Dishman Carbo Amcis Ltd
NSE: DCAL · Pharmaceuticals · sector
₹138.84NSE close 2026-10-26
Key numbers
Market cap₹2,177 cr
Price₹138.84
52w high / low₹303 / ₹128
P/E134.8xSector median 27.9x
P/B0.3xSector median 2.9x
Book value₹425.8
Dividend yield–Sector median 0.48%
ROE0.3%Sector median 11.7%
ROCE1.9%Sector median 12.3%
OPM16.6%Sector median 14.0%
Debt / equity0.42xSector median 0.16x
EV/EBITDA8.2xSector median 18.6x
Interest cover1.1x
Current ratio1.23x
Sales growth 3y+6.7%Sector median +9.6%
Profit growth 3y–Sector median +13.3%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,007 cr vs borrowings ₹2,775 cr (FY26): borrowings are higher by ₹1,768 cr.
- Borrowings rose in each of the last 3 years (₹1,825 cr → ₹2,775 cr).
- Operating profit covered interest 1.1x in the last 12 months.
- 8.39% of the promoters' shares are pledged (5.0% of all shares).
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 305% of net profit in the last 12 months.
- Debtor days went from 64 (FY24) to 84 (FY26).
- No dividend in the last 5 financial years.
- Price ₹138.84 on 2026-10-26: -54.2% from the 52-week high, +8.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹295.30 · low ₹138.84
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 789 | 682 | 716 | 708 | 653 | 720 | 851 | 678 |
| EBITDA | 144 | 142 | 141 | 138 | 149 | 113 | 162 | 58 |
| OPM % | 18.3% | 20.8% | 19.7% | 19.5% | 22.8% | 15.7% | 19.0% | 8.6% |
| Other income | 7 | 6 | 8 | 25 | 8 | 7 | 16 | 18 |
| Net profit | 33 | 5 | 43 | 23 | 65 | -13 | 22 | -58 |
| EPS (₹) | 2.11 | 0.30 | 2.75 | 1.49 | 4.16 | -0.83 | 1.39 | -3.69 |
| Revenue YoY | -17.3% | +5.5% | +18.9% | -4.3% | ||||
| Profit YoY | +97.2% | -380.1% | -49.5% | -347.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,141 | 2,413 | 2,616 | 2,712 | 2,932 | 2,901 |
| EBITDA | 317 | 284 | 280 | 451 | 562 | 482 |
| Net profit | 18 | -30 | -153 | 3 | 97 | 16 |
| EPS (₹) | 1.15 | -1.90 | -9.79 | 0.21 | 6.22 | 1.03 |
| Revenue growth | +12.7% | +8.4% | +3.7% | +8.1% | +0.2% | |
| Profit growth | -265.5% | – | – | +2,907.7% | -84.5% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +6.7% | +8.9% | +0.2% |
| Net profit | – | – | -84.5% |
| EPS | – | – | – |
| Share price | – | -12.8% (2y) | -50.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 5,810 | 5,628 | 5,832 | 6,677 |
| Borrowings | – | 1,825 | 1,964 | 2,084 | 2,775 |
| Cash & equivalents | – | 366 | 437 | 532 | 1,007 |
| Total assets | – | 9,454 | 9,581 | 9,999 | 11,923 |
| Fixed assets | – | 1,961 | 2,459 | 2,684 | 2,942 |
| Capital work in progress | – | 996 | 501 | 252 | 275 |
| Investments | – | 72 | 79 | 72 | 75 |
| Receivables | – | 590 | 461 | 665 | 673 |
| Inventory | – | 804 | 883 | 900 | 1,019 |
| Payables | – | 220 | 244 | 231 | 211 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 355 | 220 | 384 | 375 | 491 |
| Cash from investing | -619 | -448 | -230 | -192 | -245 |
| Cash from financing | 130 | 250 | -22 | -102 | 201 |
| Capex | 464 | 574 | 303 | 217 | 266 |
| Free cash flow | -109 | -354 | 81 | 158 | 225 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -0.5% | -2.7% | 0.1% | 1.5% |
| ROCE % | – | 0.4% | 0.0% | 2.3% | 3.0% |
| Debtor days | – | 89 | 64 | 90 | 84 |
| Inventory days | – | 574 | 540 | 655 | 910 |
| Payable days | – | 157 | 149 | 168 | 189 |
| Cash conversion cycle (days) | – | 506 | 455 | 577 | 805 |
| Working capital days | – | 18 | -87 | 37 | 65 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 59.32% |
| FIIs | 6.97% |
| DIIs | 1.66% |
| of which Mutual funds | 1.41% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 32.06% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 59.32% | 59.32% | 59.32% | 59.32% | 59.32% | 59.32% | 59.32% | 59.32% |
| Promoter group | % |
|---|---|
| Adimans Technologies LLP | 59.32% |
| Deohooti Janmejay Vyas | 0.00% |
| Aditi Janmejay Vyas | 0.00% |
| Arpit Janmejay Vyas | 0.00% |
| Mansi Janmejay Vyas | 0.00% |
| Saloni A. Vyas | 0.00% |
| Janmejay Rajnikant Vyas - HUF (Late Janmejay R. Vyas - Karta) | 0.00% |
| Ms. Aamanya Arpit Vyas | 0.00% |
| Ms. Anika Arpit Vyas | 0.00% |
| Azafran Innovacion Ltd | 0.00% |
| Dishman Biotech Ltd | 0.00% |
| Dishman Infrastructure Ltd | 0.00% |
| Leon Hospitality Pvt Ltd | 0.00% |
| B R Laboratories Limited | 0.00% |
| Aham Brahmasmi Entertainment Pvt Ltd | 0.00% |
| Public holders above 1% | % |
|---|---|
| Mukul Mahavir Agrawal | 5.50% |
| Massachusetts Institute Of Technology | 2.28% |
| Hbm Healthcare Investments (Cayman) Ltd | 2.19% |
| Hsbc Mutual Fund - Hsbc Flexi Cap Fund | 1.41% |
| Tejas Trivedi | 1.00% |
49,048 shareholders. Pledged: 8.39% of promoter shares.
Peers in Pharmaceuticals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | ₹4,17,478 cr | 34.5x | 5.0x | 15.5% | 18.7% | 28.6% | +10.0% | 0.94% |
| DIVISLAB | ₹2,39,825 cr | 82.1x | 14.3x | 18.4% | 23.0% | 34.7% | +10.8% | 0.34% |
| TORNTPHARM | ₹1,53,999 cr | 72.7x | 18.4x | 27.3% | 15.1% | 32.3% | +13.3% | 0.84% |
| ZYDUSLIFE | ₹1,15,808 cr | 25.9x | 4.3x | 17.7% | 16.8% | 27.2% | +16.4% | 0.95% |
| LAURUSLABS | ₹1,11,232 cr | 101.6x | 21.0x | 22.4% | 20.8% | 28.0% | +4.1% | 0.08% |
| CIPLA | ₹1,09,464 cr | 32.5x | 3.2x | 10.3% | 13.2% | 17.7% | +7.4% | 1.18% |
| DRREDDY | ₹1,09,460 cr | 33.9x | 2.9x | 9.0% | 10.1% | 15.5% | +11.0% | 0.61% |
| MANKIND | ₹95,486 cr | 46.7x | 5.9x | 13.4% | 13.8% | 25.1% | +17.7% | 0.04% |
| AUROPHARMA | ₹91,489 cr | 24.9x | 2.4x | 10.5% | 12.8% | 20.0% | +10.6% | 0.26% |
| DCAL | ₹2,177 cr | 134.8x | 0.3x | 0.3% | 1.9% | 16.6% | +6.7% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2019-09-12 | Dividend | Dividend - Rs 0.20 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing of bulk Drug & API: We are a globally reputed Contract Development and Manufacturing Organisation (“CDMO”) and engaged in Development and Manufacturing of Bulk Drugs, APIs, Speciality Chemicals, Vitamins & Analogues
| Sector | Healthcare |
| Industry | Pharmaceuticals |
| Sub-industry | Pharmaceuticals |
| Symbol | DCAL |
| BSE code | 540701 |
| ISIN | INE385W01011 |
| Face value | ₹2.0 |
| Incorporated | 2007-07-17 |
| Website | www.imdcal.com |
| Plants (India / abroad) | 2 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.