Advanced Enzyme spurts after Nalanda India Equity Fund hikes stake

Advanced Enzyme Technologies rose 13.68 to Rs 303.40 after Nalanda India Equity Fund acquired additional 2.6% stake in the company via bulk deal on Monday, 19 September 2022.

As per the bulk deal data on the NSE, Nalanda India Equity Fund acquired additional 29,11,630 equity shares (2.6% equity) of Advanced Enzyme Technologies at an average price of Rs 270.03 per share.

Advanced Vital Enzymes sold 25,73,500 shares (2.3% equity) at an average price of Rs 270.04 per share. Both the transactions took place on Monday, 19 September 2022.

As on June 2022, Nalanda India Equity Fund held 6.23% stake in the company while Advanced Vital Enzymes held 8.90% stake.

Advanced Enzyme Technologies is a research driven company with global leadership in the manufacturing of enzymes and probiotics. The company aims to replace traditionally used chemicals with eco-friendly enzymatic solutions.

Advanced Enzyme Technologies' consolidated profit after tax de-grew by 56% to Rs 17.6 crore during Q1 FY23 compared with Rs 39.7 crore during the Q1 FY22. Revenue from operations on consolidated basis decreased to Rs 121.1 crore in the Q1 FY23 from Rs 137 crore in the Q1 FY22, declining by 12% on y-o-y basis and 8% on q-o-q basis.

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