Adani Ports and Special Economic Zone (SEZ) Limited on Tuesday announced that the board of the company has recommended a dividend of 250 per cent for the financial year 2021-22. “The board has recommended a dividend at 250 per cent ( Rs 5) per equity share of Rs 2 each fully paid up for the financial year 2021-22, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM),” the Adani Group company informed in an exchange filing.
The company further said that it will inform in due course the date on which the company will hold the AGM for the year ended March, 2022 and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders.
Adani Ports & SEZ Q4 Results
Adani Ports and Special Economic Zone Limited (APSEZ) has reported a 21.78 per cent decline in consolidated net profit to Rs 1,033 crore for the fourth quarter ended March 2022. According to a BSE filing late Tuesday, the country’s largest integrated logistics player had clocked a consolidated net profit of Rs 1,321 crore in the corresponding period of the previous fiscal.
The company’s consolidated total income increased to Rs 4,417.87 crore for the fourth quarter of the last fiscal as against Rs 4,072.42 crore in the same period a year ago. Total expenses also rose to Rs 3,309.18 crore in the latest quarter under review against Rs 2,526.91 crore in the same period.
Chief Executive Officer and Whole Time Director of APSEZ Karan Adani said FY22 had been a stellar year for APSEZ, achieving various milestones for itself and new benchmarks for India’s maritime industry.
Consolidated revenue of Adani Ports (excluding Gangavaram) grew by 27 per cent to Rs 15,934 crore, due to growth in port, logistics and SEZ. Port revenue saw an increase of 21 per cent to Rs 12,964 crore. Revenue from the logistics business stood at Rs 1,208 crore, which is a growth of 26 per cent.
As mentioned before, consolidated EBITDA, excluding Gangavaram grew 22 per cent to Rs 9,811 crore, while port EBITDA grew 21 per cent to Rs 9,120 crore. Logistics business EBITDA grew 41 per cent to Rs 320 crore, aided by cargo diversification, elimination of loss-making routes and operational efficiency measures. FY22 net debt to EBITDA stood at 3.4X, which is within the guided range of 3-3.5X. After adding Gangavaram port EBITDA, the ratio would be 3.0X.
Adani Ports also made a number of acquisitions and won a few large projects, it added. “The acquisitions in FY22 implied an investment of around Rs 11,400 cr for APSEZ and was successfully managed alongside an organic capex of around Rs 3,750 cr,” it said.
Stocks Fall Post Q4 Earnings
However, shares of Adani Ports fell over 3 per cent on Wednesday after the Adani Group firm reported a 21 per cent decline in net profit for the March 2022 quarter. The stock opened with a loss of 2.04 per cent at Rs 736.50 against the previous close of Rs 751.80 on BSE. Adani Ports share touched an intraday low of Rs 727.60, falling 3.21 per cent on BSE.
The stock trades lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Adani Ports share has lost 3. 62 per cent in one year and gained 0.81 per cent since the beginning of this year. The market cap of the firm fell to Rs 1.54 lakh crore on BSE. Total 0.52 lakh shares of the firm changed hands amounting to a turnover of Rs 3.84 crore on BSE.
Read all the Latest Business News here
Comments
0 comment