Shares of this healthcare stock under the ‘small-cap’ category gained up to 7 percent in Monday’s trading session after the company announced financial results for the quarter ended December 2023. In the past six months, the company’s stock has gained nearly 20 percent for its stakeholders.
With a market capitalization of Rs 4,340.45 crores, the stocks of Advanced Enzyme Technologies Limited started their trading session on Monday at Rs 404.50 and currently trade at Rs 388.15.
The company’s scrip witnessed an intra-day high, also marked as the fresh 52-week high level, of Rs 406.15 gaining around 7 percent compared to the previous closing levels of Rs 381.10 apiece.
Such bullish share price movements are observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced financial results for Q3FY23-24, i.e., for the December 2023 quarter.
Sequentially, the prime indicators of business, viz, operating revenues as well as after-tax profits, showed marginal up movements with the former increasing from Rs 158 crores during Q2FY24 to Rs 161 crores during Q3FY24, and the latter, keeping the timeframe the same, moving from Rs 35 crores to Rs 43 crores.
On a YoY basis, the metrics mentioned above have shown good performance with the operating revenues increasing from Rs 142 crores during Q3FY23 to Rs 161 crores during Q3FY24, and the after-tax profits, during the same period, taking a shift from Rs 28 crores to Rs 43 crores exhibiting a gain of around 55 percent.
As per the investor presentations during the recent period, the company showcased a geographical revenue split with 47 percent from Indian operations, 35 percent from American regions, 7 percent from European operations, and the remaining 11 percent from Asian and other operations across the globe.
According to the latest shareholding pattern for the December 2023 quarter, the company’s Promoters hold a 43.62 percent stake, and the Foreign Institutional Investors, marginally increasing their stake, currently hold a considerable stake of 22.54 percent stake in the company.
Advanced Enzyme Technologies Limited is a company based in India that is engaged in the business of research activities to manufacture and sell enzymes. The company offers enzymes for human healthcare, animal nutrition, food & non-food processing, etc. Some of the products offered by the company are fungal lipase, papain, and hemicellulose among others.
Written by Amit Madnani
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