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Nirmal Bang Report
Dishman Carbogen Amcis Ltd. reported Q2 FY21 revenue at Rs 4,395 million, 15% below our and 7% below the consensus estimate.
The revenue was down 2.1% YoY and 7% QoQ. The revenue was affected as India contract research and manufacturing services (CRAMs) business did not resume operations and the marketable molecule segment declined by 30% QoQ.
We expect India CRAMS revenue to normalize from FY22 onwards as remediation efforts for the Bavla manufacturing facility are in progress.
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