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Adani Transmissions

NSEI:ADANITRANS
Snowflake Description

Moderate growth potential with poor track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ADANITRANS
NSEI
₹203B
Market Cap
  1. Home
  2. IN
  3. Utilities
Company description

Adani Transmissions Limited operates as a transmission utility company in India. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Adani Transmissions has significant price volatility in the past 3 months.
ADANITRANS Share Price and Events
7 Day Returns
1.5%
NSEI:ADANITRANS
4%
IN Electric Utilities
8.9%
IN Market
1 Year Returns
-15%
NSEI:ADANITRANS
-23.5%
IN Electric Utilities
-30.6%
IN Market
ADANITRANS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Adani Transmissions (ADANITRANS) 1.5% -25% -43.4% -15% 177.6% -
IN Electric Utilities 4% -17% -24.8% -23.5% -20% -12.3%
IN Market 8.9% -24.8% -29.4% -30.6% -21.5% -10.4%
1 Year Return vs Industry and Market
  • ADANITRANS outperformed the Electric Utilities industry which returned -23.5% over the past year.
  • ADANITRANS outperformed the Market in India which returned -30.6% over the past year.
Price Volatility
ADANITRANS
Industry
5yr Volatility vs Market

Value

 Is Adani Transmissions undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Adani Transmissions to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Adani Transmissions.

NSEI:ADANITRANS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.8%
Perpetual Growth Rate 10-Year IN Government Bond Rate 6.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:ADANITRANS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 6.5%
Equity Risk Premium S&P Global 7.9%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.25
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.254 (1 + (1- 35%) (88.31%))
0.598
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 6.48% + (0.8 * 7.85%)
12.76%

Discounted Cash Flow Calculation for NSEI:ADANITRANS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Adani Transmissions is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NSEI:ADANITRANS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 12.76%)
2020 5,989.00 Analyst x1 5,311.28
2021 2,363.77 Analyst x2 1,859.07
2022 19,513.74 Analyst x2 13,610.54
2023 20,785.38 Est @ 6.52% 12,856.94
2024 22,137.60 Est @ 6.51% 12,143.81
2025 23,576.08 Est @ 6.5% 11,469.42
2026 25,106.78 Est @ 6.49% 10,831.92
2027 26,735.90 Est @ 6.49% 10,229.50
2028 28,470.03 Est @ 6.49% 9,660.34
2029 30,316.12 Est @ 6.48% 9,122.69
Present value of next 10 years cash flows ₹97,095.00
NSEI:ADANITRANS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ₹30,316.12 × (1 + 6.48%) ÷ (12.76% – 6.48%)
₹514,022.31
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹514,022.31 ÷ (1 + 12.76%)10
₹154,678.98
NSEI:ADANITRANS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹97,095.00 + ₹154,678.98
₹251,773.98
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹251,773.98 / 1,099.81
₹228.92
NSEI:ADANITRANS Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:ADANITRANS represents 1.00159x of BSE:539254
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00159x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 228.92 x 1.00159
₹229.29
Value per share (INR) From above. ₹229.29
Current discount Discount to share price of ₹189.05
= -1 x (₹189.05 - ₹229.29) / ₹229.29
17.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Adani Transmissions is available for.
Intrinsic value
18%
Share price is ₹189.05 vs Future cash flow value of ₹229.29
Current Discount Checks
For Adani Transmissions to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Adani Transmissions's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Adani Transmissions's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Adani Transmissions's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Adani Transmissions's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:ADANITRANS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in INR ₹2.92
BSE:539254 Share Price ** BSE (2020-03-31) in INR ₹188.75
India Electric Utilities Industry PE Ratio Median Figure of 7 Publicly-Listed Electric Utilities Companies 8.94x
India Market PE Ratio Median Figure of 2,613 Publicly-Listed Companies 9.25x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Adani Transmissions.

NSEI:ADANITRANS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:539254 Share Price ÷ EPS (both in INR)

= 188.75 ÷ 2.92

64.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adani Transmissions is overvalued based on earnings compared to the IN Electric Utilities industry average.
  • Adani Transmissions is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Adani Transmissions's expected growth come at a high price?
Raw Data
NSEI:ADANITRANS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 64.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
24.2%per year
India Electric Utilities Industry PEG Ratio Median Figure of 5 Publicly-Listed Electric Utilities Companies 1x
India Market PEG Ratio Median Figure of 400 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

NSEI:ADANITRANS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 64.57x ÷ 24.2%

2.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adani Transmissions is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Adani Transmissions's assets?
Raw Data
NSEI:ADANITRANS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in INR ₹73.13
BSE:539254 Share Price * BSE (2020-03-31) in INR ₹188.75
India Electric Utilities Industry PB Ratio Median Figure of 9 Publicly-Listed Electric Utilities Companies 0.64x
India Market PB Ratio Median Figure of 3,612 Publicly-Listed Companies 0.62x
NSEI:ADANITRANS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:539254 Share Price ÷ Book Value per Share (both in INR)

= 188.75 ÷ 73.13

2.58x

* Primary Listing of Adani Transmissions.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adani Transmissions is overvalued based on assets compared to the IN Electric Utilities industry average.
X
Value checks
We assess Adani Transmissions's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. Adani Transmissions has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Adani Transmissions expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Adani Transmissions expected to grow at an attractive rate?
  • Adani Transmissions's earnings growth is expected to exceed the low risk savings rate of 6.5%.
Growth vs Market Checks
  • Adani Transmissions's earnings growth is expected to exceed the India market average.
  • Adani Transmissions's revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:ADANITRANS Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:ADANITRANS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 24.2%
NSEI:ADANITRANS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 7.2%
India Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 11%
India Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
India Market Earnings Growth Rate Market Cap Weighted Average 19.6%
India Market Revenue Growth Rate Market Cap Weighted Average 8.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:ADANITRANS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:ADANITRANS Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 126,662 37,723 10,960 2
2021-03-31 118,947 27,230 9,683 3
2020-03-31
2020-03-31 110,115 31,375 8,694 3
NSEI:ADANITRANS Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-12-31 107,746 4,885
2019-09-30 107,401 46,009 4,385
2019-06-30 95,428 2,976
2019-03-31 73,055 25,914 2,535
2018-12-31 56,514 5,545
2018-09-30 46,024 12,072
2018-06-30 39,567 11,787
2018-03-31 39,445 21,983 10,934
2017-12-31 39,732 10,876
2017-09-30 29,201 3,450
2017-06-30 28,568 3,778
2017-03-31 28,757 21,888 4,164

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Adani Transmissions's earnings are expected to grow significantly at over 20% yearly.
  • Adani Transmissions's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:ADANITRANS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Adani Transmissions Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ADANITRANS Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 9.98 12.30 7.67 2.00
2021-03-31 8.78 10.00 7.56 2.00
2020-03-31
2020-03-31 7.90 7.90 7.90 1.00
NSEI:ADANITRANS Past Financials Data
Date (Data in INR Millions) EPS *
2019-12-31
2019-09-30
2019-06-30 2.92
2019-03-31 2.30
2018-12-31
2018-09-30
2018-06-30 9.61
2018-03-31 9.94
2017-12-31 9.90
2017-09-30 3.14
2017-06-30 3.43
2017-03-31 3.79

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Adani Transmissions is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Adani Transmissions's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Adani Transmissions has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Adani Transmissions performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Adani Transmissions's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Adani Transmissions's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Adani Transmissions's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Adani Transmissions's 1-year earnings growth is negative, it can't be compared to the IN Electric Utilities industry average.
Earnings and Revenue History
Adani Transmissions's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Adani Transmissions Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ADANITRANS Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 107,745.60 4,885.00 10,223.00
2019-09-30 107,400.90 4,385.00 10,307.80
2019-06-30 95,428.30 2,975.70 8,684.40
2019-03-31 73,054.50 2,534.90 6,203.30
2018-12-31 56,513.90 5,545.20 3,640.20
2018-09-30 46,023.50 12,071.80 1,285.30
2018-06-30 39,567.00 11,786.70 506.30
2018-03-31 39,444.80 10,934.30 505.90
2017-12-31 39,731.60 10,875.70 514.00
2017-09-30 29,200.90 3,449.70 545.30
2017-06-30 28,567.60 3,778.20 576.10
2017-03-31 28,757.10 4,164.30 536.40
2016-12-31 26,820.52 4,114.03 1,231.65
2016-09-30 24,793.32 3,869.03 1,192.85
2016-06-30 23,608.72 4,495.53 1,168.25
2016-03-31 21,970.10 3,679.40 376.30
2015-12-31 16,827.70 2,495.30 372.50
2015-03-31 13,751.65 891.51 1,056.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Adani Transmissions has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Adani Transmissions used its assets less efficiently than the IN Electric Utilities industry average last year based on Return on Assets.
  • Adani Transmissions's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Adani Transmissions's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Adani Transmissions has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Adani Transmissions's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Adani Transmissions's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Adani Transmissions's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Adani Transmissions's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Adani Transmissions's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Adani Transmissions Company Filings, last reported 3 months ago.

NSEI:ADANITRANS Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 92,694.00 179,089.00 31,671.40
2019-09-30 92,694.00 177,914.30 31,671.40
2019-06-30 80,428.80 201,369.90 3,322.00
2019-03-31 80,428.80 201,369.90 3,322.00
2018-12-31 77,685.80 225,293.60 28,144.10
2018-09-30 77,685.80 183,883.00 28,144.10
2018-06-30 60,564.90 104,283.40 6,114.00
2018-03-31 60,564.90 104,283.40 6,090.90
2017-12-31 29,943.60 83,560.70 10,135.80
2017-09-30 29,943.60 83,560.70 10,135.80
2017-06-30 29,465.30 89,757.90 1,185.30
2017-03-31 29,465.30 89,757.90 1,203.90
2016-12-31 28,277.20 88,044.10 11,458.60
2016-09-30 28,277.20 88,044.10 11,458.60
2016-06-30 26,708.86 86,539.93 1,711.75
2016-03-31 26,718.10 85,849.50 289.40
2015-12-31 24,961.70 77,776.30 1,410.90
2015-03-31 10,832.55 97,011.92 150.86
  • Adani Transmissions's level of debt (191.9%) compared to net worth is high (greater than 40%).
  • Unable to establish if Adani Transmissions's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (25.9%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Adani Transmissions's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Adani Transmissions has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Adani Transmissions's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Adani Transmissions dividends. Estimated to be 0.58% next year.
If you bought ₹2,000 of Adani Transmissions shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Adani Transmissions's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Adani Transmissions's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:ADANITRANS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
India Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 5.2%
India Market Average Dividend Yield Market Cap Weighted Average of 1419 Stocks 1.9%
India Minimum Threshold Dividend Yield 10th Percentile 0.5%
India Bottom 25% Dividend Yield 25th Percentile 0.9%
India Top 25% Dividend Yield 75th Percentile 4.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:ADANITRANS Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 1.09 1.00
2021-03-31 1.09 1.00
2020-03-31
2020-03-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Adani Transmissions has not reported any payouts.
  • Unable to verify if Adani Transmissions's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Adani Transmissions's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Adani Transmissions has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (8.8x coverage).
X
Income/ dividend checks
We assess Adani Transmissions's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Adani Transmissions afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Adani Transmissions has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Adani Transmissions's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Anil Sardana
COMPENSATION ₹0
AGE 60
TENURE AS CEO 1.8 years
CEO Bio

Mr. Anil Kumar Sardana, B.E. (Electrical), AICWA, PGDBM, has been Managing Director, Chief Executive Officer and Executive Director of Adani Transmissions Limited since May 10, 2018. Mr. Sardana served as Managing Director of the Tata Power Company Limited since February 1, 2011 until April 30, 2018 and served as its Chief Executive Officer until April 30, 2018. Mr. Sardana has over three decades of experience in the power & infrastructure sector and has worked with companies like NTPC Limited, BSES (prior to it becoming an ADAG group company), Tata Power Delhi Distribution (erstwhile NDPL). He served as Managing Director of North Delhi Power Ltd (NDPL) until March 1, 2007. Mr. Sardana served as Vice President of Business Development at Reliance Infrastructure Limited. He served as Managing Director of Tata Teleservices Limited at Viom Networks Limited from August 3, 2007 to February 1, 2011. He served as Managing Director of Tata Power Delhi Distribution Limited. Mr. Sardana also served as the Executive Director (Business Development & Strategy) for Tata Power from March 01, 2007 to August 03, 2007. He served as Vice President Commissioner of PT Baramulti Suksessarana Tbk since 2013. He served as Managing Director at Tata Teleservices (Maharashtra) Limited from May 20, 2010 to January 31, 2011. He serves as Chairman of Tata Power Delhi Distribution Limited. He has been Director at Tata Power Delhi Distribution Limited since March 8, 2011. He served as Director of the Tata Power Company Limited since February 1, 2011 until April 30, 2018. He served as Chairman of Tata Power Renewable Energy Limited and has been its Director from March 01, 2014 to April 30, 2018. He was Chairman of the Board of Coastal Gujarat Power Ltd. He served as Chairman of Maithon Power Limited. He has been a Director of Tata Power Solar Systems Limited since March 25, 2014. He has been a Director at Tata Power Trading Company Limited since October 26, 2015. He serves as a Director at Khopoli Investments Limited. He served as Director at GSM Association and Viom Networks Limited. He served as Director at Bhira Investments Limited since February 15, 2011. He served as Independent Director at EMCO Limited from January 27, 2010 to January 14, 2011. He served as Director at Tata Teleservices Limited. He served as Director at Tata Teleservices (Maharashtra) Limited from March 12, 2008 to May 23, 2011. Mr. Sardana holds a Bachelor of Engineering in Electrical Discipline from University of Delhi (Delhi College of Engineering) and a management degree as well as diploma in Senior Management Programme from Indian Institute of Management - Ahmedabad (MDP - IIMA).

CEO Compensation
  • Insufficient data for Anil to compare compensation growth.
  • Insufficient data for Anil to establish whether their remuneration is reasonable compared to companies of similar size in India.
Management Team Tenure

Average tenure and age of the Adani Transmissions management team in years:

4.7
Average Tenure
57
Average Age
  • The tenure for the Adani Transmissions management team is about average.
Management Team

Anil Sardana

TITLE
MD, CEO & Executive Director
AGE
60
TENURE
1.8 yrs

Gautam Adani

TITLE
Founder & Chairman
AGE
57

Kaushal Shah

TITLE
Chief Financial Officer
COMPENSATION
₹12M
TENURE
4.4 yrs

Jaladhi Shukla

TITLE
Compliance Officer & Company Secretary
TENURE
5 yrs

Rajeshbhai Adani

TITLE
Executive Director
AGE
55

Dipakrashmi Tripathi

TITLE
Senior Vice President of Transmission
COMPENSATION
₹7M
AGE
57
TENURE
9.7 yrs

Vishal Shah

TITLE
Chief Sustainability Officer
Board of Directors Tenure

Average tenure and age of the Adani Transmissions board of directors in years:

4.7
Average Tenure
63
Average Age
  • The tenure for the Adani Transmissions board of directors is about average.
Board of Directors

Anil Sardana

TITLE
MD, CEO & Executive Director
AGE
60
TENURE
1.8 yrs

Gautam Adani

TITLE
Founder & Chairman
AGE
57

Rajeshbhai Adani

TITLE
Executive Director
AGE
55
TENURE
4.7 yrs

Kalaikuruchi Jairaj

TITLE
Non-Executive & Independent Director
COMPENSATION
₹625K
AGE
67
TENURE
4.7 yrs

Meera Shankar

TITLE
Non-Executive & Independent Director
COMPENSATION
₹510K
AGE
69
TENURE
4.7 yrs

Ravindrarai Harshadrai Dholakia

TITLE
Non-Executive & Independent Director
COMPENSATION
₹510K
AGE
66
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Adani Transmissions's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Adani Transmissions has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

A Look At The Intrinsic Value Of Adani Transmissions Limited (NSE:ADANITRANS)

We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (₹, Millions) ₹28.2b ₹27.3b ₹27.3b ₹27.9b ₹29.0b ₹30.4b ₹32.2b ₹34.2b ₹36.5b ₹39.0b Growth Rate Estimate Source Analyst x1 Analyst x2 Est @ 0.02% Est @ 2.28% Est @ 3.86% Est @ 4.97% Est @ 5.74% Est @ 6.29% Est @ 6.66% Est @ 6.93% Present Value (₹, Millions) Discounted @ 14.43% ₹24.6k ₹20.8k ₹18.2k ₹16.3k ₹14.8k ₹13.6k ₹12.5k ₹11.6k ₹10.8k ₹10.1k ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= ₹153.4b We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 7.6%.

Simply Wall St -

Is Adani Transmissions Limited's (NSE:ADANITRANS) 7.0% ROE Worse Than Average?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Adani Transmissions: 7.0% = ₹2.5b ÷ ₹80b (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does Adani Transmissions Have A Good Return On Equity? … Combining Adani Transmissions's Debt And Its 7.0% Return On Equity Adani Transmissions does use a significant amount of debt to increase returns.

Simply Wall St -

Adani Transmissions (NSE:ADANITRANS) Shareholders Have Enjoyed A Whopping 511% Share Price Gain

Take, for example, the Adani Transmissions Limited (NSE:ADANITRANS) share price, which skyrocketed 511% over three years. … During the three years of share price growth, Adani Transmissions actually saw its earnings per share (EPS) drop 12% per year. … In that case, the company may be sacrificing current earnings per share to drive growth, and maybe shareholder's faith in better days ahead will be rewarded.

Simply Wall St -

Is Adani Transmissions Limited (NSE:ADANITRANS) Potentially Undervalued?

A question to answer is whether Adani Transmissions's current trading price of ₹224.95 reflective of the actual value of the mid-cap? … Great news for investors – Adani Transmissions is still trading at a fairly cheap price. … This is because Adani Transmissions’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market.

Simply Wall St -

Is Adani Transmissions Limited (NSE:ADANITRANS) Investing Your Capital Efficiently?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Adani Transmissions: 0.062 = ₹18b ÷ (₹355b - ₹67b) (Based on the trailing twelve months to December 2018.) So, Adani Transmissions has an ROCE of 6.2%. … Do Adani Transmissions's Current Liabilities Skew Its ROCE? … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Does Adani Transmissions Limited (NSE:ADANITRANS) Have A Particularly Volatile Share Price?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Despite Its High P/E Ratio, Is Adani Transmissions Limited (NSE:ADANITRANS) Still Undervalued?

We'll look at Adani Transmissions Limited's (NSE:ADANITRANS) P/E ratio and reflect on what it tells us about the company's share price. … Looking at earnings over the last twelve months, Adani Transmissions has a P/E ratio of 22.54. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Should We Be Cautious About Adani Transmissions Limited's (NSE:ADANITRANS) ROE Of 7.8%?

Adani Transmissions has a ROE of 7.8%, based on the last twelve months. … That means that for every ₹1 worth of shareholders' equity, it generated ₹0.078 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Now The Time To Look At Buying Adani Transmissions Limited (NSE:ADANITRANS)?

Adani Transmissions Limited (NSE:ADANITRANS), which is in the electric utilities business, and is based in India,. … As a ₹235b market-cap stock, it seems odd Adani Transmissions is not more well-covered by analysts. … So, could the stock still be trading at a low price relative to its actual value

Simply Wall St -

Shareholders Should Look Hard At Adani Transmissions Limited’s (NSE:ADANITRANS) 8.3% Return On Capital

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … The formula for calculating the return on capital employed is:

Simply Wall St -

Company Info

Description

Adani Transmissions Limited operates as a transmission utility company in India. The company owns and operates approximately 11,000 circuit kilometers of transmission lines across Western, Northern, and Central regions of India with a total transformation capacity of 18,000 MVA. It is also involved in the engineering, procurement, and construction of various transmission projects. The company was incorporated in 2013 and is headquartered in Ahmedabad, India. Adani Transmissions Limited is a subsidiary of S.B Family Trust.

Details
Name: Adani Transmissions Limited
ADANITRANS
Exchange: NSEI
Founded: 2013
₹202,804,979,305
1,099,810,083
Website: http://www.adanitransmission.com
Address: Adani Transmissions Limited
Adani Corporate House,
Shantigram,
Ahmedabad,
Gujarat, 382421,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 539254 Equity Shares Mumbai Stock Exchange IN INR 31. Jul 2015
NSEI ADANITRANS Equity Shares National Stock Exchange of India IN INR 31. Jul 2015
Number of employees
Current staff
Staff numbers
0
Adani Transmissions employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 13:20
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/02/13
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.