Advanced Enzyme Technologies Ltd's Q3FY18 consolidated net profit rises 85.64% yoy to Rs26.51cr : Beats Estimates

The company’s consolidated revenue stood at Rs108.18cr, up 81.54% yoy and 9.74% qoq.

Feb 06, 2018 02:02 IST India Infoline Research Team

Advanced Enzyme Technologies Ltd Q3FY18

Consolidated Results Q3FY18: (Rs. in crore)

Q3FY18 YoY (%)
Revenue 108.18 81.5
EBITDA 45.15 143.4
EBITDA Margin (%) 41.7 1,061
Net Profit (adjusted) 26.51 85.6
***EBITDA margin change is bps
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Reco. Price

285

Last updated on

25-Jan-2018

Advanced Enzyme Technologies Limited's revenue for the quarter came in at Rs108.18cr, up by 81.5% yoy. The operating profit for Q3FY18 came in at Rs45.15cr which increased by 143.4% yoy. The EBITDA margin expanded by ~1,061bps yoy to 41.7% in Q3FY18. The net profit after tax stood at Rs26.51cr, up by 85.6% in Q3FY18. The revenue, operating profit and net profit beats street estimates by 11%, 7% and 14% respectively.

• The segmental breakup for 9MFY18 consists of human healthcare with 76% share, animal healthcare with 13% share, industrial processing with 6% share and remaining share towards food processing.
• India (~46% of 9MFY18 revenue) and USA (~46%) are the leading market areas for the company in 9M FY18.
• Human healthcare segment witnessed highest growth by 102% yoy to Rs78.5cr, followed by animal healthcare by 34% yoy to Rs14.7cr in Q3FY18.
• The employee benefits expense increased significantly by 51.9% yoy to Rs18.44cr in Q3FY18.
• The finance cost and depreciation for the quarter increased by 339.7% and 62.8% to Rs1.2cr and Rs5.3cr respectively.
• The effective tax rate for the quarter was at 32% as against 9% in Q3FY17. This resulted into lower incremental net profit increase vis-à-vis operating profit increase.

Technical View:

Advanced Enzyme Technologies Ltd is currently trading at Rs. 261, up by 14 points or 5.67% from its previous closing of Rs. 247 on the BSE.
The scrip opened at Rs. 244 and has touched a high and low of Rs. 263.55 and Rs. 222.05 respectively. So far 4,93,836(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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