Adani Ports Q4 results preview: Port volumes, revenue to rise; check target prices

Adani Ports Q4 results preview: Gautam Adani led Adani Ports and Special Economic Zone (APSEZ) is set to announce its results for the quarter and financial year ended on March 31, 2025 on Thursday, May 01, 2025. The director board will also consider dividend, if any, for the eligible shareholders of the company.

Analysts tracking the stock believe that Adani Ports may report a strong growth in revenue, Ebitda and net profit on a year-on-year (YoY) basis, while the growth on quarter-on-quarter (QoQ) basis is seen flat-to-slightly higher. Volume growth may remain in single digit, while Ebitda margins have mixed views, with some expecting a nearly 100 basis points fall.

Equirus Securities is expecting Adani Ports to report a revenue at Rs 8,278.2 crore in the March 2025 quarter, up 20 per cent YoY and 4 per cent QoQ. Ebitda is seen at Rs 5,039.9 crore, up 24.6 per cent YoY and 5 per cent QoQ, with Ebitda margins expanding 58 bps QoQ to 61 per cent. Net profit is penciled at Rs 3,016.9 crore, up 47.9 per cent YoY and 19.7 per cent QoQ.

"Total volume handled at APSEZ during 4QFY25 stood at 117 MMT, up 8.6 per cent YoY and 5 per cent QoQ. We expect operating margins to be in the range of 60-61 per cent  given the revenue mix," Equirus added with a 'long' rating and a target price of Rs 1,440 on the stock. It cited global trade and performance of international ports as the key things to look for.

Elara Capital is expecting Adani Ports to clock a revenue of Rs 8,232.4 crore, up 19.4 per cent YoY and 3.4 per cent QoQ, due to new ports commissioned. Ebitda is seen at Rs 4,865.7 crore, up 20.3 per cent YoY and 1.3 per cent sequentially, with margins of 59 per cent. Net profit may come in at Rs 2,506.1 crore, up 6.4 per cent YoY, but down 7.6 per cent QoQ.

Shares of Adani Ports & Special Economic Zone to settle at Rs 1,217, rising marginally higher. The total market capitalization of the company stood at Rs 2.63 lakh crore for the day. The Adani Group firm is still 25 per cent below its 52-week high at Rs 1,607.95, hit in June 2024.

Kotak Institutional Equities expects Adani Ports to report a revenue of Rs 8,151.7 crore, up 19.2 per cent YoY and 2.4 per cent QoQ. Ebitda is seen at Rs 4,837.8 crore, up 19.6 per cent YoY and 0.7 per cent QoQ, with Ebitda margins contracting 96 bps sequentially to 59.3 per cent. Net profit is seen at Rs 2,752.8 crore, up 36 per cent YoY and 11.7 per cenet QoQ. It has a 'buy' rating on the stock with a target price of Rs 1,570.

"We model 8 per cent/11 per cent YoY improvements in port volume/revenue, impacted by the lack of scale-up in Gangavaram, weakness in imported coal volumes and weak macro growth. We build in high teen growth in overall revenues, boosted by the Astro acquisition and an uptick in logistics revenues. We model a 60 per cent Ebitda margin similar to QoQ levels," Kotak said.