BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Overall for FY24, Advanced Enzyme Technologies Ltd.'s management has guided for ~15% revenue growth and improvement in margin compared to FY23.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
While in a normal environment, the management's aspiration is to clock ~15-20% revenue compound annual growth rate with Ebitda margin of ~40%, it is still away from normalcy, in our view.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Overall, we are building in revenue/Ebitda/adjusted profit after tax CAGR of 17%/31%/24% over FY23-FY25E.
We maintain 'Accumulate' with a revised target price of Rs 320 (earlier Rs 300) post earnings revision.
We continue to value Advanced Enzyme at 20 times price-to-earning i.e. a significant discount to Novozymes' (global leader in industrial enzymes) valuation primarily on account of lower-than-expected growth delivery and rising competition.
A meaningful acquisition(s) and/or strengthening of the leadership team could be some of the re-rating triggers, in our view.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
