Adani Ports and Special Economic Zone, a company under the Gautam Adani Group, has shown sluggish performance recently.
However, brokerage firm Macquarie holds a positive outlook. Macquarie projects that Adani Ports shares could increase by over 30%, setting a target price of ₹1500 per share.
The brokerage has initiated coverage with an “outperform” rating for the stock.
Brokerage Insights
Macquarie believes that Adani Ports is well-positioned to benefit from India’s long-term development prospects.
They maintain an optimistic view due to the company’s strong market position.
Currently, the stock is priced at ₹1136.15 on the BSE index, marking a 0.56% decline from the previous day.
The 52-week low was ₹993.85 on November 21, 2024, while the 52-week high reached ₹1607.95 in June 2024.
Company Cargo Volume Performance
In February, Adani Ports reported a 3% year-on-year increase in total cargo volume, handling 36.5 million metric tonnes (MMT).
This growth was driven by a 16% rise in container volumes and an increase in gas volumes.
For the fiscal year 2025 up to February, the company managed 408.7 MMT of cargo, marking a 7% growth compared to the previous fiscal year.
December Quarter Financial Results
Adani Ports recorded a 14% rise in net profit, reaching ₹2,518.39 crore in the December quarter of the current financial year, compared to ₹2,208.21 crore in the same quarter the previous year.
Total income grew to ₹8,186.90 crore, up from ₹7,426.95 crore. However, total expenses also increased, rising to ₹5,190.53 crore from ₹4,588.10 crore in the corresponding quarter of the previous year.
