Dishman Carbogen Amcis Ltd.

•

dishmangroup.comBSE: 540701NSE: DCAL

Market Cap₹ 2,734 Cr.

Current Price

High / Low₹ 322 / 128

Stock P/E0.0

Book Value₹ 246

Price to Book0.85

Dividend Yield0.00 %

ROCE0.9 %

ROE-0.2 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Recent results are weak - TTM profit is down 258.3% versus prior year
Company has a low return on capital employed of -0.2%
Company has a low return on equity of -1.2% over last 3 years
Interest coverage is weak at 0.6x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.19x)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SUNPHARMA	1899.00	37.67	455633.71	0.84	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9100.00	82.59	241576.41	0.33	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4850.00	84.58	184478.41	0.78	566.00	3.28	4921.00	57.32	19.27	33.81
4.	CIPLA	1385.00	33.19	111888.39	0.94	785.55	-39.18	7119.28	4.13	16.00	16.73
5.	ZYDUSLIFE	1121.00	24.78	111820.18	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
6.	LAURUSLABS	1840.00	90.93	99417.45	0.11	3620.70	2139.42	20263.10	1191.00	18.20	31.50
7.	LUPIN	2111.00	17.46	96528.82	0.85	1416.98	16.01	8276.89	34.28	28.86	29.59
8.	DRREDDY	1154.00	29.89	96322.06	0.69	435.60	-69.10	8099.80	-5.21	13.75	10.63
9.	MANKIND	2328.55	47.09	96179.61	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
10.	AUROPHARMA	1653.30	25.62	95127.23	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
11.	GLENMARK	2427.00	38.10	68495.93	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	DCAL	174.40	169.20	2734.30	0.00	-57.88	-347.24	677.64	-4.29	2.31	8.87

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70	60	87	111	103	93	97	106	63	60	40	69	57
	75	63	84	100	89	80	74	86	59	56	43	68	106
Operating Profit	-5	-3	3	12	15	13	23	21	3	4	-4	1	-49
OPM %	-7.22%	-4.89%	3.65%	10.40%	14.41%	14.36%	23.66%	19.35%	5.46%	7.31%	-8.82%	1.43%	-85.67%
	14	36	13	-3	12	24	-8	5	37	11	7	29	21
Interest	18	17	17	16	16	16	18	21	20	21	24	22	22
Depreciation	25	25	26	26	16	16	16	16	16	16	15	15	15
Profit before Tax	-33	-9	-27	-34	-6	5	-19	-11	4	-21	-35	-7	-32
Tax %	35.42%	37.58%	32.87%	7.46%	37.59%	-161.95%	31.19%	35.41%	35.19%	34.68%	34.05%	41.98%	24.57%
Net Profit	-21	-6	-18	-31	-3	14	-13	-7	3	-14	-23	-4	-24
	-1.36	-0.37	-1.16	-1.98	-0.22	0.91	-0.85	-0.47	0.17	-0.87	-1.47	-0.28	-1.52

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	7	451	474	549	581	200	307	403	327	400	226
	5	303	316	356	407	253	273	395	321	328	273
Operating Profit	2	148	159	194	174	-53	34	8	7	72	-47
OPM %	24.67%	32.81%	33.49%	35.27%	29.89%	-26.35%	11.02%	1.93%	2.08%	17.95%	-20.82%
	0	71	73	72	70	66	60	50	60	33	68
Interest	1	39	35	47	47	34	37	58	68	70	88
Depreciation	0	136	134	136	141	141	140	96	102	65	61
Profit before Tax	1	44	62	82	55	-162	-83	-96	-103	-31	-95
Tax %	11.88%	44.80%	40.37%	31.47%	30.54%	-39.58%	63.43%	38.80%	25.82%	67.99%	31.65%
Net Profit	1	24	37	56	39	-226	-30	-59	-76	-10	-65
EPS	35.69	1.50	2.30	3.47	2.46	-14.85	-2.01	-3.75	-4.87	-0.63	—
Dividend Payout %	0.00%	—	0.00%	5.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: -7%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -2%
3 Years:: 3%
1 Year:: -34%

RETURN ON EQUITY

10 Years:: -1%
5 Years:: -2%
3 Years:: -1%
Last Year:: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0	0	32	32	31	31	31	31	31	31
	0	-39	4,759	4,860	4,764	4,643	4,200	4,083	4,021	3,999
	9	519	620	541	510	441	585	738	675	716
Trade Payables	0	58	88	94	86	54	54	85	116	72
	3	4,999	464	289	519	529	491	391	380	451
Total Liabilities	12	5,537	5,964	5,816	5,911	5,699	5,361	5,328	5,224	5,269
	0	1,927	1,853	1,715	1,633	1,510	1,356	1,382	1,416	1,401
Capital Work in Progress	0	29	16	38	57	79	114	142	73	41
	0	2,761	2,937	2,907	2,900	2,882	3,032	2,913	2,848	2,841
	0	152	169	223	214	184	197	183	170	134
	0	0	0	0	0	0	0	0	184	175
Cash & Bank	1	40	21	47	65	80	86	68	10	87
	12	627	968	886	1,042	963	576	640	523	590
Total Assets	12	5,537	5,964	5,816	5,911	5,699	5,361	5,328	5,224	5,269

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	308	46	139	215	6	233	-49	24	56
Cash from Investing	0	-19	-175	-24	-74	62	-173	41	97	-80
Cash from Financing	-2	-225	142	-85	-124	-71	-46	1	-131	88
	1	26	-12	10	-2	-10	9	-11	-10	64

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	35.60	0.00	2.30	3.47	2.46	-14.42	-1.94	-3.75	-4.87	-0.63
Book Value (₹)	13.20	0.00	296.88	303.12	305.66	298.13	269.88	262.39	258.46	257.05
Dividend per Share (₹)	0.00	0.00	0.00	0.20	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	35.60	0.00	10.63	11.92	11.42	-5.41	6.99	2.38	1.61	3.53
PROFITABILITY
Operating Margin %	29.37%	48.49%	48.89%	48.31%	41.87%	6.74%	32.58%	14.89%	2.08%	17.95%
Net Margin %	13.07%	5.37%	7.81%	10.19%	6.63%	-112.89%	-9.94%	-14.62%	-23.34%	-2.47%
ROE %	0.00%	0.00%	1.56%	1.16%	0.80%	-4.78%	-0.68%	-1.41%	-1.87%	-0.24%
ROCE %	21.05%	3.18%	1.83%	2.37%	1.89%	-2.42%	-0.93%	-0.81%	-0.75%	0.85%
	7.29%	0.87%	0.64%	0.95%	0.66%	-3.90%	-0.55%	-1.10%	-1.45%	-0.19%
EFFICIENCY
Debtor Days	0	58	81	90	86	240	110	96	184	164
Inventory Days	0	123	123	130	137	363	227	172	196	139
Payable Days	0	149	172	204	164	262	199	148	317	262
	0	31	33	16	60	340	138	120	64	41
FINANCIAL HEALTH
Debt to Equity (x)	27.21x	-11.33x	0.13x	0.12x	0.12x	0.11x	0.12x	0.14x	0.13x	0.17x
Interest Coverage (x)	2.02x	2.12x	2.76x	2.72x	2.18x	-3.74x	-1.24x	-0.66x	-0.51x	0.56x
	4.33x	1.92x	1.45x	1.40x	1.23x	1.36x	1.39x	1.01x	0.95x	1.04x
GROWTH
Revenue Growth %	0.00%	6529.81%	5.09%	15.81%	5.69%	-65.51%	53.06%	31.29%	-18.68%	22.14%
Operating Profit Growth %	349.88%	0.00%	5.95%	14.45%	-8.42%	-94.45%	640.00%	-40.02%	16.57%	49.99%
Net Profit Growth %	279.23%	2623.60%	52.93%	51.09%	-31.23%	-687.07%	86.53%	-93.21%	-29.79%	87.08%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-29.79%	87.08%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.91x	0.85x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	60.25x	38.21x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.32	59.32	59.32	59.32	59.32	59.32	59.32	59.32	59.32
	8.05	8.18	8.75	9.49	9.94	8.07	7.66	7.45	6.86
	1.47	1.22	1.41	1.25	1.26	1.36	1.26	1.62	2.05
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.17	31.29	30.52	29.94	29.48	31.24	31.76	31.61	31.76

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-05

Shareholders meeting

2026-09-05 - Dishman Carbogen Amcis Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Dishman Carbogen Amcis Limited has informed the Exchange about Copy of Newspaper Publication for intimation regarding 19th AGM to be held through Video Conferencing or Other Audio Visual Means.

2026-08-31

Updates

2026-08-31 - Dishman Carbogen Amcis Limited has informed the Exchange regarding 'Intimation regarding date of 19th Annual General Meeting'.

2026-08-29

Cessation

2026-08-29 - Dishman Carbogen Amcis Limited has informed the Exchange regarding Cessation of Mr Deepak Ram Chandra Mittal as Other of the company w.e.f. August 27, 2026.

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Dishman Carbogen Amcis Limited has informed the Exchange about Transcript

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Dishman Carbogen Amcis Limited has informed the Exchange about Link of Recording

2026-08-17

Allotment of Securities

2026-08-17 - Dishman Carbogen Amcis Limited has informed the Exchange regarding allotment of 7500 securities pursuant to Non Convertible Securities at its meeting held on August 17, 2026

2026-08-17

Investor Presentation

2026-08-17 - Dishman Carbogen Amcis Limited has informed the Exchange about Investor Presentation

2026-08-14

Outcome of Board Meeting

2026-08-14 - Dishman Carbogen Amcis Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

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