Advanced Enzyme Tech tumbles after dismal Q2 performance

Advanced Enzyme Technologies slumped 4% to Rs 369.55 after the company reported 22% fall in consolidated net profit to Rs 30.3 crore despite a 6% rise in revenue to Rs 127.1 crore in Q2 FY22 over Q2 FY21.

On the segmental front, the human nutrition segment maintained its positive streak and grew its revenue by 4% to Rs 92 crore in Q2 FY22 as compared to Rs 88.5 crore in Q2 FY21.

The animal nutrition's revenue rose by 3% to Rs 13.6 crore in Q2 FY22 as against Rs 13.2 crore in Q2 FY21.

The bio-processing segment underperformed by 37% during the quarter, it accounted Rs 11.8 crore in Q2 FY22 as compared to Rs 18.7 crore in Q2 FY21.

The domestic sales constituted about 47% of revenue from operations during Q2 FY22 as compared to 42% during Q2 FY21. International sales were 53% of revenue from operations as compared to 58% during Q2 FY21.

EBITDA was 49.3 crore in Q2 FY22, down by 17% from Rs 62.8 crore in Q2 FY21. EBITDA margin was 39% in Q2 FY22 as against 49% in Q2 FY21.

As compared with Q1 FY22, the company's net profit and revenue have declined by 24% and 7%, respectively.

Advanced Enzyme Technologies is a specialty biotech company, with global leadership in the manufacturing of enzymes and probiotics.

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