CLSA has a buy on Adani Ports, target price Rs 485
In terms of earnings, Snowman M&A adds to Adani Port’s consolidated Ebitda by 0.7 % in FY21, the brokerage said.
By ETMarkets.com | Updated:
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CLSA has a buy rating on Adani Ports & Special Economic Zone in the long term with a target price of Rs 485. Shares of Adani Ports ended flat at Rs 363.65 on Friday while the BSE Sensex closed 411.38 points up at 41,575.14.
Company Financials
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 2821.16 crore, up .96% from last quarter sales of Rs 2794.47 crore and up 8.17 % from last year same quarter sales of Rs 2608.01 crore. The company has reported net profit after tax of Rs 1059.19 crore in the latest quarter.
The company’s top management includes Dr.Malay Mahadevia, Mr.Bharat Sheth, Mr.Gautam S Adani, Mr.Gopal Krishna Pillai, Mr.Karan Adani, Mr.Mukesh Kumar, Mr.Rajesh S Adani, Mrs.Nirupama Rao, Ms.Radhika Haribhakti, Prof.Ganesan Raghuram. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2019, the company has a total of 2,031,751,761 shares outstanding.
Investment Rationale
Adani Ports acquired Snowman Logistics at the bottom of the cycle to enter coldchain logistics, said CLSA. Funding is not a problem for Adani Ports as its post-acquisition leverage will rise 1.8 per cent in FY21, said CLSA. In terms of earnings, Snowman M&A adds Adani Port’s consolidated Ebitda by 0.7 per cent in FY21, the brokerage said.
Company Financials
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 2821.16 crore, up .96% from last quarter sales of Rs 2794.47 crore and up 8.17 % from last year same quarter sales of Rs 2608.01 crore. The company has reported net profit after tax of Rs 1059.19 crore in the latest quarter.
The company’s top management includes Dr.Malay Mahadevia, Mr.Bharat Sheth, Mr.Gautam S Adani, Mr.Gopal Krishna Pillai, Mr.Karan Adani, Mr.Mukesh Kumar, Mr.Rajesh S Adani, Mrs.Nirupama Rao, Ms.Radhika Haribhakti, Prof.Ganesan Raghuram. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2019, the company has a total of 2,031,751,761 shares outstanding.
Investment Rationale
Adani Ports acquired Snowman Logistics at the bottom of the cycle to enter coldchain logistics, said CLSA. Funding is not a problem for Adani Ports as its post-acquisition leverage will rise 1.8 per cent in FY21, said CLSA. In terms of earnings, Snowman M&A adds Adani Port’s consolidated Ebitda by 0.7 per cent in FY21, the brokerage said.
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