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Adani Transmission Ltd Stock Analysis

Large Cap
Evaluated by 932 users | BSE: 539254 | NSE: ADANITRANS |
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Adani Transmission (ATL) is the largest private power sector transmission and retail electricity distribution company in India. The company builds, commissions, operates and maintains electric power transmission systems, and distributes electricity in the...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Adani Transmission Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 000-5.71%-0.24%2.31%6.52%4.86%4.64%4.04%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 000022.9274810835833858
Y-o-Y Gr. Rt.-NANANANA1097.4%195%3.2%-0.3%3%
Adjusted EPS (Rs.) 000-0.54-0.16-0.530.02-0.250.39-0.3
Y-o-Y Gr. Rt.-NANANANANANA-1350%NA-176.9%
Book Value per Share (Rs.) 0009.469.8420.4519.2918.2215.9113.92
Adjusted Net Profit 0000-17.9-58.61.8-27.142.4-32.8
Net Op. Cash Flow (Rs. Cr.) 0000-11.557.5-14.949.623.1-17.4
Debt to Cash Flow from Ops 0000-228.8692.32-534.93157.35456.85-641.8
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Adani Transmission Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales NA106.4%1.9%3%
Adjusted EPS NANA-346.6%-176.9%
Book Value per Share 07.2-10.3-12.5
Share Price - 112.7% 114.6% 582.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 000-5.71-3.35-3.530.08-0.911.51-2
Operating Profit Margin (%) 00001.4424.13.09-0.65-1.32-2.66
Net Profit Margin (%) 0000-78.27-21.340.23-3.255.09-3.82
Debt to Equity 00002.452.363.762.026.037.27
Working Capital Days 00002192,5672,3583,1842,9852,439
Cash Conversion Cycle 00001956741281-10
Corporate Governance What do we look at?
Corporate Governance
Board Credentials
Promoter's holding
Transparency
Integrity
Entity Percentage Holding
Promoters 74.92%
Institutions 22.85%
Non-Institutions 2.23%
Pledged *44.4352.0250.3743.9335.2953.6335.7829.1127.7712.02
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Adani Transmission Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that Adani Transmission Ltd is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Adani Transmission Ltd's performance infers:

Adani Transmission Ltd earnings have grown by 0%, whereas share price has appreciated 112.7% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

Data is not available for this company

Adani Transmission (ATL) is the largest private power sector transmission and retail electricity distribution company in India. The company builds, commissions, operates and maintains electric power transmission systems, and distributes electricity in the suburbs of Mumbai. Its operational projects in Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh and Haryana.

Business

Adani Transmission (ATL) is the largest private power sector transmission and retail electricity distribution company in India. The company builds, commissions, operates and maintains electric power transmission systems, and distributes electricity in the suburbs of Mumbai. Its operational projects in Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh and Haryana.

Business area of the company

The company’s power transmission business in India focuses on the execution of new transmission systems under licensing from central and state electricity bodies, and Operations and Maintenance (O&M) of existing assets through outsourced partners. Its distribution business focuses on two aspects. First, expanding its customer base through high reliable & affordable power supply and exceptional customer service provided through continuous investments & technological upgradation. Second, modernising the operating model through Advance Metering Infrastructure to bring operational efficiency, flexibility and become at par with global utilities. Besides, in FY19, the company forayed into the retail electricity distribution space with the acquisition of Mumbai’s Power Generation, Transmission and Distribution (GTD) business license. Today, Adani Electricity Mumbai (AEML) caters to many customers in the Mumbai suburbs and Mira-Bhayander Municipal Corporation in the Thane district.

Awards

  • 7th FICCI Quality Systems Excellence Awards for Industry: AEML-Transmission conferred with the Platinum Prize (1st Prize) in Medium category in the Power Sector.
  • Performance Award-5S: AEML-T conferred with 'Par Excellence' Performance Award in 5S National Conclave.
  • 5S Certificate: Transmission–TLM Dahanu and Capex Store received 5S Certificate for successfully implementation of 5S Workplace Management System.
  • ISO 27001 Certificate: AEML-T bagged ISO 27001 Certification for an Information Security Management.

Milestones:

  • 2017: Attains a new milestone of 8500 ckt kms of transmission lines in operation by completing the acquisition of operational transmission assets of Western Region Strengthening System Schemes - B & C of Reliance Infrastructure.
  • 2017: Signs binding SPA with R-Infra to acquire Integrated Business of Generation, Transmission, Distribution and retail of power for Mumbai City.
  • 2018: Adani Group enters Retail Electricity Distribution Business with Largest Private Network.
  • 2019: Completes acquisition of Bikaner-Khetri transmission project.
  • 2019: Signs agreement to execute WRSS XXI (A) transmission project linked to Renewable Power Generation in Gujarat.
  • 2019: Receives Letter of Intent (LOI) for Centre Sector Transmission Project linked to Renewable Energy in state of Gujarat - LOI received for Lakadia Banaskantha Transco.
  • 2019: Receives LOI for Centre Sector Transmission Project linked to Renewable Energy in state of Gujarat - LOI received for Jam Khambaliya Transco.
  • 2019: Receives LOI for Transmission Project in the State of Maharashtra on Tariff Based Competitive Bidding (TBCB) Model,
  • 2020: Circles up first ever US private placement for $310 million.
  • 2020: Announces completion of Qatar Investment Authority investment in Adani Electricity Mumbai.
  • 2020: Signs agreement to execute Kharghar Vikhroli Transmission.
  • 2020: Signs definitive agreements with Kalpataru for acquisition of Alipurduar Transmission.
Puchho Befikar
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