PFA Investor Presentaion

Dishman Carbogen Amcis reported strong revenue growth with FY26 net revenue at ₹29,319 mn (up 8.1% YoY) and Q4FY26 at ₹8,514 mn (up 18.9% YoY). EBITDA for FY26 improved to ₹5,656 mn with 19.3% margin (vs 17.3% in FY25), though Q4FY26 margin declined to 19.1% from 21.3% in Q4FY25. The CDMO segment contributed 83% of revenue with FY26 revenue of ₹24,413 mn (up 6.5% YoY), while Marketable Molecules grew 17.2% YoY to ₹4,906 mn. CDMO margins declined 520 bps in Q4 due to lower late-phase III development revenue, but MM segment margins expanded significantly from 9.4% to 18.8% YoY driven by Vitamin D analogues. Net debt reduced to CHF 146.80 mn from CHF 157.6 mn. The company has 10 molecules in late Phase III, primarily in oncology, and operates 23 manufacturing facilities across 6 countries.