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Last Updated : Feb 23, 2017 05:49 PM IST | Source: Moneycontrol.com

Buy Advanced Enzyme Technologies; target of Rs 1850: Axis Direct

Axis Direct is bullish on Advanced Enzyme Technologies has recommended buy rating on the stock with a target price of Rs 1850 in its research report dated February 21, 2017.

 
 
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Axis Direct's report on Advanced Enzyme Technologies


Advanced Enzyme’s (AETL) Q3FY17 revenue declined 19% YoY and PAT declined 28% YoY; this was a negative surprise. However, on 9MFY17 basis, revenue grew 15% YoY and PAT grew 35% YoY.


Outlook


Such as (a) patented enzyme for palm oil extraction in Indonesia – USD 3 bn opportunity, and (b) entry in detergent enzymes (USD 1.3 bn market), augur well for future growth. Maintain BUY.

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First Published on Feb 23, 2017 05:49 pm
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