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Advanced Enzyme Technologies

BSE: 540025|NSE: ADVENZYMES|ISIN: INE837H01020|SECTOR: Pharmaceuticals
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Chairman's Speech (Advanced Enzyme Technologies) Year : Mar '18

Dear Shareholders,

FY18 has been an important year for us. Your Company has made steady, but sure-shot progress.

In FY18, our operating revenues have grown 15% to Rs, 3.96 billion, our EBITDA has grown 8% to Rs, 1.65 billion, and our PAT has grown to Rs, 936 million. The Human Nutrition segment contributed to about 76% of the revenue, followed by Animal Nutrition and Bio Processing segments, with 13% and 11% respectively. Your Company has maintained healthy EBITDA and PAT margins in the year gone by, at 42% and 24% respectively.

While we''ve made good progress in growing the size of our business, we''ve also expanded our balance sheet, and maintained a tight rein on our debt. As of 30th June 2018, the gross debt in the company stood at Rs, 655 million, while the total cash stood at Rs, 932 million. The company intends to pay off certain portion of the debt using the surplus cash available on the balance sheet.

We expect to continue investing into Research & Development, as that is the lifeline of our company. Without innovation there can be no growth. The evoxx acquisition has added tremendously to our strengths, as we build a robust pipeline for the future. The R&D expenditure is expected to go a step up, from Rs, 117 million p.a. to a range of about Rs, 180 to 200 million p.a.

On the Operations front, the capacity utilization continues to be in the 55-60% range. We do not expect any significant capex on this front in the foreseeable future.

On the IT front, the Company has successfully implemented SAP S/4 HANA at the standalone level, and across its Indian subsidiaries. The go-live happened on April 3, 2018, and the FY19 financials will be presented from the new system.

With this implementation, the Company has taken a quantum leap in its efforts to drive operational efficiencies and synergies. In the near future, we also expect to extend this successful experience to our international subsidiaries.

We shall continue to focus on building a stronger Advanced Enzymes, and expect to deliver robust organic growth in FY19.

Thank you for being part of our journey! We look forward to your continued support.

With Best Regards,

C. L. Rathi

Source : Dion Global Solutions Limited
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