Adani Ports Q4 Review - In-Line Performance; Continued Focus On Cash Flows: Centrum Broking
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Adani Ports and Special Economic Zone Ltd.’s Q4 FY21 operational performance was strong and in-line with our estimates.
Profit after tax grew 285% year-on-year on a low base to Rs 12.9 billion (our estimate: Rs 12.6 billion).
Cargo (including Krishnapatnam port) grew 26.3% YoY to 73 metric tonne.
Port revenue/Ebitda grew 30%/41.6% YoY to Rs 31.2 billion/ Rs 21.7 billion (in-line).
Port Ebitda margin grew 12.1% YoY to Rs 297/metric tonne while in percentage terms expanded 570 basis points YoY to 69.4%.
Free cash in FY21 (net of interest, net working capital and capex) grew 47% to Rs 58 billion.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.