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Dishman Carbogen Amcis Net Revenue stands at Rs. 541 Crores for Q1 FY23

Ahmedabad: Dishman Carbogen Amcis Ltd, a fully integrated CRAMS (Contract Research & Manufacturing) company with strong capabilities right from process research & development to late-stage clinical and commercial manufacturing and supply of API to innovator pharmaceutical companies, announces their first quarter (Q1FY23) results.

Financial performance

Consolidated Q1FY23 review

  • Net revenue was Rs. 5,406mn for Q1 FY23 as compared to Rs. 5,507mn in the corresponding period of the previous year

  • EBITDA stood at Rs. 904 mn for Q1 FY23 as compared to Rs. 1,006 mn during the corresponding period of previous year

  • EBITDA Margin at 16.7% for Q1 FY23 as against 18.3% in Q1 FY22

  • Net Profit stood at Rs. 40 mn for Q1 FY23 as compared to Rs. 160 mn in the corresponding period of the previous year



Q1 FY23Result Highlights

  • Net Revenue at Rs 5,406 mn in Q1 FY23 down by 1.8% YoY mainly on account of lower revenues from Netherlands business.

  • Dishman Carbogen Amcis – NCE APIs and Intermediates revenue increased by 91.9% YoY primarily due to:

    • Increased supplies of APIs and intermediates from Bavla site driven by successful customer audits.

  • Dishman Carbogen Amcis – Quats and Generics revenue increased by 7.1% YoY primarily due to:

    • Increased demand for these products especially in the exports market driven by exceptional operational performance by the Naroda site.

  • Carbogen Amcis – CRAMS revenue increased by 3.0% YoY primarily due to:

    • Higher Development revenue comprised 70% of the total revenue for the quarter.

  • Carbogen Amcis – Cholesterol and Vitamin D analogs revenue decreased by 46.0% YoY primarily due to:

    • Carbogen Amcis BV’s Q1FY22 revenue was almost 38% of the total year’s revenue, thus extremely front-ended, which is not the case this year. One of the customers last year had stocked up huge amount of inventory in the June quarter.

  • EBITDA Margin at 16.3% in Q1 FY23 compared to 18.3% in Q1 FY22 due to:

    • Higher energy costs and higher raw material costs impacted the cost base significantly in Carbogen Amcis BV in the first quarter as compared to last year same quarter.

    • Higher logistics costs have also impacted the cost base globally.

    • One time FX loss impact approximately Rs. 9.00 crores as part of “Other Expenses”

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