Advanced Enzyme Technologies Strong Q4 Numbers & Declares Dividend

Additionally, the Board of directors recommended an interim dividend of 200% for FY24   

The broader market sentiment turned positive amid strong corporate results from good quality stocks. Nifty 500 index has surged 0.56% to trade above 15,500 levels and exhibits strong trend strength. Meanwhile, one particular stock that has witnessed strong buying interest from the investors post its robust Q4 numbers is Advanced Enzyme Technologies Ltd.   

Advanced Enzyme Technologies Ltd has reported net profit of Rs 32.12 crore for Q4FY23 as against Rs 29.43 crore from March 2022, a modest rise of 9.14% YoY. Meanwhile, income from operations rose 5% YoY to Rs 138.7 crore while EBITDA grew 9% YoY to Rs 44.10 crore. Interestingly, EBITDA margin jumped by 100 basis points to massive 32% for the quarter ended March 31, 2023. Earnings per Share (EPS) stand at Rs 2.87 as compared to Rs 2.18 in Q4FY22.    

Human Nutrition contributed the most in the segmental revenue, delivering about 66% of the total revenue, while Animal Nutrition and Bioprocessing contributed 13% and 15% of the total revenue, respectively. Specialized manufacturing added 6% of the total revenue.   

The Board declared an Interim Dividend of 200% i.e. Re. 4/- per Equity Share on the face value of Rs. 2/- each for the financial year 2023-24. It has also recommended a Final Dividend of 50% i.e. Re. 1/- per Equity Share on the face value of Rs. 2/- each for the financial year 2022-23, subject to the approval of the shareholders at the ensuing 34th Annual General Meeting of the Company.   

In the exchange filing, the company reported, “The company is constantly working towards improving and strengthening its business model and will continue to focus on all three divisions – Human Nutrition, Animal Nutrition and Bio-Processing including developing, adding and launching more products in the target market of probiotics. It is confident that its existing capacities and capital investments would serve well to expand its enzymes and probiotics business.”    

ADVENZYMES share price hit the day’s high of Rs 306 on the exchanges and is up 5% intraday on May 15, 2023.