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Adani Ports share rises 3% ahead of Q4 earnings

BusinessToday.In     May 4, 2021

Adani Ports share rose nearly 3% ahead of the firm's Q4 earnings set to be announced today. Share of Adani Ports touched an intraday high of Rs 781.85, rising 2.71% on BSE.

Adani Ports stock has gained 5.33% in the last 2 days. The stock opened with a gain of 2.53% at Rs 780.50 today. Later, the share ended 0.99% higher at Rs 768 on BSE. Adani Ports share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has gained 188.48% in one year and risen 59% since the beginning of this year.

The company's board of directors will meet on May 4 to consider and approve the audited financial results for the quarter and year ended March 31, 2021 and recommend a dividend, if any, for the Financial Year 2020-21.

The Adani Group firm is expected to report strong growth in Q4 earnings, driven by volumes and operating performance.

Adani Ports Q3 profit rises 16% to Rs 1,577 crore, revenue up 12%

"We model 29 percent YoY increase in volumes based on monthly updates shared by ADSEZ along with the consolidation of Krishnapatnam port from the second half of FY21," said Kotak Institutional Equities. The brokerage sees a 280 percent year-on-year growth in net profit and a 26 percent rise in revenue for the March quarter.

EBITDA (earnings before interest, tax, depreciation and amortisation) is likely to grow by 50 percent and EBIT growth could be 62 percent YoY. The EBITDA margin is expected to expand by 1,081 bps YoY and 68 bps QoQ at 67.1 percent in Q4 FY21, said the brokerage.

In Q3 of last fiscal, Adani Ports reported a 16 per cent rise in its consolidated net profit at Rs 1,577 crore for the third quarter ended on December 31, 2020, on the back of 37 per cent growth of cargo volume.

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