Advanced Enzyme Technologies Ltd - Stock Valuation and Financial Performance

BSE: 540025 | NSE: ADVENZYMES | Pharmaceuticals & Drugs | Small Cap

Advanced Enzyme Share Price

290.25 -5.80 -1.96%
as on 21-Feb'25 16:59

DeciZen - make an informed investing decision on Advanced Enzyme

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Advanced Enzyme Technologies stock performance -

P/E Ratio (SA):
34.36
Market Cap:
3,247.3 Cr.
52-wk low:
292
52-wk high:
571.2

Is Advanced Enzyme Technologies Ltd an attractive stock to invest in?

1. Is Advanced Enzyme Technologies Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Advanced Enzyme Technologies Ltd is a good quality company.

2. Is Advanced Enzyme Technologies Ltd undervalued or overvalued?

The key valuation ratios of Advanced Enzyme Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Advanced Enzyme Technologies Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Advanced Enzyme Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Advanced Enzyme:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Advanced Enzyme Technologies Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 13.8%14.3%18.1%15.1%14.9%21.5%24.2%15.8%14.8%24.3%-
Value Creation
Index
0.00.00.30.10.10.50.70.10.10.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 126139173212222247283273312365357
Sales YoY Gr.-10.5%24.1%22.8%4.7%11.4%14.6%-3.8%14.2%17.3%-
Adj EPS 1.923.13.23.25.26.34.8510.88.5
YoY Gr.-5.9%58.1%1.9%-0.9%64.6%21.7%-24.2%3.3%118.4%-
BVPS (₹) 14.31622.825.628.332.938.742.94751.655.2
Adj Net
Profit
20.421.634.935.635.358.170.753.755.512195
Cash Flow from Ops. 33.522.321.122.635.44684.237.150.355.8-
Debt/CF from Ops. 1.22.21.820.60.20000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.6%10.5%8.8%17.3%
Adj EPS 21.6%27.9%19.6%118.4%
BVPS15.3%12.8%10.1%9.9%
Share Price - 12.4% 1.6% -27.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
13.913.116.313.111.616.817.611.71121.915.8
Op. Profit
Mgn %
28.126.828.423.323.931.535.726.724.428.824.1
Net Profit
Mgn %
16.215.520.216.815.923.52519.717.833.126.5
Debt to
Equity
0.30.30.20.20.100000-
Working Cap
Days
236224199205234223203230220194136
Cash Conv.
Cycle
142134125113113120106124126128112

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 15.80%

Net Profit is growing at healthy rate in last 3 years 19.60%

Sales growth has been subdued in last 3 years 8.84%

Sales growth is not so good in last 4 quarters at 0.86%

Latest Financials - Advanced Enzyme Technologies Ltd.

Standalone Consolidated
TTM EPS (₹) 8.5 11.9
TTM Sales (₹ Cr.) 357 628
BVPS (₹.) 55.2 123.4
Reserves (₹ Cr.) 595 1,358
P/BV 5.26 2.35
PE 34.36 24.43
From the Market
52 Week Low / High (₹) 292.00 / 571.15
All Time Low / High (₹) 91.05 / 571.15
Market Cap (₹ Cr.) 3,247
Equity (₹ Cr.) 22.4
Face Value (₹) 2
Industry PE 37.5

Quarterly Results

 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.) 369 7.6366 4382 10.3388 10.8
Adj EPS (₹) 2.1 505.71.6 54.52.4 104.22.4 106.8
Op. Profit Mgn % 3.73 63 bps3.75 -9 bps4.99 325 bps4.93 312 bps
Net Profit Mgn % 3.85 331 bps2.86 133 bps4.25 196 bps4.17 195 bps

Management X-Ray of Advanced Enzyme:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:42.93%Institutions:20.75%Non-Institutions:36.32%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%10%20%30%40%50%60%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Advanced Enzyme

MRP
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MOS
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DP
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Base EPS
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DPS
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MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

Advanced Enzyme Technologies: Stock Pulse - 03 Apr 2024

About the Company

Advanced Enzyme Technologies operates as a fully integrated enzyme manufacturing entity, with a significant emphasis on research and development (R&D), spanning various enzyme-related domains. While the company boasts the capability to produce enzymes from all four natural origins - plant, animal, bacterial, and fungal - its primary focus is on developing enzymes through microbial fermentation. As India's largest integrated enzyme manufacturer, Advanced Enzyme Technologies holds the second-highest market share in the country. The company boasts a diverse product portfolio, comprising over 400 proprietary products derived from 68 enzymes and probiotics.

Enzymes serve as biological catalysts, accelerating biochemical reactions within living organisms. They can be extracted from cells and applied to catalyze a broad spectrum of commercially significant processes. For instance, enzymes are crucial in the production of sweetening agents and the modification of antibiotics. They find utility in washing powders and diverse cleaning products, contributing to enhanced efficiency in removing stains and dirt. Additionally, enzymes play a pivotal role in analytical devices and assays utilized in clinical, forensic, and environmental applications, facilitating accurate detection and analysis.

The company has four business segments: (a) Human Healthcare and Nutrition, (b) Industrial bioprocessing, (c) Animal nutrition, (d) Specialised Manufacturing. Additionally, the company has a global presence and generates revenue from both Indian and international markets.

How has the company performed historically?

The past five years have presented significant challenges for the company. In FY23, there was a substantial increase in raw material prices, including soya, edible oil, and solvents like glycerine, phosphorus salts, and lithium, rising between 3-4 times. These price hikes were primarily driven by supply chain disruptions and escalated logistic costs, resulting in a decline in gross margins from 79% in FY22 to 76% in FY23. Moreover, fuel prices, including coal, surged by 2-3 times, further contributing to the escalation in manufacturing costs.

Overall, between FY19 and FY23, operating margins witnessed a notable decline of 15%, dropping from 44% in FY19 to 29% in FY23. These challenges underscore the significant impact of rising raw material and fuel prices on the company's profitability over the past five years.

The operating deleverage was combined with low sales growth of 6.5% between FY19 and FY23. These problems have been accompanied by the exit of one of the promoters, C.L. Rathi, who has now become the promoter of Advanced Vital Enzymes (Advenza), a direct competitor to Advanced Enzyme Technologies.

Understanding the Business

Human Health and Nutrition: This segment encompasses a diverse array of products, spanning anti-inflammatory, pro-digestion, and probiotic formulations, catering to a wide range of customers. These enzymes serve as active ingredients in pharmaceutical and nutraceutical formulations utilized by various clients. Key customers in this business vertical include Sanofi India, Cipla, Ipca Laboratories, Alkem Laboratories, and Emcure Pharmaceuticals.

The anti-inflammatory offering stands out as the largest revenue contributor, representing approximately 24% of sales in FY23. However, the segment's growth has experienced a modest annualized rate of 3% between FY19 and FY23, primarily attributable to a decline in revenue from the United States market.

Animal Nutrition: This segment comprises enzyme-based feed additives tailored for animal nutrition, offering essential nutrients that aid in digestion for animals. These additives promote cost-effective feed solutions, minimize animal waste, and contribute to environmental pollution mitigation. This segment has grown at an annualised rate of 10% between FY19 and FY23.

Industrial Bioprocessing: This segment involves harnessing living organisms and their components to innovate new products, offering a natural, secure, and effective approach to manufacturing. The company's industrial bioprocessing, a specialized branch of chemical engineering, concentrates on developing and producing a diverse range of products in sectors such as agriculture, polymers, and beyond. This segment has grown at an annualised rate of 12% between FY19 and FY23.

Specialised Manufacturing: This segment was introduced to the revenue stream in FY22 following the acquisition of SciTech Specialties (SSPL). This segment utilizes a unique technology known as effervescent technology to produce a variety of products for diverse industries, including health supplements, medicine, baking, cleaning solutions, and other specialized applications. Notably, these products dissolve rapidly and demonstrate effective performance.

What are the growth and margin prospects of the company?

Margins: The current margins have fallen due to an increase in raw material and power costs as previously mentioned. The raw material prices have softened over the last few quarters. Moreover, as the company undertakes new contracts, raw material costs are expected to be passed on to the customers. 

The increase in general costs as a percentage of revenue can be attributed to the lack of increase in revenue to offset such costs as a percentage. As revenue from the United States and human nutrition increases, the percentage of general costs should reduce, bringing the operating margins back to 40% plus levels as witnessed historically. This is attributable to a lag effect as costs are frontloaded.

Revenue Growth: 

While the growth over the last few years has been low primarily due to fall in revenue in the human nutrition business, this segment has begun recovering over the last few quarters. The growth is backed by new product launches, demand revival in end user markets, increased research & development along with acquisitions and strategic investments.

On a 9 month basis, the revenue grew by 16%. The human nutrition segment grew by 18% in 9MFY24 while bioprocessing and specialised manufacturing have grown at 17% and 30% respectively. While the animal nutrition segment has not grown on a 9 month basis, we believe that the business is strong and will continue to grow despite such fluctuations. This segment is currently the smallest and therefore, the reduction in revenue does not harm the overall growth prospects of the business unlike the earlier impact of revenue reduction in human nutrition witnessed in FY22 and FY23.

What is the competitive environment for Advanced Enzyme Technologies?

Threat of alternatives: The enzyme industry is benefitting from a shift in end consumer perceptions about the safety and use of biological inputs versus chemical inputs. As a result, players like Advanced Enzymes are increasingly replacing chemical inputs in the human and animal nutrition industry as well as pharmaceutical industry. This is one of the most important tailwinds, positioning the company positively with respect to substitutes. 

Threat of competition: While the company is the largest manufacturer in India, it competes in a global market where it is among the top 15. The largest player in the market is Novonesis, created through the merger of Novozymes and Chr Hansen. Novonesis, DSM-Firmenich, BASF and other large players account for more than 75% of the total market size. However, the larger players do not compete directly with Advanced Enzymes. This is due to: 

  1. Niche products: Advanced enzymes manufactures niche products for particular clients, making the effective market quite small for such large players.
  2. High gestation periods: The product approval cycle for enzymes is high due to the regulated nature of the business while research and development is an additional time consuming factor. Moreover, enzymes account for a small portion of overall costs, making switching based on pricing unlikely given the regulatory effort and risk involved.
  3. Market differentiation: Novonesis is the global leader in industrial enzymes with ~50% market share, pharmaceuticals is not its key focus area and hence direct competition is limited. It is focused on industrial enzymes where Advanced Enzymes does not materially compete.

 

Advanced Enzyme Technologies: Q2FY24 result update - 27 Nov 2023

                        

Particulars

Q2FY24 (Rs. Crs)

YoY Trend

Comments

Revenue

158

+14%

On back of 13/26% growth in human nutrition/industrial bioprocessing segment 
EBITDA

51

+28%

Better gross margins QoQ/YoY as raw material prices reverted 
EBITDA Margin

32%

+350bps

 
PAT

35

+35%

Aided by higher other income 

Good results, and margin recovery sequentially point towards a healthy future outlook. 

Advance Enzymes: Q1FY24 Result Update - 19 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

147

+22%

 Major segments contributed to growth; 23% in Human   nutrition segment and 22% in Industrial bio processing 

EBITDA

44

+41%

 

EBITDA Margin

30%

+431 bps

 Unusually low base in Q1FY23; minor decline QoQ

PAT

29

+61%

 Other income also aided margins 

Good results, as guided by management earlier- growth is without compromising margins further.

 

Advanced Enzyme: Q4FY23 Result Update - 19 May 2023

 

 

Q4FY23

YOY (%)

Comment

Revenue

139

5.3

The Human Nutrition segment, which contributes ~63% to overall revenue and even higher in terms of profit, continued to witness weakness on account of recessionary trends in the USA and inventory pile-up at customers’ end. Ex-Human Nutrition, the portfolio grew by 13% YoY in 4QFY23.

EBITDA

44

9.5

 

EBITDA Margin

31.8%

122bps

 

PAT

32

27

 

At Par Result, US business to drive forward margins.

 

Key Ratios of Advanced Enzyme

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Alembic Pharma 802.8 -10.6 (-1.3%) Small Cap 6,229 30.8 9.6 26.4 3.2
Laurus Labs 521.1 -15.4 (-2.9%) Small Cap 5,041 3.7 3.1 144.5 6.9
Piramal Pharma 208.6 -9.5 (-4.3%) Small Cap 4,390 5.2 8.4 42.1 4.1
Ajanta Pharma 2,607.3 -63.1 (-2.4%) Small Cap 4,209 71.9 19 37.2 8.5
Gland Pharma 1,524.3 3.9 (0.3%) Small Cap 4,167 68.1 24.8 22.3 2.7
Natco Pharma 797.8 4.8 (0.6%) Small Cap 3,999 104.1 34.5 7.6 2
Granules India 509 -18.4 (-3.5%) Small Cap 3,755 13.3 11.7 39.7 3.9
Emcure Pharma 996.8 5.2 (0.5%) Small Cap 3,498 8.5 4.4 116.8 6.5
JB Chem & Pharma 1,605.5 -25 (-1.5%) Small Cap 3,299 40.4 16.1 40.4 7.7
Sanofi India 5,076.8 -91.3 (-1.8%) Small Cap 2,851 184.4 20.8 28 15.5
Shows rows:

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales126139173212222247283273312365
Operating Expenses 92103124163169170183200236260
Manufacturing Costs19191819182021303441
Material Costs3744628686899699123132
Employee Cost 19242732333334394150
Other Costs 17161726332931323837
Operating Profit 3436494953771017375105
Operating Profit Margin (%) 26.8%26.1%28.1%23.3%23.8%31.1%35.6%26.7%24.1%28.8%
Other Income 116669791059
Interest 5433310000
Depreciation 8788999101011
Exceptional Items 000000000-19
Profit Before Tax 222544444776987274134
Tax 3598121827181926
Profit After Tax 192135363558715556108
PAT Margin (%) 15.3%15.0%20.0%16.9%15.9%23.4%25.1%20.0%17.8%29.6%
Adjusted EPS (₹)1.81.93.13.23.25.26.44.95.09.7
Dividend Payout Ratio (%)6%10%13%16%19%12%14%21%20%53%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 156174255286316367433480525577
Share Capital 22222222222222222222
Reserves 134152233264294345410457503555
Minority Interest0000000000
Debt284533401890000
Long Term Debt516128210000
Short Term Debt222921321780000
Trade Payables89821161423201822
Others Liabilities 31322125263334303234
Total Liabilities 222261318373376423490530576633

Fixed Assets

Gross Block167170107114122160174183204213
Accumulated Depreciation6269816243342516171
Net Fixed Assets106101989897127132132143142
CWIP 47810710791122
Investments 2753103120120121184189201256
Inventories39475155596063807797
Trade Receivables25233139385255496775
Cash Equivalents 1210132182519
Others Assets20282551545046525222
Total Assets 222261318373376423490530576633

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 33222123354684375056
PBT 222544444776987274134
Adjustment 14116973425-24
Changes in Working Capital 3-9-19-21-6-209-15-13-27
Tax Paid -6-6-10-9-12-13-27-21-16-27
Cash Flow From Investing Activity -7-27-55-22-2-25-70-14-42-7
Capex -4-1-7-7-4-41-9-9-23-21
Net Investments 0-26-51-160-1-63-9-22-40
Others -313221734354
Cash Flow From Financing Activity -27434-1-33-19-15-11-12-57
Net Proceeds from Shares 00470000000
Net Proceeds from Borrowing -134-3-4-9-1-2000
Interest Paid -4-4-3-3-2-10000
Dividend Paid -1-30-5-6-8-7-10-11-56
Others -97-811-16-9-7-1-1-1
Net Cash Flow -100002-112-4-8
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)13.1312.6616.1113.2611.716.9817.7611.9511.0519.61
ROCE (%)13.7714.3118.0615.0714.8521.4524.1615.7814.8324.3
Asset Turnover Ratio0.590.620.640.620.590.620.630.540.570.61
PAT to CFO Conversion(x)1.741.050.60.6410.791.180.670.890.52
Working Capital Days
Receivable Days73585359636668696871
Inventory Days1041079890938778969287
Payable Days82695163786069795755

Advanced Enzyme Technologies Ltd Stock News

Advanced Enzyme Technologies Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Advanced Enzyme on 21-Feb-2025 16:59 is ₹290.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Feb-2025 16:59 the market cap of Advanced Enzyme stood at ₹3,247.3.
The latest P/E ratio of Advanced Enzyme as of 21-Feb-2025 16:59 is 34.36.
The latest P/B ratio of Advanced Enzyme as of 21-Feb-2025 16:59 is 5.26.
The 52-week high of Advanced Enzyme is ₹571.1 and the 52-week low is ₹292.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Advanced Enzyme is ₹356.6 ( Cr.) .

About Advanced Enzyme Technologies Ltd

The company was incorporated as a private limited company on March 15, 1989 under the provisions of the Companies Act, 1956 as Advanced Biochemicals Private Limited in Maharashtra. Pursuant to a special resolution passed by the shareholders of the Company at the extra-ordinary general meeting held on April 21, 1992, the Company was converted into a public limited company and consequently the name of the Company was changed to Advanced Biochemicals Limited. A fresh certificate of change of name reflecting the new name was issued by the Registrar of Companies, Maharashtra on May 28, 1992. Pursuant to a special resolution passed by the shareholders of their Company at the extra-ordinary general meeting held on August 8, 2005, the name of Company was further changed from Advanced Biochemicals Limited to Advanced Enzyme Technologies Limited. A fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies, Maharashtra, Mumbai on August 19, 2005.

Advanced Enzymes is a research driven company with global leadership in manufacturing of enzymes and probiotics. It is the largest Indian enzyme company engaged in the research and development, manufacturing and marketing of huge proprietary products developed from various indigenous enzymes & probiotics. The company’s aim is to help consumers’ access side-effect free healthcare, help farmers enhance nutrition for animals, and also to help the industry replace traditional thermal-chemical-mechanical processes into enzyme passed processes.

Business area of the company

The company is a fully integrated enzyme manufacturing company driven by extensive focus on research and development (R&D) of various enzymes, enzyme blends, enzyme products and customized enzyme solutions. Its experienced and qualified R&D team strives to develop creative, cost-effective unique and innovative solutions, thereby enabling their customers to develop superior products and processes. The company products assist its customers in making most of their resources, optimizing their processes, improving their product quality, saving their time and money while also mitigating the impact on the environment. It supplies these value-added and eco-safe enzyme products to diverse end-user industries like human healthcare and nutrition, animal nutrition, food processing, baking, dairy and cheese processing, fruit and vegetable processing, cereal extraction, brewing, grain processing, protein processing, oil and fat processing, biomass processing, textile processing, leather processing, paper & pulp processing, bio-fuels, bio-catalysis etc. Although, the company has the capability to manufacture enzymes using all the four natural origins viz. plant, animal, bacterial and fungal, their major focus is on developing enzymes through microbial fermentation.

Products & Solutions

Human Nutrition: The company’s enzymes are being used by a wide range of customers globally as active ingredients in their pharmaceutical and nutraceutical formulations.

Animal Nutrition: By adding its enzymes to feed, the digestibility of the feed components can be enhanced considerably.

Food Processing: The company’s enzymes play an essential role in bringing more nutrition and appeal to food & beverages products, offering significant benefits beyond the scope of traditional alternatives.

Non-Food Processing: AETL offers eco-safe solutions for a variety of industries such as textiles, leather, detergent, paper & pulp which are used in manufacturing a wide range of products.

Awards

  • 2010: Advanced Enzymes receives Bio-Excellence in Industrial Biotech!
  • 2010: Advanced Enzymes wins the ‘Emerging India Awards 2010’ for Life sciences-Pharmaceuticals & Chemicals segment
  • 2011: Dr. Anil Gupta, General Manager - R&D receives the 2011 Business Leader Award from CHEMTECH foundation
  • 2012: Advanced Enzymes Technologies Limited-received most innovative exporter's award at 'ECGC organized - D&B Indian Exporters Excellence awards.
  • 2013: Advanced Enzymes ranked amongst India’s Fastest-Growing Mid-Sized Cos.
  • 2014: Advanced Enzymes receives Inc. India 500
  • 2014: Advanced Enzymes receives Bio-Excellence in Industrial Biotech
  • 2016: Advanced Enzymes Receives Best Nutraceutical Company of the Year Award
  • 2017: Best IPO Award by IR Society
  • 2018: FE CFO Awards 2018

History and Milestones

  • 1958: Mr. L.C. Rathi sets up India's first enzyme manufacturing plant.
  • 1978: Mr. L.C. Rathi pioneered the production of an enzyme called Papain.
  • 1986L: Acquisition of Super Organic Research Laboratories (SORL) to begin extraction of several commercial enzymes.
  • 1989: Establishment of Rathi Papains Pvt. Ltd. with Mr. L.C.Rathi and Mrs. Savita Rathi as it's founding directors.
  • 1989: Advanced Biochemicals Private Ltd is incorporated to offer global and holistic enzyme solutions.
  • 1991: Advanced Biochemicals commissioned its first fermentation facility at Sinnar, Maharashtra
  • 1992: Advanced Biochemicals is converted from a private company to a public company and renamed as Advanced Biochemicals Limited
  • 1993: Advanced Biochemicals sets up fermentation-based enzyme manufacturing plant with the help of foreign collaboration.
  • 1994: SORL is merged with Advanced Biochemicals Ltd
  • 1996: Advanced Biochemicals sets up a dedicated Application Research facility.
  • 1997: Advanced Biochemicals turns around and reports its first profits.
  • 2001: Advanced Biochemicals' in-house R&D labs at Thane and Sinnar are recognized by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India.
  • 2003: Sinnar Factory receives ISO 9001:2000 Systems certification.
  • 2004: Advanced Biochemicals is ranked as the largest domestic manufacturer of Industrial Enzymes.
    Advanced Biochemicals files its first patent.
  • 2005: Advanced Biochemicals Limited is renamed as Advanced Enzyme Technologies Limited (or Advanced Enzymes).
  • 2005: Sinnar Factory receives WHO CGMP certification.
  • 2006: Advanced Enzymes acquires 10 Acre land at Pitampur SEZ near Indore to setup state-of-the-art export oriented facility.
  • 2007: Phase I of the export oriented fermentation facility is completed at Pitampur SEZ near Indore.
  • 2008: Advanced Enzytech Solutions Ltd (Enzytech) is established as a subsidiary of Advanced Enzymes to cover non-food processing divisions.
  • 2009: Advanced Enzyme Far East Ltd., a subsidiary of Advanced Enzymes is dedicated to serving the Chinese market.
  • 2010: Advanced Enzymes is honoured with the 'Emerging India Awards 2010' for Life Science - Pharmaceuticals & Chemicals segment organized by ICICI Business Banking and CNBC TV18.
  • 2010: Advanced Enzymes receives the Bio-Excellence 2010 award as the Best Industrial Biotech Company of the year by the department of IT-BT & ST, Govt. of Karnataka.
  • 2011: Advanced Enzymes expands its presence in the US with the takeover of Cal India Foods International (Specialty Enzymes and Biotechnologies) as a step down subsidiary.
  • 2012: Advanced Enzymes consolidates it presence in the US with the take over of Advanced Supplementary Technologies Corporation as a step down subsidiary.
  • 2012: Advanced Enzymes is awarded 1st runner-up as the Most Innovative Exporter by ECGC - D&B Indian Exporters' Excellence Awards 2012.
  • 2012: Phase II of fermentation facility is inaugurated at Pitampur SEZ near Indore.
  • 2012: Advanced Enzymes receives its first US patent.
  • 2013: Advanced Enzymes is ranked amongst the top 500 as part of Inc. India's fastest-growing mid-sized companies' list for 2012.
  • 2014: Advanced Enzymes has received the Bio-Excellence award for being the Best Industrial Biotech Company at Bangalore India Bio 2014 event - the premier Biotechnology event in the country.
  • 2014: Advanced Enzymes is ranked amongst the top 500 of India’s fastest-growing mid-sized companies list for 2013 by Inc. India.
  • 2016: Conducts IPO & lists itself on the Indian Stock Exchanges.
  • 2016: Acquires majority stake in JC Biotech.
  • 2017: Acquired 100% stake in a German based company evoxx technologies GmbH.
  • 2017: GRAS dossier was filed with USFDA
  • 2018: 4 food enzymes got approved as a processing aid with Food Safety Standard Authority of India (FSSAI)
  • 2018: 4 enzymes are registered with REACH –ECHA (European Chemical Agency)
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