Slide 1: Advanced Enzyme Technologies Limited Earnings Presentation
Advanced Enzyme Technologies Limited Earnings Presentation | February 2025
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: Agenda
1 2 3 Result Summary Business Geographical Q3 FY25 Performance Performance Page: 04 Page: 07 Page: 11 4 5 6 7 Result Summary Unique Focus Area Shareholders’ FY24 Investment Case Going Ahead Information Page: 12 Page: 26 Page: 30 Page: 32 Earnings Presentation | February 2025 3
Slide 4: Results Summary – Q3 FY25 (Consolidated) Q-o-Q
Results Summary – Q3 FY25 (Consolidated) Q-o-Q Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 1,691 553 389 334 1,461 16% 424 30% 16% Q2 FY25 Q3 FY25 Q2 FY25 Q3 FY25 Q2 FY25 Q3 FY25 Revenue grew by 16% on q-o-q basis to ₹ 1,691 million in Q3 EBITDA grew by 30% to ₹ 553 million in Q3 FY25 as against ₹ PAT i
Slide 5: Results Summary – Q3 FY25 (Consolidated) Y-o-Y
Results Summary – Q3 FY25 (Consolidated) Y-o-Y Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 1,691 538 553 1,609 425 389 05% 03% 09% Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Revenue grew by 5% on y-o-y basis to EBITDA grew by 3% to ₹ 553 million in Q3 PAT decreased to ₹ 389 million in Q3 FY25 EBITD
Slide 6: Results Summary – 9M FY25 (Consolidated) Y-o-Y
Results Summary – 9M FY25 (Consolidated) Y-o-Y Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 4,661 4,697 1,491 1,488 1,071 1,072 9M FY24 9M FY25 9M FY24 9M FY25 9M FY24 9M FY25 Revenue grew by 1% on y-o-y basis to EBITDA remained at ₹ 1,488 million in PAT remained flat at ₹ 1,072 million in EBITDA margin
Slide 7: Human Nutrition
Human Nutrition (₹ in Million) 1,059 1,107 Commentary: 994 1,024 1,012 992 1,018 934 • The human nutrition segment contributed 877 around 60% during the quarter to the total revenue from operations • This segment de-grew by 8% during the quarter from ₹ 1,107 million in Q3 FY24 to ₹ 1,018 million in
Slide 8: Animal Nutrition
Animal Nutrition (₹ in Million) Commentary: 206 197 • The animal nutrition segment contributed 185 181 175 173 172 around 12% during the quarter to the total 158 162 revenue from operations • This segment grew by 22% during the quarter from ₹ 162 million in Q3 FY24 to ₹ 197 million in Q3 FY25 wherea
Slide 9: Industrial Bio-processing
Industrial Bio-processing (₹ in Million) Commentary: 321 • The Industrial Bio-Processing segment contributed about 19% during the quarter to the total revenue from 258 operations 243 251 226 236 • This segment grew by 36% on y-o-y basis to ₹ 321 million 224 in Q3 FY25 from ₹ 236 million in Q3 FY24 w
Slide 10: Specialized Manufacturing
Specialized Manufacturing (₹ in Million) Commentary: 154 • This segment contributed about 9% during the quarter to the total revenue from operations 120 which was 6% during the same quarter last 113 111 110 103 104 year 97 86 • This segment grew by 49% on y-o-y basis to ₹ 154 million in Q3 FY25, and
Slide 11: Geographical performance
Geographical performance (₹ in Million) Rest of the India Americas Europe Asia* World 45% 33% 06% 12% 04% Q3 FY25 -01% -10% -07% +139% +197% Q3 FY25 759 Q3 FY25 560 Q3 FY25 105 Q3 FY25 196 Q3 FY25 71 Q3 FY24 767 Q3 FY24 623 Q3 FY24 113 Q3 FY24 82 Q3 FY24 24 47% 36% 05% 09% 03% 9M FY25 -06% +10% -11%
Slide 12: Profit & Loss (Consolidated) – Q3 & 9M FY25
Profit & Loss (Consolidated) – Q3 & 9M FY25 (₹ in Million) Q3 FY25 Q2 FY25 Q3FY24 Y-o-Y Q-o-Q 9M FY25 9M FY24 Particulars Y-o-Y (%) Un-Audited Un-Audited Un-Audited (%) (%) Un-Audited Un-Audited Income from Operations 1,691 1,461 1,609 5% 16% 4,697 4,661 1% Expenses 1,228 1,126 1,157 6% 9% 3,474 3,4
Slide 13: Result summary - FY24 (Consolidated) Y-o-Y
Result summary - FY24 (Consolidated) Y-o-Y (₹ in Million) Revenue (₹ mn) EBITDA (₹ mn) PAT (₹ mn) 6,239 2,045 1,370 5,406 1,564 1,039 FY23 FY24 FY23 FY24 FY23 FY24 Human Nutrition Animal Nutrition Bio Processing Specialized Manufacturing +18% -5% +21% +19% FY24 FY23 FY24 FY23 FY24 FY23 FY24 FY23 4,1
Slide 14: Revenue Mix – FY24 vs. FY23
Revenue Mix – FY24 vs. FY23 FY24 3% 7% 7% 15% 6% 50% 11% 67% 34% Human Nutrition Animal Nutrition Bio-Processing Specialised Manufacturing India Americas Europe Asia (ex-India) Rest of the World FY23 2% 6% 9% 15% 7% 47% 13% 35% 66% Human Nutrition Animal Nutrition Bio-Processing Specialised Manufact
Slide 15: Strong Financial Performance – FY24
Strong Financial Performance – FY24 (₹ in Million) Revenue from Operations EBIDTA & EBIDTA Margin (%) 6,239 2,500 46% 46% 50% 5,294 5,406 38% 45% 5,018 4,440 2,000 40% 29% 33% 35% 1,500 30% 25% 1,000 20% 15% 500 10% 2,023 2,316 2,014 1,564 2,045 5% 0 0% FY 20 FY 21 FY 22 FY 23 FY 24 FY 20 FY 21 FY 2
Slide 16: Strong Financial Performance – FY24
Strong Financial Performance – FY24 Net Working Capital (Days) Net Worth (₹ mn) 13,241 135 135 12,351 132 10,886 9,709 8,397 120 115 FY 20 FY 21 FY 22 FY 23 FY 24 FY 20 FY 21 FY 22 FY 23 FY 24 ROE (%) & ROCE (%) Net Debt to Equity (x) 22.44% 21.94% 0.02 0.02 0.02 15.93% 13.03% 17.52% 16.71% 10.34% 0
Slide 17: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) (₹ in Million) FY24 FY23 FY22 Particulars Audited Audited Audited Assets Property, plant and equipment 2,765 2,732 2,622 Capital work-in-progress 411 215 151 Intangible assets 479 550 609 Goodwill 3,253 3,209 2,961 Other non-current assets 350 291 289 Current assets 8,09
Slide 18: Annexure
Annexure
Slide 19: Company Overview
Company Overview Advanced Enzymes is a research driven company with global Probiotics are live microorganisms, when administered in sufficient amount, leadership in the manufacturing of enzymes and probiotics. confer health benefits to human and animals. Probiotics have now become We are committed t
Slide 20: Advanced Enzyme Technologies Limited – A Rising Global Star
Advanced Enzyme Technologies Limited – A Rising Global Star 9 68+ 400+ 700+ Manufacturing Units Enzymes Proprietary Customers India – 8 | USA - 1 7 & Probiotics Products Worldwide R&D Units India – 5 | USA – 1 | Germany –1 45+ 750+ 13* 1st Countries Worldwide Presence Employees Patents Indian Enzyme
Slide 21: Brief History and Evolution
Brief History and Evolution • Equity investment • 4 food enzymes got by Kotak Private approved as a Equity processing aid with • Takeover of Food Safety Standard • Received NIH grant for • Received approval for 2 Advanced Authority of India ImmunoSEB and food enzyme dossiers Incorporated as R&D loca
Slide 22: Board of Directors
Board of Directors Mr. Vasant Rathi Mr. Mukund M. Kabra Mr. Pramod Kasat Promoter Chairman and Non-Executive Director Whole-time Director Independent Director Ms. Rasika Rathi Mr. Vinod Jajoo Mr. Sunny Sharma Non-Executive Director Independent Director Non-Executive Director Ms. Rajshree Patel Mr. N
Slide 23: Management Team
Management Team Group Chief Financial Officer Vice President / Market & Business CFO & COO - Advanced Enzymes, USA Managing Director /Head Of Business Development Development - evoxx Technologies, Germany General Counsel / Vice President Managing Director /Head Of Research and Company Secretary & He
Slide 24: How Big is the Opportunity?
How Big is the Opportunity? Global Enzymes Market Global Probiotics Market Grow at a $6Bn 8% Grow at a CAGR 7.75% CAGR 6% $11.3Bn CY 2023-28 till 2030 $7Bn $923Mn 11% $57Bn $400Mn 81% $70Bn $1.85Bn $3.57Bn $250Mn $500Mn $800Mn Animal Feed Dietary Supplements Functional Food & Beverages $1.01Bn $1.02
Slide 25: What Makes AETL a Unique Investment Case?
What Makes AETL a Unique Investment Case? Specialized Business with High Entry Barriers Strong Research & Development Capabilities Integrated Player with Presence Across the Enzyme Value Chain Inherent Diversification in the Business Model Significant Focus on International Markets & Brand Building
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 | February 2025 26
Slide 27: 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** FY24 FY23 Human Nutrition $ 400 mn $ 200 mn $ 43.5 mn, 58% $ 38.8 mn, 58% Bio-Catalysis $ 60 mn $ 30 mn* $ 3.3 mn, 4% $ 2.9 mn, 4% Baking $ 300 mn $ 30 m
Slide 28: Specialized Business With High Entry Barriers
Specialized Business With High Entry Barriers Technocrat Global Promoters Competitiveness Amongst the Lowest Cost Cumulative experience of 7+ decades Manufacturers in the World in the global enzyme industry (Benchmarked both in terms of Capex & Opex) Sustained Research Diverse Product Range & Develo
Slide 29: Future Growth Drivers
Future Growth Drivers Continued Broaden & Deepen Inorganic Investment in R&D Geographical Presence Expansion o Acquisition of Key Technologies, Competencies & o Identify Product gaps and Develop new Enzymes, o Increased focus on high return applications where Skill-sets which Enable Consolidation an
Slide 30: Focus Areas Going Ahead
Focus Areas Going Ahead • Continuing conduct trials and studies to bring newer and effective nutritional products, which may improve the efficacy of animal feeds • Registering and introducing more products in the domestic as well as in the international markets. Animal Nutrition • Expand its sales a
Slide 31: Shareholders Information
Shareholders Information Stock Data (As on 7th Feb 2025) Top Institutional Holders (As on 31st Jan 2025) Institutions OS (%) Market Capitalization (₹) 37,144 mn ORBIMED ASIA III MAURITIUS 12.07 NALANDA INDIA EQUITY FUND 8.46 Shares Outstanding 111.88 mn ICICI PRUDENTIAL MF 2.67 CLARUS CAPITAL I 2.10
Slide 32: 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 Contact: Mr. Ronak Saraf Manager – Investor Relation