Advanced Enzyme Technologies Ltd · NSE:ADVENZYMES
Advanced Enzyme Technologies — Q4 FY23 Earnings Presentation
31 slides from Advanced Enzyme Technologies's earnings presentation, May 13, 2023
Slide 1: Exchange filing cover letter for Earnings Presentation
May 13, 2023 BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai- 400 001 Bandra (E) Mumbai- 400 051 Scrip Code-540025 Trading Symbol-ADVENZYMES Subject: Earnings Presentation Ref: ISIN: INE837H01020 Dea
Slide 2: Advanced Enzyme Technologies Limited Earnings Presentation May 2023
Advanced Enzyme Technologies Limited Earnings Presentation May 2023
Slide 3: 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 4: Table of Content
Table of Content Result Summary Q4 FY23 04 Segmental Performance 07 Geographical Performance 11 Result Summary FY23 12 Unique Investment Case 24 Focus Area Going Ahead 28 Shareholders’ Information 29 Earnings Presentation | Q4 FY23 3
Slide 5: Results Summary – Q4 FY23 (Consolidated) Y-o-Y
Results Summary – Q4 FY23 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 1,387 441 1,317 321 403 253 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 • Revenue grew by 05% on y-o-y basis to ₹ 1,387 million in Q4 FY23 from ₹ 1,317 million in Q4 FY22 • EBITDA grew by 09% to ₹ 441 million
Slide 6: Results Summary – Q4 FY23 (Consolidated) Q-o-Q
Results Summary – Q4 FY23 (Consolidated) Q-o-Q *Revenue (₹ mn) EBITDA (₹ mn.) PAT (₹ mn) 1,421 1,387 441 417 321 279 Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 • Revenue de-grew by 02% on Q-o-Q basis to ₹ 1,387 million in Q4 FY23 from ₹ 1,421 million in Q3 FY23 • EBITDA grew by 06% to ₹ 441 mil
Slide 7: Results Summary – FY23 (Consolidated) Y-o-Y
Results Summary – FY23 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 02% 5,294 5,406 2,014 1,238 1,564 1,039 FY22 FY23 FY22 FY23 FY22 FY23 • Revenue grew by 02% on y-o-y basis to ₹ 5,406 million in FY23 from ₹ 5,294 million in the FY22 • EBITDA de-grew by 22% to ₹ 1,564 million in FY
Slide 8: Human Nutrition
Human Nutrition (₹ in Million) Q4 FY23 Commentary: • The human nutrition segment contributed around 63% +01% Q4 FY23 877 during the quarter to the total revenue from operations Q4 FY22 865 63% • This segment grew by 01% during the quarter from ₹ 865 of Sales million in Q4 FY22 to ₹ 877 million in Q4
Slide 9: Animal Nutrition
Animal Nutrition (₹ in Million) Q4 FY23 Commentary: • The Animal nutrition segment contributed about 15% +36% Q4 FY23 206 during the quarter to the total revenue from operations Q4 FY22 152 15% • This segment grew by 36% on y-o-y basis to ₹ 206 million of Sales in Q4 FY23 as against ₹ 152 million in
Slide 10: Industrial Bio-Processing
Industrial Bio-Processing (₹ in Million) +02% +19% Q4 FY23 192 FY23 794 Q4 FY22 188 FY22 669 226 Q4 FY23 197 203 188 183 193 192 160 118 149 mn 43 mn Food Non-Food 11% 03% Q4 FY21 Commentary: Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 14% • The Industrial Bio-Processing segment
Slide 11: Specialized Manufacturing
Specialized Manufacturing (₹ in Million) Q4 FY23 Commentary: • This segment contributed about 08% during the quarter to the total revenue from operations which was 09% 00% Q4 FY23 113 during the same quarter last year Q4 FY22 113 08% • This segment remained flat on y-o-y basis at ₹ 113 million of Sa
Slide 12: Geographical Performance
Geographical Performance (₹ in Million) India Americas Europe Asia* Rest of the World 54% 29% 07% 08% 02% Q4 FY23 +26% -22% +37% +25% -48% Q4 FY23 752 Q4 FY23 400 Q4 FY23 103 Q4 FY23 107 Q4 FY23 26 Q4 FY22 596 Q4 FY22 512 Q4 FY22 75 Q4 FY22 85 Q4 FY22 49 47% 35% 07% 09% 02% +09% -09% +10% +30% -29%
Slide 13: Profit & Loss (Consolidated) – Q4 FY23
Profit & Loss (Consolidated) – Q4 FY23 (₹ in Million) Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 Particulars Y-o-Y (%) Y-o-Y (%) Audited Un-Audited Audited Audited Audited Income from Operations 1,387 1,421 1,317 5% 5,406 5,294 2% Expenses 1,030 1,096 1,005 3% 4,192 3,629 16% Profit from Operations before Ot
Slide 14: Balance Sheet (Consolidated) – FY23
Balance Sheet (Consolidated ) – FY23 (₹ in Million) FY23 FY22 FY21 Particulars Audited Audited Audited Assets Property, plant and equipment 2,732 2,622 2,462 Capital work-in-progress 215 151 102 Intangible assets 550 609 693 Goodwill 3,209 2,961 2,887 Other non-current assets 291 289 258 Current ass
Slide 15: Strong Financial Performance – FY23
Strong Financial Performance – FY23 (₹ in Million) Revenue from Operations EBIDTA & EBIDTA Margin (%) 5,294 5,406 46% 46% 5,018 2,500 44% 50% 4,440 38% 45% 4,196 2,000 40% 29% 35% CAGR 1,500 30% CAGR 6.54% -3.71% 25% 1,000 20% 15% 500 10% 1,819 2,023 2,316 2,014 1,564 5% 0 0% FY 19 FY 20 FY 21 FY 22
Slide 16: Strong Financial Performance – FY23
Strong Financial Performance – FY23 Net Working Capital (Days) Net Worth (₹ mn) 135 12,351 132 120 10,886 115 9,709 105 8,397 6,788 FY 19 FY 20 FY 21 FY 22 FY 23 FY 19 FY 20 FY 21 FY 22 FY 23 ROE (%) & ROCE (%) Net Debt to Equity (x) 24.00% 0.05 22.44% 21.94% 15.93% 18.72% 17.52% 10.34% 0.02 0.02 16
Slide 17: Annexure
Annexure Earnings Presentation | Q4 FY23 16
Slide 18: 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 19: 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+ 850+ Enzymes Proprietary Customers Countries Employees & Probiotics Products Worldwide Worldwide Presence 1st Indian enzyme company 2nd H
Slide 20: Brief History and Evolution
Brief History and Evolution 1985 Cal-India Foods International (doing business as Specialty Enzymes and Probiotics), 2023 promoted by Mr. Vasant Rathi 2004 Advanced Biochemicals • Acquired 50% stake in and incorporated on March 25, 2021 ranked as the largest 2017 SaiGanesh Enzytech 1985 in the Unite
Slide 21: Board of Directors
Board of Directors Mr. Vasant Rathi Mr. Mukund M. Kabra Mr. Kedar Desai Mr. Rajesh Sharma Promoter 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 D
Slide 22: 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 23: 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 24: What we are Aiming in the Opportunity?
What we are Aiming in the Opportunity? Addressable market for AETL over next 5 AETL’s Current Share of Revenue Focus Area Opportunity Size years** FY23 FY22 Human Nutrition $ 400 mn $ 200 mn $ 40.5 mn, 57% $ 41 mn, 58% Bio-catalysis $ 60 mn $ 30 mn* $ 2.1 mn, 3% $ 2.5 mn, 4% Baking $ 300 mn $ 30 mn
Slide 25: What Makes AETL a Unique Investment Case?
What Makes AETL a Unique Investment Case? Specialized Business Inherent Diversification in the with High Entry Barriers Business Model Strong Research & Significant Focus on International Development Capabilities Markets & Brand Building UNIQUE INVESTMENT CASE Integrated Player with Presence Strong
Slide 26: 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 FY23 25
Slide 27: Specialized Business With High Entry Barriers
Specialized Business With High Entry Barriers Global Competitiveness Technocrat Amongst the Lowest Cost Promoters Manufacturers in the World Cumulative experience of 7+ (Benchmarked both in terms of decades in the global enzyme Capex & Opex) industry Sustained Research Diverse Product Range & & Deve
Slide 28: Future Growth Drivers
Future Growth Drivers o Increased focus on high return applications where AETL has strategic advantages o Build Strategic Partnerships in Key Markets for Focus Segments Continued Investment in Inorganic R&D Expansion Broaden & Deepen Geographical Presence o Acquisition of Key Technologies, o Identif
Slide 29: Focus Areas Going Ahead
Focus Areas Going Ahead Animal Nutrition Probiotics Bio-Catalysis Baking Continuing conduct trials and studies To introduce more probiotics products Developing bio catalysis for API In Bio-processing division, our focus is to bring newer and effective nutritional in Human Nutrition for the immunity
Slide 30: Shareholders’ Information
Shareholders’ Information Stock Data (As on 12th May 2023) Top 5 Institutional Holders (As on 05th May 2023) Institutions OS (%) Market Capitalization (₹) 32,205 mn ORBIMED ASIA III MAURITIUS 12.09 Shares Outstanding 111.72 mn NALANDA INDIA EQUITY FUND 8.91 HDFC AMC 4.29 Free Float 11,292 mn ICICI P
Slide 31: 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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