ADVANCED ENZYME TECHNOLOGIES LIMITED ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER ENDED SEPTEMBER 2017
Bangalore, India: Advanced Enzyme Technologies Limited (Advanced Enzymes; NSE: ADVENZYMES; BSE: 540025), a leading specialty biotech company, with global leadership in the manufacturing of enzymes, announced their unaudited financial results for second quarter ended September 2017.
Financial Highlights – Q2FY18 vs Q2FY17:
Consolidated Q2FY18 Sales (net of excise duty) up 9% YoY to INR 986 mn against INR 904 mn in Q2FY17
Consolidated EBITDA for Q2FY18 stands at INR 414 mn against INR 487 mn in Q2FY17, down 15%
Consolidated EBITDA Margin for Q2FY18 stands at 42% as against 52% in Q2FY17
Consolidated Q2FY18 Net Profit down 23% at INR 224 mn against INR 291 in Q2FY17
Financial Highlights – H1FY18 vs H1FY17:
Consolidated H1FY18 Sales (net of excise duty) down 6% YoY to INR 1,742 mn against INR 1,847mn in H1FY17
Consolidated EBITDA for H1FY18 stands at INR 712 mn against INR 997 mn in H1FY17, down 29%
Consolidated EBITDA Margin for H1FY18 stands at 40% as against 52% in H1FY17
Consolidated H1FY18 Net Profit down 32% at INR 387 mn against INR 569 in H1FY17
Advanced Enzyme Technologies Limited, incorporated in 1989, is a research driven company with global leadership in the manufacturing of enzymes. The company is committed to provide eco-safe solutions to wide variety of industries like human care and nutrition, animal nutrition, baking, fruit & vegetable processing, brewing & malting, grain processing, protein modification, dairy processing, specialty applications, textile processing, leather processing, paper & pulp processing, biofuels, biomass processing, bio catalysis, etc. The company aims to provide side-effect-free healthcare and eco-safe industrial solutions to its customers globally, and is today, the largest producer of enzymes in Central Asia.
Equipped with state-of-the-art 7 manufacturing facilities and 7 research & development centres across India and US, Advanced Enzymes exports to 45+ countries across 6 continents, and provides customized & effective enzyme solutions coupled with the best in technical advice & superior service.
Advanced Enzymes has received the Bio-Excellence award for being the Best Industrial Biotech Company at Bangalore India Bio in 2010 as well as 2014. In 2013, Advanced Enzymes has also been recognised by Inc. India, as one of the top 500 fastest-growing mid-sized companies in India. Advanced Enzymes has also been recipient of the Emerging India Award in 2010, in the Life Sciences category, by CNBC TV18 and ICICI Bank. Advanced Enzymes has also been awarded for Best IPO at IR Society Awards 2017, by Investor Relation Society of India in association with BSE, KPMG India and Bloomberg.
This press release may contain forward‐looking statements with respect to Advanced Enzyme Technologies’ future (financial) performance and position. Such statements are based on current expectations, estimates and information currently available to the company.
Advanced Enzyme Technologies Limited cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. The company has no obligation to update the statements contained in this press release, unless required by law.