Advanced Enzyme Technologies Ltd. share price target

It has seven manufacturing and six R&D facilities, which consist of three integrated fermentations, recovery & formulation facilities, one extraction and recovery facility and one satellite blending, mixing & formulation facility Q3FY22 Results: Margin pressure due to logistics challenge and high raw material cost continues to weigh on numbers....

AET remains a marginal player in the global enzymes landscape that is estimated at ~US$10 billion and poised to grow at 6-7% CAGR as more applications across usage industries incorporate enzymatic technologies It has got proven capabilities and stable financials, thanks to a mix of organic and inorganic growth strategy employed by management Going ahead, AET plans to augment its R&D; capability that bodes well in the long run in its quest to improve scalability & foraying into complex enzymes...

Target Price and Valuation: We value AET at | 480 i.e. 26x P/E on FY23E EPS. AET remains a marginal player in the global enzymes landscape that is estimated at ~US$10 billion and poised to grow at 6-7% CAGR as more...

Globally, growth of the enzymes market piggybacks on a diverse spectrum of customer base. This, together with limited number of meaningful players, has created a conducive business environment for existing players in the space. Note that enzymes as cost to percentage of sales is not material, yet its efficacy is very important to end product including constituency of the end product in terms of its taste, appearance, aroma and, thus, quality perception of products leading to significant supplier stickiness. With a revenue bandwidth of just | 440 crore (~US$60 million) AET remains a...

Globally, growth of the enzymes market piggybacks on a diverse spectrum of customer base. This, together with limited number of meaningful players, has created a conducive business environment for existing players in the space. Note that enzymes as cost to percentage of sales is not material, yet its efficacy is very important to end product including constituency of the end product in terms of its taste, appearance, aroma and, thus, quality perception of the products leading to significant supplier stickiness. With a revenue bandwidth of just | 440 crore (~US$60 million) AET remains a...

ADVENZY delivered topline growth of 8% yoy to Rs1.11bn in Q2FY20, largely in line with our estimates. EBITDA margins improved by 158bps yoy to 42.4% due to better operational efficiencies. PAT increased by 25% yoy to Rs310mn. On the segmental front, Human Healthcare grew 7% yoy, Animal HealthCare rose 9% yoy and Bio processing clocked 13% yoy growth. On the geographical front, Europe and India have done well with 51% and 14% yoy growth, respectively. its clients amid a weak economy. However, it remains confident of achieving ~10% yoy revenue growth and EBITDA margins in the range of 41-45% for FY20....

Advanced Enzymes' (ADVENZY) Q4FY18 results were in line with our estimate. Revenue stood at Rs1.08bn, up 26% yoy (Emkay Est: Rs1.08bn). US, India, Asia, Europe and Others geographies grew by 36%, 7%, 281%, 27% and 154% yoy, respectively. Revenue growth was driven by Human Nutrition (+36% yoy | 76% of revenue), Industrial Processing (+27% yoy | 5% of Rev.) and Animal Healthcare (5% yoy | 14% of Rev);...

We met the management of Advanced Enzyme Technologies (AET) to understand its business model and future prospects. AET is one of the largest research driven Indian enzyme companies with more than two decades of experience in the fermentation process for producing enzymes. It is engaged in the R&D;, manufacturing and marketing of more than 400 proprietary enzyme products developed from 68+ indigenous enzymes operating in two primary business verticals viz. 1) healthcare and nutrition: human (72% of revenue) animal (15%) and 2) bioprocessing: food (7%) and non-food (6%). It offers these products to...

Company Update

Advanced Enzyme Technologies Ltd (AETL) is the largest Indian enzyme company, engaged in
the research and development, manufacturing and marketing of 400+ proprietary products
developed from 60 indigenous enzymes. AETL ranks among the top 15 global companies in
terms of enzyme sales, and has the second highest market share domestically, next only to the
world’s largest enzyme company Novozymes and operates in two primary business verticals
namely Healthcare & Nutrition (human and animal) and Bio-Processing (food and non-food). It
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 its customers to develop superior
products and processes.

 

Advanced Enzyme Technologies (AET) is one of the largest research driven Indian enzyme companies with more than two decades of experience in the fermentation process for production of enzymes. It is engaged in R&D, manufacturing and marketing of more than 400 proprietary enzyme products developed from 60 indigenous enzymes operating in two primary business verticals namely healthcare and nutrition (human and animal) and bio-processing (food and non-food). It offers these products to a global clientele of more than 700 customers across 50 countries worldwide. The company manufactures enzymes by using all four existing natural origins viz. plant, fungal, bacterial and animal sources, using environment-friendly biotechnology processes.At the IPO price band of | 880-896, the stock is available at 25.5-29.6x of FY16 EPS of | 35.1-29.6.

Advanced Enzyme Technologies (AET) is the second largest enzyme company in India and amongst the Top 15 global enzyme companies with a market share of ~0.9%. The company is engaged in research & development, manufacturing and marketing of 400+ proprietary products developed from 60 indigenous enzymes. Specialized business with high en..

It has fully integrated enzyme manufacturing company driven by extensive focus on R&D; of various enzymes, enzyme blends, enzyme products and customized enzyme solutions. Company's experienced and qualified R&D; team consists of more than 55 members comprising of scientists, microbiologists, engineers, food technologists, biotechnologists...

Advanced Enzyme Technologies Ltd is engaged in the research and development, manufacturing and marketing of 400+ proprietary products developed from 60 indigenous enzymes. The company has the second highest market share domestically, next only to the world's largest enzyme company Novozymes. It 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. Advanced Enzyme has two primary business verticals namely Healthcare & Nutrition (human and animal) and Bio-Processing (food and non-food). Healthcare & Nutrition segment contributes to nearly 88% of revenues as of FY16 and the core focus of the management lies here. In human Healthcare & Nutrition, the company's enzymes are used as active...