Dishman Carbogen Amcis Ltd is a fully integrated Contract Research and Manufacturing Services (CRAMS) player with a significant global presence. The company is engaged in the manufacturing and supply of marketable molecules, including specialty chemicals, vitamins & chemicals, and disinfectants. Founded in 1983 and headquartered in Ahmedabad, India, DCAL offers end-to-end services in the research, development, and manufacturing of Active Pharmaceutical Ingredients (APIs). With state-of-the-art facilities strategically located across Europe, India, and China, DCAL collaborates closely with global pharmaceutical innovators to supply APIs. The firm boasts manufacturing and research facilities in India, Switzerland, France, Netherlands, the United Kingdom, and China.
The company operates through two primary business segments: Contract Research and Manufacturing Services (CRAMS) and Marketable Molecules. In the CRAMS segment, DCAL provides comprehensive support to pharmaceutical companies throughout various stages of drug development. This includes process research and development, late-stage clinical trials, and commercial manufacturing, along with the supply of APIs and intermediates.
The Marketable Molecules segment involves the manufacturing and supply of a diverse range of products. These include bulk drugs, active pharmaceutical ingredients, phase transfer catalysts, quaternary ammonium compounds, phosphoranes, wittig reagents, vitamin D products, fine chemicals, hand and body wash, sanitizers, antiseptics, vitamin D analogues, cholesterol, lanolin-related products, disinfectant formulations, and various other pharmaceutical and cosmetic-related products. The company also deals with generic and highly potent active pharmaceutical ingredients.
Dishman Carbogen Amcis Ltd holds a market capitalization of ₹3,840 crore as of May 22, 2025. According to Value Research's classification, it is categorized as a Small Cap company.
Dishman Carbogen Amcis Limited operates as a subsidiary of Adimans Technologies LLP, which is also the promoter of the company, holding 59.32% of the total equity. The leadership team includes Janmejay R Vyas as the Chairman and Arpit J Vyas as the Managing Director.
Dishman Carbogen Amcis demonstrated a remarkable financial turnaround in its Q4 FY25 performance. The company reported a consolidated net profit of ₹43.09 crore in Q4 March 2025, a significant improvement from a net loss of ₹69.92 crore in Q4 March 2024. This positive development led to an 11.70% surge in its stock price to ₹245.75.
Key Financial Metrics for Q4 FY25:
- Consolidated Net Sales: Rose 9.41% year-on-year to ₹716.34 crore in Q4 March 2025.
- Pre-tax Profit (before exceptional items): Stood at ₹39.45 crore in Q4 FY25, compared to a pre-tax loss of ₹46.11 crore in Q4 FY24.
- EBITDA: Surged 142% year-on-year to ₹152.2 crore, from ₹62.9 crore in the corresponding quarter last year.
- EBITDA Margin: More than doubled, rising to 21.3% from 9.6% in the previous year.
Full Year FY25 Performance:
- Net Profit: Reported a net profit of ₹3.24 crore for the year ended March 2025, a substantial recovery from a net loss of ₹153.45 crore in the year ended March 2024.
- Net Sales: Increased by 3.66% year-on-year to ₹2711.50 crore for the year ended March 2025.
- Pre-tax Profit (before exceptional items): Achieved ₹37.42 crore in FY25, against a pre-tax loss of ₹116.12 crore in FY24.
The company's consolidated net cash from operating activities stood at ₹375.23 crore in FY25, slightly lower than ₹379.43 crore in FY24. However, the recovery in profitability was strongly supported by effective cost optimization measures and improved business traction.
A significant operational achievement was the Naroda unit clearing its US FDA inspection in June 2025 with no observations. This success reinforces the company's strong regulatory compliance credentials, crucial for its operations in international markets.
Dishman Carbogen Amcis Limited was formerly incorporated as Carbogen Amcis (India) Limited on July 17, 2007. The company's name was officially changed to Dishman Carbogen Amcis Limited effective from March 27, 2017. The company had its Initial Public Offering (IPO) on September 21, 2017.
In a move to strengthen its corporate governance, shareholders recently approved the appointments of two independent directors for five-year terms commencing April 2025.
Dishman Carbogen Amcis is a key global outsourcing partner for the pharmaceutical industry, offering a comprehensive suite of development, scale-up, and manufacturing services. Its integrated service model is delivered from strategically located facilities in Europe, China, and India. The company's key subsidiaries include CARBOGEN AMCIS (Shanghai) Co. Ltd, Dishman Infrastructure Ltd., Dishman Carbogen Amcis (Singapore) Pte. Ltd., CARBOGEN AMCIS Holding AG, and Dishman Biotech Ltd.
The company's strategic focus on delivering comprehensive CRAMS services positions it favorably to capitalize on the increasing trend of pharmaceutical companies outsourcing their research and manufacturing activities to specialized providers. With its extensive global footprint and robust regulatory compliance across multiple jurisdictions, Dishman Carbogen Amcis is well-equipped to effectively serve both emerging and established pharmaceutical markets worldwide.
