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Dishman Carbogen Amcis Ltd.
(DCAL)
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Rating:56Neutral
Price Target:
₹156.00
▼(-38.86% 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
Diversified CDMO and specialty-chemical platform
The combination of process development, scale-up, commercial manufacturing, and specialty chemicals gives DCAL multiple revenue pathways. This breadth can support customer retention and improve resilience as individual molecules, projects, or end markets move through different demand cycles.
Negative Factors
Rising debt burden
Increasing debt reduces financial flexibility even when leverage remains manageable today. It can raise interest and refinancing exposure, while also limiting the capital available for plant investment, molecule development, or absorbing weaker profitability during an operating downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified CDMO and specialty-chemical platform
The combination of process development, scale-up, commercial manufacturing, and specialty chemicals gives DCAL multiple revenue pathways. This breadth can support customer retention and improve resilience as individual molecules, projects, or end markets move through different demand cycles.
Read all positive factors
Dishman Carbogen Amcis Ltd. (DCAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹23.70B
Dividend Yield0.11%
Average Volume (3M)15.04K
Price to Earnings (P/E)35.3
Beta (1Y)1.40
Revenue Growth-20.86%
EPS Growth-34.51%
CountryIN
Employees1,132
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)4.35
Shares Outstanding156,783,100
10 Day Avg. Volume12,258
30 Day Avg. Volume15,043
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
175.38
Negative
181.53
Negative
189.50
Negative
Market Momentum
-5.86
Positive
32.68
Neutral
9.84
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 164.78, above the 50-day MA of 175.38, and above the 200-day MA of 189.50, indicating a bearish trend. The MACD of -5.86 indicates Positive momentum. The RSI at 32.68 is Neutral, neither overbought nor oversold. The STOCH value of 9.84 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹141.72B | 52.16 | ― | 0.55% | -6.72% | -22.67% | |
73 Outperform | ₹100.48B | 39.72 | ― | 0.22% | -27.51% | -34.49% | |
56 Neutral | ₹23.70B | 35.30 | ― | 0.11% | -20.86% | -34.51% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹144.33B | 66.04 | ― | 0.34% | -3.41% | -56.45% | |
49 Neutral | ₹602.00B | 108.56 | ― | 0.14% | 9.83% | 5.07% | |
48 Neutral | ₹170.86B | -362.22 | ― | ― | 27.15% | 40.46% |
* General Sector Average
IN:DCAL
Dishman Carbogen Amcis Ltd.
153.35
-141.60
-48.01%
IN:BIOCON
Biocon Limited
368.60
20.97
6.03%
IN:BLUEJET
Blue Jet Healthcare Limited
538.50
-132.60
-19.76%
IN:CONCORDBIO
Concord Biotech Ltd.
1,367.55
-251.06
-15.51%
IN:SYNGENE
Syngene International Ltd.
363.10
-267.76
-42.44%
IN:ONESOURCE
OneSource Specialty Pharma Limited
1,536.50
-312.55
-16.90%
Dishman Carbogen Amcis Ltd. Corporate Events
Dishman Carbogen Amcis Adopts FY26 Standalone Accounts at Virtual AGM
Sep 30, 2026
Dishman Carbogen Amcis Ltd. held its 19th Annual General Meeting on September 30, 2026, via video conferencing and other audio-visual means, in compliance with Ministry of Corporate Affairs and SEBI guidelines for virtual shareholder meetings. Par...
Dishman Carbogen Amcis Announces Cessation of Vice President (Operation)
Aug 29, 2026
Dishman Carbogen Amcis Limited has announced a change in senior management, disclosing that Vice President (Operation) Mr. Deepak Ram Chandra Mittal has ceased to hold his position with effect from the close of business hours on August 27, 2026.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.