Buy Advanced Enzyme Technologies, target price Rs 350: Prabhudas Lilladher

Prabhudas Lilladher has buy call on Advanced Enzyme Technologies with a target price of Rs 350. The current market price of Advanced Enzyme Technologies is Rs 293.05.


Advanced Enzyme Technologies Ltd., incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 3272.58 Crore) operating in Agriculture/Horticulture/Livestock sector.


Advanced Enzyme Technologies Ltd. key Products/Revenue Segments include Enzymes and Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 123.12 Crore, down -8.88 % from last quarter Total Income of Rs 135.12 Crore and down -10.75 % from last year same quarter Total Income of Rs 137.95 Crore. Company reported net profit after tax of Rs 17.58 Crore in latest quarter.

Investment Rationale
The stock has corrected from the level of 503 to consolidate at around 250 levels and with the positive candle pattern formed, the stock looks potentially poised for an upside bounce. . The RSI indicator is positive , the brokerage recommends a buy in this stock for an upside target of 380 keeping a stop loss of 280.

Promoter/FII Holdings
Promoters held 52.55 per cent stake in the company as of 30-Sep-2021, while FIIs owned 16.27 per cent, DIIs 8.67 per cent.