Adani Ports & Special Economic Zone Ltd

Adani Ports & Special Economic Zone Ltd

₹ 1,322 0.93%
22 Apr 12:20 p.m.
About

Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.

Key Points

Business Verticals
The Co.’s business verticals include a comprehensive network of ports & terminals (82% of total revenue), Logistics (8%), SEZ & Ports (6%) and Operations and Maintenance (4%). [1] The integrated service offered by the company has enabled it to forge an alliance with leading business and has evolved to be the market leader of the Indian port Industry. [2]

  • Market Cap 2,85,603 Cr.
  • Current Price 1,322
  • High / Low 1,425 / 656
  • Stock P/E 32.4
  • Book Value 225
  • Dividend Yield 0.37 %
  • ROCE 9.53 %
  • ROE 14.4 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 20.8%
  • Company's median sales growth is 18.7% of last 10 years

Cons

  • Stock is trading at 5.89 times its book value
  • Tax rate seems low
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Marine Port & Services Industry: Miscellaneous

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3,746 3,608 4,557 3,923 4,072 4,141 5,058 5,211 4,786 5,797 6,248 6,646 6,920
1,056 1,303 2,326 1,390 1,473 2,084 2,969 2,320 2,090 2,526 2,558 2,982 2,724
Operating Profit 2,691 2,304 2,231 2,533 2,599 2,057 2,089 2,891 2,696 3,271 3,689 3,664 4,196
OPM % 72% 64% 49% 65% 64% 50% 41% 55% 56% 56% 59% 55% 61%
528 465 421 164 656 608 486 441 285 -884 384 -104 507
Interest 612 633 530 649 668 649 629 577 534 623 633 520 976
Depreciation 594 597 609 783 784 764 840 854 884 845 950 974 985
Profit before tax 2,012 1,539 1,513 1,265 1,804 1,252 1,105 1,900 1,564 919 2,491 2,066 2,741
Tax % 22% 14% 11% 17% 15% 11% -7% 9% 15% -24% 15% 15% 19%
1,577 1,321 1,342 1,050 1,535 1,112 1,177 1,738 1,337 1,141 2,119 1,762 2,208
EPS in Rs 7.69 6.34 6.40 4.87 7.67 5.22 5.48 7.94 6.09 5.36 9.79 8.09 10.22
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,697 3,577 4,830 6,152 7,109 8,439 11,323 10,925 11,873 12,550 17,119 20,852 25,611
952 1,195 1,910 2,250 2,532 3,021 4,166 4,330 5,926 3,862 7,591 9,905 10,791
Operating Profit 1,746 2,382 2,919 3,902 4,577 5,418 7,157 6,596 5,947 8,688 9,528 10,947 14,820
OPM % 65% 67% 60% 63% 64% 64% 63% 60% 50% 69% 56% 52% 58%
34 344 685 686 730 1,037 844 1,289 1,928 1,967 1,832 328 -97
Interest 281 542 977 1,175 1,124 1,116 1,579 1,385 1,951 2,255 2,544 2,363 2,751
Depreciation 316 422 649 912 1,063 1,160 1,188 1,373 1,680 2,107 3,099 3,423 3,754
Profit before tax 1,182 1,762 1,978 2,501 3,119 4,179 5,234 5,126 4,244 6,292 5,717 5,489 8,217
Tax % 8% 7% 12% 7% 9% 7% 30% 21% 11% 20% 13% 2%
1,093 1,639 1,741 2,324 2,856 3,902 3,690 4,045 3,785 5,049 4,953 5,393 7,230
EPS in Rs 5.50 8.10 8.40 11.18 13.99 18.89 17.74 19.27 18.52 24.58 23.13 24.58 33.46
Dividend Payout % 18% 12% 12% 10% 8% 7% 11% 1% 17% 20% 22% 20%
Compounded Sales Growth
10 Years: 19%
5 Years: 13%
3 Years: 21%
TTM: 33%
Compounded Profit Growth
10 Years: 15%
5 Years: 11%
3 Years: 18%
TTM: 68%
Stock Price CAGR
10 Years: 21%
5 Years: 27%
3 Years: 22%
1 Year: 98%
Return on Equity
10 Years: 18%
5 Years: 16%
3 Years: 15%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 401 401 414 414 414 414 414 414 406 406 422 432 432
Reserves 4,412 5,993 8,351 10,351 13,091 17,112 20,489 23,958 25,051 30,035 41,399 44,985 48,261
Preference Capital 3 3 3 3 0 0 258 266 264 272 282 292
17,565 11,617 12,976 17,773 22,342 22,214 22,112 27,446 29,979 35,583 47,653 53,136 50,060
3,536 3,025 2,936 3,544 2,538 3,629 4,217 4,493 6,481 8,557 8,853 14,152 15,369
Total Liabilities 25,914 21,035 24,677 32,082 38,385 43,369 47,233 56,311 61,917 74,582 98,328 112,705 114,123
18,428 11,382 13,163 20,527 20,883 21,054 22,670 28,121 32,715 48,291 62,553 72,838 73,711
CWIP 3,638 2,951 2,025 1,276 1,967 4,514 4,545 4,483 3,216 3,697 4,023 6,814 8,779
Investments 70 222 63 260 545 1,161 1,079 782 1,178 2,236 3,161 7,587 4,935
3,778 6,480 9,426 10,020 14,990 16,641 18,938 22,924 24,808 20,358 28,591 25,466 26,698
Total Assets 25,914 21,035 24,677 32,082 38,385 43,369 47,233 56,311 61,917 74,582 98,328 112,705 114,123

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,200 1,379 1,132 3,057 2,381 4,063 5,608 6,029 7,402 7,556 10,420 11,933
-13,876 -5,136 -2,510 -2,485 -4,153 -2,629 -3,846 -4,368 -749 -14,064 -5,493 -16,939
12,976 4,138 772 -237 2,170 -1,325 -1,889 2,313 -4,256 3,514 -586 -2,734
Net Cash Flow 300 381 -606 335 398 109 -127 3,975 2,397 -2,994 4,341 -7,739

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 41 73 70 76 125 116 139 93 98 85 54 69
Inventory Days
Days Payable
Cash Conversion Cycle 41 73 70 76 125 116 139 93 98 85 54 69
Working Capital Days -186 147 199 106 71 248 244 145 60 23 45 5
ROCE % 10% 11% 14% 14% 13% 14% 17% 14% 12% 14% 11% 10%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
63.79% 63.83% 63.83% 65.55% 66.02% 66.02% 65.13% 61.03% 62.89% 65.53% 65.89% 65.89%
15.72% 15.29% 15.27% 14.26% 14.24% 14.35% 13.77% 17.99% 16.99% 13.83% 14.72% 14.98%
14.84% 15.83% 15.88% 15.32% 15.06% 15.37% 14.46% 13.02% 12.45% 13.27% 12.01% 11.84%
0.03% 0.03% 0.03% 0.03% 0.03% 0.00% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00%
5.62% 5.02% 4.99% 4.84% 4.65% 4.27% 6.62% 7.95% 7.66% 7.37% 7.39% 7.30%
No. of Shareholders 7,16,2716,16,1146,22,2376,26,7917,27,2287,33,1427,32,36010,98,59610,24,1119,44,1669,70,2479,91,001

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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