Dishman Carbogen Amcis Limited has announced a significant financial development for its subsidiary, CARBOGEN AMCIS Holding AG. The Swiss-based subsidiary has successfully refinanced its syndicated credit facilities, resulting in a substantial increase in its credit capacity.

Key Highlights of the Refinancing

• Additional Credit: The refinancing has added CHF 40.00 million in extra credit capacity.
• Accordion Feature: An additional CHF 30.00 million option is available through an accordion feature.
• Total Credit Capacity: Following this refinancing, the company's total credit capacity now stands at:
  • CHF 162.24 million
  • EUR 50.00 million

Strategic Implications

This refinancing marks a significant step in supporting CARBOGEN AMCIS's future growth strategy. The company plans to leverage this enhanced credit facility to execute its vision-based strategy, focusing on several key areas:

1. Innovation: Advancing areas such as continuous flow chemistry and drug conjugation.
2. Digital Transformation: Emphasis on artificial intelligence to drive growth.
3. Efficiency: Improving operational processes across the organization.
4. Environmental and Safety Initiatives: Strengthening the company's commitment to sustainability and safety standards.

Management Perspective

Harshil Dalal, Global Chief Financial Officer, stated, "The successful refinancing and enhancement of the syndicated credit facilities provides access to an additional CHF 40 million, with an accordion feature enabling a further CHF 30 million. This marks a significant step in supporting the company's future growth."

Arpit Vyas, Global Managing Director, added, "Our vision is to make significant advances in areas such as continuous flow chemistry, drug conjugation, and digital transformation, with a keen focus on artificial intelligence — all of which will enable the company to continue its organic growth."

Banking Relationships

The transaction was led by UBS Switzerland AG, with participation from several leading Swiss financial institutions. This successful refinancing reflects the strength of CARBOGEN AMCIS's long-term relationships with its banking partners and their confidence in the Group's business strategy and future growth trajectory.

Future Outlook

Stephan Fritschi, CEO of CARBOGEN AMCIS, emphasized the importance of this refinancing for the company's growth journey. He stated, "It demonstrates the confidence our banking partners have in our long-term strategy and strengthens our ability to invest in the technologies and infrastructure that will support our customers' most advanced development programmes."

The company plans to focus on broadening its technological capabilities across its global organization, positioning CARBOGEN AMCIS at the forefront of innovation in the pharmaceutical industry.

This refinancing deal underscores Dishman Carbogen Amcis Limited's commitment to strengthening its financial position and supporting its long-term growth strategy in the pharmaceutical outsourcing market.

Dishman Carbogen Amcis Limited has reported robust financial results for the second quarter of fiscal year 2026, showcasing significant improvements in profitability and operational efficiency.

Key Financial Highlights

• Revenue for Q2 FY26 stood at INR 652.60 crores
• EBITDA reached INR 149.00 crores, with a margin of 22.8%
• H1 FY26 EBITDA grew by 64.4% to INR 289.50 crores compared to INR 176.00 crores in H1 FY25
• EBITDA margins improved to 21.3% in H1 FY26 from 13.4% in H1 FY25

Segment Performance

The CDMO segment showed strong performance, with a significant improvement in EBITDA margin from 19% in Q2 FY25 to 25.3% in Q2 FY26. This was primarily driven by late Phase 3 development work and supplies to a Japanese innovator for ADC molecules.

The Marketable Molecules segment experienced substantial growth, with an 85% increase in revenue compared to Q2 FY25. This growth was largely attributed to the cholesterol and vitamin D analogue business.

Operational Updates

• The French subsidiary received GMP certification, enabling drug product manufacturing capabilities
• Increased sales force in China and the U.S. to penetrate markets more effectively
• Entered into a collaboration with Celonic for antibody production development, enhancing the company's end-to-end ADC offering

Future Outlook

Management expects 8-10% revenue growth for the full year FY26 and aims to achieve 20% EBITDA margins. The company is focusing on ramping up operations at its Bavla site in India and expects significant growth in the coming years.

Dishman Carbogen Amcis is also considering a fundraise of up to INR 1,000.00 crores, primarily to retire Indian debt of approximately INR 700.00 crores, which could potentially improve the company's financial position and reduce interest costs.

With a strong pipeline of late-phase molecules and increasing interest in its ADC capabilities, Dishman Carbogen Amcis appears well-positioned for future opportunities. However, investors should note that the realization of this potential depends on various factors, including successful commercialization of pipeline molecules and market conditions.