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NCD

DISHMAN CARBOGEN AMCIS LIMITED

ISIN: INE385W07059

10.70%YTM
Payouts : Quarterly
Maturity Date : 20 Jan 2029
10.70%
YTM
₹ 1,00,986.56
Min Investment
Quarterly
Payout
₹ 1,00,000
Face Value
10.00%
Coupon
20 Jan 2029
Maturity Date
Currently subscribedLot Size : 50 Units available

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About The Issuer

Dishman Carbogen Amcis Limited (DCAL) is a globally integrated CRAMS (Contract Research & Manufacturing Services) and specialty chemicals company serving innovator and generic pharmaceutical clients. The group offers end-to-end services across process R&D, scale-up, late-stage clinical and commercial manufacturing, including APIs, intermediates, high-potency APIs and Vitamin-D analogues. DCAL operates manufacturing and R&D facilities across India, Europe and other global locations through the Carbogen Amcis network and supplies to regulated markets.

Metric
FY23
Revenue (₹ cr)
2,412.9
Net Worth (₹ cr)
~5,810
EBITDA (₹ cr)
414.2 (Adj.)
PAT (₹ cr)
Moderated
Rating
IND A+/Stable
💡Issuer Health Summary

Key financial indicators to assess stability & repayment capacity.

Key Risks & Disclosures

Regulatory & Compliance Risk:DCAL’s European facilities have faced regulatory observations from EDQM in recent years, impacting production and profitability. Any adverse regulatory outcomes can affect exports, revenues and cash flows.
Client & Product Concentration:A meaningful share of revenues is driven by marketable molecules (vitamin D analogues, specialty chemicals). Demand cyclicality in pharma and pricing pressure in generics can impact earnings.
Global Operating Cost Volatility:High energy costs in Europe, currency volatility and compliance capex can materially affect margins and near-term profitability.
Project Execution & R&D Risk:CRAMS pipeline execution depends on successful scale-up and regulatory approvals of client molecules. Delays in client programs can lead to volatility in capacity utilisation.

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Trade & Settlement

Trade date
12 Mar 2026
Orders placed after 4 PM will be executed on the next business day.Weekends & exchange holidays are skipped.

Totals (For Selected Units)

Price per Unit
₹1,00,986.56
Investment amount
₹1,00,986.56
Total Interest
₹16,222.61
Total Receivable
₹1,16,222.61

Diligence Documents

Consent letter from DT 10.12.2025_20260120211756Download
NCD Rating Letter_20260120211756Download
Disclosure DocumentsDownload
KEY INFORMATION DOCUMENTDownload
Annexure V Shareholding Structure for quarter ended 30 09 2025Download
Annexure II Related Party TransactionsDownload
Annexure III ResolutionsDownload
Annexure VII Peer Review CertificateDownload
GENERAL INFORMATION DOCUMENTDownload

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