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Adani Ports Q3 results preview: key thing to watch, stock target prices & more

Adani Ports Q3 results preview: key thing to watch, stock target prices & more

Adani Ports Q3 results preview: Gautam Adani led Adani Ports and Special Economic Zone Ltd is set to announce its results for the period ended on December 31, 2024 later today.

Adani Ports & Special Economic Zone gained more than 1.5 per cent to Rs 1,114.50 on Thursday, commanding a total market capitalization close to Rs 2.4 lakh crore. Adani Ports & Special Economic Zone gained more than 1.5 per cent to Rs 1,114.50 on Thursday, commanding a total market capitalization close to Rs 2.4 lakh crore.

Adani Ports Q3 results preview: Gautam Adani led Adani Ports and Special Economic Zone Ltd is set to announce its results for the period ended on December 31, 2024 later today. India's largest port operator is likely to deliver a flat-to-decent set of performance in the third quarter of the ongoing financial year.

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Brokerages tracking the stock are expecting a flat-to-modest growth in the Ebitda and profit on both year-on-year (YoY) and quarter-and-quarter (QoQ) basis. Revenue is also likely to inch up higher, but margins may contract moderately on a sequential basis. Volume growth, global business and working of Gangavaram and Vizhinjam shall be the key things to look out for.


Kotak Institutional Equities is expecting net sales to come in at Rs 7,196.9 crore in the December 2024 quarter, up 4 per cent YoY and 1.8 per cent QoQ. Ebitda is seen to come in at Rs 4,390.1 crore, up 4.9 per cent YoY and flat QoQ, with Ebitda margins may expand 50 bps YoY but a 83 bps fall on a sequential basis is seen. PAT is pegged at Rs 2,571.4 crore, up 3.4 per cent YoY and 5.5 per cent QoQ.


"We model a weak improvement in volumes/revenues, impacted by the lack of scale-up in Gangavaram, weakness in imported coal volumes and weak macro growth. We note that the same includes volumes from Vizhinjam not in the YoY base. We model in 61 per cent margins, similar to QoQ levels," Kotak added with a 'buy' rating and a target price of Rs 1,570.


Adani Ports & Special Economic Zone Ltd gained more than 1.5 per cent to Rs 1,114.50 on Thursday, commanding a total market capitalization close to Rs 2.4 lakh crore. The scrip had settled at Rs 1,097.25 in the previous trading session. The stock is down 32 per cent from its 52-week high at Rs 1,607.95 hit in June 2024.


Equirus Securities is penciling a net sale of Rs 7,208.4 crore, up 4.2 per cent YoY and 2 per cent QoQ. Ebitda is seen at Rs 4,420.2 crore, up 5.6 per cent YoY and 1.2 per cent QoQ, with Ebitda margins coming in at 61 per cent, down 50 bps QoQ and 83 bps YoY. Net profit is pegged at Rs 2,697 crore, up 22.1 per cent YoY and 8 per cent QoQ.


"Total volume handled at Adani Ports during Q3FY25 stands at 112.3MMT, up 3.4 per cent YoY and 1.7 per cent QoQ. We expect operating margins to be in the range of 61-61.5 per cent given the revenue mix. Global trade and performance of international ports are the key thing to watch out," Equirus added with an 'add' rating and a target price of Rs 1,738 on the stock.


Elara Capital pegs revenue to come in at Rs 7,181.7 crore, up 3.8 per cent YoY and 1.6 per cent QoQ. Ebitda is likely to come in at Rs 4,413.6 crore, up 5.4 per cent YoY and 1 per cent YoY. Net profit may come in at Rs 2,574.1 crore, 7.7 per cent YoY and 4.3 per cent QoQ.


"Volumes for major ports in October and November declined 4%, led by a drop in coal imports (rise in domestic production, dip in power demand) and iron ore exports (low demand from China, slump in global prices). This is likely to slow down volume handled by Adani Ports," Elara added with a 'buy' tag and a target price of Rs 1,813.


InCred Equities is expecting Adani Ports sales to come in at Rs 7,399.6 crore, up 6.9 per cent YoY and 4.7 per cent QoQ. Ebitda may come in at Rs 4,564 crore, up 9 per cent YoY and 4.5 per cent QoQ, with margins coming at Rs 61.7 per cent. PAY may come in at 2,710.9 crore. It expects Adani Ports' Ebitda to rise 9 per cent YoY driven by firm tariff and 3 per cent YoY volume growth InCred has an 'add' rating on the stock.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jan 30, 2025, 11:34 AM IST
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Adani Ports & Special Economic Zone Ltd
Adani Ports & Special Economic Zone Ltd