Mumbai, December 28 (IANS). Leading brokerage Ventura Securities Ltd has set a market price target of Rs 3,801 for Adani Enterprises shares in the next two years, which would be an upside of 57.8 per cent from the current level.
The share price of the largest company of Adani Group is currently at Rs 2,409 per share.
The brokerage has said in its note that in case of doing very well, its price can increase by 138.6 percent to Rs 5,748 per share.
The note said, “We estimate the company’s revenue to reach Rs 1,66,615 crore at a 20 percent compound annual growth (CAGR) rate during FY 2024-25 to 2026-27. Its EBITDA during this period will Margin will be 20 percent and enterprise value (EV) vs EBITDA ratio will be 23.4. This will take the share price to Rs 5,748. Will go.
If Ventura’s note is to be believed, Adani Enterprises is growing rapidly. The company’s consolidated revenue will reach Rs 1.56 lakh crore at a CAGR of 17.5 percent from FY 2024 to 2027.
“EBITDA and net margin are expected to grow from 6.47 per cent to 18.3 per cent and 2.55 per cent to 5.9 per cent, respectively. Return ratios – ROE and ROIC – are also expected to grow from 5.63 per cent to 14.5 per cent and 0.99 per cent to 11.3 per cent, respectively,” Ventura said. It is expected to increase by.
The note said that the main contribution to this growth will be the company’s expansion in airport, solar and wind turbine business and revenue from copper business.
Ventura said that the flagship company of Adani Group has set a target of capital investment of Rs 6.5 lakh crore to Rs 7 lakh crore in the next decade. In this, maximum focus will be on airports, data centres, copper and green hydrogen.
“The capital for this expansion will be raised through debt which may increase the ratio of debt versus equity and debt versus EBITDA over the next few years,” it said.
–IANS
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