Advanced Enzyme Technologies Ltd Share Price – NSE  / BSE

Pharmaceuticals, Small Cap

The Board of Directors of Advanced Enzymes USA (AEU), a wholly owned subsidiary of Advanced Enzyme Technologies has accorded its approval for formation of a new corporation in California (US) to be named as Starya Labs, Inc (Starya Labs). In view of this, Starya Labs will be a step down wholly owned subsidiary of Advanced Enzyme Technologies.

Cal-India Foods International USA (SEB), a step-down wholly owned subsidiary of Advanced Enzyme Technologies and wholly owned subsidiairy of AEU to spin-off and transfer its enzyme/probiotic laboratory testing services (SEB Lab) together with certain assets and liabilities related to the said SEB Lab into Starya Labs. The said new corporation, Starya Labs will be a wholly owned subsidiary of AEU.

Powered by Capital Market - Live News

The revenue de-grew by 3% in Americas, 27% in Europe, 9% in Asia (ex-India) while it grew by 8% in rest of the world.

On the segmental front, the revenue from human nutrition segment declined by 2% YoY to Rs 99.2 crore while animal nutrition income grew by 6% YoY to Rs 18.1 crore in second quarter of FY25.

The bio-processing segment revenue slipped 33% to Rs 16.8 crore while specialized manufacturing segment rose 9% to Rs 12 crore in September 2024 quarter over September 2023 quarter.

The domestic sales constituted about 48% of revenue from operations during Q2 FY25 as compared to 52% during Q2 FY24. International sales were 52% of revenue from operations during Q2 FY25 as compared to 48% during same quarter last year.

EBITDA de-grew by 17% YoY to Rs 42.4 crore in the second quarter. EBITDA margin was 29% and PAT margin stood at 23% during the quarter.

Profit before tax was at Rs 42.21 crore during Q2 of FY25, down 11.93% YoY.

On outlook front, the company stated, “Advanced Enzymes is constantly working towards improving and strengthening its business model, and will continue to focus on all three divisions - Human Nutrition, Animal Nutrition and Bio-Processing including developing, adding and launching more products in the target market of probiotics. The company is confident that its existing capacities and capital investments would serve well to expand its enzymes and probiotics business.”

Advanced Enzyme Technologies is a research driven company with global leadership in the manufacturing of enzymes and probiotics. The company provides eco-safe solutions to a wide variety of industries like human health care and nutrition, animal nutrition, baking, fruit & vegetable processing, brewing & malting, grain processing, protein modification, dairy processing, specialty applications, textile processing and others. Its aim is to replace traditionally used chemicals with eco-friendly enzymatic solutions.

Powered by Capital Market - Live News

Net profit of Advanced Enzyme Technologies declined 4.59% to Rs 32.83 crore in the quarter ended September 2024 as against Rs 34.41 crore during the previous quarter ended September 2023. Sales declined 7.44% to Rs 146.10 crore in the quarter ended September 2024 as against Rs 157.84 crore during the previous quarter ended September 2023.

Powered by Capital Market - Live News

Advanced Enzyme Techs. will hold a meeting of the Board of Directors of the Company on 9 November 2024

Powered by Capital Market - Live News