Dishman Carbogen Amcis Limited — PPTs, 12-02-2025: Investor Presentation

**Financial Highlights:** Dishman Carbogen Amcis reported net revenue of ₹6,823.4 mn for Q3 FY25, up 4.8% YoY. The company recorded an impressive EBITDA of ₹1,406.6 mn, substantially improving its margin to 20.6%, compared to just 6.5% in Q3 FY24. This growth was driven by higher revenues in its CARBOGEN AMCIS – CRAMS segment, which saw a margin increase from 19.9% to 23.7%. For the first nine months of FY25, revenues climbed to ₹19,951.6 mn, leading to a cash profit of ₹2,119 mn.

**Strategic Initiatives and Growth Drivers:** The company is expanding its manufacturing capabilities, including new injectables plants and additional development facilities in Switzerland. This aligns with its strategy to target small to mid-sized biotech firms and diversify globally.

**Business Developments:** Notably, DCAL India saw a significant 28.5% increase in revenue from NCE APIs and intermediates, bolstered by recent EDQM clearance. The ADC & Bioconjugation business also shows promise with several successful collaborations and ongoing discussions with potential partners.

**Market Position and Competitive Advantage:** Dishman maintains a strong presence in the oncology and specialty chemicals markets, with multiple late-phase molecules and a strong pipeline for future growth.

**Investor Implications:** The solid financial performance and strategic initiatives point to a positive outlook. Investors should watch for ongoing developments in manufacturing that may sustain growth momentum and enhance valuation.