1. Opening Hook
Just when global markets are panicking over tariffs, inflation, and vanishing US demand, Advanced Enzyme calmly shows up saying, “Relax, digestion is still essential.” While everyone else is blaming geopolitics, enzymes quietly did their job—breaking down proteins, fats, and a few investor anxieties.
Q2 FY26 wasn’t about flashy headlines or moonshot guidance. It was about steady execution, fat margins, and management politely refusing to overpromise anything beyond “mid-teens growth.” US slowed, Europe surprised, Asia chipped in, and India did the heavy lifting—as usual.
And yes, tariffs loomed large, inquiries dropped, and management dodged strategy questions like Neo in The Matrix. Still, numbers spoke louder than commentary.
Read on. Because beneath the calm tone and cautious guidance, there’s a lot cooking in the enzyme lab.
2. At a Glance
- Revenue up 26% YoY – Growth enzymes clearly more effective than digestive ones.
- EBITDA up 42% YoY – Costs digested faster than revenue.
- EBITDA margin at 33% – Management calls it “new normal,” investors call it comforting.
- PAT up 34% YoY – Profits didn’t just survive tariffs, they thrived.
- US revenue down ~4% – Tariffs: 1, Growth: 0.
- Europe up 51% – Turns out croissants also need enzymes.
3. Management’s Key Commentary
“We have reported good numbers for Q2 FY26, continuing the growth trajectory.”
(Translation: Please ignore the macro noise 😏)
“Human Healthcare remains
the vital part of our portfolio.”
(66% revenue contribution—no surprises here)
“We saw strong growth in bioprocessing driven by food business.”
(Bread and biscuits doing more heavy lifting than pharma this quarter)
“US business has slowed due to tariff-related uncertainties.”
(When inquiries drop from 100 to 5, you don’t need a spreadsheet)
“At worst, tariffs may impact EBITDA by ~2%.”
(Manageable pain, not indigestion)
“We will stick to mid-double digit growth guidance.”
(Optimistic but not reckless 🙂)
“This margin level is the new normal.”
(Pre-COVID margins? Fond memories only)
4. Numbers Decoded
Metric | Q2 FY26 | YoY Change
---------------------------------------------------------
Revenue | ₹1,845 mn | +26%
EBITDA | ₹601 mn | +42%
EBITDA Margin | 33% | +400 bps
PAT | ₹447 mn | +34%
Human Healthcare Revenue | ₹1,212 mn | +22%
Bioprocessing Revenue | ₹255 mn | +52%
Animal Healthcare Revenue | ₹193 mn | +6%
Specialty Manufacturing |