Adani Enterprises reported a decline in revenue and net profit for Q4FY18. Revenue grew by 13.5% yoy to Rs10,234cr. EBITDA stood at Rs656cr, flat yoy. EBIDTA margin rose by 88bps yoy to 6.4%. Adjusted Net Profit stood at Rs354cr for Q4FY18, up 6.8% yoy.
Coal Trading volumes fell by 25% yoy to 16.1mn Metric Tonnes vs. 21.4mn MT in Q4FY17. The company has entered into Coal Mine Services Agreement with NLC India Limited (NLCIL) on March 23, 2018 for the Talabira I and II coal blocks. The project is expected to generate a revenue of Rs12,200cr. The contract period is till the exhaustion of reserves (~35 years). With this new contract, the contractual mining capacity of Adani Enterprises stands at 52mtpa.
Coal mining volumes fell by 12% to 1.94mn MT vs. 2.21mn MT in Q4FY17.
Renewable Power Generation stood at 545mn units in Q4FY18, up 31.3% yoy.
City Gas Distribution volumes rose by 18% yoy to 129 Million Metric Standard Cubic Meters (“MMSCM”) vs. 110 MMSCM in Q4FY17.
The board of directors declared a dividend of Rs0.4 per share, a dividend yield of 0.3% (based on current market price).
Adani Enterprises Ltd is currently trading at Rs. 127.05, down by 2.1 points or 1.63% from its previous closing of Rs. 129.15 on the BSE.
The scrip opened at Rs. 128 and has touched a high and low of Rs. 130.55 and Rs. 126 respectively. So far 55,50,346 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 100 DMA.
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