Capitaline

Analyst Meet / AGM 05-Nov-19

Conference Call

Advanced Enzyme Technologies

Maintaining its revenue growth guidance of 10% in FY20

Advanced Enzyme Technologies held conference call to discuss the performance for the quarter ended September 2019. Mr. Mukund M. Kabra, Whole time Director of the company addressed the concall.
Highlights of the Concall

Revenue grew 8% in Q2FY20 to Rs 111.4 crore compared to Q2FY19 while Ebitda grew 12% to Rs 47.3 crore and Pat rose 23% to Rs 31.8 crore.

Higher growth in net profit was due to additional gross contribution on increased sales and lower financial cost

Animal Nutrition segment revenue was Rs 12.9 crore in Q2FY20 contributing 12% to total revenue (Rs 11.8 crore in Q2FY19-11% of total revenue) while Human Nutrition segment revenue was Rs 82.4 crore contributing 74% of total revenue (Rs 77 crore in Q2FY19- 75% of total revenue) and Industrial Bio-processing revenue was Rs 16.1 crore contributing 14% to total revenues (Rs 14.2 crore in Q2FY19-14% of total revenues)

For H1FY20 revenue grew 7% to Rs 221.8 crore compared to H1FY19 while Ebitda grew 11% to Rs 100.8 crore and Pat rose 15% to Rs 65.8 crore.

Animal Nutrition segment revenue was Rs 26.1 crore in H1FY20 contributing 12% to total revenue (Rs 25 crore in H1FY19-12% of total revenue) while Human Nutrition segment revenue was Rs 163 crore contributing 73% of total revenue (Rs 152.7 crore in H1FY19- 74% of total revenue) and Industrial Bio-processing revenue was Rs 32.4 crore contributing 15% to total revenues (Rs 29.4 crore in Q2FY19-14% of total revenues)

The company closed its Malaysian subsidiary because all its activities were driven by the parent company and it was just another setup consuming administrative and compliance expenses. So to control unwanted expenses the company closed the subsidiary. The company still continues to do all the work done there in India in any case.

The company top clients contributed to 14% of total revenues

The company is maintaining its revenue growth guidance of 10% in FY20 and 17% in bottomline despite concern in US and Indian market.

The company expects to maintain Ebitda margin of FY19 in FY20 as well at 43%

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