Advanced Enzyme Technologies Ltd · NSE:ADVENZYMES
Advanced Enzyme Technologies — Q1 FY23 Earnings Presentation
31 slides from Advanced Enzyme Technologies's earnings presentation, Aug 6, 2022
Slide 1: Exchange filing cover letter: Earnings Presentation
Advanced enzymes Where ENZYME is Life Advanced Enzyme Technologies Ltd. CIN: L 24200 MH1989 PLC051018 Sun Magnetica, A' wing, 5th Floor, LIC Service Road, Louiswadi, Thane ( W)-400 604, India Tel: + 91-22-4170 3200, Fax: + 91- 22- 2583 5159 Email: info@advancedenzymes.com, www.advancedenzymes.com Da
Slide 2: Advanced Enzyme Technologies Earnings Presentation August 2022
^ icfrancecl enzymes Where ENZYME is Life ADVANCED ENZYME TECHNOLOGIES LIMITED Earnings Presentation August 2022
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 Q1 FY23 04 Segmental Performance 06 Geographical Performance 10 Result Summary FY22 12 Unique Investment Case 24 Focus Area Going Ahead 28 Shareholders’ Information 29 $£l ' 4
Slide 5: Results Summary – Q1 FY23 (Consolidated) Y-o-Y
Results Summary – Q1 FY23 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 72 % 1,370 627 397 1,211 309 176 T T Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 • Revenue de-grew by 12% on y-o-y basis to ₹ 1,211 million in the Q1 FY23 from ₹ 1,370 million in the Q1 FY22 • EBITDA de-grew
Slide 6: Results Summary – Q1 FY23 (Consolidated) Q-o-Q
Results Summary – Q1 FY23 (Consolidated) Q-o-Q *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 8% 1,317 1,211 53% 30% 403 253 309 176 r I 1 Q4 FY22 Q1 FY23 Q4 FY22 Q1 FY23 Q4 FY22 Q1 FY23 • Revenue de-grew by 8% on Q-o-Q basis to ₹ 1,211 million in the Q1 FY23 from ₹ 1,317 million in the Q4 FY22 • EBITDA d
Slide 7: Human Nutrition
Human Nutrition (₹ in Million) -10% Q1 FY23 807 Q1 FY22 892 67% of Sales 1,089 925 892 920 918 868 885 865 807 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Commentary: • The human nutrition segment contributed around 67% during the quarter in the total revenue from operati
Slide 8: Animal Nutrition
Animal Nutrition (₹ in Million) +11% Q1 FY23 156 Q1 FY22 141 13% of Sales 152 156 141 136 132 131 132 108 105 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Commentary: • The Animal nutrition segment contributed about 13% during the quarter in the total revenue from operatio
Slide 9: Industrial Bio-Processing
Industrial Bio-Processing (₹ in Million) -10% Q1 FY23 183 Q1 FY22 203 197 203 187 183 188 183 160 131 118 Q1 FY23: 37 Q1 FY23: 147 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Food Non-Food 12% 3% 15% Commentary: • The Industrial Bio-Processing segment contributed about 15
Slide 10: Specialized Manufacturing
Specialized Manufacturing (₹ in Million) -52% Q1 FY23 65 Q1 FY22 134 «£& • % 134 W .* " if . • Ifh 125 «• • ’**’ 1; 113 / 97 65 .4 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Commentary: • The Specialized manufacturing segment recorded lowest ever sales during a quarter since acquisition 05% of Sales •
Slide 11: Geographical Performance
Geographical Performance (₹ in Million) f 8 ’ India Americas Europe Asia* Rest of the World 45% 38% 06% 10% 01% -05% -14% -37% +57% -90% Q1 FY23 550 Q1 FY23 456 Q1 FY23 73 Q1 FY23 126 Q1 FY23 07 Q1 FY22 577 Q1 FY22 529 Q1 FY22 116 Q1 FY22 80 Q1 FY22 69 *Asia is excluding India Earnings Presentation
Slide 12: Profit & Loss (Consolidated) – Q1 FY23
Profit & Loss (Consolidated) – Q1 FY23 (₹ in Million) Q1 FY23 Q4 FY22 Q1 FY22 FY22 FY21 Particulars Y-o-Y (%) Y-o-Y (%) Un-Audited Audited Un-Audited Audited Audited Income from Operations 1,211 1,317 1,370 -12% 5,294 5,018 6% Expenses 988 1,005 827 19% 3,629 2,989 21% Profit from Operations before
Slide 13: Results Summary – FY22 (Consolidated) Y-o-Y
Results Summary – FY22 (Consolidated) Y-o-Y *Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 6% 13 % 18 % 5,294 2,316 5,018 1,513 2,014 1,238 FY21 FY22 FY21 FY22 FY21 FY22 4 Animal HC Human HC Hfe- Bio Processing Specialized Manufacturing 18% 05% ¥ 01% ¥ 492% FY22 560 FY22 3,594 FY22 669 FY22 470 FY21 475 F
Slide 14: Revenue Split – FY22 vs. FY21
Revenue Split – FY22 vs. FY21 FY22 FY21* 2% 9% 14% 13% Human HC Human HC 9% Product Product Animal HC Animal HC 10% Category-wise (%) Category-wise (%) Bio-Processing Bio-Processing 68% Specialized 75% Specialized Manufacturing Manufacturing 3% 2% 7% 4% 6% 6% India India 44% USA USA Geographical Geo
Slide 15: 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% I T T 1 FY 18 FY 19 FY 2
Slide 16: 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 FY 18 FY 19 FY 20 ROE (%) & ROCE (%) FY 21 FY 22 u 5,591 FY 18 6,788 FY 19 FY 20 Net Debt to Equity (x) FY 21 FY 22 25.47% 0.12 24.00% 22.44% 21.94% 15.93% 18.29% 18.72% 17.52% 0.05
Slide 17: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) (₹ 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 assets 6,04
Slide 18: Annexure
Annexure Earnings Presentation | Q1 FY23 17 ^ Manced enzymes Whore ENZYME is Life
Slide 19: 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 20: Advanced Enzyme Technologies Limited – A Rising Global Star
Advanced Enzyme Technologies Limited – A Rising Global Star 9 Manufacturing Units India - 7 USA - 2 7 Q 1 0 i« 0* 0« 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 enz
Slide 21: Brief History and Evolution
Brief History and Evolution 2004 Advanced Biochemicals 2017 2021 ranked as the largest 2011 • Acquired 100% stake in Acquired 51% stake in domestic manufacturer of Takeover of Cal-India 2014 evoxx technologies 1994 SciTech Specialities Industrial Enzymes. Foods International – 1st food enzyme GmbH,
Slide 22: Board of Directors
Board of Directors " II 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 1 ru Mr. Pramod Kasat Ms. Rasika Rathi Mr. Vinod Jajoo Mr. Sunny Sharma Independent Director Non-E
Slide 23: Management Team
Management Team n mtM 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.
Slide 24: 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 25: What Makes AETL a Unique Investment Case?
What Makes AETL a Unique Investment Case? Inherent Diversification in the Specialized Business with High Entry Barriers 4E < > Business Model Strong Research & advanced enzymes Fn^D & Significant Focus on International Development Capabilities Where ENZYME is Lite Markets & Brand Building UNIQUE INV
Slide 26: Integrated Player with Presence Across the Enzyme Value Chain
Integrated Player with Presence Across the Enzyme Value Chain % ^0,. 0 oc ' tu „ rcoc? < Research & Development Manufacturing Marketing & Distribution W -V^ 9os. < o % <5 v v>* c ^ . ° oV e6 *5^ c« 0 ^ Earnings Presentation | Q1 FY23 25 ^ Manced enzymes Where ENZYME is Life
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 05th Aug 2022) Top 5 Institutional Holders (As on 30th Jul 2021) Institutions OS (%) Market Capitalization (₹) 32,779 mn ORBIMED ASIA III MAURITIUS 12.09 a Shares Outstanding 111.72 mn NALANDA INDIA EQUITY FUND 6.23 HDFC AMC 4.21 Free Float 10,817 mn ICICI
Slide 31: Thank You
Thank You Pfw „ * % Thanej Van! *3 9 - The Caravan Menu ^ < r * school a Enrich Salon Beauty Parlour iree . Asynergy United “{f KT4£*"DI" Advanced Enzyme Technologies Limited T Pharmachem Pvt. Ltd. Hariniwas ^ Circle NAUPADA Address: 5th Floor, 'A' wing, Sun Magnetica LIC Service Road, ^9 Lumg- Bige
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