Advanced Enzyme Technologies (ADVENZYMES) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated revenue grew 5% year-over-year to INR 1,545 million, with EBITDA up 16% to INR 512 million and PAT up 19% to INR 350 million; sequentially, revenue declined 2%, EBITDA fell 8%, but PAT rose 17% from the previous quarter.

• FY24 saw revenue rise 15% to INR 6,239 million, EBITDA up 31% to INR 2,045 million, and PAT up 32% to INR 1,370 million year-over-year.

• Standalone and consolidated unaudited Q1 FY25 results were reviewed and approved by the Board and Audit Committee, with auditors expressing an unmodified conclusion.

Financial highlights

• Q1 FY25 EBITDA margin was 33% and PAT margin 23%; EPS increased 19% year-over-year to INR 3.05.

• Consolidated revenue from operations for Q1 FY25 was INR 1,545.24 million, up from INR 1,472.76 million in Q1 FY24; consolidated net profit for Q1 FY25 was INR 349.76 million, up from INR 293.79 million in Q1 FY24.

• Net working capital days increased to 135 in FY24; net worth rose to INR 13,241 million in FY24.

• Standalone revenue for Q1 FY25 was INR 859.57 million, up from INR 853.49 million in Q1 FY24; standalone net profit for Q1 FY25 was INR 670.56 million.

Outlook and guidance

• Management expects robust growth in all segments in H2 FY25, with full-year revenue growth guidance of 12%-14% and margins expected to remain in the 33%-34% range.

• Focus on expanding product portfolio in animal nutrition, probiotics, bio-catalysis, and baking, and strengthening geographical reach, especially in USA, MENA, and Asia.

• Continued investment in R&D and inorganic expansion to drive growth.