Marine Ports & Services company Adani Ports & Special Economic Zone announced Q1FY25 results:
Financial Highlights:
- Volume grew 8% YoY to 109 MT
- Highest ever quarterly revenue at Rs 7,560 crore (21% YoY growth)
- Highest ever EBITDA and PAT at Rs 4,848 crore (up 29% YoY) and Rs 3,107 crore (up 47% YoY) respectively
- Net Debt to TTM EBITDA at 2.1x vs 2.3x in FY24
- Domestic Ports contributed Rs 3,990 crore to EBITDA and Logistics contribution was at Rs 144 crore
- Domestic ports EBITDA expanded by 32 bps to 72% due to better asset sweating.
- Ratings upgrade from two domestic rating agencies & outlook upgrade from international rating agency
- Signed two new port concession agreements and won one new port O&M contract
- Arrival of first mothership at the Vizhinjam transshipment port, equipped with South Asia’s most advanced container handling technology
Operational Highlights:
- During the quarter, APSEZ clocked 109MMT of cargo volume (up 8% YoY). The growth was primarily driven by Containers (up 18% YoY) and Liquids & Gas (up 11% YoY). We had a temporary disruption leading to a loss of 5.7 MMT at the Gangavaram Port, which is now fully restored.
- Mundra port handled the highest every quarterly volume by any Indian port (51 MMT).
- Mundra, Kattupalli, Hazira, and Krishnapatnam featured in World Bank’s Container Port Performance Index 2023. The index benchmarks ports globally across multiple parameters including productivity, efficiency and reliability.
- Highest ever quarterly rail cargo (0.16Mn TEUs, up 19% YoY) and GPWIS volume (5.56 MMT, up 28% YoY).
- Container volume handled at MMLPs increased by 27% YoY to 103,784 TEUs.
Ashwani Gupta, Whole-time Director & CEO, APSEZ, said: “FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. On the financial front, we posted all-time high earnings. But for the temporary disruption in Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been at 114.7 MMT, a 13% increase.
On the growth front, we won two new port concessions and a port O&M contract. We are proud that four of our ports featured in World Bank’s Container Port Performance Index 2023”