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Analyst Meet / AGM
16-Aug-18
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Conference Call
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Advanced Enzyme Technologies
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Sees big opportunity in new palm oil products
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Advanced Enzyme Technologies conducted conference call to discuss the financial results and performance of the company for the quarter ended June 2018. Mr. C. L. Rathi - Managing Director, Mr. Piyush Rathi - Chief Business Officer and Mr. Beni Prasad Rauka - Chief Financial Officer of the company addressed the call
Highlights of the Concall
- Advanced Enzyme Technologies revenue was up 38% YoY to Rs 104.3 crore in Q1FY19 against Rs 75.6 crore in Q1FY18. US, India, Asia, Europe and Others geographies grew by 72%, 9%, 38%, 38% and 176% YoY respectively
- US contributed 51% to the top-line followed by India at 41%, Asia (ex- India) at 4% and 2% revenue contribution from Europe and 2% from Others. The company expects Europe's revenue contribution to inch up to 9% in FY19
- Revenue growth was driven by Human Nutrition which was up by 42% to Rs 78.8 crore forming 78% of total revenue while Animal Healthcare grew 23% to Rs 13.4 crore forming13% of revenue and Foods segment grew 20% o Rs 5.5 crore forming 5% of total revenue. This was partially offset by decline in Industrial Processing which fell 16% to Rs 4.1 crore forming 4% of total revenue.
- EBITDA was up 64% at Rs 48.7 crore against Rs 29.7 crore in Q1FY18. EBITDA Margin was at 47% as against 39%. Net Profit rise by 91% at Rs 31.2 crore against Rs 16.3 crore in Q1FY18
- The company expects 13-15% revenue growth in FY19 with 43-44% EBITDA margin and PAT margin of 25-26%.
- Going forward the company sees big opportunity in new palm oil products, revenue for which to start kicking in from FY20
- Benefit of reduction in tax rate in the US (from 39% to 28%) will curtail the overall tax rate to a range of 26-28%.
- Top most account contributed 16% while Top 10 clients contributed around 45% to the overall revenue
- Human Nutrition business is likely to grow in low teens in the near term
- Serratiopeptidase, top product of the company contributes ~25% to the overall revenue
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