Gujarat Pipavav Port surges 5% post Q4 nos; consolidated PAT slips 9% YoY

Shares of Gujarat Pipavav Port climbed as a lot as 5.22 for each cent to Rs 69.fifty apiece on the BSE on Wednesday, a day soon after the business noted a 9.11 for each cent decline in its consolidated internet earnings at Rs 54.13 crore for the quarter ended March 2020. The business experienced posted earnings of Rs fifty nine.57 crore in the calendar year-in the past time period.

On a standalone foundation, the company’s earnings declined 6.seven for each cent to Rs forty seven.2 crore for the quarter ended March 31, 2020. The port experienced clocked a internet earnings of Rs fifty.6 crore in the fourth quarter of fiscal 2018-19, it stated in a regulatory filing to the BSE.

At 11:04 am, the stock was trading just about four for each cent bigger at Rs 68.55 apiece on the BSE. In comparison, the S&P BSE Sensex was ruling 237 factors or .seven for each cent bigger at 34,193.seventy nine factors.

The stock of Gujarat Pipavav experienced hit a 52-week large of Rs ninety nine.30 on February 6, 2020 when its 52-week lower stands at Rs forty five.fifty, touched on March 24 this calendar year.

For the quarter less than critique, the company’s earnings, on a consolidated foundation, declined 10.10 for each cent to Rs 161.ninety four crore as towards Rs 180.13 crore in the corresponding quarter of the preceding fiscal.

For the whole calendar year, internet earnings rose 34.ninety seven for each cent to Rs 319.forty four crore in the calendar year ended March 2020 as towards Rs 236.68 crore in the calendar year ended March 2019. Gross sales rose four.seventy six for each cent to Rs 735.37 crore as towards Rs 701.98 crore throughout the preceding calendar year ended March 2019.

Even further, the company’s board also proposed a Ultimate Dividend of Rs 3.fifty for each share on the fairness share cash, matter to acceptance by the Members in the Company’s Annual Common Conference scheduled for Thursday, August 6, 2020.

Analysts at Emkay Worldwide Monetary Solutions have lower their earnings estimates for FY21/22 by 16 for each cent each and every to variable in the slowdown in EXIM (exports imports) trade and evacuation concerns throughout India. “We now count on volumes in the container/bulk/liquid section to fall by 5%/3%/2% in FY21. Having said that, with anticipation of revival in enterprise action by the conclude of FY21, we count on quantity in these three segments to strengthen by 10%/5%/10% in FY22E,” they wrote in a note dated June 9.

Factoring in the same, the brokerage has lower sum-of-the-parts (SoTP)-dependent TP to Rs eighty four from Rs ninety seven. Having said that, it has upgraded the stock to get offered the appealing valuation as the counter witnessed steep correction throughout the latest industry turmoil.

“Delay in revival throughout the industrial action will pose a chance to our rating,” the brokerage cautions.