Dishman Carbogen Amcis Ltd. (DCAL) AI Stock Analysis

• Market Cap: ₹34.33B
• Dividend Yield: N/A
• Average Volume (3M): 13.55K
• Price to Earnings (P/E): 24.3
• Beta (1Y): 1.51
• Revenue Growth: 5.38%
• EPS Growth: N/A
• Country: US
• Employees: 1,132
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 4.16
• Shares Outstanding: 156,783,100
• 10 Day Avg. Volume: 9,637
• 30 Day Avg. Volume: 13,551
• PEG Ratio: -10.28
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 1.25
• P/FCF Ratio: 21.46
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹233.00 ▼(-8.68% Downside)

The overall stock score of 63 reflects strong financial performance with solid revenue growth and operational efficiency, despite low net profitability. Technical analysis indicates a bearish trend, but potential for reversal exists. The valuation is relatively high, which may deter value investors. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Revenue Growth

Consistent revenue growth indicates a strong demand for DCAL's services and an expanding market presence, which is crucial for long-term business sustainability.

Cash Flow Generation

Robust cash flow generation enhances financial flexibility, allowing DCAL to invest in growth opportunities and manage debt effectively.

Gross Profit Margin

A high gross profit margin reflects strong operational efficiency, enabling DCAL to maintain profitability even in competitive markets.

Negative Factors

Net Profitability

Low net profitability suggests difficulties in translating revenue growth into bottom-line gains, potentially limiting reinvestment and shareholder returns.

Return on Equity

A low return on equity indicates that DCAL may not be effectively using shareholder capital to generate profits, which could deter potential investors.

Free Cash Flow Conversion

Inefficient conversion of profits into free cash flow may restrict DCAL's ability to fund new projects and manage financial obligations, impacting growth.

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

DCAL generates revenue primarily through its contract manufacturing and development services. The company earns money by engaging in contracts with pharmaceutical and biotech clients for the production of APIs and intermediates, as well as offering research and development support. Key revenue streams include fees for manufacturing services, project management, and consultancy related to drug development. DCAL also benefits from partnerships with major pharmaceutical firms, enhancing its market reach and credibility. Additionally, its ability to innovate and adapt to client needs contributes to client retention and repeat business, further solidifying its financial performance.

Dishman Carbogen Amcis Ltd. Financial Statement Overview

Summary

Dishman Carbogen Amcis Ltd. shows strong revenue growth and efficient operational performance, with a healthy gross profit margin of 81.49%. However, the net profit margin is low at 0.12%, 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	28.96B	27.11B	26.16B	23.15B	21.41B	19.12B
Gross Profit	23.62B	22.10B	18.45B	17.81B	16.82B	14.28B
EBITDA	6.10B	4.73B	3.07B	3.08B	3.43B	2.86B
Net Income	1.04B	32.40M	-1.53B	-298.00M	180.10M	-1.65B
Balance Sheet
Total Assets	0.00	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	4.67B	4.31B
Total Debt	0.00	23.89B	23.13B	22.09B	18.30B	15.89B
Total Liabilities	-58.32B	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: Negative
• Last Price: 255.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

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 247.56, above the 50-day MA of 242.22, and above the 200-day MA of 251.89, indicating a bearish trend. The MACD of -6.32 indicates Positive momentum. The RSI at 27.70 is Positive, neither overbought nor oversold. The STOCH value of 3.90 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIOCON	63 Neutral	₹561.10B	93.85	―	0.12%	10.62%	-66.88%
DCAL	63 Neutral	₹34.33B	24.32	―	―	5.38%	―
JUBLINGREA	63 Neutral	₹104.77B	36.03	―	0.74%	3.80%	64.94%
CONCORDBIO	61 Neutral	₹132.23B	40.82	―	0.80%	3.63%	-1.21%
SYNGENE	61 Neutral	₹238.60B	67.50	―	0.19%	8.57%	-2.93%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PANACEABIO	51 Neutral	₹22.58B	-308.12	―	―	9.78%	50.78%

Dishman Carbogen Amcis Ltd. Corporate Events

Dishman Carbogen Amcis Schedules Analyst and Investor Meet at Bavla Plant

Dishman Carbogen Amcis Limited has announced that it will host an in-person analyst and investor meeting on 24 December 2025, featuring a plant visit and management interaction at its Bavla, Ahmedabad facility. The company emphasized that discussions during the visit will be confined to information already in the public domain, with no unpublished price-sensitive information to be shared, underscoring its effort to maintain regulatory compliance while enhancing transparency and engagement with the investor community.

Dishman Carbogen Amcis Ltd. Releases Q2 Financial Results and Compliance Updates

Dishman Carbogen Amcis Ltd. announced the approval of its un-audited financial results for the second quarter and half-year ending September 30, 2025, during a board meeting held on November 4, 2025. The results, prepared in accordance with SEBI regulations, were accompanied by a limited review report from the company’s statutory auditors, indicating a transparent disclosure of financial performance. Additionally, a certificate on security cover for non-convertible debentures was also provided, reflecting the company’s commitment to regulatory compliance and financial transparency.

Dishman Carbogen Amcis Schedules Investor Conference Call to Discuss Financial Results

Dishman Carbogen Amcis Limited has announced a conference call with investors scheduled for November 5, 2025, to discuss the company’s financial results and performance for the quarter and half-year ended September 30, 2025. This announcement is part of the company’s ongoing efforts to maintain transparency with stakeholders and provide insights into its financial health and strategic direction.