---
title: "Dishman Pharmaceuticals and Chemicals Ltd(Merged) (DISHMAN) — Share Price, Financials & Analysis"
symbol: "DISHMAN"
company: "Dishman Pharmaceuticals and Chemicals Ltd(Merged)"
canonical: "https://tapetide.com/stocks/DISHMAN"
nse_symbol: "DISHMAN"
sector: "Healthcare"
industry: "Pharmaceuticals & Biotechnology"
generated_at: "2026-09-13T19:39:21.115Z"
---

# Dishman Pharmaceuticals and Chemicals Ltd(Merged) (DISHMAN)

Canonical page: https://tapetide.com/stocks/DISHMAN

## Company

- **NSE Symbol:** DISHMAN
- **Sector:** Healthcare
- **Industry:** Pharmaceuticals & Biotechnology
- **Macro Sector:** Healthcare
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** dishmangroup.com

## About

Dishman Pharmaceuticals and Chemicals Limited operates as an outsourcing partner for the pharmaceutical industry. The Company manufactures and supplies intermediates, fine chemicals and various products for pharmaceutical, cosmetic and related industries.

## Latest Price

## Key Insights

### Weaknesses

- Stock is trading at 2.90 times its book value
- The company has delivered a poor sales growth of 9.13% over past five years.
- Company has a low return on equity of 10.9% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 6% | 20% | 16% |
| revenue growth | 7% | 8% | 9% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 363 | 403 | 390 | 424 | 404 | 380 | 392 | 422 | 375 | 437 | 362 | 534 |
| Expenses | 287 | 316 | 316 | 348 | 298 | 286 | 280 | 318 | 273 | 321 | 267 | 388 |
| Operating Profit | 75 | 88 | 74 | 76 | 106 | 94 | 112 | 105 | 102 | 116 | 95 | 146 |
| OPM % | 21 | 22 | 19 | 18 | 26 | 25 | 29 | 25 | 27 | 27 | 26 | 27 |
| Other Income | 4 | 1 | 8 | 73 | 4 | 8 | -1 | 13 | 7 | 8 | 16 | 4 |
| Interest | 21 | 18 | 26 | 25 | 32 | 26 | 18 | 20 | 22 | 19 | 13 | 10 |
| Depreciation | 31 | 24 | 25 | 71 | 26 | 34 | 31 | 30 | 28 | 31 | 51 | 57 |
| Profit before tax | 29 | 47 | 31 | 53 | 52 | 42 | 62 | 67 | 58 | 74 | 46 | 83 |
| Tax % | 17 | 29 | 21 | 27 | 23 | 34 | 27 | 26 | 22 | 26 | 37 | 48 |
| Net Profit | 24 | 33 | 24 | 39 | 40 | 28 | 44 | 50 | 46 | 55 | 29 | 43 |
| EPS in Rs | 2.95 | 4.13 | 2.98 | 4.78 | 4.96 | 3.44 | 5.55 | 6.19 | 2.82 | 3.39 | 1.79 | 2.65 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 803 | 1062 | 915 | 1031 | 1124 | 1272 | 1385 | 1589 | 1596 | 1708 |
| Expenses | 659 | 801 | 712 | 830 | 899 | 982 | 1053 | 1275 | 1186 | 1249 |
| Operating Profit | 144 | 261 | 203 | 202 | 225 | 290 | 332 | 314 | 410 | 460 |
| OPM % | 18 | 25 | 22 | 20 | 20 | 23 | 24 | 20 | 26 | 27 |
| Other Income | 60 | 8 | 29 | 14 | 13 | 18 | 25 | 86 | 27 | 34 |
| Interest | 34 | 49 | 39 | 56 | 73 | 79 | 92 | 90 | 94 | 65 |
| Depreciation | 47 | 63 | 59 | 69 | 77 | 84 | 109 | 151 | 109 | 168 |
| Profit before tax | 123 | 157 | 134 | 91 | 88 | 145 | 156 | 159 | 233 | 261 |
| Tax % | 2 | 7 | 13 | 12 | 35 | 31 | 30 | 25 | 27 | — |
| Net Profit | 120 | 146 | 117 | 80 | 57 | 100 | 109 | 120 | 171 | 172 |
| EPS in Rs | 15.02 | 18.12 | 14.55 | 9.91 | 7.03 | 12.43 | 13.54 | 14.85 | 21.2 | 10.65 |
| Dividend Payout % | 7 | 7 | 8 | 12 | 17 | 10 | 9 | 13 | 9 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 14 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 301 | 558 | 688 | 768 | 863 | 915 | 1018 | 1165 | 1222 | 1435 |
| Borrowings | 561 | 630 | 724 | 774 | 868 | 850 | 854 | 974 | 933 | 943 |
| Other Liabilities | 285 | 262 | 224 | 232 | 334 | 469 | 403 | 472 | 638 | 586 |
| Total Liabilities | 1161 | 1466 | 1652 | 1790 | 2081 | 2249 | 2291 | 2628 | 2809 | 2981 |
| Fixed Assets | 538 | 685 | 778 | 843 | 1012 | 1033 | 1373 | 1505 | 1441 | 1545 |
| CWIP | 65 | 148 | 223 | 357 | 307 | 418 | 97 | 79 | 142 | 85 |
| Investments | 14 | 1 | 1 | 1 | 1 | 26 | 25 | 25 | 25 | 25 |
| Other Assets | 544 | 631 | 650 | 588 | 761 | 771 | 796 | 1019 | 1201 | 1325 |
| Total Assets | 1161 | 1466 | 1652 | 1790 | 2081 | 2249 | 2291 | 2628 | 2809 | 2981 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 43 | 49 | 132 | 302 | 203 | 154 | 165 | 344 | 294 | 279 |
| Cash from Investing Activity | -418 | -252 | -168 | -295 | -231 | -104 | -117 | -257 | -158 | -153 |
| Cash from Financing Activity | 275 | 205 | 44 | -7 | 25 | -68 | -50 | -74 | -142 | -94 |
| Net Cash Flow | -100 | 2 | 8 | 0 | -3 | -18 | -2 | 14 | -6 | 32 |
| Free Cash Flow | -373 | -220 | -37 | -2 | -37 | 59 | 31 | 56 | 156 | 158 |
| CFO/OP | 44 | 41 | 56 | 157 | 107 | 74 | 63 | 113 | 108 | 82 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 79 | 80 | 51 | 45 | 60 | 61 | 21 | 38 | 50 | 35 |
| Inventory Days | 537 | 375 | 339 | 316 | 272 | 253 | 328 | 414 | 298 | 524 |
| Days Payable | 118 | 74 | 55 | 104 | 172 | 157 | 102 | 82 | 101 | 94 |
| Cash Conversion Cycle | 498 | 381 | 335 | 258 | 160 | 157 | 247 | 369 | 247 | 465 |
| Working Capital Days | 151 | 157 | 138 | 137 | 98 | 92 | 103 | 118 | 109 | 140 |
| ROCE % | 16 | 14 | 16 | 12 | 9 | 9 | 12 | 12 | 12 | 14 |

## Shareholding Pattern

### annual

| Category | Mar 2017 |
| --- | --- |
| Promoters | 61.4% |
| FIIs | 10.92% |
| DIIs | 9.92% |
| Public | 17.76% |
| No. of Shareholders | 52417 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 |
| --- | --- | --- | --- | --- |
| Promoters | 61.4% | 61.4% | 61.4% | 61.4% |
| FIIs | 19.3% | 15.75% | 15.08% | 10.92% |
| DIIs | 4.64% | 7.26% | 7.87% | 9.92% |
| Public | 14.66% | 15.59% | 15.65% | 17.76% |
| No. of Shareholders | 47781 | 43899 | 52291 | 52417 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 6 / 1

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 147.01 | Buy |
| EMA (10) | 145.24 | Buy |
| SMA (20) | 144.13 | Buy |
| EMA (20) | 142.2 | Buy |
| SMA (50) | 129.54 | Buy |
| EMA (50) | 134.61 | Buy |
| SMA (100) | 127.25 | Buy |
| EMA (100) | 132.5 | Buy |
| SMA (200) | 137.99 | Buy |
| EMA (200) | 136.66 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 55.75 | Neutral |
| MACD (12,26,9) | 4.67 | Sell |
| Stochastic (14,3,3) | 36.73 | Neutral |
| ADX (14) | 39.89 | Buy |
| Williams %R (14) | -57.74 | Neutral |
| ATR (14) | 10.61 | High Volatility |
| ROC (12) | 0.41 | Buy |
| Stoch RSI (14) | 21.5 | Neutral |
| UO (7,14,28) | 36.69 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 5 Sep 2017 - SUBMISSION OF NOTICE OF 10TH ANNUAL GENERAL MEETING ALONGWITH ANNUAL REPORT FOR THE FY 2016-17 | [Updates 5 Sep 2017 - SUBMISSION OF NOTICE OF 10TH ANNUAL GENERAL MEETING ALONGWITH ANNUAL REPORT FOR THE FY 2016-17](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6217ff09-e578-440e-9bd6-b597472afad0.pdf) |
| 5 Sep 2017 - SUBMISSION OF NOTICE OF 10TH ANNUAL GENERAL MEETING ALONGWITH ANNUAL REPORT FOR THE FY 2016-17 | [Updates 5 Sep 2017 - SUBMISSION OF NOTICE OF 10TH ANNUAL GENERAL MEETING ALONGWITH ANNUAL REPORT FOR THE FY 2016-17](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/9/6217ff09-e578-440e-9bd6-b597472afad0.pdf) |
| 20 Sep 2017 - The Company, Dishman Carbogen Amcis Limited, has received Listing and Trading Approval for 161394272 Equity Shares of Rs.2/- each of the Company through Rule 19(2)(b) … | [Updates 20 Sep 2017 - The Company, Dishman Carbogen Amcis Limited, has received Listing and Trading Approval for 161394272 Equity Shares of Rs.2/- each of the Company through Rule 19(2)(b) …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6ba96a9a-5790-4630-879a-88277c9888ef.pdf) |
| 20 Sep 2017 - The Company, Dishman Carbogen Amcis Limited, has received Listing and Trading Approval for 161394272 Equity Shares of Rs.2/- each of the Company through Rule 19(2)(b) … | [Updates 20 Sep 2017 - The Company, Dishman Carbogen Amcis Limited, has received Listing and Trading Approval for 161394272 Equity Shares of Rs.2/- each of the Company through Rule 19(2)(b) …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/9/6ba96a9a-5790-4630-879a-88277c9888ef.pdf) |
| 15 Sep 2017 - Company has published Newspaper Advertisement as per SEBI Circular No. CIR/CFD/CMD/16/2015 dated November 30, 2015 on 15th September, 2017 in 'Financial Express' (English edition); 'Jansatta' … | [Updates 15 Sep 2017 - Company has published Newspaper Advertisement as per SEBI Circular No. CIR/CFD/CMD/16/2015 dated November 30, 2015 on 15th September, 2017 in 'Financial Express' (English edition); 'Jansatta' …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/9/4c26bc4c-b36b-4eed-9416-a529860066d7.pdf) |
| 15 Sep 2017 - Accordingly, the Company has published Newspaper Advertisement as per SEBI Circular No. CIR/CFD/CMD/16/2015 dated November 30, 2015 on 15th September, 2017 in 'Financial Express' (English … | [Updates 15 Sep 2017 - Accordingly, the Company has published Newspaper Advertisement as per SEBI Circular No. CIR/CFD/CMD/16/2015 dated November 30, 2015 on 15th September, 2017 in 'Financial Express' (English …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4c26bc4c-b36b-4eed-9416-a529860066d7.pdf) |
| 13 Sep 2017 - Transcript of conference call arranged by the Company with Analyst & Investors, on Wednesday, 16th August, 2017 to discuss the financial result and performance of … | [Analyst / Investor Meet - Outcome 13 Sep 2017 - Transcript of conference call arranged by the Company with Analyst & Investors, on Wednesday, 16th August, 2017 to discuss the financial result and performance of …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b4dc5c99-250d-4d64-a735-7a5128f389a8.pdf) |
| 13 Sep 2017 - Transcript of conference call arranged by the Company with Analyst & Investors, on Wednesday, 16th August, 2017 to discuss the financial result and performance of … | [Analyst / Investor Meet - Outcome 13 Sep 2017 - Transcript of conference call arranged by the Company with Analyst & Investors, on Wednesday, 16th August, 2017 to discuss the financial result and performance of …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/9/b4dc5c99-250d-4d64-a735-7a5128f389a8.pdf) |
| — | [ANNUAL GENERAL MEETING, E-VOTING AND BOOK CLOSURE NOTICE - NEWS PAPER ADVERTISEMENT 6 Sep 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=336fe66d-00f6-4c24-8c67-7e42105d2d62.pdf) |
| — | [ANNUAL GENERAL MEETING, E-VOTING AND BOOK CLOSURE NOTICE - NEWS PAPER ADVERTISEMENT 6 Sep 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/9/336fe66d-00f6-4c24-8c67-7e42105d2d62.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2016 | [Concall - Nov 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1BAE0818_7D96_4496_A516_AFE8F74F86A8_145302.pdf) |
| May 2016 | [Concall - May 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=522A2790_2E26_4D73_B08F_97254F240DC2_120917.pdf) |
| Mar 2017 | [Concall - Mar 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=84626818-9f3f-4819-831f-7708ba0352b8.pdf) |
| Mar 2017 | [Concall - Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/84626818-9f3f-4819-831f-7708ba0352b8.pdf) |
| Jun 2017 | [Concall - Jun 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8c5b3357-5f52-4e6f-9da5-a1795f5f9a5b.pdf) |
| Jun 2017 | [Concall - Jun 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/6/8c5b3357-5f52-4e6f-9da5-a1795f5f9a5b.pdf) |
| Feb 2016 | [Concall - Feb 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2F7C9311_CC68_4E6E_B14A_2B8AD9E2AE21_124854.pdf) |
| Aug 2017 | [Concall - Aug 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e9df64fb-9e75-414f-9dcd-d2e9e30485fb.pdf) |
| Aug 2017 | [Concall - Aug 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/8/e9df64fb-9e75-414f-9dcd-d2e9e30485fb.pdf) |
| Aug 2016 | [Concall - Aug 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=CADC1934_8980_44CD_ACD1_E96E873E0F0F_121022.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_393_DISHMAN_2012_2013_11072013121151.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_DISHMAN_2011_2012_18092012091328.zip) |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_DISHMAN_2010_2011_15072011175201.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_DISHMAN_2009_2010_25082010120000.zip) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532526/5325260317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532526/5325260316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532526/5325260315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/532526/5325260314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532526/5325260313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/532526/5325260312.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:39:21.115Z.