Dishman Carbogen Amcis Limited (DCAL) has announced an amendment to the financial covenants for its Non-Convertible Debentures (NCDs) issued under ISIN INE385W07059. The company received a consent letter from the Debenture Trustee, Axis Trustee Services Limited, dated March 31, 2026, proposing amendments for the Financial Year ended March 31, 2026. While the Net Debt to Tangible Net Worth covenant remains unchanged at 1.75 times on a consolidated and standalone basis, waivers have been granted for other key financial covenants. These include the Total Net Debt to EBIDTA ratio (previously 4 times), the Adjusted Debt Service Coverage Ratio (previously at least 1.15x), and the Interest Coverage Ratio (previously at least 2x). These waivers are applicable on a consolidated basis. The NCDs in question amount to ₹50 crore, with each debenture having a face value of ₹1,00,000. The Debenture Trust Deed was executed on January 17, 2026. The announcement was made on April 2, 2026.
