Adani Ports and Special Economic Zone Ltd Q1FY22 consolidated PAT up at Rs. 1306.69 crore

Adani Ports and Special Economic Zone Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.4938.43 crores during the period ended June 30, 2021 as compared to Rs.4072.42 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.1306.69 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.1287.81 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.6.41 for the period ended June 30, 2021 as compared to Rs.6.34 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 4938.43 crs	₹ 4072.42 crs	21.27%
Net Profit	₹ 1306.69 crs	₹ 1287.81 crs	1.47%
EPS	₹ 6.41	₹ 6.34	1.1%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.4938.43 crores during the period ended June 30, 2021 as compared to Rs.2749.46 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.1306.69 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.758.02 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.6.41 for the period ended June 30, 2021 as compared to Rs.3.73 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 4938.43 crs	₹ 2749.46 crs	79.61%
Net Profit	₹ 1306.69 crs	₹ 758.02 crs	72.38%
EPS	₹ 6.41	₹ 3.73	71.85%

"Our strategy of establishing a network of world-class ports to balance cargo across the east and west coast has been tracking precisely as per plan, thereby continuing to de-risk our growth as well as lay the foundation of a broader logistics platform.

This has resulted in APSEZ accelerating its market share gain," said Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ. "We have therefore raised our target cargo volumes to 350-360 MMT, which translates to unprecedented YoY growth of about 45%. APSEZ also became the first Indian infrastructure company to have raised a dual-tranche of 10.5-year and 20-year unsecured bond, further reducing our cost of capital to one of the lowest in the industry. I am also pleased to state that our goal of becoming the first port company to be carbon neutral by 2025 is very well on track."

In July '21, as part of the capital management plan, Adani Ports and Special Economic Zone (APSEZ) successfully issued USD 750 Mn of dual-tranche 10.5-year and 20-year unsecured bonds in global capital markets. APSEZ became the only infrastructure company in India to successfully place a 20-year paper, an achievement that reinforced its unique business model underscoring the strength of its strong fundamentals. With this issuance, APSEZ has given a longer yield curve to investors and elongated its debt maturity to over seven years.

The operations of the company continued to benefit from its networked economies of scale and the digitization initiatives that the company has been investing in over the past several years.

Operational Highlights - Q1 FY22 (YoY)

- APSEZ handled 76 MMT of cargo in Q1 FY22 compared to 41 MMT in Q1 FY21, registering a growth of 83% compared to 33% growth registered by All India cargo. This was on account of continued focus on handling multi commodities across various ports.

- The growth in cargo volume was led by dry cargo which grew by 104%, container by 69%, liquids (including crude) by 57% and the addition of new products including LNG and LPG to the cargo basket.

- Higher growth in cargo volume compared to the overall market led to a gain of 310 bps in market share, which now stands at 28.6%. Also, Mundra, Dhamra, Hazira, Dahej and Kattupalli ports registered high double-digit growth.

- In the container segment, APSEZ handled 2.08 Mn TEUs, a growth of 69% as against 4.87 Mn TEUs handled at all India levels, which grew by 51%. Container market share increased by 163 bps and now stands at 42.7%.

- Adani Logistics, the largest and most diversified private rail operator in India, registered a 10% growth in rail volume (76,925 TEUs in Q1 FY21 to 84,717 TEUs in Q1 FY22) and 13% growth in terminal volume (57,191 TEUs in Q1 FY21 to 64,418 TEUs in Q1 FY22).

Shares of Adani Ports and Special Economic Zone Ltd was last trading in BSE at Rs. 692.05 as compared to the previous close of Rs. 674.65. The total number of shares traded during the day was 491873 in over 13657 trades.

The stock hit an intraday high of Rs. 695 and intraday low of 678. The net turnover during the day was Rs. 339405181.

Source : Equity Bulls

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