Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of the Adani Group, last week announced its operational and financial performance for the first quarter ended June 30, 2019. As per the communiqué, all the key parameters showed an increase. Some of the highlights were:
Consolidated Revenue: Increased by 16 per cent from Rs 2,411 crore in Q1FY19 to Rs 2,794 crore in Q1FY20 on the back of strong ports volume growth and logistics operations.
Consolidated EBITDA: Increased by 16 per cent from Rs 1,588 crore in Q1FY19 to Rs1,843 crore in Q1FY20 on the back of continued strong cargo volume growth.
Consolidated EBITDA Margin: Maintained at 66 per cent.
PBT: Profit before tax increased by 48 per cent from Rs 922 crore in Q1FY19 to Rs1,362 crore in Q1FY20.
PAT: Profit after tax increased by 46 per cent from Rs 691 crore in Q1FY19 to Rs 1,011 crore in Q1FY20.
Operational performance and other important developments—Volume growth on YoY basis:
* In Q1FY20, APSEZ once again demonstrated its superior quality of delivery by handling record cargo throughput of 57 MMT in a quarter, thus registering 18 per cent cargo volume growth.
* For the first time, APSEZ handled record container volume of over 1.5 million TEUs in a quarter.
* Ports across regions registered growth. While Mundra, the flagship port of APSEZ, grew by 16 per cent, Hazira grew by 20 per cent, Kattupalli by 16 per cent and Dhamra by 43 per cent. Terminals at major ports, namely, Tuna, Vizag, Goa and Ennore registered 35 per cent cargo volume growth.
* Dhamra port is back on the growth track with a 43 per cent increase in cargo volume. Currently, the port operates four bulk rakes under General Purpose Wagon Investment Scheme (GPWIS).
Mr Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ, said, “Cargo throughput at our ports continues to be robust. Our strategy to have multi-commodity ports with geographical diversity connected to major economic hinterland, ability to handle various types of cargo and forming joint ventures with ship liners has helped us to get more cargo at our ports. Our focus would continue to be on optimum utilisation of facilities, provide customer-centric solutions and ensure that we continue to outperform the growth registered by all India ports. We will continue to adopt best practices in environment, social and governance processes.”
Mr Deepak Maheshwari, Chief Financial Officer, said, “Continued strength in our core operations has resulted in 16 per cent increase in both our consolidated operating revenue and EBITDA, maintaining our EBITDA margins. We are focused on allocating capital efficiently and improving the return on capital employed.”