Other income fell 8.70% to Rs 1.68 crore. Provision for interest fell 37.68% to Rs 0.43 crore. Provision for depreciation rose 26.17% to Rs 8.39 crore.

Profit before tax grew 10.58% to Rs 47.77 crore. Provision for tax was expense of Rs 13.97 crore, compared to Rs 10.52 crore. Effective tax rate was 29.24% compared to 24.35%.

Minority interest increased 57.04% to Rs 2.12 crore. Net profit attributable to owners of the company increased 1.12% to Rs 31.68 crore.

Performance for the year ended Mar'21

Net sales (including other operating income) of Advanced Enzyme Technologies has increased 13.03% to Rs 501.84 crore. Operating profit margin has jumped from 45.57% to 46.14%, leading to 14.43% rise in operating profit to Rs 231.53 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 19.96% to 19.92%. Purchase of finished goods cost fell from 0.05% to 0.01%. Employee cost decreased from 17.67% to 17.32%. Other expenses fell from 17.75% to 16.73%.

Other income rose 56.91% to Rs 8.85 crore. Provision for interest fell 47.70% to Rs 1.59 crore. Loan funds declined from Rs 24.72 crore as of 31 March 2020 to Rs 18.13 crore as of 31 March 2021. Inventories rose to Rs 93.88 crore as of 31 March 2021 from Rs 80.03 crore as of 31 March 2020. Sundry debtors were higher at Rs 86.27 crore as of 31 March 2021 compared to Rs 74.69 crore as of 31 March 2020. Cash and bank balance rose to Rs 197.77 crore as of 31 March 2021 from Rs 83.02 crore as of 31 March 2020. Investments declined from Rs 123.59 crore as of 31 March 2020 to Rs 121.38 crore as of 31 March 2021.

Provision for depreciation rose 10.20% to Rs 28.41 crore. Fixed assets declined from Rs 278.88 crore as of 31 March 2020 to Rs 243.24 crore as of 31 March 2021. Intangible assets increased from Rs 294.13 crore to Rs 367.93 crore.

Profit before tax grew 17.43% to Rs 210.38 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 58.91 crore, compared to Rs 46.11 crore. Effective tax rate was 28.00% compared to 25.74%.

Minority interest increased 40.16% to Rs 5.27 crore. Net profit attributable to owners of the company increased 13.08% to Rs 146.20 crore.

Promoters' stake was 55.38% as of 31 March 2021 compared to 57.88% as of 31 March 2020.

Cash flow from operating activities increased to Rs 162.89 crore for year ended March 2021 from Rs 140.90 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 19.58 crore, compared to Rs 50.65 crore during the year ended March 2020.

The company has recommended a dividend @ 45% i.e. Rs. 0.90/- per equity share on the face value of Rs. 2/- each for the financial year ended March 31, 2021, subject to the approval of the shareholders

The company has approved the acquisition of additional stake of 15% of equity share capital of JC Biotech Private Limited (70% subsidiary of the Company) (JCB) by way of purchase of 31,06,680 equity Shares from the existing shareholder(s) of JCB for a consideration of Rs 21.125 crore i.e. Rs. 68 per equity share. On completion of the said investment, the shareholding of the company in JCB will increase from 70% to 85%.

On 11 January 2021, the Group completed the acquisition of 51% of the paid up equity share capital in SciTech Specialties Private Limited ('SSPL') for a total consideration of Rs 31.626 crore. SSPL is technology based contract manufacturing company specialising in effervescent granules and tablets. The figures for the three months and year ended 31 March 2021, which includes figures for SSPL from the period 11 Jan 2021 to 31 March 2021, are not comparable with the previous corresponding periods.

The scrip is currently trading at Rs 437