#AdaniGroup - Date 24 Feb 2023

 #Adanigroup

Date 24th Feb 2023

While 6 scrips are still at lower circuits others are slightly better.

#AdaniTransmission down 5%

#AdaniGreen down 5%

#AdaniEnterprises down 5%

#AdaniTotalGas down 5%

#AdaniPorts traded positive up by 2%

#AdaniPower down 4.99%

#AdaniWilmar down 2%

#NDTV down 4%

The downslide likely to continue. Avoid bottom fishing as most of them appear to be in a bottomless pit.

Investors advised to stay away investing in this group for next 3-6 months and identify scrip which has strong financials once the down turn is complete.

Adani Wilmar - Q3 FY 2023 Results Analyzed

 Adani Wilmar Limited

Q3 FY 2023 Results

Adani Wilmar NSE -0.86 %'s consolidated net profit rose 16% to Rs 246 crore for the three months ended December 2022. The same was Rs 211 crore in the corresponding period of last year.

Revenue from operations increased 7% year-on-year (YoY) to Rs 15,438 crore in the December quarter. It was Rs 14,370 crore in the year-ago period.

Segment-wise, the company recorded 26% growth in edible oils volume, while revenues from the same grew 4% YoY to Rs 12,581 crore.

Revenues from the Food and FMCG segment rose 45% to Rs 1,020 crore against Rs 703 crore in the same quarter last year. This segment contributed 15% by volume to the overall sales and delivered 27% volume growth in the third quarter.

The company has reported an EBITDA of Rs 623 crore during the quarter under review, higher by 23% year-on-year. Currently, the company has no outstanding long-term debt as on December 2022.

While the scrip has lost 24% during last 1 month, it lost 34% in last 6 months but on yearly basis it gained 15%.

There is lot of bad news about Adani Group and it is better to stay away till clarity emerges. Any declines to Rs.350 should be considered as buying opportunity only for long term investors.

Avoid