Whalesbook
So, kya hua exactly? Adani Ports ne Q4 FY26 mein ₹3,308 crore ka Net Profit dikhaya hai, jo ki pichhle saal se 9% zyada hai. Revenue bhi 26% badh kar ₹10,738 crore ho gaya. Aur poore saal FY26 ki baat karein toh revenue ₹38,736 crore tak pahunch gaya, jo company ke khud ke guidance se bhi upar hai. Ek aur badi baat, company ne first time Indian operator ke taur par 50 crore tonnes se zyada cargo volume cross kiya hai! Poore saal FY26 mein revenue 25% badha aur EBITDA 20% upar chadh gaya.
Yeh jo cargo volume 15% badh kar 43.1 million metric tonnes ho gaya April mein, usme sabse bada hath container aur dry cargo ka hai, jo 17% badda hai. Company apne domestic ports ko bhi expand kar rahi hai, jahan revenue 13% badha hai. Aur toh aur, logistics aur marine segments mein toh jaise toofani tezi aayi hai, revenues 55% aur 134% badhe hain FY26 mein!
Ab ek choti si dikkat bhi hai. Company ka jo logistics rail segment hai, uske volumes April mein 16% kam ho gaye hain. Matlab, ek taraf cargo bhag raha hai, toh doosri taraf rail mein thodi kami dikhi hai. TEUs ki baat karein toh woh 48,490 ho gaye hain.
Brokerage firms kya keh rahi hain? Majority toh 'Strong Buy' bol rahi hai. Kai logon ne toh price target bhi badha diya hai, jaise ₹1,950 aur ₹1,930 tak. Kuch analysts ka kehna hai ki company ka P/E ratio (around 25.37x se 30.28x) sector average se thoda kam hai, jo ki achha hai is growth ko dekhte hue. Waise, Indian logistics sector future mein ₹120 trillion ka hone wala hai, toh Adani Ports ke liye aage bahut scope hai.
Haan, ek baat hai ki FY27 mein earnings growth thoda slow ho sakta hai, 9% se 14% ke beech mein. Lekin company ka long-term vision bhi bada hai - FY31 tak revenue aur EBITDA double karna hai, aur December 2030 tak 1 billion tonnes cargo handle karna hai. Dividend bhi diya hai ₹7.50 per share ka. Bas yehi hai ki rail segment kaise perform karega aur valuation ke baare mein analysts thode confused hain, kyunki March mein kisi ne valuation issues ki wajah se 'Sell' rating bhi di thi. Overall, kafi positive vibes hain, bas rail segment par nazar rakhna.