Adani Ports Q4 preview: Net profit likely to fall up to 20%

NEW DELHI: Adani Ports and Special Economic Zone is likely to see a drop in the March quarter profit to the tune of 20 per cent, according to analysts tracking the company. They, however, have different views on the company's top line growth.

Centrum Broking expects adjusted profit after tax (PAT) to decline about 19 per cent compared to the corresponding quarter last year to Rs 1,040 crore. It expects revenue to rise about 14 per cent in the same period. The broker further expects Ebitda to decline over 10 per cent with margins shrinking by about 14 percentage points.

“Cargo (including Gangavaram) grew 5 per cent QoQ to 78mt in Q4FY22 driven by strong growth in dry bulk volumes. Container cargo declined 6 per cent QoQ. We expect revenue at Rs 4,100 crore in Q4 (includes fx MTM loss of Rs 580 crore)," the broker said.

A similar trend was seen in the previous quarter as well. At the end of the December quarter, the company had said cargo tonnage fell 11 per cent to 68 million metric tons in October-December in FY22 compared to 76 million metric tons in the same period last year. Its PAT had also declined but revenue was higher.

Centrum Broking added that the outlook on container volumes, capex plans and SEZ income for FY23 will be key things to watch out for on Wednesday when it announces its numbers.

B&K Securities expects revenue of the company to decline over 8 per cent to Rs 3,310 crore. It estimates profit to drop 21 per cent to Rs 1,028 crore. Though, this brokerage sees stable Ebitda margins, unlike Centrum.

Shares of the company traded flat ahead of the earnings on Tuesday. Though, in the current calendar year, the stock is up 7 per cent.