Advanced Enzyme Technologies
NSE Symbol: ADVENZYMES
Market Cap : ₹ 3,450.48 Cr.
Stock P/E: 40.10
Book Value: ₹ 44.56
Face Value: ₹ 2.00
CMP : 307.50
Financial Results
| Quarter Ended | 30 Sep 2017 | 30 Jun 2017 |
|---|---|---|
| Total Income | 4,916.70 | 4,830.30 |
| PBT | 689.50 | 712.20 |
| Net Profit/Loss | 541.40 | 508.00 |
Value in lakhs
Share Holding Pattern
| Category | 30 Sep 2017 | 31 Dec 2017 |
|---|---|---|
| Promoter & Promoter Group | 71.31 | 71.31 |
| Public | 28.69 | 28.69 |
| Shares held by Employee Trusts | 0.00 | 0.00 |
| Total | 100.00 | 100.00 |
Advanced Enzyme Technologies (AETL), a global manufacturer of enzymes and probiotics, will benefit from research & development of new applications for use of enzymes across various industries. Acquisition of 70% stake in JC Biotech would enhance the company’s market share in ‘anti-inflammatory enzyme’ segment. We expect revenue and PAT CAGR of 11% and 13% respectively over FY17-19E.
AETL is a marginal player in global enzyme market, but a leading player in niche nutraceutical industry. Its revenue consists of Human Health Care (72%), Animal Health Care (15%), Food (7%) and Industrial Processing (6%) in FY17. It has 28 registered patents and more than 400 proprietary products. AETL plans to broaden and deepen its geographical presence, invest in R&D of new enzymes and enhance competencies in key focus markets to boost revenue.
AETL enjoys 10% market share in specialty enzyme markets, which is expected to post 10% CAGR over FY17-22E. This will be driven by falling cost of DNA manipulation and demographic shift to diagnostic enzymes. Consequently, we expect revenue CAGR of 11% over FY17-19E. Estimate PAT CAGR of 13% over FY17-19E, aided by reduction in interest cost as a result of debt reduction by the company. The company expects the revenue to hit Rs 1000 crore mark in the coming 5 fiscals through organic and inorganic growth.
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