Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — Q4 FY26 Earnings Presentation
27 slides from Dishman Carbogen Amcis's earnings presentation, May 20, 2026
Slide 1: Exchange filing cover letter
20th May, 2026 To, To, The General Manager The Manager, Department of Corporate Services Listing Department, BSE Ltd. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, “Exchange Plaza”, C-1, Block G, Dalal Street, Bandra-Kurla Complex, Mumbai – 400 001. Bandra (E), Mumbai – 400 051. R
Slide 2: Investor Presentation Q4FY26 & FY26
Investor Presentation Q4FY26 & FY26 Ye ar e nde d March 31, 2026
Slide 3: Safe Harbor Statement
This presentation and the following discussion may contain “forward looking statements” by Dishman Carbogen Amcis Limited (‘Dishman’ or the ‘Company’) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, financial
Slide 4: Dishman in a Nutshell
Solving Complex Problems for 23 32 4 250+ Clients Multi-Purpose MANUFACTURING FACILITIES Globally RESEARCH & DEVELOPMENT and HIPO LABS Successful IN-ORGANIC GROWTH TRANSACTIONS DISHMAN IN 4 decades of Long-Standing Track Record in Global Health Authorities Approved & Recognized by CHF 102 M NEW PROD
Slide 5: Historical Performance at a Glance
Revenue from Operations (₹ mn) EBITDA (₹ mn) and EBITDA % EBITDA EBITDA % 19.3% 17.3% 14.3% 15.5% 13.8% 11.0% 19,120 21,407 24,129 26,158 27,115 29,319 HISTORICAL 2,743 3,314 3,322 2,865 4,690 5,656 Strong basket of 10 molecules in Late Phase III development. PERFORMANCE FY21 FY22 FY23 FY24 FY25 FY
Slide 6: Agenda
AGENDA 01 02 03 Quarter & Full Company Industry Year Highlights Overview Overview
Slide 7: Quarter & Full Year Highlights
01 Section Divider 01 02 03 Quarter & Company Industry Full Year Overview Overview Highlights
Slide 8: Q4FY26 Result Highlights
NET REVENUE (₹ mn) EBITDA (₹ mn) & EBITDA MARGIN (%) 21.3% 22 . 0% 19.1% 21 . 0% 20 . 0% 19 . 0% 18 . 0% 17 . 0% 16 . 0% 15 . 0% 7,163 8,514 1,527 1,630 14 . 0% 13 . 0% 12 . 0% Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY26 RESULT SEGMENT WISE REVENUE BREAKUP (₹ mn) HIGHLIGHTS 1,605 1,469 5,694 6,909 Q4FY25 Q4F
Slide 9: FY26 Result Highlights
NET REVENUE (₹ mn) EBITDA (₹ mn) & EBITDA MARGIN (%) 19.3% 19 . 5% 19 . 0% 18 . 5% 17.3% 18 . 0% 17 . 5% 4,689 5,656 17 . 0% 27,115 29,319 16 . 5% 16 . 0% FY25 FY26 FY25 FY26 FY26 RESULT Segment Wise Revenue Breakup (₹ mn) HIGHLIGHTS 4,185 4,906 22,930 24,413 FY25 FY26 CDMO Marketable Molecules 8
Slide 10: Consolidated P&L Statement
Particulars (₹ mn) Q4 FY26 Q4 FY25 FY26 FY25 Income from Operations (Net) 8,514.0 7,163.4 29,319.0 27,115.0 COGS 1,349.1 1,459.1 4,087.9 5,016.5 Employee Expenses 4,062.1 3,249.4 14,469.3 12,935.7 Other Expenses 1,473.3 928.0 5,105.5 4,473.4 EBITDA 1,629.5 1,526.9 5,656.3 4,689.4 EBIDTA Margin % 19.
Slide 11: Consolidated Balance Sheet
Particulars (₹ mn) Mar-26 Mar-25 Particulars (₹ mn) Mar-26 Mar-25 Equity Share Capital 313.6 313.6 Property, plant and equipment 29,419.3 26,838.6 Capital Work in Progress 2,750.0 2,516.9 Other Equity 66,455.4 58,001.6 Right to use Lease Assets 2,262.9 2,355.3 Total - Shareholder Funds 66,769.0 58,3
Slide 12: Revenue Breakup Analysis & Margin Breakup Analysis
Revenue (₹ mn) Q4 FY26 Q4 FY25 YoY % FY26 FY25 YoY % CDMO 6,908.7 5,694.4 21.3% 24,412.5 22,930.0 6.5% Marketable Molecules 1,605.3 1,469.0 9.3% 4,906.5 4,185.0 17.2% Total Revenue 8,514.0 7,163.4 18.9% 29,319.0 27,115.0 8.1% Total Operating Revenue – Q4 FY26 Total Operating Revenue – FY26 REVENUE B
Slide 13: Q4FY26 & FY26 Result Highlights
➢ Net Revenue at Rs.8,514 mn in Q4FY26 up by 18.9% as compared to Rs. 7,163 mn in Q4FY25 mainly due to higher revenue from CDMO and MM segment. ➢ Net Revenue at Rs.29,319 mn in FY26 up by 8.1% as compared to Rs. 27,115 mn in FY25 mainly due to higher revenue contribution from both the above segments
Slide 14: Company Overview
02 Section Divider 02 01 03 Company Quarter Industry Overview Highlights Overview
Slide 15: About Us
Established in 1983, Dishman Carbogen Amcis Limited is a fully integrated CDMO (Contract Development and Manufacturing Organisation) company with strong capabilities right from process research & development to late stage clinical and commercial manufacturing and supply of API to innovator pharmaceu
Slide 16: Key Strengths
Global integrated CDMO End-to-end capabilities with bi-continental under one roof — manufacturing footprint spanning pre-clinical KEY for complex, high-value molecules. KEY development, process optimization, scale-up, STRENGTHS STRENGTHS and global commercial manufacturing. Strategic co-investment S
Slide 17: ADC & Bioconjugation Integrated Business at CGAM / DCAL
BIO-CONJUGATION Services DL/BDS/DP GMP-manufacturing Process Transfer/development/validation ICH Stability QC&A Transfer/development/validation End-to-end RA support ADC & Bioconjugation Integrated DL BDS DP Business at Drug Linker* Bulk Drug Substance Drug Product GMP-manufacture GMP-manu
Slide 18: ADC & Bioconjugation Integrated Business at CGAM / DCAL
ADC & Bioconjugation Integrated Client base is from small biotech up to the biggest pharma Business at 30% companies Successful success rate collaboration CGAM / DCAL so far agreements with start-up companies More alliances with potential Dozens of quotes partners under for multiple discussions diff
Slide 19: Manufacturing Facilities & Robust R&D Capabilities
Superior Chemistry Skills & Capabilities Facilities are approved by recognized health agencies: USFDA, MEB, SWISS MEDIC, ANSM, WHO, MFDS, PMDA, NMPA 32 dedicated R&D labs with multiple shift R&D operations, including HIPO labs 25 multi-purpose facilities at CARBOGEN AMCIS BV., Veenendaal, The CARB
Slide 20: One of the Preferred Global Outsourcing Partners
CLOSE PROXIMITY LARGE SCALE INTEGRATED ACROSS STRONG CHEMISTRY TO CLIENTS WITH MANUFACTURING THE VALUE CHAIN CAPABILITIES GLOBAL PRESENCE CAPACITIES ONE OF THE PREFERRED Integrated CDMO Player present along the entire value chain from building blocks to commercialization and product launch stage GLO
Slide 21: Integrated CDMO Player
From Pre-clinical Development To Global Commercial Launch – All Under One Roof Integrated CDMO Player – Strong Capabilities across Value Chain Drug substance & Drug product Pre-clinical Phase I Phase II Phase III Market Early Stage Late Stage Commercial Supply Process Research and API supply to Proc
Slide 22: Differentiated Capabilities – Proven History
Chromatography HiPo Drug Product / ADC & Continuous Flow (HPLC/SMB) Formulations Bioconjugates Chemistry Differentiated Capabilities – INR 2,220 Mn1 INR 9,267 Mn2 INR 935 Mn INR 5,274 Mn INR 697 Mn3 Proven History of Developing 2000 2003 2012 2014 2017 Complex Set up Center of Developed a novel
Slide 23: Industry Overview
03 Section Divider 03 01 02 Industry Quarter Company Overview Highlights Overview
Slide 24: Top 20 Therapy Areas (US$ bn) - 2029
Oncology & Obesity expected to lead growth 5-Yr CAGR 2024-2029 Oncology 441 11-14% Diabetes 259 6-9% Expected Immunology Cardiovascular 119 234 4-7% 0-3% Top 20 Therapy Areas (US$ bn) - 2029 CNS 109 6-9% Global Respiratory Other endocrine… 96 108 5-8% 5-8% Infectious diseases 80 Oncology continues
Slide 25: Specialty medicines share of spending
Specialty medicines will represent about 46% of global spending in 2029 and 56% of total spending in developed markets 54% 51% 45% 46% Specialty 42% 38% 36% 35% medicines 33% 31% 27% share of 24% 18% spending 11% 14% 8% 2014 2019 2024 2029 Pharmerging Other Developed Global 10 Developed Source: IQVI
Slide 26: Shareholding Pattern
NSE Ticker DCAL BSE Ticker 540701 Mar Share Price (₹)^ 129.97 2026 Market Cap (₹ Mn)^ 20,377 % Free Float^ 40.68% Shareholding Free float market cap (₹ Mn)^ 8,289 Pattern Shares outstanding^ 15,67,83,095 PROMOTER 59.32% 3M ADTV (Shares) 3,71,180 DII 1.63% FII 7.45% 3M ADTV (₹ Mn) 69 Others 31.60% In
Slide 27: Thank you
Thank you FOR FURTHER QUERIES Arpit Mundra | Krishna Patel Mr. Harshil Dalal Ernst & Young LLP Global CFO Email: arpit.mundra@in.ey.com Email: harshil.dalal@dishmangroup.com krishna.patel2@in.ey.com Dishman Carbogen Amcis Ltd Dishman Corporate House Iscon-Bopal Road, Ambli Ahmedabad – 380058 Gujarat
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