Advanced Enzyme Technologies Ltd - Stock Valuation and Financial Performance

BSE: 540025 | NSE: ADVENZYMES | Pharmaceuticals & Drugs | Small Cap

Advanced Enzyme Share Price

463 6.95 1.52%
as on 31-Oct'24 16:01

DeciZen - make an informed investing decision on Advanced Enzyme

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Advanced Enzyme Technologies stock performance -

mw4me loader
P/E Ratio (SA):
49.13
Market Cap:
5,291.4 Cr.
52-wk low:
306
52-wk high:
571.2

Is Advanced Enzyme Technologies Ltd an attractive stock to invest in?

1. Is Advanced Enzyme Technologies Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Advanced Enzyme Technologies Ltd is a good quality company.

2. Is Advanced Enzyme Technologies Ltd undervalued or overvalued?

The key valuation ratios of Advanced Enzyme Technologies Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Advanced Enzyme Technologies Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Advanced Enzyme Technologies Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Advanced Enzyme:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Advanced Enzyme Technologies Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 13.8%14.3%18.1%15.1%14.9%21.5%24.2%15.8%14.8%24.3%-
Value Creation
Index
0.00.00.30.10.10.50.70.10.10.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 126139173212222247283273312365366
Sales YoY Gr.-10.5%24.1%22.8%4.7%11.4%14.6%-3.8%14.2%17.3%-
Adj EPS 1.823.13.23.25.26.34.8510.89.6
YoY Gr.-11.2%58.1%1.9%-0.9%64.6%21.7%-24.2%3.3%118.4%-
BVPS (₹) 14.31622.825.628.332.938.742.94751.657.6
Adj Net
Profit
19.321.634.935.635.358.170.753.755.5121108
Cash Flow from Ops. 33.522.321.122.635.44684.237.150.355.8-
Debt/CF from Ops. 1.22.21.820.60.20000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.6%10.5%8.8%17.3%
Adj EPS 22.2%27.9%19.6%118.4%
BVPS15.3%12.8%10.1%9.9%
Share Price - 19.6% 6.4% 49.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
13.213.116.313.111.616.817.611.71121.917.6
Op. Profit
Mgn %
2726.828.423.323.931.535.726.724.428.827.7
Net Profit
Mgn %
15.415.520.216.815.923.52519.717.833.129.4
Debt to
Equity
0.30.30.20.20.100000-
Working Cap
Days
236224199205234223203230220194112
Cash Conv.
Cycle
14213412511311312010612412612891

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.60%

Net Profit is growing at healthy rate in last 3 years 19.60%

Sales growth is good in last 4 quarters at 13.04%

Sales growth has been subdued in last 3 years 8.84%

Latest Financials - Advanced Enzyme Technologies Ltd.

Standalone Consolidated
TTM EPS (₹) 9.6 12.4
TTM Sales (₹ Cr.) 366 631
BVPS (₹.) 57.6 121.2
Reserves (₹ Cr.) 622 1,334
P/BV 8.21 3.90
PE 49.13 38.17
From the Market
52 Week Low / High (₹) 306.00 / 571.15
All Time Low / High (₹) 91.05 / 571.15
Market Cap (₹ Cr.) 5,291
Equity (₹ Cr.) 22.4
Face Value (₹) 2
Industry PE 46.8

Management X-Ray of Advanced Enzyme:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Advanced Enzyme

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales126139173212222247283273312365
Operating Expenses 92103124163169170183200236260
Manufacturing Costs19191819182021303441
Material Costs3744628686899699123132
Employee Cost 19242732333334394150
Other Costs 17161726332931323837
Operating Profit 3436494953771017375105
Operating Profit Margin (%) 26.8%26.1%28.1%23.3%23.8%31.1%35.6%26.7%24.1%28.8%
Other Income 116669791059
Interest 5433310000
Depreciation 8788999101011
Exceptional Items 000000000-19
Profit Before Tax 222544444776987274134
Tax 3598121827181926
Profit After Tax 192135363558715556108
PAT Margin (%) 15.3%15.0%20.0%16.9%15.9%23.4%25.1%20.0%17.8%29.6%
Adjusted EPS (₹)1.81.93.13.23.25.26.44.95.09.7
Dividend Payout Ratio (%)6%10%13%16%19%12%14%21%20%53%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 156174255286316367433480525577
Share Capital 22222222222222222222
Reserves 134152233264294345410457503555
Minority Interest0000000000
Debt284533401890000
Long Term Debt516128210000
Short Term Debt222921321780000
Trade Payables89821161423201822
Others Liabilities 31322125263334303234
Total Liabilities 222261318373376423490530576633

Fixed Assets

Gross Block167170107114122160174183204213
Accumulated Depreciation6269816243342516171
Net Fixed Assets106101989897127132132143142
CWIP 47810710791122
Investments 2753103120120121184189201256
Inventories39475155596063807797
Trade Receivables25233139385255496775
Cash Equivalents 1210132182519
Others Assets20282551545046525222
Total Assets 222261318373376423490530576633

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 33222123354684375056
PBT 222544444776987274134
Adjustment 14116973425-24
Changes in Working Capital 3-9-19-21-6-209-15-13-27
Tax Paid -6-6-10-9-12-13-27-21-16-27
Cash Flow From Investing Activity -7-27-55-22-2-25-70-14-42-7
Capex -4-1-7-7-4-41-9-9-23-21
Net Investments -1-26-50-160-1-63-9-22-40
Others -213221734354
Cash Flow From Financing Activity -27434-1-33-19-15-11-12-57
Net Proceeds from Shares 00470000000
Net Proceeds from Borrowing -134-3-4-9-1-2000
Interest Paid -4-4-3-3-2-10000
Dividend Paid -1-30-5-6-8-7-10-11-56
Others -97-811-16-9-7-1-1-1
Net Cash Flow -100002-112-4-8
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)13.1312.6616.1113.2611.716.9817.7611.9511.0519.61
ROCE (%)13.8414.3118.0615.0714.8521.4524.1615.7814.8324.3
Asset Turnover Ratio0.590.620.640.620.590.620.630.540.570.61
PAT to CFO Conversion(x)1.741.050.60.6410.791.180.670.890.52
Working Capital Days
Receivable Days73585359636668696871
Inventory Days1041079890938778969287
Payable Days82695163786069795755

Advanced Enzyme Technologies Ltd Stock News

Advanced Enzyme Technologies Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Advanced Enzyme on 31-Oct-2024 16:01 is ₹463.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Oct-2024 16:01 the market cap of Advanced Enzyme stood at ₹5,291.4.
The latest P/E ratio of Advanced Enzyme as of 31-Oct-2024 16:01 is 49.13.
The latest P/B ratio of Advanced Enzyme as of 31-Oct-2024 16:01 is 8.21.
The 52-week high of Advanced Enzyme is ₹571.1 and the 52-week low is ₹306.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Advanced Enzyme is ₹366.1 ( Cr.) .

About Advanced Enzyme Technologies Ltd

The company was incorporated as a private limited company on March 15, 1989 under the provisions of the Companies Act, 1956 as Advanced Biochemicals Private Limited in Maharashtra. Pursuant to a special resolution passed by the shareholders of the Company at the extra-ordinary general meeting held on April 21, 1992, the Company was converted into a public limited company and consequently the name of the Company was changed to Advanced Biochemicals Limited. A fresh certificate of change of name reflecting the new name was issued by the Registrar of Companies, Maharashtra on May 28, 1992. Pursuant to a special resolution passed by the shareholders of their Company at the extra-ordinary general meeting held on August 8, 2005, the name of Company was further changed from Advanced Biochemicals Limited to Advanced Enzyme Technologies Limited. A fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies, Maharashtra, Mumbai on August 19, 2005.

Advanced Enzymes is a research driven company with global leadership in manufacturing of enzymes and probiotics. It is the largest Indian enzyme company engaged in the research and development, manufacturing and marketing of huge proprietary products developed from various indigenous enzymes & probiotics. The company’s aim is to help consumers’ access side-effect free healthcare, help farmers enhance nutrition for animals, and also to help the industry replace traditional thermal-chemical-mechanical processes into enzyme passed processes.

Business area of the company

The company is a fully integrated enzyme manufacturing company driven by extensive focus on research and development (R&D) of various enzymes, enzyme blends, enzyme products and customized enzyme solutions. Its experienced and qualified R&D team strives to develop creative, cost-effective unique and innovative solutions, thereby enabling their customers to develop superior products and processes. The company products assist its customers in making most of their resources, optimizing their processes, improving their product quality, saving their time and money while also mitigating the impact on the environment. It supplies these value-added and eco-safe enzyme products to diverse end-user industries like human healthcare and nutrition, animal nutrition, food processing, baking, dairy and cheese processing, fruit and vegetable processing, cereal extraction, brewing, grain processing, protein processing, oil and fat processing, biomass processing, textile processing, leather processing, paper & pulp processing, bio-fuels, bio-catalysis etc. Although, the company has the capability to manufacture enzymes using all the four natural origins viz. plant, animal, bacterial and fungal, their major focus is on developing enzymes through microbial fermentation.

Products & Solutions

Human Nutrition: The company’s enzymes are being used by a wide range of customers globally as active ingredients in their pharmaceutical and nutraceutical formulations.

Animal Nutrition: By adding its enzymes to feed, the digestibility of the feed components can be enhanced considerably.

Food Processing: The company’s enzymes play an essential role in bringing more nutrition and appeal to food & beverages products, offering significant benefits beyond the scope of traditional alternatives.

Non-Food Processing: AETL offers eco-safe solutions for a variety of industries such as textiles, leather, detergent, paper & pulp which are used in manufacturing a wide range of products.

Awards

  • 2010: Advanced Enzymes receives Bio-Excellence in Industrial Biotech!
  • 2010: Advanced Enzymes wins the ‘Emerging India Awards 2010’ for Life sciences-Pharmaceuticals & Chemicals segment
  • 2011: Dr. Anil Gupta, General Manager - R&D receives the 2011 Business Leader Award from CHEMTECH foundation
  • 2012: Advanced Enzymes Technologies Limited-received most innovative exporter's award at 'ECGC organized - D&B Indian Exporters Excellence awards.
  • 2013: Advanced Enzymes ranked amongst India’s Fastest-Growing Mid-Sized Cos.
  • 2014: Advanced Enzymes receives Inc. India 500
  • 2014: Advanced Enzymes receives Bio-Excellence in Industrial Biotech
  • 2016: Advanced Enzymes Receives Best Nutraceutical Company of the Year Award
  • 2017: Best IPO Award by IR Society
  • 2018: FE CFO Awards 2018

History and Milestones

  • 1958: Mr. L.C. Rathi sets up India's first enzyme manufacturing plant.
  • 1978: Mr. L.C. Rathi pioneered the production of an enzyme called Papain.
  • 1986L: Acquisition of Super Organic Research Laboratories (SORL) to begin extraction of several commercial enzymes.
  • 1989: Establishment of Rathi Papains Pvt. Ltd. with Mr. L.C.Rathi and Mrs. Savita Rathi as it's founding directors.
  • 1989: Advanced Biochemicals Private Ltd is incorporated to offer global and holistic enzyme solutions.
  • 1991: Advanced Biochemicals commissioned its first fermentation facility at Sinnar, Maharashtra
  • 1992: Advanced Biochemicals is converted from a private company to a public company and renamed as Advanced Biochemicals Limited
  • 1993: Advanced Biochemicals sets up fermentation-based enzyme manufacturing plant with the help of foreign collaboration.
  • 1994: SORL is merged with Advanced Biochemicals Ltd
  • 1996: Advanced Biochemicals sets up a dedicated Application Research facility.
  • 1997: Advanced Biochemicals turns around and reports its first profits.
  • 2001: Advanced Biochemicals' in-house R&D labs at Thane and Sinnar are recognized by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India.
  • 2003: Sinnar Factory receives ISO 9001:2000 Systems certification.
  • 2004: Advanced Biochemicals is ranked as the largest domestic manufacturer of Industrial Enzymes.
    Advanced Biochemicals files its first patent.
  • 2005: Advanced Biochemicals Limited is renamed as Advanced Enzyme Technologies Limited (or Advanced Enzymes).
  • 2005: Sinnar Factory receives WHO CGMP certification.
  • 2006: Advanced Enzymes acquires 10 Acre land at Pitampur SEZ near Indore to setup state-of-the-art export oriented facility.
  • 2007: Phase I of the export oriented fermentation facility is completed at Pitampur SEZ near Indore.
  • 2008: Advanced Enzytech Solutions Ltd (Enzytech) is established as a subsidiary of Advanced Enzymes to cover non-food processing divisions.
  • 2009: Advanced Enzyme Far East Ltd., a subsidiary of Advanced Enzymes is dedicated to serving the Chinese market.
  • 2010: Advanced Enzymes is honoured with the 'Emerging India Awards 2010' for Life Science - Pharmaceuticals & Chemicals segment organized by ICICI Business Banking and CNBC TV18.
  • 2010: Advanced Enzymes receives the Bio-Excellence 2010 award as the Best Industrial Biotech Company of the year by the department of IT-BT & ST, Govt. of Karnataka.
  • 2011: Advanced Enzymes expands its presence in the US with the takeover of Cal India Foods International (Specialty Enzymes and Biotechnologies) as a step down subsidiary.
  • 2012: Advanced Enzymes consolidates it presence in the US with the take over of Advanced Supplementary Technologies Corporation as a step down subsidiary.
  • 2012: Advanced Enzymes is awarded 1st runner-up as the Most Innovative Exporter by ECGC - D&B Indian Exporters' Excellence Awards 2012.
  • 2012: Phase II of fermentation facility is inaugurated at Pitampur SEZ near Indore.
  • 2012: Advanced Enzymes receives its first US patent.
  • 2013: Advanced Enzymes is ranked amongst the top 500 as part of Inc. India's fastest-growing mid-sized companies' list for 2012.
  • 2014: Advanced Enzymes has received the Bio-Excellence award for being the Best Industrial Biotech Company at Bangalore India Bio 2014 event - the premier Biotechnology event in the country.
  • 2014: Advanced Enzymes is ranked amongst the top 500 of India’s fastest-growing mid-sized companies list for 2013 by Inc. India.
  • 2016: Conducts IPO & lists itself on the Indian Stock Exchanges.
  • 2016: Acquires majority stake in JC Biotech.
  • 2017: Acquired 100% stake in a German based company evoxx technologies GmbH.
  • 2017: GRAS dossier was filed with USFDA
  • 2018: 4 food enzymes got approved as a processing aid with Food Safety Standard Authority of India (FSSAI)
  • 2018: 4 enzymes are registered with REACH –ECHA (European Chemical Agency)
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