Stock Performance and Market Context
On 20 Feb 2026, Dishman Carbogen Amcis Ltd’s share price touched an intraday low of Rs.179.6, representing a 5.55% decline on the day and a 5.36% drop compared to the previous close. This marks the lowest price level for the stock in the past 52 weeks, down sharply from its high of Rs.321.15. The stock has been on a losing streak for two consecutive days, delivering a cumulative negative return of 9.12% over this period.
The stock’s performance today notably lagged behind its Pharmaceuticals & Biotechnology sector, underperforming by 5.35%. Furthermore, Dishman Carbogen Amcis Ltd is trading below all key moving averages — including the 5-day, 20-day, 50-day, 100-day, and 200-day averages — signalling sustained bearish momentum.
In contrast, the broader market showed resilience. The Sensex, after a negative start, rebounded sharply by 596.30 points to close at 82,868.79, up 0.45%. The index remains within 3.97% of its 52-week high of 86,159.02, supported by gains in mega-cap stocks. Despite this positive market backdrop, Dishman Carbogen Amcis Ltd’s shares have continued to decline.
Long-Term Performance and Relative Underperformance
Over the past year, Dishman Carbogen Amcis Ltd’s stock has declined by 18.65%, a stark contrast to the Sensex’s 9.39% gain and the BSE500’s 12.00% return. This underperformance highlights the stock’s challenges in keeping pace with broader market and sector trends.
The stock’s 52-week high of Rs.321.15 is nearly 79% above the current low, underscoring the extent of the decline. This wide gap reflects investor concerns and the company’s financial trajectory over the last twelve months.
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Financial Metrics and Fundamental Assessment
Dishman Carbogen Amcis Ltd’s financial indicators continue to reflect challenges. The company’s Return on Capital Employed (ROCE) remains weak at 0.97% on a long-term basis, indicating limited efficiency in generating returns from its capital base. Net sales have grown at a modest annual rate of 8.10% over the past five years, suggesting subdued top-line expansion relative to industry peers.
Debt servicing capacity is a concern, with a high Debt to EBITDA ratio of 4.96 times, signalling elevated leverage and potential strain on cash flows. Quarterly performance metrics further illustrate pressures: the Profit After Tax (PAT) stood at a negative Rs.12.97 crores, a decline of 403.0% compared to the previous period. Operating profit to interest coverage ratio is at a low 2.47 times, while quarterly PBDIT is at Rs.113.11 crores, the lowest recorded in recent quarters.
Institutional investor participation has also diminished, with a 0.51% reduction in stake over the previous quarter. Currently, institutional investors hold 8.93% of the company’s shares, reflecting a cautious stance from entities with greater analytical resources.
Valuation and Comparative Metrics
Despite the weak fundamentals, the stock’s valuation metrics present some contrasting signals. The company’s ROCE of 3.2% on a more recent basis, combined with an Enterprise Value to Capital Employed ratio of 0.6, suggests a very attractive valuation relative to its capital base. The stock is trading at a discount compared to the average historical valuations of its peers within the Pharmaceuticals & Biotechnology sector.
Profitability has shown improvement over the past year, with profits rising by 233.1%, although this has not translated into positive stock returns. The company’s Price/Earnings to Growth (PEG) ratio stands at a low 0.1, indicating that the stock price is not fully reflecting earnings growth potential.
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Mojo Score and Rating Update
MarketsMOJO assigns Dishman Carbogen Amcis Ltd a Mojo Score of 17.0, reflecting a Strong Sell rating as of 12 Jan 2026. This represents a downgrade from the previous Sell rating, signalling increased caution based on the company’s financial and market performance. The Market Cap Grade is rated at 3, indicating a relatively modest market capitalisation within its sector.
The downgrade aligns with the stock’s recent price action and fundamental indicators, reinforcing the challenges faced by the company in maintaining investor confidence and market valuation.
Summary of Key Concerns
Dishman Carbogen Amcis Ltd’s stock decline to Rs.179.6, its 52-week low, is underpinned by a combination of weak long-term returns, subdued sales growth, high leverage, and deteriorating profitability metrics. The reduction in institutional holdings further emphasises the cautious outlook among sophisticated investors. Despite some valuation appeal based on recent profit growth and discounted multiples, the overall financial profile remains subdued.
In the context of a recovering Sensex and a sector that has generally outperformed, the stock’s continued underperformance highlights the specific challenges it faces within the Pharmaceuticals & Biotechnology industry.
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