2.9k Cr
Operating profit₹332 Cr₹287 Cr₹469 Cr₹566 Cr
Operating margin13.8%11.0%17.3%19.3%
Interest₹85 Cr₹119 Cr₹160 Cr₹174 Cr
Depreciation₹281 Cr₹310 Cr₹294 Cr₹338 Cr
Net profit₹-30 Cr₹-154 Cr₹3 Cr₹97 Cr
Net margin-1.2%-5.9%0.1%3.3%
Cash from operations₹266 Cr₹379 Cr₹375 Cr₹491 Cr
Free cash flow₹-352 Cr₹76 Cr₹160 Cr₹225 Cr
ROCE1.0%0.0%2.0%3.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr
Reserves₹5.7k Cr₹5.5k Cr₹5.8k Cr₹5.6k Cr₹6.3k Cr₹6.6k Cr
Borrowings₹1.6k Cr₹1.8k Cr₹2.2k Cr₹2.3k Cr₹2.6k Cr₹3.1k Cr
Other liabilities₹1.1k Cr₹1.3k Cr₹1.4k Cr₹1.6k Cr₹2.2k Cr₹2.2k Cr
Total liabilities₹8.4k Cr₹8.6k Cr₹9.4k Cr₹9.6k Cr₹11.1k Cr₹11.9k Cr
Fixed assets₹5.7k Cr₹5.8k Cr₹6.2k Cr₹6.7k Cr₹8.0k Cr₹8.4k Cr
Capital work in progress₹486 Cr₹780 Cr₹1.0k Cr₹646 Cr₹309 Cr₹275 Cr
Investments₹172 Cr₹324 Cr₹249 Cr₹102 Cr₹91 Cr₹91 Cr
Other assets₹2.0k Cr₹1.8k Cr₹2.0k Cr₹2.1k Cr₹2.8k Cr₹3.2k Cr
Total assets₹8.4k Cr₹8.6k Cr₹9.4k Cr₹9.6k Cr₹11.1k Cr₹11.9k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −3.08 pp while the public added +2.28 pp.

Promoters
59.3%
FIIs
6.9%
DIIs
2.1%
Public
31.8%

Since Jun 2025

  • FIIs −3.08 pp
  • Public +2.28 pp
  • DIIs +0.79 pp

How it drifted, 12 quarters

Over this window the public went from 28.4% to 31.8% — +3.4 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 59.3%, FIIs 8.8%, DIIs 3.5%, Public 28.4%.Dec '23: Promoters 59.3%, FIIs 8.6%, DIIs 3.7%, Public 28.4%.Mar '24: Promoters 59.3%, FIIs 8.7%, DIIs 2.4%, Public 29.6%.Jun '24: Promoters 59.3%, FIIs 8.1%, DIIs 1.5%, Public 31.2%.Sep '24: Promoters 59.3%, FIIs 8.2%, DIIs 1.2%, Public 31.3%.Dec '24: Promoters 59.3%, FIIs 8.8%, DIIs 1.4%, Public 30.5%.Mar '25: Promoters 59.3%, FIIs 9.5%, DIIs 1.3%, Public 29.9%.Jun '25: Promoters 59.3%, FIIs 9.9%, DIIs 1.3%, Public 29.5%.Sep '25: Promoters 59.3%, FIIs 8.1%, DIIs 1.4%, Public 31.2%.Dec '25: Promoters 59.3%, FIIs 7.7%, DIIs 1.3%, Public 31.8%.Mar '26: Promoters 59.3%, FIIs 7.5%, DIIs 1.6%, Public 31.6%.Jun '26: Promoters 59.3%, FIIs 6.9%, DIIs 2.1%, Public 31.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Dishman Carbogen Amcis Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Adimans Technologies LLP 59.32%unchanged
Mukul Mahavir Agrawal 5.50%unchanged
Massachusetts Institute Of Technology Endowment2.28%unchanged
Hbm Healthcare Investments (Cayman) Ltd FPI fund2.19%unchanged
HSBC Mutual Fund - HSBC Flexi Cap Fund Mutual fund1.41%+0.35 pp
Saloni A. Vyas 0.00%unchanged
Azafran Innovacion Ltd 0.00%unchanged
Dishman Biotech Ltd 0.00%unchanged
Dishman Infrastructure Ltd 0.00%unchanged
Leon Hospitality Pvt Ltd 0.00%unchanged
Aham Brahmasmi Entertainment Pvt Ltd 0.00%unchanged
Discus IT Private Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Dishman Carbogen Amcis Limited

Guides on how to read this kind of business and the numbers that matter.