Dishman Carbogen Amcis reports strong half-year earnings growth

Dishman Carbogen Amcis Ltd. reported consolidated net revenue of Rs 13,607 million for the first half of FY26, a 3.65% year-over-year increase, primarily driven by higher development revenue and increased sales of cholesterol and Vitamin D analogues. The company's H1FY26 EBITDA surged to Rs 2,896 million from Rs 1,761 million in H1FY25, boosting the EBITDA margin to 21.3% from 13.4% in the previous year.

For Q2 FY26, net revenue was Rs 6,527 million, down from Rs 7,890 million in Q2 FY25. This decrease in CDMO revenue by 28.4% compared to Q2 FY25 was attributed to the postponement of a commercial batch shipment and rescheduling of development projects totaling CHF 9.8 million. Despite this, Q2 FY26 EBITDA reached Rs 1,489 million, slightly up from Rs 1,472 million in Q2 FY25, with the EBITDA margin improving to 22.8% from 18.7%.

MM revenue saw substantial growth, increasing by 85.6% quarter-over-quarter and 33.7% year-over-year in H1FY26 due to higher cholesterol and Vitamin D analogues supplies. Net Debt, excluding lease liabilities, stood at CHF 141.43 million as of September 30, 2025, a reduction from CHF 157.6 million on March 31, 2025. Capital expenditure for Q2 FY26 was $7.3 million, bringing the H1FY26 total to $13.3 million.