On Tuesday, Adani Ports and Special Economic Zone (SEZ) Limited said that the company's board had suggested a 250 percent dividend for the fiscal year 2021–2022. The Adani Group company stated in an exchange filing that "the board has recommended a dividend at 250 percent (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 subsequent Annual General Meeting (AGM)."
The business added that it will notify shareholders in due course of the date of the AGM for the fiscal year that ended in March 2022 as well as the date on which dividends will be paid or warrants for such dividends will be distributed.
Adani Ports & SEZ Q4 Results
For the fourth quarter that concluded in March 2022, Adani Ports and Special Economic Zone Limited (APSEZ) recorded a reduction in consolidated net profit of 21.78% to Rs 1,033 crore. The largest integrated logistics provider in the nation had a consolidated net profit of Rs 1,321 crore during the same time of the previous fiscal, according to a BSE filing made late on Tuesday.
In comparison to the same quarter a year prior, the company's consolidated total income climbed to Rs 4,417.87 crore from Rs 4,072.42 crore. Additionally, overall spending increased to Rs 3,309.18 crore in the most recent quarter under review from Rs 2,526.91 crore in the prior quarter.
Karan Adani, the Chief Executive Officer and Full-Time Director of APSEZCAPEX declared that FY22 had been a fantastic year for APSEZ, one in which it had achieved numerous milestones and set new standards for the marine sector in India.
Adani Ports' total revenue increased by 27% to Rs 15,934 crore (excluding Gangavaram) as a result of growth in the port, logistics, and SEZ. Port revenue increased by 21% to Rs 12,964 billion. The logistics industry generated Rs 1,208 crore in revenue, which represents a 26% increase.
As previously mentioned, combined EBITDA without Gangavaram increased by 22% to Rs 9,811 crore, while port EBITDA increased by 11% to Rs 9,120 crore. Due in part to the diversification of cargo, the discontinuation of loss-making routes, and operational efficiency improvements, the logistics industry's EBITDA increased by 41% to Rs 320 crore. The ratio of net debt to EBITDA for FY22 was 3.4X, within the target range of 3-3.5X. The ratio would be 3.0X when Gangavaram Port EBITDA is included.
Adani Ports also acquired other companies and won a few sizable projects, it was added. According to the statement, "the acquisitions in FY22 represented an investment of around Rs 11,400 cr for APSEZ and was effectively managed alongside an organic CAPEX of approximately Rs 3,750 cr."
Stocks Fall Post Q4 Earnings
However, after the Adani Group company reported a 21% reduction in net profit for the quarter ending in March 2022, shares of Adani Ports dropped more than 3% on Wednesday. The stock opened at Rs. 736.50, down 2.04% from its previous BSE finish of Rs. 751.80. Adani Ports' stock fell 3.21 percent, reaching an intraday low of Rs. 727.60 on the BSE.
The stock trades below the moving averages of five, twenty, fifty, one hundred, and two hundred days. The share price of Adani Ports has decreased by 3.62 percent over the past year and increased by 0.81 percent so far this year. The company's market value on the BSE decreased to Rs 1.54 lakh billion. A total of 0.52 lakh shares of the company were traded, resulting in a turnover on the BSE of Rs 3.84 crore.