Adani Ports and Special Economic Zone Ltd (“APSEZ”) revealed its quarterly and annual results, showcasing a significant surge in various metrics, underlining its strong position in the maritime and logistics industry.
In the fourth quarter of FY24, APSEZ demonstrated remarkable growth, with cargo volumes surging by 26%, reaching 108.7 MMT, and revenue escalating by 19% to Rs 6,897 Cr. The company’s EBITDA soared by 23% to Rs 4,029 Cr, and PAT witnessed a substantial increase of 77% to Rs 2,015 Cr compared to the same period last year.
For the fiscal year 2023-24, APSEZ continued its upward trajectory, with cargo volumes reaching 419.9 MMT, a 24% increase from the previous year, generating revenue of Rs 26,711 Cr, up by 28%. EBITDA surged by an impressive 44% to Rs 15,751 Cr, while PAT reached Rs 8,104 Cr, marking a 50% increase.
Operational Excellence
APSEZ’s operational achievements were commendable, with the company handling approximately 27% of the country’s total cargo and 44% of container cargo in FY24. Notably, Mundra Port, the flagship port, achieved a milestone by handling 7.4 Mn TEUs during the year, surpassing its nearest competitor by 15%.
Financial Milestones
Financially, APSEZ showcased robust performance, with revenue growing by 28% to Rs 26,711 Cr, supported by a substantial jump in ports and logistics business revenue. The company’s EBITDA witnessed a 24% increase year-on-year, reaching Rs 15,864 Cr. Despite the challenges, APSEZ recorded a record PAT of Rs 8,104 Cr.
Strategic Expansion
APSEZ expanded its footprint with the acquisition of Gopalpur and Karaikal ports, increasing the total count of ports in its India portfolio to 15. The company also ventured into strategic partnerships, such as forming a joint venture with MSC for Ennore Container Terminal.
Future Outlook
Looking ahead, APSEZ is poised for further growth, with guidance for FY2025 projecting cargo volumes to range between 460-480 MMT and revenue to be in the range of Rs 29,000-31,000 Cr. The company remains committed to sustainable growth, aiming for Net Zero emissions by 2040 and investing in renewable energy projects.
ESG Recognition
APSEZ’s commitment to environmental, social, and governance (ESG) practices has garnered recognition, with accolades from reputable agencies such as S&P, Sustainalytics, and Moody’s, reinforcing its position as a leader in responsible corporate citizenship.
With its stellar performance, strategic expansion plans, and focus on sustainability, APSEZ continues to set new benchmarks in the maritime and logistics industry, reaffirming its status as a key player in the global trade ecosystem.
Source: adani port
