Buy Advanced Enzyme; target of Rs 230: Equity99
Equity99 is bullish on Advanced Enzyme recommended buy rating on the stock with a target price of Rs 230 in its research report dated May 18, 2020.
May 19, 2020 / 11:04 AM IST
Equity99's research report on Advanced Enzyme
Advanced Enzyme Technologies Limited, incorporated in 1989, is a research driven company with global leadership in the manufacturing of enzymes. The company is committed to provide eco-safe solutions to wide variety of industries like human care and nutrition, animal nutrition, baking, fruit & vegetable processing, brewing & malting, grain processing, protein modification, dairy processing, specialty applications, textile processing, leather processing, paper & pulp processing, biofuels, biomass processing, bio catalysis, etc. The company aims to provide side-effect-free healthcare and eco-safe industrial solutions to its customers globally, and is today, the largest producer of enzymes in Central Asia. Equipped with state-of-the-art 7 manufacturing facilities and 7 research & development locations across India, Germany and US, Advanced Enzymes exports to 45+ countries across 6 continents, and provides customized & effective enzyme solutions coupled with the best in technical advice & superior service to 700+ customers. Company is engaged in the research and development, manufacturing and marketing of 400+ proprietary products developed from over 68 indigenous enzymes and probiotics.
We initiate coverage with a Buy and target price of Rs.230 (16x FY21E EPS). We are closely monitoring company's executions and keep upgrading our forecasts on the basis of earnings.
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