Adani Transmission gains 3.5%on acquiring a transmission project from Essar Power

Adani Transmission gains 3.5%on acquiring a transmission project from Essar Power

by 5paisa Research Team Last Updated: 2022-06-06T16:12:35+05:30

The enterprise value of the transaction is Rs 1,913 crore.

Adani Transmission Ltd (ATL), India’s private sector powerhouse, has been trending on Dalal Street as it has rallied by about 3.5% from its previous close of Rs 1953. The scrip opened at Rs 2015.05 and made a day’s high of Rs 2029.65.

The company has announced an acquisition of Essar’s Mahan-Sipat transmission project for a sum of Rs 1,913 crore. The acquisition is supposed to add 673 ckt km inter-state operational line length. This will consolidate the company’s position in central India. The management aims to reach a target of 20,000 ckt km before time.

Talking about its recent quarterly results, in Q4FY22, revenue grew by 9.1% YoY to Rs 2974.73 crore from Rs 2726.61 crore in Q4FY21. On a sequential basis, the top-line was up by 2.16%. PBIDT (Ex OI) was reported at Rs 1191.15 crore, up by 15.96% as compared to the year-ago period and the corresponding margin was reported at 40.04%, expanding by 237 basis points YoY. PAT was reported at Rs 239.63 crore, up by 3.36% from Rs 231.83 crore in the same quarter of the previous fiscal year. The PAT margin stood at 8.06% in Q4FY22 contracting from 8.5% in Q4FY21.

Adani Transmission (ATL) is the transmission business arm of the Adani Group, one of India’s largest business conglomerates. The company is one of the largest private sector power transmission companies in India with a presence across the western, northern and central regions of India. Also, the company is India’s largest private sector power distribution utility, distributing electricity for over many decades in Mumbai. Moreover, the company is among India’s most technologically sophisticated power transmission companies. Over the years, it has created a niche for itself in the country’s power transmission sector. The stock has a 52-week high of Rs 9,700 and a 52-week low of Rs 3965.35.

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