Connect with:
Saturday / April 19. 2025

logo
mobile-logo
HomePosts Tagged "Adani Ports & Special Economic Zone Ltd"
Company News, Finance, India, Supply Chain, Transportation

Company’s revenue increased by 21 per cent to Rs 7,560 crore and cargo handled was up 8 per cent at 109 million tonnes.

Adani Ports and Special Economic Zone Ltd (“APSEZ”) announced its results for the quarter ending 30 June, 2024. “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 per cent increase”, company mentioned in the statement.

“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” said Ashwani Gupta, Whole-time Director & CEO, APSEZ.

Operational highlights

During the quarter, APSEZ clocked 109MMT of cargo volume (up 8 per cent YoY). The growth was primarily driven by Containers (up 18 per cent YoY) and Liquids & Gas (up 11 per cent 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 per cent YoY) and GPWIS volume (5.56 MMT, up 28 per cent YoY). Container volume handled at MMLPs increased by 27 per cent YoY to 103,784 TEUs.

Financial highlights:

Revenue grew by 21 per cent YoY to Rs 7,560 Cr in Q1 FY25.

EBITDA (excluding forex) jumped 29 per cent to Rs. 4,848 Cr. Domestic Ports contributed Rs. 3,990 Cr. to EBITDA and Logistics contribution was at Rs. 144 Cr. Domestic ports EBITDA expanded by 32 bps to 72 per cent due to better asset sweating.

Business highlights:

Signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port, Tanzania. CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and managed 0.82 million TEUs of containers in 2023.

Received a LOI for development, operation and maintenance of Berth No. 13 at Deendayal Port. The Company has been awarded this LOI for a 30-year concession period through a competitive bidding process.

Received LOI for five-year O&M of container facility at Netaji Subhas Dock at Syama Prasad Mookerjee Port, Kolkata. Netaji Subhas Dock is the largest container terminal on the eastern coast of India and handled 0.63 million TEUs in FY2023-24. APSEZ’s presence at the port will drive synergies with upcoming transshipment hubs at Vizhinjam and Colombo.

First mothership arrived at the Vizhinjam Port; India’s first transshipment port equipped with South Asia’s most advanced container handling technology.

Warehousing capacity increased to 2.9 million sq. ft. with the addition of warehouse at Palwal (2.4 million sq. ft as of FY24 end).

Agrisilo capacity was at 1.2 MMT and is expected to increase to 4 MMT on completion of the projects underway. Marine services business deployed a tug each in Mexico and Sri Lanka.

Company’s revenue increased by 21 per cent

Company News, India, Logistics, Supply Chain

With acquisition of Karaikal port APSEZ now operates 14 ports in India.

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, has completed the acquisition of Karaikal Port Private Limited (KPPL) pursuant to NCLT approval. Earlier, APSEZ was declared as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL.

Karaikal Port is an all-weather deep-water port on India’s eastern coast that was developed on the Build, Operate and Transfer format under the Public-Private Partnership by the Government of Puducherry. The Karaikal Port was commissioned in 2009, and was developed in the Karaikal District of the Union Territory of Puducherry, around 300 KMS south of Chennai. It is the only major port between Chennai & Tuticorin, and its strategic location allows the port easy access to industrial-rich hinterland of Central Tamil Nadu.

The port gets a 14-meter water draft and has land area of over 600 acres. Its existing infrastructure includes 5 operational berths, 3 railway sidings, mechanized bulk cargo handling system including mechanized wagon-loading and truck-loading systems, 2 mobile harbour cranes and a large cargo storage space that includes open yards, 10 covered warehouses and 4 liquid storage tanks. With a built-in cargo handling capacity of 21.5 MMT, the port primarily handles, Cement, Fertilizer, Limestone, Steel & Liquids. The upcoming CPCL’s 9 MMTPA new refinery at Nagapattinam in Tamil Nadu presents an opportunity for Karaikal Port to handle an additional large volume of liquid cargo.

Commenting on the occasion, Karan Adani, CEO and Whole-time Director, APSEZ said, “The acquisition of Karaikal Port is another milestone in consolidating our position as India’s largest transport utility. With acquisition of Karaikal port APSEZ now operates 14 ports in India.

APSEZ will spend further Rs 850 crores over time to upgrade infrastructure in order to reduce the logistics cost for the customers. We are envisaging to double the capacity of the port in the next 5 years and also add container terminal to make it a multipurpose port.”

In FY 2023, Karaikal Port handled 10 MMT of cargo and acquisition consideration of Rs 1,485 crores implies an EV/EBITDA multiple of 8x on FY23 EBITDA number.

With acquisition of Karaikal port APSEZ now