Adani Ports and Special Economic Zone Limited, also known as APSEZ, is India’s largest ports developer and operator. It offers a comprehensive range of integrated logistics solutions and services across the country.
*Note: Prices that are specified below is based on INR
Adani Ports and Special Economic Zone Historical Share Price (NSE)
Adani Ports Market Capitalisation
The market capitalisation of Adani Ports and Special Economic Zone Limited, as of March 2018, is more than Rs.78,000 crore.
Company’s Wealth and Recent PerformanceAdani Ports Q1 FY19 Results
- Adani Ports posted a 9% decline in its consolidated profit to stand at Rs.697.40 crore for the said quarter as against Rs.767.52 crore in the same period last year.
- The port developer’s consolidated income also declined to Rs.2,703.63 during the said quarter as compared to Rs.2,959.63 crore during the corresponding quarter of last fiscal.
- The total expenditure stood at Rs.1,781.46 crore as against Rs.1,867.43 crore during the April-June quarter last year.
- In a statement, the company said that it has completed the acquisition of Kattupalli port and recommended operations of its Vizag Terminal during the first quarter of FY 2018-19.
- Its cargo volume inclined by 9% compared to the same quarter last year attributed by the rise on crude which rose by 65% and containers which rose by 16%.
Adani Ports FY 2017-18 Annual Report
- The company reported a rise in its operating revenue by 34% to stand at Rs.11,323 crore as against Rs.8,439 crore reported last fiscal.
- Its EBITDA rose by 24% to stand at Rs.7,062 crore as compared to Rs.5,692 crore posted at the end of FY17.
- The port developer also reported that its PBT was up by 25% to stand at Rs.5,234 crore, while its PAT dropped by 6% to stand at Rs.3,683 crore as compared to Rs.3,920 crore during the last fiscal.
- During FY18, the company generated free-cash-flow of Rs.1,253 crore which resulted in the reduction of the company’s net debt by Rs.655 crore.
- The company posted a 20% rise in its fourth-quarter profit of Rs.929 crore as compared to Rs.1,164.07 crore posted last fiscal.
- The revenue of the company inclined by 42% to stand at Rs.3,182.86 crore as against Rs.2,231.46 crore reported during FY17.
- The operating profit or EBITDA increased by 4.6% to stand at Rs.1,712 crore, while its PAT would have been higher if not for a higher tax incidence to stand at Rs.1,544 crore in FY18 compared to Rs.287 crore in FY17.
- The consolidated operating income of the company grew by 22% over the same period last year Rs.2,689 crore. Considering the same parameter over 9M FY17 and 9M FY18, the operating revenue of the APSEZ Limited grew by an astounding 31% to Rs.8,140 crore.
- Similarly, EBITDA and PBT also registered a respective growth of 26% and 48% over the December quarter of the fiscal year 2017.
- The company has reported a steady growth in all the verticals. Its revenue from port operations increased by roughly Rs.250 crores - a 15% growth over Q3 FY17. As for its earnings from SEZ operations, they doubled to Rs.402 crores in Q3 FY18 over the same quarter last year.
- The amount of cargo handled by Adani Ports increased by 16% over the Q3 FY17 to 48 million metric tonnes, and by 11% over the September quarter of FY 18.
- APSEZ has outperformed all the other major ports in the country in terms of container volumes (TEUs) managed. While the other ports registered an 8% growth over the same quarter last year, Adani Ports reported an incredible 29% growth in the same period.
Adani Ports and Special Economic Zone Limited Stock Trend in 2018
- The opening price of Adani Ports stock at the start of 2018 on NSE was Rs.406, while on BSE, it was Rs.405.95. Through the course of the month, the stock price continued to fluctuate but managed to stay above Rs.420. The closing price of APSEZ stock on January 31, 2018, on NSE, was Rs.428.85.
- The opening price on February 1, 2018, was Rs.431 on NSE. Owing to the turbulence that international markets witnessed in the month and weak global cues, the share price of APSEZ went down to touch Rs.400 again. The closing price at the end of the month on NSE was Rs.408.35, while the same on BSE was Rs.408.25.
- The stock lost nearly 2 points on the 1st of March to stand at Rs.406.10 which further dropped by the end of the month to close at Rs.354.10 in the backdrop of a lower-than-expected Q4 FY18 results.
- However, on the 2nd of April, the scrip gained more than 14 points to end the day at Rs.369.70 and inclined significantly over the course of the month to end at Rs.407.30.
- When the market resumed for trading on the 2nd of May, Adani Ports stock price was down by nearly 6 points to end at Rs.401.10; however, it fell sharply to end at Rs.371.25 on the 24th before recovering to end the month at Rs.392.15.
- On the 1st of June, the stock price of Adani Ports dropped about 5 points to end at Rs.387.60 and further declined by more than 25 points to close at Rs.361.15 on the 27th; however, it recovered more than 12 points by the end of the month to stand at Rs.373.15.
- The scrip lost 10 points on the 2nd of July to be valued at Rs.362.80 and rose sharply towards the end of the month to close at Rs.399.75.
- The stock price on the 1st of August stood at Rs.399 before losing more than 30 points to end at Rs.372.30 on the 7th and remained flat over the course of the month to close at Rs.383.15.
Adani Ports and Special Economic Zone Limited Stock Trends in 2016 and 2017
- At the start of 2016, Adani Ports shares were being traded at around Rs.263 on NSE and BSE. The month of January was not an appealing one for the investors and as a result, the share price by the end of the month was close to Rs.210. Things improved slightly in the February and March, but the stock price on NSE and BSE was nowhere close to the opening price at the start of the year. The share price at the end of March 2016, was close to Rs.247.
- In the same month, an interim dividend of 55% was announced by the board, but that did not do much for the investors. The price remained on the same wavelength in the month of April as well and it failed to move beyond Rs.250. In May, APSEZ stock price suffered heavily despite a good performance in Q4 FY16. As a result, by the end of May 2016, the stocks were trading at around Rs.190.
- The months of June and July saw the stock price trying to recover. From being traded at roughly Rs.200 in early June on NSE and BSE, the BSE SENSEX listed stock managed to cross Rs.260 by the end of August. This was driven by a strong performance in Q1 FY17, credit rating updates and raising of funds through non-convertible debentures (NCDs).
- Things did not vary significantly up until October, when Q2 FY17 results were announced. This led to a sharp spike in the stock price of Adani Ports and SEZ Limited, and by the end of October 2016, the price had cross Rs.300 on NSE and BSE. However, the price failed to sustain its newly found high for long and post demonetisation in November 2016, the stock price had once again dropped down to Rs.260 zone. The acquisition of TM Harbour in December did give the share price a new heading, but it did not last for long. The closing price of the NIFTY 50 listed stock at the end of 2016 was close to Rs.268 on NSE and BSE.
- 2017 started well for the investors, driven by positive global cues and updates by the company. Adani Ports raised $500 million through bonds which led to the share price touch Rs.300 by early February. Through February and most of March, the shares were changing hands at roughly around Rs.300. At the end of March, Adani Ports share price hit a 52-week high on rating upgrade.
- By early April, the share price of Adani Ports had crossed Rs.350 but it failed to stay there for so long. By the end of the month, it had dropped down to Rs.320 territory and stayed there for most of May. The price crossed Rs.350 once again, but owing to company’s announcement over deferring investment for the Australian project, the stock slipped by 4% in late May. Nonetheless, the price remained close to Rs.340.
- In June 2017, APSEZ share price rose once again and this time, it crossed Rs.370 on the back of credit rating upgrade by Moody’s Investors Service. A final dividend of 65.5% was announced in late July, by which point, the shares were being traded at close to Rs.400. Through most of August, September, and October, the stock price tried to find a steady bearing at around Rs.390- Rs.400.
- A sharp dip in September caused the stock price to touch Rs.375 on NSE and BSE, but it managed to recover again. By late October 2017, the stock price managed to cross Rs.430, driven by Adani Ports raising funds through NCDs. In November, the price slipped down to Rs.400 and for a brief spell, it was around Rs.385. The month of December was uneventful and the closing price at the end of the year was close to Rs.405 on NSE and BSE.
Should you invest in Adani Ports?
- Adani Ports has been around the block for more than two decades and in that time, it has grown to become the country’s largest private port operator. The company has performed consistently over the years and has generated steady profits. Being a leading logistics player in the country, it is and will be playing an important role in India’s efforts to expand its economy.
- The valuation of the stock, as of March 2018, is fairly reasonable in comparison to its peers in the same sector. Furthermore, its net profit is among the highest in the sector and is trailing only to Larsen & Toubro. Similarly, its P/E ratio is also less when compared to its peers, indicating that the stock may be undervalued.
- Considering the future prospects of Adani Ports, they expect to boost their cargo volumes and containers operations through expansion at Dhamra and Kattupalli ports, and also commence containers operations at Ennore.
- From a long-term perspective, investing in Adani Ports stocks may seem like a good idea. However, it is advisable to research thoroughly before investing.
Adani Ports and Special Economic Zone Limited is the largest port operator in India and a leading player in the integrated logistics sector. It has 10 ports and terminals placed strategically throughout India’s coastline to streamline its logistical operations. The most prominent port among these is the Mundra Port - India’s largest commercial port. These ports and terminals account for more than one-fifth of India’s port capacity. Adani Ports has also got three inland container depots and a well-established end-to-end transportation network through railways and roadways to ensure high operational efficiency.
History of the Company
Adani Ports and Special Economic Zone Limited is a leading ports developer in India and is a part of the Adani Group, one of the largest conglomerates in India. APSEZ originally started as Gujarat Adani Port Limited (GAPL) in 1998 and one of their first projects was to build a private port at Mundra. The company began commercial operations in 2001 and two years later, Mundra Special Economic Zone was incorporated to establish an SEZ at Mundra. Over the years, Adani Ports has moved on to set up ports and terminals in other parts of the country like Dahej, Hazira, Dhamra, Kandla, Visakhapatnam, et cetera.
In 2006, the company changed its name from GAPL to Mundra Port and Special Economic Zone Limited to reflect their core business. The company went public in 2007 when it offered it came out with its first initial public offer (IPO) following which, the shares were listed on the NSE and BSE.
Gautam Adani - Chairman and Managing Director
Mr. Adani is the founder and the chairman of the Adani Group. He has been in this sector for more than 30 years and under his leadership, the Adani Group has moved on to become a leading name in several crucial verticals, namely integrated logistics, energy, and resources. This has been largely possible owing to Mr. Adani’s entrepreneurial vision, ambitions, and hard work. His efforts have led to the APSEZ become one of the most crucial entities, responsible for establishing sound infrastructure in the country.
Karan Adani - Whole Time Director
Mr. Karan Adani started his career with Adani Ports by understanding the ins and outs of the port operations at Mundra. He has been a part of the company since 2009 and has worked in various capacities over the years. He is presently responsible for the strategic development of the group and overlooks various day-to-day operations. He has a degree in economics which he obtained from Purdue University, U.S.A.
Adani Ports and Special Economic Zone Limited Stock Listing in NSE, BSE and Indices
Adani Ports stocks are available for trading on the National Stock Exchange Limited (NSE) and the Bombay Stock Exchange (BSE). The codes for the same are as follows:
BSE - 532921
NSE - ADANIPORTS
ISIN - INE742F01042
SECTOR - Infrastructure - General
The company is also listed on two of the most important stock market indices in India - S&P BSE SENSEX and NIFTY 50. In addition to these two indices, the company is also listed on S&P BSE 100, S&P BSE SENSEX 50, S&P BSE India Infrastructure, NIFTY 100, NIFTY 200, NIFTY Infrastructure, et cetera.
Adani Ports and Special Economic Zone Limited
Adani House, Mithakhali Six Roads,
Navarangpura, Ahmedabad, 380009
Contact number : +91-79-2656-5555