Adani Ports to announce Q4 results and dividend on May 30

Large Cap
May 27, 2023, 11:29 am

The Q4 revenue report for Adani Ports and Special Economic Zone will be made public on May 30 in order to provide its audited financial results for the period and the fiscal year that ended March 31, 2023. The potential of declaring dividends for the fiscal year 2022–2023 will be discussed at the board meeting, according to the firm. Adani Ports' shares ended Friday's BSE trading 0.26% higher. Over 11% has been lost on the stocks so far this year and over 17% over the last six months. According to Trendlyne statistics, the average price objective for Adani Ports shares is Rs 834 per share, representing a 15% increase over the stock's current market value.

The Story

On Tuesday, May 30, the Adani Ports and Special Economic Zone, a company owned by billionaire Gautam Adani, will release its March quarter earnings.

The firm stated in an exchange filing that the board of directors meeting will be held on May 30, 2023, among other things to review and approve its audited financial results for the three months and the year ended March 31, 2023.

The statement continued, "The company will also evaluate and recommend the dividend, if any, for the fiscal year 2022–23."

Adani Ports' shares on BSE closed Friday's trading 0.26% higher at Rs 726.9. The stock has lost more than 11% so far this year, and over 17% over the last six months.

For the three months that ended in December 2022, Adani Ports recorded a 16% decline in its consolidated net profit at Rs 1,315 crore in Q3 FY23. In Q3 FY22, the amount was Rs 1,567 crore. In the meantime, its operating revenue increased 17% YoY to Rs 4,786 crore in Q3 FY23.

Earnings before interest, taxes, depreciation, and amortization, or EBITDA, rose 15% for the company from Rs 2,612 crore in the same quarter of FY22 to Rs 3,011 crore for the period of October through December.

According to Trendlyne statistics, Adani Ports' average target price is Rs 834 per share, a 15% increase over current market pricing.

Buy is the stock suggestion that 22 analysts have agreed upon. 18 of the 22 analysts that are following the stock have strong buy recommendations, and 4 have buy recommendations

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