Carbogen Amcis – CRAMS revenue increased by 9.7% YoY primarily due to increased commercial supplies of APIs delivered in QIII FY23. Carbogen Amcis – Cholesterol and Vitamin D analogues revenue increased by 51.9% YoY primarily due to many orders for this segment were back ended this year as compared to last year.

Profit before tax (PBT) rose 18.5% YoY to Rs 45.60 crore in Q3 FY23. EBITDA stood at Rs 114.87 crore for Q3 FY23 as compared to Rs 109.50 crore during the corresponding period of previous year, an increase of 4.9%.

EBITDA margin was at 18% for Q3 FY23 as against 19.5% in Q3 FY22. The company reported lower EBITDA margin for the India business, especially for the Bavla site due to certain one-time EDQM expenses. Lower EBITDA margin for the Dutch business was due to higher prices of raw materials and higher energy costs.

Total expenditure rose 16.8% YoY to Rs 528.45 crore in Q3 FY23. Cost of raw material consumed fell 18.2% to Rs 86.17 crore while employee expenses rose 5.9% to Rs 270.23 crore.

Cost of goods sold (COGS) was lower by 38.8% due to higher sales of late Phase III molecules, including validation batches. Other expenses were higher by 150% on account of provision for onerous contracts of Rs 24 crore, forex loss of Rs 34 crore and EDQM and other external factors.

Dishman Carbogen Amcis is a fully integrated CRAMS (contract research & manufacturing) company. The company has global presence with development and manufacturing sites in Switzerland, UK, France, Netherlands, India, and China.