Dishman Carbogen Amcis Q3 FY26 Net Revenue Rs. 719.8 Crore, Up 5.5%
Dishman Carbogen Amcis reported Q3 FY26 net revenue of ₹719.8 crore, up 5.5% YoY. 9MFY26 net revenue reached ₹2,080.5 crore, up 4.3% YoY. Q3 FY26 EBITDA was ₹113.1 crore with a margin of 15.7%, down from 20.5% in Q3 FY25. 9MFY26 EBITDA was ₹402.7 crore, with margins improving to 19.4%.
The results show mixed performance with revenue growth but a decline in short-term margins. The deferred supplies and segment-specific performance provide context for investors to assess future performance.
While revenue saw a modest increase, the EBITDA margin declined in Q3 FY26 compared to the previous year, indicating some pressure on profitability. However, the 9MFY26 performance shows an improvement in both revenue and EBITDA margins.
Dishman Carbogen Amcis Limited (DCAL) announced its un-audited financial results for the third quarter and nine months ended 31st December, 2025.
For the third quarter of FY26, the company reported a net revenue of ₹7,198 million (₹719.8 crore), an increase of 5.5% compared to ₹6,823 million (₹682.3 crore) in the same quarter of the previous fiscal year. This growth was primarily driven by higher revenue from the CDMO segment. The EBITDA for the quarter stood at ₹1,131 million (₹113.1 crore), a decrease from ₹1,401 million (₹140.1 crore) in Q3 FY25, resulting in an EBITDA margin of 15.7% compared to 20.5% in Q3 FY25. The decrease in margins was attributed to lower contributions from late Phase III molecules in the CDMO segment and a higher composition of cholesterol revenue in the Marketable Molecules segment.
For the nine months ended 31st December, 2025 (9MFY26), the net revenue was ₹20,805 million (₹2,080.5 crore), a 4.3% increase from ₹19,952 million (₹1995.2 crore) in 9MFY25. This rise was mainly due to higher revenue contribution from Cholesterol and Vitamin D analogues. The EBITDA for 9MFY26 was ₹4,027 million (₹402.7 crore), a significant increase from ₹3,163 million (₹316.3 crore) in 9MFY25, with the EBITDA margin improving to 19.4% from 15.9% in the prior year. This improvement in margins was driven by higher revenue from late Phase III molecules in the CDMO segment and increased supplies of Vitamin D analogues in the Marketable Molecules segment, coupled with cost reduction measures.
Supplies amounting to approximately ₹20 crore were deferred from Q3 FY26 to Q4 FY26 due to late supplies of intermediates and the holiday period in Europe. The company's CDMO revenue for Q3 FY26 increased by 6.7% year-on-year, and for 9MFY26, it was marginally higher by 1.6% due to increased development revenue. The Marketable Molecules segment revenue decreased by 2.4% in Q3 FY26 compared to Q3 FY25, primarily due to lower Quats revenue, but increased by 21.5% in 9MFY26 due to higher Cholesterol and Vitamin D analogues supplies.
The press release was hosted on the company's website, www.imdcal.com, as per SEBI regulations.
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