Dishman Carbogen Amcis reports net loss of Rs16cr in Q3FY21

Sales declined 10.8% to Rs463.24cr in Q3FY21 as against Rs519.36cr in Q3FY20. CRAMS revenue decreased by 14.7% yoy.

Feb 12, 2021 12:02 IST India Infoline News Service

Dishman Pharmaceuticals
Dishman Carbogen Amcis Limited reported net loss of Rs16.07cr in the quarter ended December 2020 as against net profit of Rs32.85cr during the previous quarter ended December 2019. Sales declined 10.8% to Rs463.24cr in Q3FY21 as against Rs519.36cr in Q3FY20.

CRAMS revenue decreased 14.7% yoy primarily due to:
  • CRAMS India revenue decreased by 61.0% due to EDQM observations but on account of certain successful customer audits and production of certain complex intermediates, this is expected to improve going forward.
  • CRAMS Carbogen Amcis AG revenue decreased by 9.7% due to lower commercial revenue in the current quarter.
  • CRAMS UK revenue increased by 22.6% due to supply of more non-GMP products during the quarter.

EBITDA Margin (including Forex impact) at 13.4% in Q3 FY21, affected by:
  • Lower contribution to EBITDA from CRAMS India where the margins are higher than other geographies.
  • Negative forex impact of Rs21.96cr in Q3FY21 as compared to positive forex impact of Rs3.13cr in Q3FY20.
Capital expenditure for the expansion in France and Switzerland were approx. CHF 7mn spent in Q3FY21.
Net Debt was at appx. USD 112mn as on December 31, 2020

The company also informed about the business updates in India:
  • Ongoing manufacturing of complex starting material for Swiss based client in Bavla due for delivery in Q4FY21.
  • Ongoing campaign of 4 steps of a critical intermediate of the largest API across the group underway and expected to be
  • delivered in Q4FY21.
  • Audit successfully completed last week by client to enable manufacturing of Bedaquiline KSM from March 2021.
  • Manufacturing underway for a number of products at Bavla and Naroda.
  • EDQM remediation activities progressing to plan at the Bavla sit.
At around 12.32 pm, Dishman Carbogen Amcis Ltd was trading at Rs124.10 per piece down by Rs3 or 2.36%  on the BSE.

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