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Reduce Advanced Enzyme Technologies; target of Rs 265: ICICI Direct

ICICI Direct recommended reduce rating on Advanced Enzyme Technologies with a target price of Rs 265 in its research report dated August 08, 2022.

August 08, 2022 / 09:51 PM IST
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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.


Downgrade from HOLD to REDUCE as we wait for 1) normalcy to return in core businesses of human nutrition and 2) improvement in margin profile. We value AET at Rs 265 i.e. 22x FY24E EPS of Rs 12.1.


For all recommendations report, click here

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Advanced Enzyme Technologies - 080822 - ic

Broker Research
first published: Aug 8, 2022 09:51 pm
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