Dishman EGM set for June 19 to approve ECB

Dishman Carbogen Amcis Limited has scheduled an Extra-Ordinary General Meeting (EGM) for June 19, 2026, to seek shareholder approval for increasing its borrowing limits and availing a loan from a promoter group entity. The meeting will be held via Video Conferencing and Other Audio Visual Means at 15:00 hrs IST. Shareholders holding shares as on the cut-off date of June 12, 2026, are eligible to vote.

Agenda for Shareholder Approval

The EGM will address two key special businesses. The first is a Special Resolution to increase borrowing limits pursuant to Section 180(1)(c) of the Companies Act, 2013. The second is an Ordinary Resolution to avail a loan from Aamanya AG, a Promoter Group Entity, under the External Commercial Borrowings (ECB) route, classified as a Material Related Party Transaction.

External Commercial Borrowing Details

The Board previously approved raising ECBs up to CHF 200 million from Aamanya AG to refinance existing debt. This revised the earlier proposed limit of CHF 135 million. The unsecured loan carries an interest rate of SARON + 400 bps (currently 4% p.a.) and has a tenor of 10 years. Funds will be utilized to refinance existing rupee debt, meet working capital and capital expenditure requirements, and for general corporate purposes.

Borrowing Limits

Consequent to the ECB approval, the Board passed a resolution to increase the borrowing limits from INR 1,700 Crores to INR 4,000 Crores. This increase requires shareholder ratification.

E-Voting Schedule

Remote e-voting will commence on June 16, 2026, at 9:00 a.m. and conclude on June 18, 2026, at 5:00 p.m. Shareholders who have voted remotely are not eligible to vote during the meeting. Mr. Ashok P. Pathak, Practicing Company Secretary, has been appointed as the Scrutinizer.

Particulars	Details
Lender	Aamanya AG
Loan Amount	CHF 200 million (approx. INR 2452 Crores)
Interest Rate	SARON + 400 bps (4% p.a.)
Maturity	10 years
Security	Unsecured

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.36%	-3.24%	-8.92%	-29.49%	-31.83%	-13.80%

Dishman Carbogen Amcis has released its audited financial results for the quarter and year ended March 31, 2026. The company reported a significant increase in revenue for both the fourth quarter and the full fiscal year, driven by strong performance across its CDMO and Marketable Molecules segments. Management highlighted that the increase in CDMO revenue was primarily driven by higher commercial revenue and development revenue from late Phase III molecules, while growth in the Marketable Molecules segment was attributed to increased supplies of Vitamin D analogues.

Q4 FY26 Performance

For the quarter ended March 31, 2026, the company recorded a net revenue of ₹8,514 mn, an increase of 18.9% compared to ₹7,163 mn in the same period of the previous year. The CDMO segment contributed ₹6,909 mn to the revenue, while Marketable Molecules contributed ₹1,605 mn. EBITDA for the quarter stood at ₹1,630 mn, with a margin of 19.1%, compared to an EBITDA of ₹1,527 mn and a margin of 21.3% in Q4 FY25.

FY26 Annual Results

For the full fiscal year FY26, net revenue grew by 8.1% to ₹29,319 mn from ₹27,115 mn in FY25. The CDMO segment revenue for the year was ₹24,413 mn, and Marketable Molecules revenue was ₹4,906 mn. The company achieved an EBITDA of ₹5,656 mn for FY26, translating to a margin of 19.3%, an improvement from the 17.3% margin recorded in the previous year.

Financial Metrics

The following table summarizes the key financial metrics for the quarter and full year:

Metric	Q4 FY26 (₹ mn)	Q4 FY25 (₹ mn)	FY26 (₹ mn)	FY25 (₹ mn)
Net Revenue	8,514	7,163	29,319	27,115
EBITDA	1,630	1,527	5,656	4,689
EBITDA Margin (%)	19.1%	21.3%	19.3%	17.3%
Profit After Tax	217.4	430.9	974.5	32.4

Operational Highlights

During the earnings conference call held on May 20, 2026, management noted that the company secured more than 10 late-phase projects, including PPQ campaigns. The Specialties business unit reported strong Vitamin D and analogue sales with high margins, supported by an optimized supplier base. The company initiated cost-control measures and increased its sales force across sites to attract more products and customers. Additionally, the Board approved a proposal for a long-term external commercial borrowing from a promoter entity to repay high-cost debt in India, subject to regulatory and shareholder approvals.