Advanced Enzymes Technologies shares: Advanced Enzymes plunges 7% after tepid results


New Delhi: Shares of Advanced Enzymes Technologies tanked as much as 7 per cent on Monday as the company reported a decline in its revenues and profit on a sequential basis. The bottomline remained flat during the March 2021 quarter on a year-on-year (YoY) basis.

The net profit in the March quarter was flat, up by just one per cent at Rs 31.68 crore, compared to 31.33 crore in the same quarter previous year. However, the profit fell 26 per cent on a sequential basis compared to Rs 43.09 crore in the quarter ended on December 31, 2021.

The scrip fell 7 per cent to Rs 426 on Monday, recovering to Rs 436.85 at 10.55 am. BSE Sensex was up by 299.23 points or 0.58 per cent at 51,722.11 the same time. The counter settled at Rs 457.95 in the previous session.

Advanced Enzymes reported a 20.82 per cent YoY increase in consolidated revenues for the March 2021 quarter at Rs 133.22 crore, compared to Rs 11.26 crore in the corresponding quarter a year ago. However, the company clocked an income of Rs 137.74 crore in the December 2020 quarter.

Net margins at 23.78% for March 2021 quarter was lower than 28.41% in the March 2020 quarter. NPM was also lower by 750 basis points on a sequential basis as compared to the December 2020 quarter.

Net margins of the company declined in March 2021 to 23.78 per cent from 28.41 per cent in the same quarter previous year. EPS inched up marginally to Rs 2.83 from Rs 2.80.

Shares of Advanced Enzyme have trebled in the last one year from Rs 149.10 on May 29, 2020 to Rs 503 in the previous week. However, the counter is trading 15 per cent lower than its recent 52-week high.

In the financial year ended on March 31, 2021, the revenues of Advanced Enzymes surged 13 per cent to Rs 501.84 crore.



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