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Why did ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. share price move today?collapse benzinga

Why did ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. share price move today?

Adani Ports and Special Economic Zone shares are trading higher along with several Sensex and Nifty stocks bouncing back after yesterday’s sell-off in broader markets.

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Shareholding Info
  • Promoters
    61.03 %
  • Foreign institutions-FII
    17.99 %
  • Other domestic institutions
    9.94 %
  • Retail and other
    7.95 %
  • Mutual Funds
    3.09 %

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Adani Port Overview


Adani Ports and Special Economic Zone Limited (APSEZ) is a private multi-port operator in India. It was founded on 6 May 1998. The company headquarters are in Ahmedabad, India. Until 6 January 2012, it was known as Mundra Port and SEZ Limited (MPSEZ). With the largest Special Economic Zone (SEZ) in India located at Mundra, the company represents a vast network of ports.
Nearly one-fourth of all cargo movement in India takes place through APSEZ. With domestic ports distributed across 7 coastal states (Gujarat, Odisha, Maharashtra, Goa, Kerala, Andhra Pradesh, and Tamil Nadu), the company has a nationwide footprint and inland connectivity.

Company Journey


APSEZ has several milestones over the course of its journey. The following are some recent milestones in APSEZ's journey:
  • 2017
    • APSEZ and French shipping company, CMA CGM inked a joint venture agreement in 2017 to run a new container port at Mundra Port for the subsequent 15 years.
  • 2018
    • Adani and Total teamed together in 2018 to establish themselves as an integrated downstream player in the Indian Energy Market.
  • 2019
    • The acquisition of Snowman Logistics by APSEZ for ₹296 crore marked the company's entry into the cold chain logistics market in 2019. The same year, APSEZ recorded 200 MMT of cargo movement, making it the first Indian port operator to do so.
  • 2020
    • The 2020 Dow Jones Sustainability Emerging Markets Index placed APSEZ at position 14 in the Transportation and Transportation Infrastructure Sector.
    • APSEZ Ltd. finished the ₹12,000 crore acquisition of Krishnapatnam Port Company Ltd. (KPCL) in 2020.
  • 2021
    • With the acquisition of Gangavaram Port for ₹6,200 crore in 2021, APSEZ received access to India's eastern region.
    • In order to improve its logistics and data centre capabilities, Flipkart established a Strategic Partnership with APSEZ in 2021.

Business Highlights


APSEZ Limited is involved in the construction, management, and upkeep of ports and infrastructural facilities associated with ports. It functions under the business categories for Port and SEZ activities, as well as others.

Revenue from activities related to infrastructure development is a part of the Port and SEZ activities section. When it comes to its 'Others' segment, it includes all the revenue from operating aircraft, services for utilities, and revenue from container trains.

Approximately 92% of APSEZ's revenue came from the port sector in the fiscal year 2021. Approximately 7.6% of the company's income in the same fiscal year came from the logistics division.

In its report for the September 2022 quarter, APSEZ noted an increase of 68.5% in its consolidated net profit related to oil to ₹1,677.48 crore. This compares to a net profit of ₹995.34 crore in the same time last year in 2021, the company reported in a regulatory statement.

The company's Port and SEZ activities generated ₹4,609 crore in revenue in the third quarter of 2022, up from ₹3,531 crore in the same quarter of 2021.

Performance highlights


  • APSEZ has reported a share price return of 128.78% in the last 3 years (2019-2022). It has a total market capitalisation of ₹1,93,000 crore as of 2022.
  • APSEZ Ltd. clocked ₹4,326.83 crore EBITDA (earnings before interest, taxes, depreciation, and amortisation) in the fiscal year that ended in March 2022.
  • APSEZ Limited’s stock price CAGR for the last 3 years (2019-2022) has been reported at 32%. This included a compounded profit growth of 8% in the same duration. APSEZ's operating profit margin has shrunk from 60% in the fiscal year 2019 to 56% in the fiscal year 2022.
  • The company is listed on indices like:
    • Nifty 50
    • Nifty 100
    • Nifty 200
    • Nifty 500
    • Nifty 50 Equal Weight
    • Nifty LargeMidcap 250
    • Nifty 100 Equal Weight
    • Nifty Services Sector
    • Nifty High Beta 50
    • Nifty Total Market
    • Nifty Infrastructure
    • NIFTY Transportation & Logistics
    • Nifty100 Liquid 15
    • Nifty50 USD
    • NIFTY 500 Multicap 50:25:25 Index
  • Promoters own 66.02% of the company’s shares as of the quarter that ended in September 2022.
  • Mutual Funds houses have decreased their share holding in APSEZ from 4.92% to 4.84% in the September 2022 quarter.
  • Some mutual funds that hold APSEZ stock are:
    • ABSL Arbitrage Fund
    • ABSL Arbitrage Fund - D
    • Axis Nifty ETF
    • HDFC Arbitrage Fund - Direct (G)
    • ICICI Pru Nifty Index Fund (G)
  • APSEZ Ltd. had an ROE (Return On Equity) of 1.12% and a ROCE (Return On Capital Expenditure) of 5.49% for the financial year that ended in March 2022. Its Return on Assets percentage for the same period stood at 0.39%.

Management


The executive management of APSEZ at present has the following members:
  • Chairman: Gautam S. Adani
  • CEO: Karan Adani
  • CFO: D Muthukumaran

Investor Relations Contact


Charanjit Singh,
Head- ESG and Investor Relations,
Adani Ports and SEZ Ltd.

Industry Overview


APSEZ Limited is the largest port operator and maritime logistics company in India. It faces competition from other key players such as Essar Shipping, Maersk, and Hapag-Lloyd. The respective market capitalisation of these key players is as follows:
  • Essar Shipping: ₹ 186 crore
  • Maersk: ₹ 2,94,685 crore
  • Hapag-Lloyd: ₹ 2,44,675 crore
An economy is supported by its logistics industry. India is among the world leaders, in terms of providing logistical services as of 2022. In the upcoming years, the market, which is currently valued at ₹25,000 crore, is anticipated to expand at a CAGR of 10-12%. In addition to other forms of transportation, the maritime logistics industry is one that has enormous potential but has not yet been completely explored.

Due to its advantageous location on the world's shipping lanes and one of the longest coastlines (approximately 7517 km), India has a sizable maritime industry. The potential for growing commerce volume is significant given that there are over 200 non-major ports, 12 large ports, and a vast network of navigable rivers.

Risks and concerns


This industry is constantly reminded that it cannot ignore the conventional risks it has faced for generations of the significant losses caused by natural disasters. Companies in this sector need to be ready for major storms at sea. This is especially crucial in the light of the intensity of natural weather disasters in recent years.

Registrar


Link Intime India Pvt. Ltd.
Address: C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai - 400083
Fax: 022 - 4918 6060
Toll-free number: 1800 1020 878

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