Budget 2023Budget 2023


  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Hold Advanced Enzyme Technologies; target of Rs 300: ICICI Direct

ICICI Direct recommended hold rating on Advanced Enzyme Technologies with a target price of Rs 300 in its research report dated November 22, 2022.

November 23, 2022 / 11:58 AM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Advanced Enzyme Technologies

Advanced Enzyme Technologies (AET) is a focused, research driven Indian enzymes company with a product basket of 400+ proprietary products developed from 68 indigenous enzymes and probiotics. The business is divided into three segments - 1) human healthcare, 2) animal healthcare and 3) industrial processing business • It has nine manufacturing and seven R&D facilities, which consist of three integrated fermentations, recovery & formulation facilities, one extraction and recovery facility and one satellite blending, mixing & formulation facility.


We upgrade the stock from REDUCE to HOLD with a neutral stance as we wait for 1) consistency in core businesses 2) improvement in margin profile. We value AET at Rs 300 i.e. 22x FY24E EPS of Rs 13.6.