Adani Ports shares in focus today post stellar May operational updates; check details

Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) shares are in focus today after the Adani Group firm reported its operational performance update for May 2023. Adani Ports logged its lifetime high monthly cargo volumes last month. In May 2023, Adani Ports handled over 36 MMT of total cargo at its ports, logging a 19% YoY growth, the Adani Group firm said.

In the current session, the Adani Ports stock climbed 0.96% to Rs 743.50 against the previous close of Rs 736.40 on BSE.

Adani Ports shares have gained 0.31 per cent in one year and fallen 9.29 per cent since the beginning of this year. Market cap of the firm rose to Rs 1.60 lakh crore on BSE. Total 0.99 lakh shares of the firm changed hands amounting to a turnover of Rs 7.29 crore on BSE.

In terms of technicals, the relative strength index (RSI) of Adani Ports stands at 63.2, signaling it's trading neither in the overbought nor in the oversold zone. Adani Ports stock has a one-year beta of 1.7, indicating very high volatility during the period. Adani Ports shares stand higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

Adani Ports posted a 16% YoY growth in overall cargo volumes to 68.5 MMT on YTD basis, Adani Ports said adding that the growth was observed across most ports and all three cargo segments - Container (24%), Dry Bulk (12%), and Liquids & Gas (10%).

Logistics volumes also witnesses a major jump with YTD rail volumes of 93,000 TEUs rising 25% YoY and GPWIS volumes of 3 MMT, up 46%.

Adani Ports stock, which tanked along with other Adani Group shares after the allegations from Hindenburg Research report on January 24, 2023, has recovered over 86% till date. Adani Ports shares ended at Rs 736.40 in the last trading session, a recovery of 86.45% from the 52-week low of Rs 394.95 hit on February 3, 2023.

On May 31, the firm announced its Q4 and annual earnings. The firm reported a 5% increase in net profit at Rs 1,159 crore for the quarter ending March 31, 2023. It reported net profit of Rs 1,103 crore in the year-ago period.

The company's revenue from operations rose 40% to Rs 5,797 crore in Q4FY23 as against Rs 4,141 crore in Q4FY22.

EBITDA or operating profit rose 59% to Rs 3270.68 crore for the March 2023 quarter against Rs 2057 crore in the year ago period.

In the last fiscal, sales zoomed 21.81% to Rs 20,851 crore against sales of Rs 17,118 crore in the previous fiscal. Net profit climbed 8.68%  to Rs 5310 crore in FY23 against Rs 4886 crore in the previous fiscal. Operating profit rose 15% to Rs 10,947 crore for the March 2023 fiscal against Rs 9524 crore in the previous fiscal.

Also read: Reliance Industries, ITC, ICICI Bank, Maruti Suzuki among largecap shares that analysts like post Q4 results

Also read: Paytm shares operating performance for May; disbursements at Rs 5,502 crore