Advanced Enzyme Technologies Ltd · NSE:ADVENZYMES
Advanced Enzyme Technologies — Q4 FY22 Earnings Presentation
30 slides from Advanced Enzyme Technologies's earnings presentation, May 20, 2022
Slide 1: Advanced Enzyme Technologies Limited Earnings Presentation May 2022
ADVANCED ENZYME TECHNOLOGIES LIMITED Earnings Presentation May 2022
Slide 2: Safe Harbour Statement
Safe Harbour Statement This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Forward-looking statements are other than statements of historical facts. The words “believe,” “expect,” “an
Slide 3: Table of Content
Table of Content Result Summary 04 Segmental Performance 07 Geographical Performance 11 3 Historical Performance 14 Industry/Opportunity Size 22 Unique Investment Case 24 Focus Area Going Ahead 28 Shareholders’ Information 29
Slide 4: Results Summary – Q4 FY22 (Consolidated) Y-o-Y
Results Summary – Q4 FY22 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 01% 1,332 1,317 550 336 403 253 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 • Revenue de-grew by 01% on y-o-y basis to ₹ 1,317 million in the Q4 FY22 from ₹ 1,332 million in the Q4 FY21 • EBITDA declined by 2
Slide 5: Results Summary – Q4 FY22 (Consolidated) Q-o-Q
Results Summary – Q4 FY22 (Consolidated) Q-o-Q *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 01% 1,336 491 1,317 286 403 253 Q3 FY22 Q4 FY22 Q3 FY22 Q4 FY22 Q3 FY22 Q4 FY22 • Revenue de-grew by 01% on Q-o-Q basis to ₹ 1,317 million in the Q4 FY22 from ₹ 1,336 million in the Q3 FY22 • EBITDA declined by 1
Slide 6: Results Summary – FY22 (Consolidated) Y-o-Y
Results Summary – FY22 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 5,294 2,316 5,018 1,513 2,014 1,238 FY21 FY22 FY21 FY22 FY21 FY22 • Revenue grew by 6% on y-o-y basis to ₹ 5,294 million in FY22 from ₹ 5,018 million in FY21 • EBITDA de-grew by 13% to ₹ 2,014 million in the FY22 as
Slide 7: Human Nutrition
Human Nutrition (₹ in Million) Q4 FY22 Commentary: • The human nutrition segment contributed around 66% -07% Q4 FY22 865 during the quarter in the total revenue from operations Q4 FY21 925 66% • This segment de-grew by 7% during the quarter from ₹ 925 million in Q4 FY21 to ₹ 865 million in Q4 FY22 o
Slide 8: Animal Nutrition
Animal Nutrition (₹ in Million) Q4 FY22 Commentary: • The Animal nutrition segment contributed about 12% +16% Q4 FY22 152 during the quarter in the total revenue from operations Q4 FY21 131 12% • This segment grew by 16% on y-o-y basis to ₹ 152 million in Q4 FY22 as against ₹ 131 million in Q4 FY21,
Slide 9: Industrial Bio-Processing
Industrial Bio-Processing (₹ in Million) -04% -01% Q4 FY22 188 FY22 669 Q4 FY21 197 FY21 678 Commentary of Q4 FY22 : • The Industrial Bio-Processing segment contributed about 14% during the quarter in the total Q4 FY22 revenue from operations which was 15% during the same quarter last year • This se
Slide 10: Specialized Manufacturing
Specialized Manufacturing (₹ in Million) The Specialized manufacturing segment is newly added to the revenue stream as synergy from the Q4 FY22 acquisition of SciTech Specialties (SSPL) +42% Q4 FY22 113 In Specialized manufacturing, we manufacture products based on Q4 FY21 79 9% effervescent technol
Slide 11: Geographical Performance
Geographical Performance (₹ in Million) India Americas Europe Asia* Rest of the World 45% 39% 06% 06% 04% Q4 FY22 +02% -07% -43% +66% +252% Q4 FY22 596 Q4 FY22 512 Q4 FY22 75 Q4 FY22 85 Q4 FY22 49 Q4 FY21 585 Q4 FY21 550 Q4 FY21 131 Q4 FY21 51 Q4 FY21 14 44% 40% 06% 07% 03% +01% +01% -01% +82% +97%
Slide 12: Profit & Loss (Consolidated) – Q4 FY22 & FY22
Profit & Loss (Consolidated) – Q4 FY22 & FY22 (₹ in Million) Q4 FY22 Q3 FY22 Q4 FY21 FY22 FY21 Particulars Y-o-Y (%) Y-o-Y (%) Audited Un-Audited Audited Audited Audited Income from Operations 1,317 1,336 1,332 -1% 5,294 5,018 6% Expenses (Ex. Finance cost) 1,005 933 870 15% 3,629 2,989 21% Profit f
Slide 13: Balance Sheet (Consolidated) – FY22
Balance Sheet (Consolidated) – FY22 (₹ in Million) FY22 FY21 FY20 Particulars Audited Audited Audited ASSETS Property, plant and equipment 2,622 2,462 2,096 Capital work-in-progress 151 102 101 Intangible assets 609 693 592 Goodwill 2,961 2,887 2,941 Other non-current assets 289 258 251 Current asse
Slide 14: Strong Financial Performance – FY22
Strong Financial Performance – FY22 (₹ in Million) Revenue from Operations EBIDTA & EBIDTA Margin (%) 5,294 46% 46% 5,018 2,500 42% 43% 50% 4,196 4,440 38% 45% 3,957 2,000 40% 35% CAGR 1,500 30% CAGR 7.55% 5.05% 25% 1,000 20% 15% 500 10% 1,654 1,819 2,023 2,316 2,014 5% 0 0% FY 18 FY 19 FY 20 FY 21
Slide 15: Strong Financial Performance – FY22
Strong Financial Performance – FY22 Net Working Capital (Days) Net Worth (₹ mn) 132 10,886 116 120 108 9,709 105 8,397 6,788 5,591 FY 18 FY 19 FY 20 FY 21 FY 22 FY 18 FY 19 FY 20 FY 21 FY 22 ROE (%) & ROCE (%) Net Debt to Equity (x) 25.47% 0.12 24.00% 22.44% 21.94% 15.93% 18.29% 18.72% 17.52% 0.05 1
Slide 16: Annexure
Annexure Earnings Presentation | Q4 FY22 16
Slide 17: Company Overview
Company Overview Advanced Enzymes is a research driven company with global leadership in the manufacturing of enzymes and probiotics. We are committed to providing eco-safe solutions to a wide variety of industries like human health care and nutrition, animal nutrition, baking, fruit & vegetable pro
Slide 18: Advanced Enzyme Technologies Limited – A Rising Global Star
Advanced Enzyme Technologies Limited – A Rising Global Star } 9 Manufacturing Units India - 7 USA - 2 7 R&D Units India – 5 | USA – 1 | Germany –1 68+ 400+ 700+ 45+ 750+ Enzymes Proprietary Customers Countries Employees & Probiotics Products Worldwide Worldwide Presence 1st Indian enzyme company 2nd
Slide 19: Brief History and Evolution
Brief History and Evolution 2012 • Equity investment by 2017 Kotak Private Equity* • Acquired 100% stake 2005 Advanced • Takeover of Advance in evoxx 2021 1985 Biochemicals Ltd. is Supplementary technologies GmbH, Acquired 51% stake in Cal-India Foods 1994 renamed as Advanced Technologies Germany Sc
Slide 20: Board of Directors
Board of Directors Mr. Vasant Rathi Mr. Mukund M. Kabra Mr. Kedar Desai Mr. Rajesh Sharma Chairman and Non-Executive Director Whole-time Director Independent Director Independent Director Mr. Pramod Kasat Ms. Rasika Rathi Mr. Vinod Jajoo Mr. Sunny Sharma Independent Director Non-Executive Director I
Slide 21: Management Team
Management Team Mr. Beni Prasad Rauka Mr. Dipak Roda Mr. Harshad Doshi Ms. Martina Doering Chief Financial Officer Vice President / Market & Business CFO & COO - Advanced Enzymes, USA Managing Director /Head Of Business Development Development - Evoxx Technologies, Germany Ms. Rasika Rathi Dr. Micha
Slide 22: How Big is the Opportunity?
How Big is the Opportunity? Global Probiotics Market Global Enzymes Market $4Bn 9% Grow at a $10.2Bn $4.55Bn CAGR 3.5% $6Bn till 2025 13% $38Bn 78% $48Bn $3.57Bn Grow at a CAGR 7.4% till 2025 Animal Feed Dietary Supplements Functional Food & Beverages $1.02Bn $300Mn $60Mn Competitive Scenario in the
Slide 23: What we are Aiming in the Opportunity?
What we are Aiming in the Opportunity? Opportunity Addressable market for AETL AETL’s Current Share of Revenue Focus Area Size over next 5 years** FY22 FY21 Human $ 400 mn $ 200 mn $ 41 mn, 58% $ 39 mn, 57% Nutrition Bio-catalysis $ 60 mn $ 30 mn* $ 2.5 mn, 4% $ 2.2 mn, 3% Baking $ 300 mn $ 30 mn $
Slide 24: What Makes AETL a Unique Investment Case?
What Makes AETL a Unique Investment Case? Specialized Business Inherent Diversification with High Entry in the Business Model Barriers Significant Focus on Strong Research & International Markets & Development Brand Building Capabilities Integrated Player with Presence Across the Strong Financial En
Slide 25: Integrated Player with Presence Across the Enzyme Value Chain
Integrated Player with Presence Across the Enzyme Value Chain Research & Development Manufacturing Marketing & Distribution Earnings Presentation | Q4 FY22 25
Slide 26: Specialized Business With High Entry Barriers
Specialized Business With High Entry Barriers Technocrat Promoters Global Competitiveness Cumulative experience of 7+ decades in Amongst the Lowest Cost Manufacturers in the World, the global enzyme industry therefore our Gross margin stays in the range of 75%-80% (Benchmarked both in terms of Capex
Slide 27: Future Growth Drivers
Future Growth Drivers o Identify Product gaps and Develop new Enzymes, Probiotics & Continued Solutions thereof o Expand Competencies in Enzymes & Probiotics, Discovery and Investment in R&D Genetic Engineering o Increased focus on high return applications where AETL has strategic advantages Broaden
Slide 28: Focus Areas Going Ahead
Focus Areas Going Ahead Animal Nutrition Probiotics Bio-Catalysis Baking • Continuing conduct trials and • To introduce more probiotics • Developing bio catalysis for API • In Bio-processing division, our studies to bring newer and products in Human Nutrition for manufacturers, providing focus is on
Slide 29: Shareholders Information
Shareholders Information Stock Data (As on 19th May 2022) Top 5 Institutional Holders (As on 14th May 2022) Institutions OS (%) Market Capitalization (₹) 31,863 mn ORBIMED ASIA III MAURITIUS 12.09 Shares Outstanding 111.72 mn NALANDA INDIA EQUITY FUND 6.21 HDFC AMC 4.21 Free Float 10,849 mn ICICI PR
Slide 30: Thank You
Thank You Advanced Enzyme Technologies Limited Address: 5th Floor, 'A' wing, Sun Magnetica LIC Service Road, Louiswadi, Thane (W) 400 604, India Tel: +91-22-4170 3200 Fax: + 91-22-25835159 Web: www.advancedenzymes.com CIN No: L24200MH1989PLC051018 Investor Relations Contact: Ronak Saraf Manager - In
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