Dishman Carbogen Amcis Ltd. (DCAL) AI Stock Analysis

• Market Cap: ₹43.98B
• Dividend Yield: N/A
• Average Volume (3M): 26.33K
• Price to Earnings (P/E): 42.2
• Beta (1Y): 1.43
• Revenue Growth: 19.85%
• EPS Growth: N/A
• Country: IN
• Employees: 1,132
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 1.49
• Shares Outstanding: 156,783,100
• 10 Day Avg. Volume: 57,844
• 30 Day Avg. Volume: 26,331
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹265.00
• Price Target Upside: -5.53% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 58 Neutral
• Price Target: ₹265.00 ▼(-5.53% Downside)

The overall stock score is primarily influenced by strong financial performance, with significant revenue growth and operational efficiency. However, the high P/E ratio suggests overvaluation, which negatively impacts the score. Technical indicators show a neutral trend, contributing to a moderate score.

Dishman Carbogen Amcis Ltd. Business Overview & Revenue Model

Company Description

Dishman Carbogen Amcis Limited provides contract research and manufacturing services to the pharmaceutical industry worldwide. The company operates through Contract Research and Manufacturing Services and Marketable Molecules segments. It also manufactures and supplies bulk drugs, intermediates, phase transfer catalysts, quaternary ammonium compounds, phosphoranes, wittig reagents, vitamin D products, fine chemicals, hand and body wash, sanitisers, antiseptics, and various pharmaceutical and cosmetic-related products, as well as generic and highly potent active pharmaceutical ingredients. The company was incorporated in 1983 and is headquartered in Ahmedabad, India. Dishman Carbogen Amcis Limited is a subsidiary of Adimans Technologies LLP.

How the Company Makes Money

Dishman Carbogen Amcis Ltd. makes money through its contract development and manufacturing services, where it partners with pharmaceutical and biotech companies to develop and produce APIs and intermediates. The company earns revenue by offering a range of services that include process research and development, custom synthesis, and commercial-scale manufacturing. Key revenue streams include long-term contracts with established pharmaceutical companies, as well as strategic partnerships that leverage DCAL's capabilities in niche and high-value segments of the pharmaceutical market. Additionally, DCAL benefits from its global presence, which allows it to tap into diverse markets and customer bases, further bolstering its earnings.

Dishman Carbogen Amcis Ltd. Financial Statement Overview

Summary

Dishman Carbogen Amcis Ltd. demonstrates strong revenue growth and efficient operational performance with a healthy gross profit margin. However, the net profit margin is low, indicating challenges in converting revenue into net income. The balance sheet is stable with moderate leverage, and cash flow generation is solid, though there is room for improvement in translating profits into free cash flow.

Income Statement

Dishman Carbogen Amcis Ltd. has shown strong revenue growth over the years, with the latest year reporting a 6.61% increase in revenue. Gross profit margin is healthy at 81.49%, indicating efficient cost management. However, the net profit margin remains low at 0.12%, reflecting challenges in converting revenue into net income despite improvements from negative margins in prior years. The EBIT and EBITDA margins demonstrate recovery from previous losses, signaling enhanced operational efficiency.

Balance Sheet

The balance sheet shows a solid equity base with an equity ratio of 58.31%, indicating a stable financial position. The debt-to-equity ratio stands at 0.41, reflecting manageable leverage levels. Return on equity is modest at 0.06%, suggesting limited profitability on shareholders' investment. Overall, the company maintains a sound financial structure with moderate leverage.

Cash Flow

The company reported positive free cash flow growth of 96.36%, indicating effective cash management. The operating cash flow to net income ratio of 115.79 suggests robust cash generation relative to net income. However, the free cash flow to net income ratio is lower at 49.05%, pointing to room for improvement in translating profits into free cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	27.11B	27.11B	25.44B	23.15B	21.41B	19.12B
Gross Profit	18.22B	22.10B	1.42B	17.81B	16.82B	14.28B
EBITDA	4.73B	4.73B	3.07B	3.08B	3.43B	2.86B
Net Income	32.40M	32.40M	-1.53B	-298.00M	180.10M	-1.65B
Balance Sheet
Total Assets	99.99B	99.99B	95.81B	94.53B	86.37B	83.66B
Cash, Cash Equivalents and Short-Term Investments	5.32B	5.32B	4.31B	3.09B	4.54B	4.51B
Total Debt	23.89B	23.89B	23.13B	22.09B	18.30B	15.89B
Total Liabilities	41.68B	41.68B	39.54B	36.44B	30.89B	26.67B
Stockholders Equity	58.32B	58.32B	56.27B	58.10B	55.49B	56.99B
Cash Flow
Free Cash Flow	0.00	1.58B	807.20M	-3.54B	-1.09B	1.47B
Operating Cash Flow	0.00	3.75B	3.84B	2.66B	3.55B	5.13B
Investing Cash Flow	0.00	-1.92B	-2.30B	-4.94B	-6.19B	-3.81B
Financing Cash Flow	0.00	-1.02B	-221.50M	2.50B	1.30B	-110.40M

Dishman Carbogen Amcis Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 280.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DCAL, the sentiment is Neutral. The current price of 280.5 is above the 20-day moving average (MA) of 280.04, above the 50-day MA of 265.62, and above the 200-day MA of 245.77, indicating a bullish trend. The MACD of 8.78 indicates Negative momentum. The RSI at 50.86 is Neutral, neither overbought nor oversold. The STOCH value of 48.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DCAL.

Dishman Carbogen Amcis Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SYNGENE	67 Neutral	₹245.73B	48.26	10.50%	0.21%	7.41%	2.88%
CONCORDBIO	67 Neutral	₹163.61B	45.95	20.50%	0.68%	14.49%	13.70%
BIOCON	60 Neutral	₹452.37B	105.77	4.68%	0.15%	6.80%	-75.66%
JUBLINGREA	59 Neutral	₹103.40B	36.90	8.58%	0.77%	2.60%	60.61%
DCAL	58 Neutral	₹43.98B	42.20	―	―	19.85%	―
PANACEABIO	47 Neutral	₹24.78B	215.84	-1.00%	―	11.80%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%