Adani Ports and SEZ Ltd crosses ₹1 trillion mcap

On Monday, Adani Ports and Special Economic Zone Ltd shares hit a record high resulting it to cross ₹1 trillion in market capitalisation for the first time. Previously, Adani Green Energy Ltd achieved the milestone in the Adani Group.

The shares have rallied more than 34% so far this year.

The stock hit an all-time high of ₹492.85 apiece on the BSE today, rising nearly 3% from its previous close. As of 12:39 pm, it traded at ₹492.79, with a mcap of ₹1.01 trillion. In November 2020, Adani Ports and SEZ Ltd had surged 14% whereas in the month of December it has surged 20% till now.

The October 2020 Krishnapatnam Port acquisition is expected to generate an operating income of around ₹1,200 crore for the fiscal ending March 2021, the company reported.

“Without incremental Capex, reorganisation of operational processes, contracting processes and rationalization of overhead resulted in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) improvement of Rs 3 billion per annum. There is the scope of expansion in EBITDA margin to 78% by FY25, led by capacity expansion from 64 million tonnes to 100 million tonnes over the next five years with a CAPEX of Rs 7.5 billion and value addition through cargo diversity and capital management,” Elara Capital had said in a 7 December note.

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