October 24, 2024
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Stock Market

Adani Group Stocks jumps 7% after net profit increases 337% YoY; Do you own any?

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Stock Market

Adani Group Stocks jumps 7% after net profit increases 337% YoY; Do you own any?

Adani Group companies recently released their financial results, highlighting strong market performance on stocks. Adani Wilmar’s shares increased by 6 percent, and Adani’s Total Gas rose by 9 percent. The stock returns were due to better results and had a positive impact on the stock.

Adani Wilmar:

Share Price Movement

In Thursday’s trading session, Adani Wilmar Ltd’s share price was up by 6 percent trading at Rs. 338 per share from the previous close of Rs.318.90 per share. The share price has touched a day’s high of Rs. 344.60 and has given around 5.68 percent returns in the past year.

Q2 Result update

In its latest filing for the quarter ending September 2024, the company reported an 18 percent rise in revenue year on year, reaching Rs.14,460 crore compared to Rs.12,267 crore in Q2 FY24. On a quarter-over-quarter basis, the operational revenue grew by 2.05 percent from Rs.14,169 crore in Q1FY25.

During the same period, net profit increased by 337 percent year over year to Rs.311 crore in Q2 FY25, compared to a loss of Rs.131 crore in Q2 FY24, and decreased by 0.63 percent from Rs.313 crore in Q1 FY25.

Regarding return ratios, return on capital employed (ROCE) currently stands at around 10.4 percent, whereas return on equity (ROE) is at 3.65 percent. The stock is trading at a P/E (Price to Earnings) ratio of around 63.6. The company also has a current ratio of 1.28 and a debt-to-equity ratio of 0.29.

Segment-wise, Edible Oil which contributes around 75.91 percent of the revenue, Food, and FMCG contribute around 11.88 percent, and the remaining 12.21 percent from Industrial Essentials. The Edible Oil volumes have grown 17 percent year over year and Industrial Essentials have grown 33 percent year over year while Industrial Essentials fell by 15 percent.

Company Overview

Adani Wilmar Ltd, established in 1999 as a joint venture between Adani Group and Wilmar International, is a leading Indian FMCG company. They specialize in edible oils and food products, serving diverse consumer needs across India and exporting globally.