Adani Ports and SEZ will release its Q3 earnings on Tuesday.
The import/export data for the quarter gone by has not been that stellar for Adani Ports, as a consequence, the street is expecting muted results, which has been factored in the stock price as well.
Over the past month, there has been 10 percent decline in the stock price. It has slid from over Rs 450 to Rs 360 now.
The revenue is expected to jump up by 10 percent to about Rs 3,100 crore. Margin is expected to decline on a year-on-year basis. Last year there was a one-off which supported margins.
Profit may be down 12 percent on a YoY basis, but quarter-on-quarter it should be steady. Profit is expected to come in at Rs 1,100 crore. Last year there was a one-time forex gain of about Rs 370 crore as well.
A ramp up in revenues from new ports like Dhamra as well as Kattupalli is expected. Analysts are also expecting a big uptick in the non-port income because in the first half of the year the special economic zone (SEZ) income was on the lower side.
The key thing to watch out would be any adjustment on account of the forex translation. Separately, the street will also be watching out for the management commentary as at the end of the last quarter Adani Ports had cut down its volume as well as revenue guidance by 8-10 percent in terms of volumes as well as 11-13 percent in terms of revenues.