Advanced Enzyme Tech stock slumps 5% after Q3 PAT declines 35% yoy at Rs28.6cr

7 Feb 2022 , 09:51 AM

Advanced Enzyme Technologies Limited, a leading specialty biotech company, with global leadership in the manufacturing of enzymes, on Saturday, announced their unaudited financial results for the third quarter and nine-month ended December 2021.

Revenue from operations on a consolidated basis decreased to Rs133.6cr in the Q3FY22 from Rs137.7cr in the Q3FY21, showcasing a slight decline of 3%. Consolidated EBITDA during Q3FY22 stands at Rs49.1cr as compared to Rs66.4cr during Q3 FY21, a decrease of 26%.

Profit before tax stands at Rs41.2cr during Q3FY22 as against Rs60.9cr in Q3FY21, a decline of 32%. Profit after tax de-grew by 35% and stands at Rs28.6cr during Q3FY22 as compared to Rs44.3cr during Q3FY21.

EBITDA margin stands at 37%, PBT margin stands at 31% and PAT margin stands at 21% during the quarter. Financial costs stood at Rs3 million, remain unchanged during the during Q3FY22 on yoy basis. Depreciation and Amortization charge for the Q3FY22 is Rs8.8cr as compared to Rs6.5cr in the same quarter the previous year. Earnings Per Share during Q3FY22 stands at Rs2.46 as compared to Rs3.86 in Q3FY21.

At around 9.56 am, Advanced Enzyme Technologies Ltd was trading at Rs321.80 per piece down by Rs18.65 or 5.48% from its previous closing of Rs340.45 per piece on the BSE.

Segmental Revenue:

The total revenue from operations marginally de-grew by 3% on yoy basis while it grew 5% on qoq basis.
The human nutrition segment de-grew by 16% to Rs91.8cr in Q3FY22 as compared to Rs108.9cr in Q3FY21.
The Animal nutrition delivered a strong growth of 26 % to Rs13.2cr in Q3FY22 as against Rs10.5cr in Q3FY21.

The Bio-Processing segment underperformed by 13% during the quarter, it accounted 160 million in Q3FY22 as compared to Rs183 million in Q3 FY21. In this segment, food business contributed 9% and stood at Rs115 million, a decline of 5% while the Non-Food business contributed 3% and stood at Rs44 million a decline of 27% on yoy basis, during the quarter.

The Specialized manufacturing segment contributed 9% in the pie which Rs125 million to the revenue during the quarter.

The total revenue comprises of International sales amounting to Rs764 million in Q3FY22 as compared to Rs660 million in Q3FY21, a jump of 16%. The revenue grew by 4% in Americas, while it grew by 2% in Europe and strong 264% in Asia (ex-India). The rest of the world registered a growth of 88%.

Domestic sales accounted for Rs571 million in Q3FY22 as compared to Rs717 million in Q3FY21, it underperformed by 20%.

The domestic sales constituted about 43% of revenue from operations during Q3FY22 as compared to 52% during Q3FY21. International sales were 57% of revenue from operations during Q3FY22 as compared to 48% during Q3FY21.