Advanced Enzyme Technologies Ltd · NSE:ADVENZYMES
Advanced Enzyme Technologies — Q1 FY22 Earnings Presentation
30 slides from Advanced Enzyme Technologies's earnings presentation, Aug 7, 2021
Slide 1: Q1 Earnings Presentation
Q1 Earnings Presentation August 2021 Advanced Enzyme Technologies Limited
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 Q1 FY22 04 Segmental Performance 05 Geographical Performance 09 3 Result Summary FY21 11 Unique Investment Case 23 Focus Area Going Ahead 28 Shareholders’ Information 29
Slide 4: Results Summary – Q1 FY22 (Consolidated) Y-o-Y
Results Summary – Q1 FY22 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 1,370 628 399 348 517 1,105 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Despite trailing impact of COVID -19 and panic across globe, we performed exceptionally well and that is quantified below. • Revenue gre
Slide 5: Human Nutrition
Human Nutrition (₹ in Million) +03% Q1 FY22 892 Q1 FY21 868 1,089 925 892 868 885 65% of Sales Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Commentary: • The human nutrition segment contributed around 65% during the quarter in the total revenue from operations • This segment grew by 3% during the quarter
Slide 6: Animal Nutrition
Animal Nutrition (₹ in Million) +32% Q1 FY22 140 Q1 FY21 106 140 132 131 106 105 10% of Sales Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Commentary: • The Animal nutrition segment contributed about 10% during the quarter in the total revenue from operations • This segment performed exceptionally well a
Slide 7: Industrial Bio-Processing
Industrial Bio-Processing (₹ in Million) +56% Q1FY22 204 Q1 FY22: 171 Q1FY21 131 Food 13% 197 204 187 183 131 15% Q1 FY22: 33 of Sales Non-Food 2% Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Commentary: • The Industrial Bio-Processing segment contributed about 15% during the quarter in the total revenue from
Slide 8: Specialized Manufacturing
Specialized Manufacturing (₹ in Million) The Specialized manufacturing segment is newly added to the revenue stream as synergy from the acquisition of SciTech Specialties (SSPL) +100% Q1FY22 134 Q1FY21 0 In Specialized manufacturing, we manufacture products based on effervescent technology These eff
Slide 9: Geographical Performance
Geographical Performance (₹ in Million) India Americas Europe Asia* Rest of the World 42% 39% 08% 06% 05% +11% +10% +79% +158% +633% Q1 FY22 579 Q1 FY22 529 Q1 FY22 116 Q1 FY22 80 Q1 FY22 66 Q1 FY21 520 Q1 FY21 480 Q1 FY21 65 Q1 FY21 31 Q1 FY21 9 *Asia is excluding India Earnings Presentation | Q1 F
Slide 10: Profit & Loss (Consolidated) – Q1FY22
Profit & Loss (Consolidated) – Q1FY22 (₹ in Million) Q1FY22 Q4FY21 Q1FY21 FY21 FY20 Particulars Y-o-Y (%) Y-o-Y (%) Un-Audited Audited Un-Audited Audited Audited Income from Operations 1,370 1,332 1,105 +24 5,018 4,440 +13 Expenses 824 867 654 +26 2,986 2,675 +12 Profit from Operations before Other
Slide 11: Results Summary – FY21 (Consolidated) Y-o-Y
Results Summary – FY21 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 2,315 5,018 4,440 2,023 1,515 1,330 FY20 FY21 FY20 FY21 FY20 FY21 Animal HC Human HC Bio Processing 11% 18% 1% FY21 475 FY21 3,786 FY21 678 FY20 536 FY20 3,211 FY20 683 1. On Consolidated Basis 2. PAT is before mino
Slide 12: Revenue Split – FY21 vs. FY20
Revenue Split – FY21 vs. FY20 FY21 FY20 14% 15% 9% Human HC 12% Human HC Product Animal HC Product Animal HC Category-wise (%) Bio-Processing Category-wise (%) Bio-Processing 77% 73% 2% 2% 4% 6% Asia (ex- India) Asia (ex- India) Others Others 42% 42% Geographical India Geographical India Revenue Spl
Slide 13: Strong Financial Performance – FY21
Strong Financial Performance – FY21 (₹ in Million) Revenue from Operations EBIDTA & EBIDTA Margin (%) 5,018 2,500 46% 50% 4,196 4,440 46% 43% 48% 3,957 45% 42% 2,000 3,431 46% CAGR 1,500 44% CAGR 9.97% 1,000 42% 10.84% 40% 500 1,534 1,654 1,819 2,023 2,315 38% 0 36% FY 17 FY 18 FY 19 FY 20 FY 21 FY
Slide 14: Strong Financial Performance – FY21
Strong Financial Performance – FY21 Net Working Capital (Days) Net Worth (₹ mn) 119 120 9,699 116 8,397 6,788 108 5,591 4,640 105 FY 17 FY 18 FY 19 FY 20 FY 21 FY 17 FY 18 FY 19 FY 20 FY 21 ROE (%) & ROCE (%) Net Debt to Equity (x) 27.00% 27.00% 0.1 24.00% 22.80% 22.50% 19.00% 18.00% 19.00% 17.50% 1
Slide 15: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) (₹ in Million) FY21 FY20 FY19 Particulars Audited Audited Audited Assets Property, plant and equipment 2,382 2,096 1,618 Capital work-in-progress 104 101 105 Intangible assets 725 592 622 Goodwill 2,901 2,941 2,715 Other non-current assets 253 251 183 Current assets 5,16
Slide 16: Annexure
Annexure Earnings Presentation | Q1 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 2020 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. Vilas Aurangabadkar Independent Director Non-Executive Dir
Slide 21: Management Team
Management Team Dr. Anil Gupta Mr. Beni Prasad Rauka Mr. Dipak Roda Mr. Harshad Doshi Vice President / Research & Development Chief Financial Officer Vice President / Market & Business CFO & COO - Advanced Enzymes, USA Development Ms. Martina Doering Ms. Rasika Rathi Dr. Michael Puls Mr. Sanjay Basa
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 $4.79Bn 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 $60Mn $60Mn Focus Area Addressable marke
Slide 23: 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 24: 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 | Q1 FY22 24
Slide 25: 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 (Benchmarked both in terms of Capex & Opex) Sustained Research & Development Diverse Product
Slide 26: 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 27: Foraying into B2C in India
Foraying into B2C in India Post the success of B2C segment in USA, now we are foraying it in India Advanced Enzymes is performing well into the B2C segment in America, under the name of AST Enzymes and Dynamic Enzymes We are replicating the same business model in the Indian markets to explore new av
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 06sh Aug 2021) Top 5 Institutional Holders (As on 30th Jul 2021) Institutions OS (%) Market Capitalization (₹) 46,165 mn ORBIMED ASIA III MAURITIUS 12.09 Shares Outstanding 111.72 mn NALANDA INDIA EQUITY FUND 4.74 HDFC AMC 4.21 Free Float 44.62% ICICI PRUDE
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 Web: www.advancedenzymes.com Fax: + 91-22-25835159 Investor Relations Contact: Ronak Saraf Manager - Investor Relations ir@advanceden
Advanced Enzyme Technologies — Q1 FY22 Earnings Presentation on 6ix