Dishman Carbogen Amcis Limited — PPTs, 04-09-2025: Investor Presentation

Dishman Carbogen Amcis (DCAL) posted a robust LTM Q1FY26 consolidated revenue of ₹289.58 Cr, with a strong EBITDA margin of 20.1%. Its core CDMO business is the primary growth engine, contributing 85.7% of revenue. The underlying strength is clear from the CDMO segment's FY25 revenue of ₹202.43 Cr and PAT of ₹21.97 Cr, delivering impressive RoE of 22.9% and RoCE of 25.1%, which are masked by overall consolidated figures.

Growth is driven by a "Swiss Precision, Indian Scale" model, leveraging global innovation hubs for cost-effective manufacturing. DCAL's differentiated capabilities span High Potency APIs, ADC & Bioconjugates, and advanced formulations. Recent developments include a new oncology drug linker agreement, EDQM/USFDA re-approvals for its Bavla plant, and its new French injectable facility receiving GMP certification in FY25.

The company's strategy focuses on expanding its French facility, growing in niche areas like ADCs, and achieving operational efficiencies through integration and shifting manufacturing to India. Management anticipates improved capacity utilization from recent facility approvals and a strong FY26 orderbook of ₹230.94 Cr. Net Debt/EBITDA is down to 2.8x LTM Q1FY26.