India's Adani Energy slides as margin pressure overpowers profit surge
BUZZ-India's Adani Energy slides as margin pressure overpowers profit surge ** India's Adani Energy Solutions ADAI.NS shares fall 5.78% to 1,225 rupees
** Co reported more-than-doubling of Q2 profit, aided by a deferred tax gain; EBITDA margin narrowed by 393 bps to about 31%
** Macquarie ("neutral", TP: 1,450 rupees) says growth in energy solutions platform helped earnings beat estimates, but sees balanced risk-reward given the co's leverage and valuations
** JM Financial ("buy", TP: 1,728 rupees) says quarterly EBITDA missed its estimate by 6%, with margins falling nearly 400 bps y/y as the transmission business reported lower margins
** Investec ("buy", TP: 1,434 rupees) says results beat expectations, supported by growth in transmission, energy solutions and smart metering businesses
** YTD stock up 19.04%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Recent news on Adani Energy Solutions
See all newsIndia's Adani Energy slides as margin pressure overpowers profit surge
India's Adani Energy Solutions Q2 profit more than doubles on tax gain, higher sales
Brief: Adani Energy Solutions Q2 Consol Net Profit 13.23 Billion Rupees
India's market regulator disposes of proceedings against Adani Group companies on public-float violations
Brief: India Markets Regulator Disposes Proceedings Against Adani Group Companies And Gautam Adani In Case Public Float Violations