Dishman Carbogen Amcis closes FY26 with stronger margins as CDMO momentum holds

Consolidated income from operations (net) was INR 2,931.90 crore in FY26, compared with INR 2,711.50 crore in FY25.

The company reports two operating segments: CDMO and Marketable Molecules. In FY26, CDMO revenue was INR 2,441.25 crore (about 83%) and Marketable Molecules was INR 490.65 crore (about 17%).

Consolidated EBITDA margin increased to 19.3% in FY26 from 17.3% in FY25 (as shown in the investor presentation).

Management stated the CDMO margin was lower because Q4 FY25 had higher late Phase III development revenue, which carries higher margins. Q4 FY26 also had cost impacts including provisions (as explained on the call).

Management stated capex addition during FY26 was CHF 22.4 million.

Management stated net debt excluding lease liabilities was CHF 146.8 million as of March 31, 2026, down from CHF 157.6 million as of March 31, 2025.

The Board approved a proposal to raise an ECB up to CHF 200 million from promoter group company Aamanya AG (subject to approvals), primarily to refinance existing rupee debt at more favourable terms and reduce interest cost, and for working capital/capex as permitted.