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Dishman Carbogen Amcis Ltd.
(DCAL)
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Rating:56Neutral
Price Target:
₹181.00
▼(-29.06% Downside)
Action:Reiterated
Date:08/18/26
The score is primarily supported by improving financial performance (revenue growth and latest-year earnings rebound with positive operating cash flow). It is held back by weak technicals (trading below key moving averages with bearish RSI) and a relatively high P/E without a stated dividend yield, which reduces valuation support.
Positive Factors
Contract manufacturing platform
The CDMO model spans process development, scale-up, and commercial manufacturing, creating opportunities for customers to progress into repeat supply relationships and supporting durable life-sciences demand.
Negative Factors
Volatile profitability
Repeated swings between losses and profits make earnings quality less predictable and complicate planning, indicating that utilization, product mix, costs, or execution may continue to affect sustainable margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract manufacturing platform
The CDMO model spans process development, scale-up, and commercial manufacturing, creating opportunities for customers to progress into repeat supply relationships and supporting durable life-sciences demand.
Read all positive factors
Dishman Carbogen Amcis Ltd. (DCAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹27.46B
Dividend YieldN/A
Average Volume (3M)13.55K
Price to Earnings (P/E)40.2
Beta (1Y)1.29
Revenue Growth-20.86%
EPS Growth-34.46%
CountryIN
Employees1,132
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)4.35
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 makes money primarily by supplying custom-manufactured molecules and associated development/manufacturing services to customers in the pharmaceutical and life-sciences value chain, and by selling specialty chemicals.
1) Contract development ...
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 | 22.92B | 29.32B | 27.11B | 26.16B | 23.15B | 21.41B |
| Gross Profit | 5.69B | 7.37B | 22.10B | 18.45B | 17.81B | 16.82B |
| EBITDA | 4.44B | 5.62B | 4.73B | 3.07B | 3.08B | 3.43B |
| Net Income | 682.52M | 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 | 10.07B | 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 | -66.77B | 52.46B | 41.68B | 39.54B | 36.44B | 30.89B |
| Stockholders Equity | 66.77B | 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
184.50
Negative
183.16
Negative
198.41
Negative
Market Momentum
-3.79
Positive
43.06
Neutral
47.87
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 182.77, above the 50-day MA of 184.50, and above the 200-day MA of 198.41, indicating a bearish trend. The MACD of -3.79 indicates Positive momentum. The RSI at 43.06 is Neutral, neither overbought nor oversold. The STOCH value of 47.87 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹155.07B | 56.44 | ― | 0.61% | -6.72% | -22.67% | |
74 Outperform | ₹109.13B | 42.63 | ― | 0.22% | -27.51% | -34.49% | |
56 Neutral | ₹27.46B | 40.18 | ― | ― | -20.86% | -34.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹162.84B | 73.35 | ― | 0.31% | -3.41% | -56.45% | |
49 Neutral | ₹669.81B | 120.91 | ― | 0.12% | 9.83% | 5.07% | |
48 Neutral | ₹175.79B | -361.37 | ― | ― | 27.15% | 40.45% |
* General Sector Average
IN:DCAL
Dishman Carbogen Amcis Ltd.
178.55
-84.35
-32.08%
IN:BIOCON
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IN:BLUEJET
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577.45
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IN:CONCORDBIO
Concord Biotech Ltd.
1,449.80
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IN:SYNGENE
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400.90
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IN:ONESOURCE
OneSource Specialty Pharma Limited
1,514.80
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-19.54%
Dishman Carbogen Amcis Ltd. Corporate Events
Dishman Carbogen Amcis Reports EGM Voting Results to Stock Exchanges
Jun 20, 2026
Dishman Carbogen Amcis Ltd. has reported the voting results of its Extra-Ordinary General Meeting held on June 19, 2026, which was conducted via video conferencing and lasted from 3:00 p.m. to 3:25 p.m. The meeting’s resolutions, voted on th...
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.