Shares of Advanced Enzyme Technologies Ltd slumped in Monday's trade after the small-cap biotechnology firm posted weak second-quarter results. The stock tanked 11.85 per cent to hit a day low of Rs 428. It was last seen trading 11.51 per cent down at Rs 429.65. At this price, it has climbed 14.96 per cent in 2024 so far.
During the quarter ended on September 30, 2024 (Q2 FY25), the company's profit after tax (PAT) de-grew by 5 per cent and came in at Rs 33.4 crore as compared to Rs 35.2 crore in the year-ago period. Consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) in Q2 FY25 stood at Rs 42.4 crore as against Rs 51.3 crore in the corresponding period last year, marking a drop of 17 per cent. EBITDA margin was at 29 per cent.
Revenue from operations on consolidated basis slipped to Rs 146.1 crore in the Q2 FY25 from Rs 157.8 crore in Q2 FY24, registering a de-growth of 7 per cent.
"The Bio-Processing segment underperformed by 31 per cent during the quarter, it accounted for Rs 16.8 crore in Q2 FY25 as compared to Rs 24.3 crore in Q2 FY24. In this segment, food business de-grew by 42 per cent to Rs 11.6 crore on year-on-year (YoY) basis during Q2 FY25. The Non-Food business grew by 24 per cent to Rs 5.1 crore during the quarter," the company stated.
"The revenue from human nutrition segment decreased by 6 per cent to Rs 99.2 crore in Q2 FY25 as compared to Rs 105.9 crore in Q2 FY24. The total revenue comprises of International sales amounting to Rs 75.8 crore in Q2 FY25 as compared to Rs 75 crore in Q2 FY24, an increase of 1 per cent. The revenue increased by 21 per cent in Americas while there is de-growth of 35 per cent in Europe, 25 per cent in Asia (ex-India) and 49 per cent in the rest of the world," Advanced Enzyme added.
On the stock-specific front, the counter saw high trading volume on BSE today as around 26,000 shares were changing hands. The figure was higher than the two-week average volume of 10,000 shares. Turnover on the counter came at Rs 1.12 crore, commanding a market capitalisation (m-cap) of Rs 4,794.09 crore.
Advanced Enzyme shares traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs) but higher than the 150-day and 200-day SMAs. The scrip's 14-day relative strength index (RSI) came at 36.29. A level below 30 is defined as oversold while a value above 70 is considered overbought.
According to BSE data, the company's stock has a price-to-equity (P/E) ratio of 55.16 against a price-to-book (P/B) value of 9.35. Earnings per share (EPS) stood at 8.80 with a return on equity (RoE) of 16.96.
As of September 2024, promoters held a 42.95 per cent stake in the company.