Adani Ports &Special

₹827.8 2.3 | 0.3%

WEBSITE BSE:532921 NSE : ADANI PORTS 01 Dec, 16:07

Market Cap ₹178816 Cr.

Stock P/E 28.2

P/B 3.7

Current Price ₹827.8

Book Value ₹ 225.4

Face Value 2

52W High ₹912.1

Dividend Yield 0.6%

52W Low ₹ 395

Edit Ratio

Adani Ports &Special Research see more...

Overview Inc. Year: 1998Industry: Port

Adani Ports and Special Economic Zone Ltd, together with its subsidiaries, develops, operates, and maintains port infrastructure facilities in India. It also engages in the ports related infrastructure improvement activities; and improvement of infrastructure at contiguous Special Economic Zone at Mundra. The enterprise operates 12 ports and terminals with 64 berths to facilitate the handling of dry bulk, liquid cargo, crude oil, packing containers, ro-ro, and task shipment at Mundra, Hazira, Dahej, Dhamra, Vizag, Murmugao, Kattupalli, Ennore, Tuna, Krishnapatnam, Dighi, and Vizhinjam port locations. It additionally presents car logistics, inland waterways, rail operation, warehousing, and agriculture logistics services, as well as operates multi-modal logistics parks; and gives capital, maintenance, and inland water dredging services. In addition, it's miles worried within the operation, improvement, upkeep, development, and extension of software offerings, including electricity distribution; provision of passenger airline, dredging, and warehousing / storage facilities and other associated services, as well as sanatorium and associated services; and possession and operation of harbour tugs, barges, other port crafts, ocean towage, and offshore support vessels, as well as gives marine services, along with pilotage, laying, and protection of buoys. The company was formerly known as Mundra Port and Special Economic Zone Limited and changed its name to Adani Ports and Special Economic Zone Limited in January 2012. Adani Ports and Special Economic Zone Limited become incorporated in 1998 and is established in Ahmedabad, India. Adani Ports and Special Economic Zone Limited was previously a subsidiary of Adani Enterprises Limited.

Adani Ports &Special Share Price

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Peer Comparison

Adani Ports &Special Quarterly Results

#(Fig in Cr.)	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Net Sales	4557	3532	3797	3845	4638	5211	4786	5797	6248	6646
Other Income	382	588	626	573	461	438	265	382	395	305
Total Income	4938	4120	4423	4418	5099	5649	5051	6179	6642	6952
Total Expenditure	2326	1326	1379	1986	2834	2320	2090	2526	2494	2787
Operating Profit	2613	2794	3043	2432	2266	3329	2962	3653	4148	4165
Interest	530	616	667	649	617	577	534	623	633	715
Depreciation	609	621	693	675	724	854	884	845	950	974
Exceptional Income / Expenses	0	-405	0	0	0	0	0	-1273	0	-455
Profit Before Tax	1474	1152	1684	1108	925	1897	1544	912	2566	2020
Provision for Tax	171	219	261	137	-61	163	227	-222	371	304
Profit After Tax	1303	933	1423	970	986	1735	1317	1134	2195	1716
Adjustments	4	19	49	54	86	-57	-1	25	-80	32
Profit After Adjustments	1307	952	1472	1024	1072	1677	1316	1159	2115	1748
Adjusted Earnings Per Share	6.4	4.7	7.2	4.8	5.1	7.9	6.1	5.4	9.8	8.1

Adani Ports &Special Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	3577	4830	6152	7109	8439	11323	10925	11439	12550	17119	20852	23477
Other Income	264	685	686	802	1318	1011	1405	2433	2685	2239	1784	1347
Total Income	3841	5514	6838	7911	9757	12334	12331	13872	15235	19358	22636	24824
Total Expenditure	1201	1910	2250	2535	3025	4499	4334	5934	4566	7594	9905	9897
Operating Profit	2640	3604	4588	5376	6732	7835	7997	7938	10669	11764	12732	14928
Interest	542	977	1175	1194	1393	1257	1428	1951	2255	2560	2594	2505
Depreciation	422	649	912	1063	1160	1188	1373	1680	2107	3099	3423	3653
Exceptional Income / Expenses	0	0	0	0	0	-155	-69	-59	0	-405	-1273	-1728
Profit Before Tax	1677	1978	2501	3119	4179	5234	5126	4244	6292	5717	5489	7042
Provision for Tax	123	237	177	283	287	1544	1081	459	1243	764	96	680
Profit After Tax	1554	1741	2324	2837	3892	3690	4045	3785	5049	4953	5393	6362
Adjustments	70	-1	-10	61	19	-16	-55	-21	-54	-67	-83	-24
Profit After Adjustments	1623	1740	2314	2897	3912	3674	3990	3763	4994	4886	5310	6338
Adjusted Earnings Per Share	8.1	8.4	11.2	14	18.9	17.7	19.3	18.5	24.6	23.1	24.6	29.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	22%	22%	13%	19%
Operating Profit CAGR	8%	17%	10%	17%
PAT CAGR	9%	13%	8%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-7%	25%	17%	18%
ROE Average	13%	15%	16%	20%
ROCE Average	9%	11%	12%	13%

Adani Ports &Special Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	6396	8768	10768	13505	17526	21069	24538	25623	30608	41988	45584
Minority's Interest	142	144	159	124	139	150	210	220	1465	393	1339
Borrowings	10258	11288	13850	15820	17993	20629	19883	26181	32936	39691	46517
Other Non-Current Liabilities	1227	1777	1836	-163	-621	208	516	1273	2337	4887	6342
Total Current Liabilities	3012	2700	5469	7897	6556	4009	10352	7696	7121	11063	11403
Total Liabilities	21035	24677	32082	37183	41594	46065	55499	60994	74582	98328	112705
Fixed Assets	11382	13163	20527	20883	21054	22670	28121	32715	48291	62553	70365
Other Non-Current Assets	4518	5967	4677	9240	8633	9108	12747	13460	13383	17687	24893
Total Current Assets	5023	5445	6791	7060	11907	14287	14631	14820	12553	16190	15506
Total Assets	21035	24677	32082	37183	41594	46065	55499	60994	74582	98328	112705

Adani Ports &Special Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	375	756	150	445	842	950	823	4798	7195	4335	8676
Cash Flow from Operating Activities	1379	1132	3057	2381	4063	5608	6029	7402	7556	10420	11933
Cash Flow from Investing Activities	-4690	-2510	-2485	-4153	-2639	-3846	-4424	-750	-14143	-5282	-19604
Cash Flow from Financing Activities	4211	773	-237	2170	-1325	-1889	2313	-4256	3514	-586	-2734
Net Cash Inflow / Outflow	900	-606	335	398	98	-127	3919	2396	-3073	4553	-10404
Closing Cash & Cash Equivalent	756	150	485	843	950	823	4798	7195	4201	8676	937

Adani Ports &Special Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	8.1	8.4	11.18	13.99	18.89	17.74	19.27	18.52	24.58	23.13	24.58
CEPS(Rs)	9.86	11.55	15.63	18.83	24.4	23.56	26.16	26.9	35.22	38.12	40.81
DPS(Rs)	1	1	1.1	1.1	1.3	2	0.2	3.2	5	5	5
Book NAV/Share(Rs)	31.36	41.85	51.58	65.21	84.63	101.74	118.49	126.12	150.65	181.71	211.02
Core EBITDA Margin(%)	66.43	60.44	63.43	64.34	64.16	60.27	60.33	48.12	63.62	55.64	52.5
EBIT Margin(%)	62.03	61.17	59.76	60.67	66.02	57.33	59.99	54.15	68.11	48.35	38.76
Pre Tax Margin(%)	46.88	40.95	40.66	43.88	49.52	46.23	46.92	37.1	50.14	33.4	26.32
PAT Margin (%)	43.44	36.05	37.78	39.9	46.12	32.59	37.02	33.09	40.23	28.93	25.86
Cash Profit Margin (%)	55.23	49.5	52.6	54.86	59.87	43.08	49.59	47.77	57.02	47.04	42.28
ROA(%)	6.62	7.62	8.19	8.19	9.88	8.42	7.97	6.5	7.45	5.73	5.11
ROE(%)	28.84	23.3	24.04	23.46	25.09	19.12	17.74	15.09	17.96	14.36	12.84
ROCE(%)	11.09	14.96	14.7	13.42	14.74	15.64	13.75	11.49	14.1	10.8	8.79
Receivable days	52.16	62.1	65.59	95.6	110.92	112.87	118.59	95.6	89.11	58.07	56.56
Inventory Days	8.52	10.1	12.72	12.09	18.79	18.98	22.17	17.47	18.62	14.79	7.42
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	17.12	22.31	27.55	17.71	17.99	19.99	19.62	13.57	28.59	33.47	25.7
Price/Book(x)	4.42	4.48	5.97	3.8	4.02	3.49	3.19	1.99	4.66	4.26	2.99
Dividend Yield(%)	0.72	0.53	0.36	0.44	0.38	0.56	0.05	1.27	0.71	0.65	0.79
EV/Net Sales(x)	10.79	10.61	13.15	10.18	10.74	8.19	9.14	6.45	13.79	11.6	8.76
EV/Core EBITDA(x)	14.61	14.22	17.63	13.46	13.46	11.83	12.49	9.3	16.22	16.88	14.35
Net Sales Growth(%)	32.6	35.03	27.38	15.55	18.72	34.17	-3.51	4.7	9.71	36.41	21.81
EBIT Growth(%)	49.67	33.18	24.43	17.32	29.19	16.5	0.97	-5.49	37.98	-3.17	-2.34
PAT Growth(%)	40.21	12.07	33.51	22.03	37.21	-5.2	9.62	-6.43	33.4	-1.89	8.87
EPS Growth(%)	47.29	3.72	33.03	25.13	35.01	-6.08	8.62	-3.87	32.72	-5.9	6.28
Debt/Equity(x)	1.85	1.49	1.66	1.65	1.27	1.05	1.12	1.17	1.14	1.19	1.11
Current Ratio(x)	1.67	2.02	1.24	0.89	1.82	3.56	1.41	1.93	1.76	1.46	1.36
Quick Ratio(x)	1.64	1.96	1.19	0.87	1.72	3.43	1.34	1.89	1.62	1.43	1.32
Interest Cover(x)	4.09	3.02	3.13	3.61	4	5.16	4.59	3.18	3.79	3.23	3.12
Total Debt/Mcap(x)	0.42	0.33	0.28	0.44	0.32	0.3	0.35	0.59	0.24	0.28	0.37

Adani Ports &Special Shareholding Pattern

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	63.79	63.83	63.83	65.55	66.02	66.02	65.13	61.03	62.89	65.53
FII	15.72	15.29	15.27	14.26	14.24	14.33	13.76	17.98	16.98	13.82
DII	14.86	15.85	15.9	15.35	15.08	15.38	14.49	13.04	12.45	13.28
Public	5.62	5.02	4.99	4.84	4.65	4.27	6.62	7.95	7.68	7.37
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	130.25	130.33	130.33	138.46	139.46	139.46	140.69	131.83	135.85	141.56
FII	32.1	31.22	31.19	30.12	30.09	30.28	29.71	38.84	36.68	29.85
DII	30.35	32.37	32.46	32.43	31.86	32.49	31.3	28.17	26.9	28.69
Public	11.48	10.25	10.19	10.23	9.83	9.02	14.31	17.17	16.58	15.91
Others	0	0	0	0	0	0	0	0	0	0
Total	204.18	204.18	204.18	211.24	211.24	211.24	216.01	216.01	216.01	216.01

Pros

Cons

Stock is trading at 3.7 times its book value.
The company has delivered a poor profit growth of 7% over past five years.

* 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.