Advanced Enzyme Technologies Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 13.50 18.90 12 31.70
Op profit growth 23.40 8.72 9.63 52
EBIT growth 23.90 4.57 8.06 54.80
Net profit growth 43.60 (1.60) 20.70 48.80
Profitability ratios (%)        
OPM 45.60 41.90 45.80 46.80
EBIT margin 41 37.60 42.70 44.30
Net profit margin 29.10 23 27.80 25.80
RoCE 22.70 23.90 29.30 34.80
RoNW 4.62 4.40 6.17 7.77
RoA 4.02 3.65 4.76 5.07
Per share ratios ()        
EPS 11.90 8.38 41.60 34.90
Dividend per share 0.60 0.50 0.40 1
Cash EPS 9.27 6.43 35.30 30.80
Book value per share 75.20 50.10 208 128
Valuation ratios        
P/E 12 25.40 9.90 --
P/CEPS 15.40 33.10 11.70 --
P/B 1.90 4.25 1.98 --
EV/EBIDTA 7.45 14.40 30.30 --
Payout (%)        
Dividend payout -- 6.20 4.88 3.94
Tax payout (26) (33) (32) (34)
Liquidity ratios        
Debtor days 54.80 50.60 50.80 49
Inventory days 64 67.20 71.50 70.30
Creditor days (22) (24) (24) (27)
Leverage ratios        
Interest coverage (60) (18) (39) (17)
Net debt / equity (0.10) 0.01 0.10 0.27
Net debt / op. profit (0.20) 0.03 0.31 0.55
Cost breakup ()        
Material costs (18) (21) (22) (21)
Employee costs (18) (18) (15) (15)
Other costs (18) (20) (17) (17)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 444 391 329 294
yoy growth (%) 13.50 18.90 12 31.70
Raw materials (81) (81) (71) (62)
As % of sales 18.20 20.80 21.60 21
Employee costs (80) (69) (51) (45)
As % of sales 18.10 17.50 15.40 15.10
Other costs (81) (77) (56) (50)
As % of sales 18.10 19.70 17.20 17
Operating profit 202 164 151 138
OPM 45.60 41.90 45.80 46.80
Depreciation (26) (18) (13) (8.70)
Interest expense (3) (8.10) (3.60) (7.90)
Other income 5.64 1.39 2.58 1.29
Profit before tax 179 139 137 122
Taxes (46) (45) (44) (41)
Tax rate (26) (33) (32) (34)
Minorities and other (3.80) (3.50) (1.40) (0.90)
Adj. profit 129 90.10 91.50 79.90
Exceptional items -- -- -- (4.10)
Net profit 129 90.10 91.50 75.90
yoy growth (%) 43.60 (1.60) 20.70 48.80
NPM 29.10 23 27.80 25.80
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 179 139 137 122
Depreciation (26) (18) (13) (8.70)
Tax paid (46) (45) (44) (41)
Working capital 171 123 19.50 (19)
Other operating items -- -- -- --
Operating cashflow 278 198 99.70 52.60
Capital expenditure 394 277 86.80 (87)
Free cash flow 672 475 186 (34)
Equity raised 833 641 612 624
Investments 124 0.01 0.01 --
Debt financing/disposal (36) 38.60 (37) 66.30
Dividends paid -- 5.58 4.47 2.18
Other items -- -- -- --
Net in cash 1,593 1,160 765 658
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 22.30 22.30 22.30 22.30
Preference capital -- -- -- --
Reserves 817 657 537 442
Net worth 840 679 559 464
Minority interest
Debt 33.40 35 66.80 54.10
Deferred tax liabilities (net) 32.90 28.20 26.10 18.30
Total liabilities 934 768 675 558
Fixed assets 573 506 502 429
Intangible assets
Investments 124 111 0.07 0.07
Deferred tax asset (net) 7.42 5.91 4.24 6.34
Net working capital 147 122 107 114
Inventories 80 76.90 75.60 68.50
Inventory Days 65.80 -- 70.50 76
Sundry debtors 74.70 58.70 58.60 49.80
Debtor days 61.40 -- 54.70 55.30
Other current assets 36.90 29.10 29.90 27
Sundry creditors (11) (11) (18) (12)
Creditor days 8.79 -- 17 12.80
Other current liabilities (34) (32) (39) (20)
Cash 83 23.40 61.40 7.87
Total assets 934 768 675 558
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 444 420 396 343 304
Excise Duty -- -- 4.68 14.10 10.70
Net Sales 444 420 391 329 294
Other Operating Income -- -- -- -- --
Other Income 5.64 5.04 1.39 2.58 1.29
Total Income 450 425 392 332 295
Total Expenditure ** 242 238 227 178 160
PBIDT 208 187 165 153 135
Interest 3.04 3.87 8.09 3.58 7.86
PBDT 205 183 157 150 127
Depreciation 25.80 21.10 18.30 12.80 8.72
Minority Interest Before NP -- -- -- -- --
Tax 50.30 48 46.20 44.70 34.50
Deferred Tax (4.20) (2) (0.80) (0.60) 6.95
Reported Profit After Tax 133 116 93.60 92.90 76.80
Minority Interest After NP 3.76 4.84 3.50 1.40 0.90
Net Profit after Minority Interest 129 111 90.10 91.60 75.90
Extra-ordinary Items -- -- -- -- (2.70)
Adjusted Profit After Extra-ordinary item 129 111 90.10 91.60 78.50
EPS (Unit Curr.) 11.60 9.95 8.07 41 34.90
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 30 30 25 20 10
Equity 22.30 22.30 22.30 22.30 21.80
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 46.80 44.60 42.30 46.60 45.90
PBDTM(%) 46.20 43.60 40.20 45.50 43.20
PATM(%) 30 27.60 23.90 28.30 26.10