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Results
09-Nov-24
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Analysis
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Advanced Enzyme Technologies
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OP down 17%
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Net sales
(including other operating income) of Advanced Enzyme Technologies has declined
7.44% to Rs 146.1 crore. The total
revenue from operations de-grew by 7% on y-o-y basis and 5% on q-o-q basis. The
revenue from human nutrition segment decreased by 6% to Rs 99.2 crore in Q2
FY25 as compared to Rs 105.9 crore in Q2 FY24. The Animal nutrition delivered a
growth of 5% to Rs 18.1 crore in Q2 FY25 as against Rs 17.3 crore in Q2 FY24.
The Bio-Processing segment underperformed by 31% during the quarter, it accounted
for Rs 16.8 crore in Q2 FY25 as compared to Rs 24.3 crore in Q2 FY24. In this
segment, food business de-grew by 42% to Rs 11.6 crore on y-o-y basis during Q2
FY25. The Non-Food business grew by 24% to stood at Rs 5.1 crore during thequarter. The Specialized manufacturing segment contributed 8% in the pie which
is around Rs 12 crore to the revenue during the quarter, an increase of 17% on
y-o-y basis.
The total
revenue comprises of International sales amounting to Rs 75.8 crore in Q2 FY25
as compared to Rs 75 crore in Q2 FY24, an increase of 1%. The revenue increased
by 21% in Americas while there is de-growth of 35% in Europe, 25% in Asia
(ex-India) and 49% in the rest of the world. Domestic sales accounted for Rs
70.3 crore in Q2 FY25 as compared to Rs 82.8 crore in Q2 FY24, a de-growth of
15%. The domestic sales constituted about 48% of revenue from operations during
Q2 FY25 as compared to 52% during Q2 FY24. International sales were 52% of
revenue from operations during Q2 FY25 as compared to 48% during Q2 FY24.
Operating
profit margin has declined from 32.51% to 29.03%, leading to 17.33% decline in
operating profit to Rs 42.42 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
19.82% to 25.61%. Employee cost
increased from 21.02% to 23.30%. Other
expenses fell from 25.11% to 23.27%.
Other
income rose 57.70% to Rs 9.62 crore.
PBIDT fell 9.35% to Rs 52.04 crore.
Provision for interest rose 24% to Rs 0.93 crore. Loan funds rose to Rs 46.92 crore as of 30
September 2024 from Rs 38.86 crore as of 30 September 2023. Inventories rose to Rs 168.41 crore as of 30
September 2024 from Rs 135.63 crore as of 30 September 2023. Sundry debtors were lower at Rs 98.76 crore
as of 30 September 2024 compared to Rs 112.00 crore as of 30 September
2023. Cash and bank balance declined
from Rs 126.04 crore as of 30 September 2023 to Rs 111.27 crore as of 30
September 2024. Investments rose to Rs
395.89 crore as of 30 September 2024 from Rs 342.00 crore as of 30 September
2023 .
PBDT fell
9.80% to Rs 51.11 crore. Provision for
depreciation rose 1.95% to Rs 8.9 crore.
Fixed assets increased to Rs 371.40 crore as of 30 September 2024 from
Rs 289.91 crore as of 30 September 2023.
Intangible assets declined from Rs 380.12 crore to Rs 327.75 crore.
Profit
before tax down 11.93% to Rs 42.21 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 8.82
crore, compared to Rs 12.73 crore.
Effective tax rate was 20.90% compared to 26.56%.
Minority
interest decreased 29.11% to Rs 0.56 crore.
Net profit attributable to owners of the company decreased 4.59% to Rs
32.83 crore.
Equity
capital stood at Rs 22.37 crore as of 30 September 2024 to Rs 22.37 crore as of
30 September 2023. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 42.95% as of 30 September 2024 ,compared to 45.92% as of 30 September
2023 .
For year-to-date (YTD) results
analysis
Net sales
(including other operating income) of Advanced Enzyme Technologies has declined
1.47% to Rs 300.62 crore. The human
nutrition segment underperformed by 2% to Rs 200.3 crore in H1 FY25 as compared
to Rs 205.4 crore in H1 FY24. The Animal nutrition outperformed by 7% to Rs
35.3 crore in H1 FY25 as against Rs 33.1 crore in H1 FY24. The Bio-Processing
segment de-grew by 10% during the first half, it accounted for Rs 41.9 crore in
H1 FY25 as compared to Rs 46.6 crore in H1FY24. In this segment, food business
contributed 10% and stood at Rs 31.2 crore while the Non-Food business
contributed 4% and stood at Rs 10.7 crore delivering a de-growth of 19% &
growth of 33% respectively, during H1 FY25. The specialized manufacturing
segment contributed 7% to the revenue stream. This segment grew by 15% to stood
at Rs 23 crore to the revenue during H1 FY25.
The total
revenue comprises of International sales amounting to Rs 156.4 crore in H1 FY25
as compared to Rs 148.6 crore in H1 FY24, growth of 5%. The revenue inclined by
24% in Americas while declined by 14% in Europe, 16% in Asia (ex-India) and 58%
in rest of the world. Domestic sales accounted for Rs 144.2 crore in H1 FY25 as
compared to Rs 156.5 crore in H1 FY24, decrease of 8%. The domestic sales
constituted about 48% of the revenue from operations during H1 FY25 as compared
to 51% during H1 FY24. International sales were 52% of revenue from operations
as compared to 49% during H1 FY24.
Operating
profit margin has declined from 31.24% to 31.13%, leading to 1.84% decline in
operating profit to Rs 93.58 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
24.63% to 25.33%. Employee cost
increased from 20.79% to 22.43%. Other
expenses fell from 23.48% to 22.34%.
Other
income rose 30.07% to Rs 16.61 crore.
PBIDT rose 1.93% to Rs 110.19 crore.
Provision for interest rose 28.57% to Rs 1.8 crore. Loan funds rose to Rs 46.92 crore as of 30
September 2024 from Rs 38.86 crore as of 30 September 2023. Inventories rose to Rs 168.41 crore as of 30
September 2024 from Rs 135.63 crore as of 30 September 2023. Sundry debtors were lower at Rs 98.76 crore
as of 30 September 2024 compared to Rs 112.00 crore as of 30 September
2023. Cash and bank balance declined
from Rs 126.04 crore as of 30 September 2023 to Rs 111.27 crore as of 30
September 2024. Investments rose to Rs
395.89 crore as of 30 September 2024 from Rs 342.00 crore as of 30 September
2023 .
PBDT rose
1.58% to Rs 108.39 crore. Provision for
depreciation rose 0.86% to Rs 17.51 crore.
Fixed assets increased to Rs 371.40 crore as of 30 September 2024 from
Rs 289.91 crore as of 30 September 2023.
Intangible assets declined from Rs 380.12 crore to Rs 327.75 crore.
Profit
before tax grew 1.72% to Rs 90.88 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 22.51
crore, compared to Rs 24.76 crore.
Effective tax rate was 24.77% compared to 27.71%.
Minority
interest increased 1.47% to Rs 1.38 crore.
Net profit attributable to owners of the company increased 5.96% to Rs
66.99 crore.
Equity
capital stood at Rs 22.37 crore as of 30 September 2024 to Rs 22.37 crore as of
30 September 2023. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 42.95% as of 30 September 2024 ,compared to 45.92% as of 30 September
2023 .
Cash flow
from operating activities increased to Rs 42.96 crore for YTD ended September
2024 from Rs 42.10 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets
during the YTD ended September 2024 stood at Rs 21.35 crore, compared to Rs
16.89 crore during the YTD ended September 2023. The stock
trades at Rs 485
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Advanced
Enzyme Technologies : Consolidated Results
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Particulars
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2409
(03)
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2309
(03)
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Var.(%)
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2409
(06)
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2309
(06)
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Var.(%)
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2403
(12)
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2303
(12)
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Var.(%)
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Net Sales
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146.1
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157.84
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-7
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300.62
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305.12
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-1
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623.87
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540.64
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15
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OPM (%)
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29.0
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32.5
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31.1
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31.2
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32.8
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28.9
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OP
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42.42
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51.31
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-17
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93.58
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95.33
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-2
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204.47
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156.44
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31
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Other Inc.
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9.62
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6.1
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58
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16.61
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12.77
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30
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36.66
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25.46
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44
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PBIDT
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52.04
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57.41
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-9
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110.19
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108.1
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2
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241.13
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181.9
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33
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Interest
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0.93
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0.75
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24
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1.8
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1.4
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29
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2.93
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2.42
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21
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PBDT
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51.11
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56.66
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-10
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108.39
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106.7
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2
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238.2
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179.48
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33
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Depreciation
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8.9
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8.73
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2
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17.51
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17.36
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1
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35.24
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35.03
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1
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PBT
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42.21
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47.93
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-12
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90.88
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89.34
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2
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202.96
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144.45
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41
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Share of
Profit/(Loss) from Associates
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0
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0
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0
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0
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0
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0
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-
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PBT before
EO
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42.21
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47.93
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-12
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90.88
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89.34
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2
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202.96
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144.45
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41
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EO Income
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0
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0
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0
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0
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-15.13
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-4.06
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-273
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PBT after
EO
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42.21
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47.93
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-12
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90.88
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89.34
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2
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187.83
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140.39
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34
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Taxation
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8.82
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12.73
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-31
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22.51
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24.76
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-9
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50.87
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36.52
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39
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PAT
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33.39
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35.2
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-5
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68.37
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64.58
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6
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136.96
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103.87
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32
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Minority
Interest (MI)
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0.56
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0.79
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-29
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1.38
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1.36
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1
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3.65
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-1.77
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PL
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Net profit
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32.83
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34.41
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-5
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66.99
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63.22
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6
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133.31
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105.64
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26
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EPS (Rs)*
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#
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#
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#
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#
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12.9
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9.7
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Notes
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* EPS is on
current equity of Rs 22.365 crore, Face value of Rs 2, Excluding
extraordinary items.
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# EPS is
not annualised
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bps : Basis
points
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EO :
Extraordinary items
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Figures in
Rs crore
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Source:
Capitaline Corporate Database
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Previous News |
Advanced Enzymes Technologies
(
Analyst Meet / AGM
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Conference Call
13-Nov-24
19:00
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Advanced Enzyme Technologies Ltd Spurts 2.63%
(
Hot Pursuit
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04-Jan-23
09:30
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(
Corporate News
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13-May-22
15:53
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05-Feb-22
14:33
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(
Corporate News
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07-Nov-22
12:06
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Advanced Enzyme Technologies standalone net profit declines 58.06% in the June 2022 quarter
(
Results
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Announcements
06-Aug-22
11:55
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(
Results
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Announcements
06-Aug-22
12:28
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Outcome of board meeting of Advanced Enzyme Technologies
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11-Nov-22
14:53
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Advanced Enzyme Techs. announces board meeting date
(
Corporate News
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08-Aug-23
19:29
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Advanced Enzyme Techs. announces board meeting date
(
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02-Aug-21
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