The shares of leading enzyme manufacturers gained up to 8 percent after Motilal Oswal Financial Services Ltd bought 1.10 crore equity shares in the company worth Rs 425.54 crore.
With a market capitalization of Rs 4,377.91 crore, the shares of Advanced Enzyme Technologies Ltd closed at Rs 391.50 per share, increased drastically by 3.33 percent as compared to the previous closing price of Rs 378.90 apiece.
As of March 2024, Orbimed Asia III Mauritius Limited, a Foreign Portfolio Investor, had 1.10 crore equity shares, corresponding to 9.88 percent of Advanced Enzyme Technologies Ltd; however, the FII sold the whole holding for an average price of Rs 385 per. Furthermore, Motilal Oswal Financial Services Ltd acquired 1.10 crore equity shares in the firm for Rs 425.54 crore at the same average price.
Looking forward to the company filing, revenue soared by 14 percent from Rs139 crore in Q4FY23 to Rs 158 crore in Q4FY24 but during the same period, the net profit plummed by 6 percent from Rs 32 crore to Rs 30 crore.
During the quarter, the company’s human nutrition business accounted for about 65% of total revenue from operations. The segment increased by 17% from ₹ 877 million in Q4 FY23 to ₹ 1,024 million in Q4 FY24 but decreased by 7% sequentially.
However, during the quarter, the company’s animal nutrition business accounted for about 12% of total revenue from operations. The segment decreased by 10% from ₹ 206 million in Q4 FY23 to ₹ 185 million in Q4 FY24 but climbed by 14% sequentially.
With 9 production plants and 7 R&D units, the firm has the second-greatest market share in India and is the world’s second-largest listed integrated enzyme player.
Advanced Enzyme Technologies Limited is an Indian firm that manufactures enzymes and probiotics. The Company focuses on the research and development, manufacture, and commercialization of nearly 400 products derived from over 68 indigenous enzymes and probiotics.
Written by:- Abhishek Singh
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