Whalesbook
Numbers toh dekho! (Results Breakdown)
Asal mein, Adani Ports ne Q4 FY26 mein sabki umeedon ko paar karte hue revenue mein 27% ka zordar jump dikhaya hai, jo ₹10,738 crore tak pahunch gaya. Pure fiscal year FY26 mein revenue 27% badha. EBITDA bhi 20% upar gaya, ₹6,020 crore par pahuncha. Aur yeh toh bas shuruaat hai! Adani Ports India ka pehla integrated transport operator bana hai jisne ek saal mein 500 million metric tonnes se zyada cargo handle kiya hai. Iske liye unhone ₹7.5 per share ka dividend bhi recommend kiya hai. Jabki stock abhi ₹1,675.50 ke aas paas trade ho raha hai, market cap ₹3.81 trillion ke paar hai.
Par margins mein kya hua? (The Catch)
Lekin, har kahaani mein ek twist hota hai, right? Yahaan par Adani Ports ki Q4 EBITDA margins thodi kam ho gayi hain, 56.1% par aa gayi hain. Yeh Motilal Oswal ke 58.8% ke estimate se kam hai, jo thoda chinta ka vishay ho sakta hai. Aur haan, company ka overall cargo market share bhi thoda ghata hai, 26% ho gaya hai pehle ke 26.3% se. Container segment mein bhi 45.2% se 46.3% ki kami dikhi hai. Yeh sab indicate karta hai ki competition kaafi badh rahi hai.
Analysts ab bhi bullish kyun? (Broker Radar)
Is sab ke bawajood, analysts kaafi positive hain. Bahut saare analysts ne 'Strong Buy' rating di hui hai aur average target price ₹1,830 ke aas paas hai. Motilal Oswal ne bhi 'Buy' rating rakhi hai aur target ₹1,900 diya hai. Inka kehna hai ki Adani Ports ka Mundra Port toh akela 200 million metric tonnes se zyada handle karta hai, jo ki ek bada advantage hai, chahe JSW Infra, Gujarat Pipavav, DP World jaise competitors hon ya govt ports ho.
Future ki planning aur risks (The Road Ahead)
FY27 ke liye company ne revenue ka target ₹43,000-45,000 crore aur EBITDA ₹25,000-26,000 crore rakha hai. Capex bhi ₹12,000-14,000 crore karne wale hain infrastructure ko aur mazboot karne ke liye. Bas thoda dhyaan rakhna hoga global uncertainty aur badhti competition ka, kyunki stock valuations kaafi high hain analysts ke targets ke hisaab se. Agar margins aur market share kam hote rahe toh yeh ek risk ho sakta hai.