Adani Power m-cap hits Rs 1 trn-mark; AWL becomes 50th most-valued firm

Adani Power joined the elite group of companies with market capitalisation (m-cap) of Rs 1 trillion after the stock of Gautam Adani-led electric utilities company hit a new high of Rs 272.15. The shares were up 5 per cent on the BSE in an otherwise a weak market on Monday.

At 01:24 PM, Adani Power stood at 49th position in overall market-cap ranking with an m-cap of Rs 1.05 trillion, BSE data shows. On Friday, Adani Power had entered the list of top-50, most valued companies, in terms of market-cap. With today’s rally, the stock has zoomed 90 per cent in the past one month as compared to 1 per cent decline in the S&P BSE Sensex.

Adani Power is the sixth Adani Group Company with a market-cap of over Rs 1 trillion. Adani Green Energy (Rs 4.42 trillion), Adani Transmission (Rs 2.93 trillion), Adani Total Gas (Rs 2.70 trillion), Adani Enterprises (Rs 2.49 trillion), Adani Ports and Special Economic Zone (Rs 1.81 trillion) are others have a market cap in excess of Rs 1 trillion each.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat.

Adani Power had posted consolidated net profit of Rs 218.49 crore for third quarter of FY22 (Q3FY22). The company incurred a loss of Rs 288.74 crore while total income stood at Rs 5,593.58 crore relative to Rs 7,099.20 crore in the same period a year ago.

Meanwhile, recently listed Adani Wilmar (AWL), too, entered the list of top-50, most valued companies, in terms of market cap, as the stock price of company zoomed 82 per cent in the past one month. AWL stood at the 50th position in the overall ranking with a market cap of Rs 99,373 crore, data shows.

The stock of AWL has zoomed 232 per cent from its issue price of Rs 230 per share. The company had raised Rs 3,600 crore through initial public offer (IPO) and had debuted on the bourses on February 8, 2022.

Today, the stock hit a new high of Rs 764.60, up 5 per cent, after Indonesia, one of the largest exporters of palm oil to India, proposed a ban on palm oil exports starting April 28. India meets almost 45 per cent of its annual palm oil requirement from Indonesia.

AWL enjoys market-leading positions across kitchen essentials: branded edible oil, wheat flour, rice, etc., with a large household reach. Its growth strategy is premised on scaling up market share in existing categories, diversification into more FMCG segments, the pursuit of strategic acquisitions (widening product/geographic reach) and an improved margin/return profile over the medium term.

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