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Nirmal Bang Report
Adjusted for one-time costs, Dishman Carbogen Amcis Ltd.’s Q4 FY22 Ebitda stood at Rs 767 million, which was down by 30% QoQ.
The disappointing show was due to heightened margin pressure, mainly caused by the Russia-Ukraine conflict, which dragged down Ebitda by ~Rs 75 million.
Reported Ebitda stood at Rs 220 million and was affected by one-time costs of ~Rs 545 million (provision for soil reclamation, provision of Rs 200 million due to particle observed in certain batches and provision for pension and leave due to last year salary base correction).
Dishman Carbogen’s contract research and manufacturing services India business partially recovered from the adverse impact post the European Directorate for the Quality of Medicines and HealthCare import alert.
CRAMS India sales grew by 114% YoY and 22.2% QoQ. However, the restricted import alert is yet to be lifted as EDQM is yet to re-inspect the plant post remediation.
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