BSE: 540701 | NSE: DCAL | Pharmaceuticals & Drugs | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Dishman Carbogen Amcis Ltd is a below average quality company.
The key valuation ratios of Dishman Carbogen Amcis Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Dishman Carbogen Amcis Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0% | 0% | 4.6% | 4.7% | 5.8% | 3.9% | -0.3% | 0.8% | 0.4% | -0% | - |
| Value Creation Index ⓘ | NA | NA | -0.7 | -0.7 | -0.6 | -0.7 | -1.0 | -1.0 | -1.0 | -1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 0 | 0 | 1,714 | 1,695 | 2,059 | 2,044 | 1,912 | 2,141 | 2,413 | 2,616 | 2,619 |
| Sales YoY Gr. | - | NA | NA | -1.1% | 21.5% | -0.7% | -6.4% | 12% | 12.7% | 8.4% | - |
| Adj EPS ⓘ | 0 | 0 | 0 | 10.2 | 13.8 | 10.9 | -8.9 | 1.9 | 2.7 | -8.9 | -11.1 |
| YoY Gr. | - | NA | NA | NA | 35.2% | -21.2% | -181.9% | NA | 42.5% | -435.5% | - |
| BVPS (₹) ⓘ | 0 | 0 | 0 | 316.4 | 333.3 | 364.3 | 363.5 | 353.9 | 370.5 | 358.9 | 365.9 |
| Adj Net Profit ⓘ | 0 | 0 | 159 | 165 | 223 | 171 | -140 | 29.2 | 41.5 | -139 | -174 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 303 | 226 | 282 | 585 | 513 | 355 | 266 | 384 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 3.1 | 4.8 | 3.7 | 1.8 | 2.3 | 4 | 6.9 | 5.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 4.9% | 11% | 8.4% | ||||
| Adj EPS ⓘ | NA | -191.5% | NA | -435.5% | ||||
| BVPSⓘ | NA | 1.5% | -0.4% | -3.1% | ||||
| Share Price | - | 21% | 11.9% | 79.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0 | 0 | 3.3 | 3.3 | 4.3 | 3.1 | -2.5 | 0.5 | 0.7 | -2.4 | -3.1 |
| Op. Profit Mgn % ⓘ | 0 | 0 | 26.6 | 26.9 | 27.9 | 25.2 | 15.2 | 15.5 | 16 | 10.7 | 10.7 |
| Net Profit Mgn % ⓘ | 0 | 0 | 8.4 | 9.8 | 10.9 | 8.4 | -7.3 | 1.4 | 1.7 | -5.3 | -6.7 |
| Debt to Equity ⓘ | 0 | 0 | 238.6 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.2 |
| Working Cap Days ⓘ | 0 | 0 | 0 | 339 | 308 | 332 | 346 | 279 | 254 | 241 | 127 |
| Cash Conv. Cycle ⓘ | 0 | 0 | 0 | 139 | 127 | 142 | 155 | 141 | 156 | 157 | -19 |
Sales growth is growing at healthy rate in last 3 years 11.01%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at 3.63%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -2.5 | -11.1 |
| TTM Sales (₹ Cr.) | 395 | 2,619 |
| BVPS (₹.) ⓘ | 258 | 365.9 |
| Reserves (₹ Cr.) ⓘ | 4,032 | 5,705 |
| P/BV ⓘ | 1.07 | 0.75 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 132.75 / 307.80 |
| All Time Low / High (₹) | 46.45 / 396.55 |
| Market Cap (₹ Cr.) | 4,326 |
| Equity (₹ Cr.) | 31.4 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 44.3 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,714 | 1,695 | 2,059 | 2,044 | 1,912 | 2,141 | 2,413 | 2,616 |
| Operating Expenses ⓘ | 1,260 | 1,257 | 1,507 | 1,546 | 1,638 | 1,815 | 2,081 | 2,352 |
| Manufacturing Costs | 148 | 132 | 171 | 178 | 160 | 207 | 259 | 314 |
| Material Costs | 329 | 337 | 404 | 459 | 468 | 447 | 517 | 597 |
| Employee Cost | 596 | 625 | 715 | 762 | 873 | 981 | 1,030 | 1,208 |
| Other Costs ⓘ | 187 | 162 | 217 | 147 | 137 | 179 | 275 | 233 |
| Operating Profit ⓘ | 453 | 438 | 552 | 498 | 274 | 326 | 332 | 264 |
| Operating Profit Margin (%) | 26.5% | 25.8% | 26.8% | 24.3% | 14.3% | 15.2% | 13.8% | 10.1% |
| Other Income ⓘ | 26 | 53 | 54 | 44 | 39 | 49 | 28 | 51 |
| Interest ⓘ | 49 | 49 | 57 | 62 | 48 | 57 | 86 | 120 |
| Depreciation ⓘ | 214 | 211 | 240 | 283 | 308 | 308 | 281 | 311 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | -22 | -15 | -48 | -6 |
| Profit Before Tax ⓘ | 216 | 231 | 309 | 197 | -65 | -4 | -55 | -122 |
| Tax ⓘ | 71 | 76 | 98 | 39 | 100 | -22 | -25 | 31 |
| Profit After Tax | 145 | 155 | 210 | 159 | -165 | 18 | -30 | -153 |
| PAT Margin (%) | 8.5% | 9.1% | 10.2% | 7.8% | -8.6% | 0.8% | -1.2% | -5.9% |
| Adjusted EPS (₹) | 0.0 | 9.6 | 13.0 | 10.1 | -10.5 | 1.2 | -1.9 | -9.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 2% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 4 | 5,107 | 5,379 | 5,715 | 5,699 | 5,549 | 5,810 | 5,628 | ||
| Share Capital ⓘ | 0 | 32 | 32 | 31 | 31 | 31 | 31 | 31 | ||
| Reserves ⓘ | 4 | 5,075 | 5,347 | 5,684 | 5,667 | 5,518 | 5,778 | 5,596 | ||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Debt | 845 | 918 | 883 | 930 | 1,046 | 1,255 | 1,727 | 1,866 | ||
| Long Term Debt | 460 | 525 | 362 | 241 | 504 | 762 | 1,047 | 246 | ||
| Short Term Debt | 385 | 393 | 520 | 688 | 542 | 493 | 681 | 1,620 | ||
| Trade Payables | 86 | 186 | 195 | 284 | 169 | 193 | 220 | 244 | ||
| Others Liabilities ⓘ | 5,640 | 957 | 864 | 1,265 | 1,441 | 1,637 | 1,683 | 1,833 | ||
| Total Liabilities ⓘ | 6,574 | 7,169 | 7,321 | 8,193 | 8,356 | 8,634 | 9,439 | 9,571 | ||
Fixed Assets | ||||||||||
| Gross Block | 6,187 | 6,621 | 6,897 | 7,891 | 8,155 | 8,633 | 9,458 | 10,308 | ||
| Accumulated Depreciation | 1,340 | 1,560 | 1,805 | 2,218 | 2,462 | 2,865 | 3,275 | 3,588 | ||
| Net Fixed Assetsⓘ | 4,847 | 5,061 | 5,092 | 5,673 | 5,693 | 5,768 | 6,183 | 6,720 | ||
| CWIP ⓘ | 133 | 151 | 175 | 234 | 486 | 780 | 1,043 | 646 | ||
| Investmentsⓘ | 40 | 196 | 167 | 191 | 172 | 324 | 249 | 102 | ||
| Inventories | 427 | 485 | 549 | 581 | 516 | 645 | 804 | 883 | ||
| Trade Receivables | 286 | 444 | 445 | 577 | 421 | 473 | 590 | 461 | ||
| Cash Equivalents | 87 | 69 | 96 | 161 | 308 | 172 | 189 | 413 | ||
| Others Assetsⓘ | 755 | 764 | 796 | 776 | 760 | 472 | 381 | 345 | ||
| Total Assets ⓘ | 6,574 | 7,169 | 7,321 | 8,193 | 8,356 | 8,634 | 9,439 | 9,571 | ||
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 303 | 226 | 282 | 585 | 513 | 355 | 266 | 384 |
| PBT ⓘ | 216 | 231 | 309 | 197 | -65 | -4 | -55 | -122 |
| Adjustment ⓘ | 232 | 235 | 277 | 330 | 313 | 325 | 392 | 381 |
| Changes in Working Capital ⓘ | -29 | -206 | -174 | 132 | 316 | 90 | -38 | 144 |
| Tax Paid ⓘ | -116 | -34 | -130 | -74 | -51 | -56 | -34 | -19 |
| Cash Flow From Investing Activity ⓘ | -142 | -297 | -169 | -442 | -380 | -619 | -494 | -230 |
| Capex | -139 | -205 | -308 | -409 | -365 | -455 | -618 | -303 |
| Net Investments | 3 | -148 | 68 | -28 | 21 | -171 | 104 | 150 |
| Others ⓘ | -6 | 56 | 71 | -6 | -36 | 8 | 21 | -76 |
| Cash Flow From Financing Activityⓘ | -137 | 78 | -102 | -98 | -11 | 130 | 250 | -22 |
| Net Proceeds from Shares ⓘ | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -98 | 118 | -172 | -154 | 169 | 282 | 167 | 50 |
| Interest Paid ⓘ | -52 | -49 | -57 | -61 | -53 | -60 | -73 | -99 |
| Dividend Paid ⓘ | -19 | 0 | 0 | -3 | 0 | 0 | 0 | 0 |
| Others ⓘ | 33 | 8 | 127 | 121 | -127 | -92 | 156 | 26 |
| Net Cash Flow ⓘ | 23 | 7 | 11 | 46 | 122 | -133 | 22 | 132 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3654.02 | 6.05 | 4.01 | 2.86 | -2.89 | 0.32 | -0.52 | -2.68 | ||
| ROCE (%) | 4.6 | 4.67 | 5.79 | 3.93 | -0.26 | 0.76 | 0.43 | -0.03 | ||
| Asset Turnover Ratio | 0.26 | 0.25 | 0.28 | 0.26 | 0.23 | 0.25 | 0.27 | 0.28 | ||
| PAT to CFO Conversion(x) | 2.09 | 1.46 | 1.34 | 3.68 | N/A | 19.72 | N/A | N/A | Working Capital Days | |
| Receivable Days | 61 | 79 | 79 | 91 | 95 | 76 | 80 | 73 | ||
| Inventory Days | 91 | 98 | 92 | 101 | 105 | 99 | 110 | 118 | ||
| Payable Days | 95 | 147 | 172 | 190 | 177 | 148 | 146 | 142 | ||
Incorporated in 1983, Dishman Carbogen Amcis Limited (DCAL) started out as a manufacturer of quaternary ammonium and phosphate compounds. Having ventured into the CRAMS space in India, the company soon became one of the fastest growing companies. Today, the company is a leading global outsourcing partner for the pharmaceutical industry, offering a portfolio of development, scale-up, and manufacturing services.
The company aids drug innovators for development and process optimization for novel drug molecules in various stages of the development process. Once the innovative molecules are approved, the company further explore the possibility of large scale commercial supply tie-ups. The company is generating a healthy pipeline of contract manufacturing opportunities commensurate to the growing revenue base of manufacturing. Its robust business model is capable of sustaining growth, with CRAMS being the focal point of all its strategic efforts.
Business area of the company
The company is a fully integrated CRAMS player working with global pharmaceutical innovators. It has a global presence with development and manufacturing facilities across Europe, India, and China. It provides end-to-end, integrated, high-value, niche CRAMS offering, right from process research & development to late-stage clinical and commercial manufacturing facilities along with the supply of Active Pharmaceutical Ingredients (API) to innovator pharmaceutical companies.
Products and services
History and Milestones
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