Dishman Carbogen Amcis Ltd. (IN:DCAL)
:DCAL
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Dishman Carbogen Amcis Ltd.
(DCAL)
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Rating:58Neutral
Price Target:
₹187.00
▼(-26.71% Downside)
Action:Reiterated
Date:05/21/26
The score is driven by improving but still volatile fundamentals (uneven profitability/FCF and rising debt) and only moderate technical strength (positive momentum but still below the 200-day). Valuation is a notable drag due to a negative P/E and no dividend yield data.
Positive Factors
CDMO / CRAMS Business Model
DCAL’s core CDMO/CRAMS model serves pharma development and commercial-scale production, creating durable demand from regulated, high-barrier customers. Long-term supply and development relationships and technical know-how support revenue visibility and sticky cash flows over multiple years.
Negative Factors
Rising Total Debt
An upward debt trend increases interest expense and refinancing risk, constraining strategic flexibility if cash generation falters. With uneven free cash flow and volatile margins, rising debt can pressure liquidity and raise the cost of capital over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
CDMO / CRAMS Business Model
DCAL’s core CDMO/CRAMS model serves pharma development and commercial-scale production, creating durable demand from regulated, high-barrier customers. Long-term supply and development relationships and technical know-how support revenue visibility and sticky cash flows over multiple years.
Read all positive factors
Dishman Carbogen Amcis Ltd. (DCAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹28.23B
Dividend YieldN/A
Average Volume (3M)13.55K
Price to Earnings (P/E)28.3
Beta (1Y)1.26
Revenue Growth8.13%
EPS Growth2910.16%
CountryIN
Employees1,132
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)6.65
Shares Outstanding156,783,100
10 Day Avg. Volume9,637
30 Day Avg. Volume13,551
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.30
Price to Sales (P/S)0.69
P/FCF Ratio26.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dishman Carbogen Amcis Ltd. Business Overview & Revenue Model
Company Description
Established in 1983 and headquartered in Ahmedabad, India, Dishman Carbogen Amcis Limited provides specialized contract research and manufacturing solutions to the worldwide pharmaceutical sector. The company operates through two main business seg...
How the Company Makes Money
DCAL primarily makes money by providing (1) contract development and manufacturing services to pharmaceutical and life-science customers and (2) selling specialty chemicals and related products. In the contract services model, customers pay DCAL f...
Dishman Carbogen Amcis Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
70
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.96B | 29.32B | 27.11B | 26.16B | 23.15B | 21.41B |
| Gross Profit | 23.62B | 7.37B | 22.10B | 18.45B | 17.81B | 16.82B |
| EBITDA | 6.10B | 5.62B | 4.73B | 3.07B | 3.08B | 3.43B |
| Net Income | 1.04B | 974.50M | 32.40M | -1.53B | -298.00M | 180.10M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 119.23B | 99.99B | 95.81B | 94.53B | 86.37B |
| Cash, Cash Equivalents and Short-Term Investments | 5.32B | 10.07B | 5.32B | 4.31B | 3.09B | 4.67B |
| Total Debt | 0.00 | 30.76B | 23.89B | 23.13B | 22.09B | 18.30B |
| Total Liabilities | -58.32B | 52.46B | 41.68B | 39.54B | 36.44B | 30.89B |
| Stockholders Equity | 58.32B | 66.77B | 58.32B | 56.27B | 58.10B | 55.49B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 780.50M | 1.58B | 807.20M | -3.54B | -1.09B |
| Operating Cash Flow | 0.00 | 3.45B | 3.75B | 3.84B | 2.66B | 3.55B |
| Investing Cash Flow | 0.00 | -2.55B | -1.92B | -2.30B | -4.94B | -6.19B |
| Financing Cash Flow | 0.00 | 3.57B | -1.02B | -221.50M | 2.50B | 1.30B |
Dishman Carbogen Amcis Ltd. Technical Analysis
Negative
255.15
Price Trends
180.96
Negative
183.92
Negative
223.87
Negative
Market Momentum
-1.41
Positive
41.96
Neutral
22.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DCAL, the sentiment is Negative. The current price of 255.15 is above the 20-day moving average (MA) of 192.27, above the 50-day MA of 180.96, and above the 200-day MA of 223.87, indicating a bearish trend. The MACD of -1.41 indicates Positive momentum. The RSI at 41.96 is Neutral, neither overbought nor oversold. The STOCH value of 22.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DCAL.
Dishman Carbogen Amcis Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹144.48B | 55.41 | ― | 0.80% | -12.10% | -29.87% | |
58 Neutral | ₹28.23B | 28.27 | ― | ― | 8.13% | 2910.16% | |
58 Neutral | ₹33.15B | -659.62 | ― | ― | 14.43% | 35.48% | |
56 Neutral | ₹674.05B | 172.12 | ― | 0.12% | 10.91% | -67.33% | |
56 Neutral | ₹101.62B | 36.96 | ― | 0.74% | 5.04% | 11.10% | |
56 Neutral | ₹182.74B | 57.50 | ― | 0.19% | 2.64% | -36.19% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IN:DCAL
Dishman Carbogen Amcis Ltd.
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-84.65
-32.49%
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Dishman Carbogen Amcis Ltd. Corporate Events
Dishman Carbogen Amcis Wins Waivers on Key NCD Financial Covenants
Apr 2, 2026
Dishman Carbogen Amcis Ltd. disclosed that its debenture trustee, Axis Trustee Services Ltd., has consented to amend certain financial covenants for the financial year ended March 31, 2026, tied to a Rs 50 crore tranche of non-convertible debentur...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.