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Adani Ports Q4 Results 2022

25 May 2022

Adani Ports and SEZ posted its Q4 FY22 results on May 24, 2022. The company’s profit for the period was down by 30.1% QoQ (Quarter on Quarter) in the quarter under review to Rs 1,033 crore from Rs crore in the previous quarter. On a YoY (Year on Year) basis, the profit for the period was down 21.7% to Rs 1,033 crore from Rs 1,320 crore in the year ago period.

The company’s revenue from operations is up by a mere 1.26% YoY to Rs 3,845 crore from Rs 3,797 crore in the corresponding quarter in the previous financial year. On a sequential basis, the revenue from operations is up 6.59% to Rs 3,845 crore in Q4 FY22 from Rs 3,607 crore in Q4 FY21.

However, the company’s total expenses climbed to a whopping 31% YoY to Rs 3,309 crore from Rs 2,526 crore in the year ago period.

The Board has recommended a dividend of Rs 5 per share, which works out to a payout of around Rs 1056 crore, and is 22% of reported PAT. Adani Ports’ scrip opened in the red at Rs 735 per share, after closing at Rs 752.15 in the last trading session.  

Highlights of Adani Ports Quarterly Results

  • Total income up 8.47% YoY to Rs crore from Rs 4,417 crore in the previous quarter and Rs 4,072 crore in the year ago period
  • Other income up 23.2% YoY to Rs 572 crore from Rs crore in Q3 FY22 and Rs 464 crore in Q4 FY21
  • Achieved a total cargo volume of 312 MMT, up 26% YoY
  • APSEZ continues to outperform the market. During FY22, it handled 312 MMT of cargo versus 247 MMT in FY21 thus registering a growth of 26% compared to 5% growth in all India cargo volume
  • The growth in cargo volume was led by Dry cargo, followed by containers, and liquids
  • Port EBITDA grew 21% to Rs.9,120 Cr on the back of growth in port revenues

Misses of Adani Ports Q4 Results 2022

  • Net profit down by 30.1% QoQ n the quarter under review to Rs 1,033 crore from Rs crore in the previous quarter
  • Net profit down by 21.7% YoY to Rs 1,033 crore from Rs 1,320 crore in the year ago period
  • Total expenses climbed to a whopping 31% YoY to Rs 3,309 crore from Rs 2,526 crore in the year ago period
  • Earnings Per Share (EPS) down to Rs 4.85 from Rs 6.97 in the previous quarter and Rs 6.34 in the year ago period

Segment-wise revenue

  • Ports and SEZ Activities: Revenue up 1.41% YoY to Rs 3,369 crore in the quarter under review from Rs 3,322 crore in the year ago period
  • Others: Revenue up 62.7% YoY to Rs 537 crore in the quarter under review from Rs 30 crore in the year ago period

What the Management says About the Recent Results of Adani Ports

Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, “FY22 has been a stellar year for APSEZ, with achievement of various milestones for itself and new benchmarks for India’s maritime industry. The company did a record cargo volume of 312 MMT with Mundra port alone handling 150 MMT, a feat never achieved by any other commercial port in the country.”

Other things to know about Adani Ports Results

  • Mundra became the first commercial port in India to handle cargo of 150 MMT
  • The company’s P/B ratio is at 31.81 against the industry average of 46.40
  • Adani Ports and SEZ’s P/B ratio is at 4.93 against the industry average of 4.81
  • The company’s dividend yield is at 0.64% against the industry average of 0.68%

To read the RA disclaimer, please click here.
Research Analyst: Bavadharini KS

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