Adani Port and Special Economic Zone (SEZ) Limited on Tuesday announced that the company’s board has recommended a dividend of 250 per cent for the financial year 2021-22. “The Board has recommended a dividend of 250 per cent (Rs 5) per equity share of Rs 2 each fully paid for the financial year 2021-22, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). “The Adani Group The company informed in an exchange filing.
The company further said that it will notify in due course that 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 sent 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 at Rs 1,033 crore for the fourth quarter ended March 2022. The country’s largest integrated logistics player had posted a consolidated net profit of Rs 1,321 crore, according to a BSE filing late Tuesday. in the same period of the previous financial year.
The company’s consolidated total income rose to Rs 4,417.87 crore in the fourth quarter of last fiscal from Rs 4,072.42 crore in the same period a year ago. Total expenses also increased to Rs 3,309.18 crore for the quarter under review, as against Rs 2,526.91 crore in the same period.
Karan Adani, Chief Executive Officer and Whole Time Director, APSEZ said that FY22 has been a great year for APSEZ, achieving various milestones for itself and new benchmarks for India’s maritime industry.
Consolidated revenue of Adani Ports (excluding Gangavaram) grew 27 per cent to Rs 15,934 crore, driven by growth in ports, logistics and SEZs. Port revenue grew by 21 per cent to Rs 12,964 crore. Revenue from Logistics business stood at Rs 1,208 crore, a growth of 26 per cent.
As mentioned earlier, consolidated EBITDA, excluding Gangavaram, grew 22 per cent to Rs 9,811 crore, while port EBITDA grew by 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. Net debt to EBITDA stood at 3.4X in FY22, which is within the guided range of 3-3.5X. After adding Gangavaram port EBITDA, the ratio will be 3.0X.
Adani Ports also made several acquisitions and bagged some major projects. “The acquisition in FY22 contained an investment of approximately Rs 11,400 crore for APSEZ and was successfully managed with an organic capex of approximately Rs 3,750 crore,” it said.
Shares fall after Q4 earnings
However, shares of Adani Ports fell over 3 per cent on Wednesday after the Adani Group firm reported a 21 per cent fall in net profit for the March 2022 quarter. The stock opened at Rs 736.50, down 2.04 per cent on the BSE. Shares of Adani Ports touched a low of Rs 727.60, down 3.21 per cent on the BSE.
The stock trades lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Shares of Adani Ports have fallen 3.62 per cent in one year and have gained 0.81 per cent since the beginning of this year. The firm’s market cap fell to Rs 1.54 lakh crore on the BSE. A total of 0.52 lakh shares of the firm traded at Rs 3.84 crore on the BSE.
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