Adani Ports and Special Economic Zone, the largest ports operator, on Thursday reported a consolidated net profit of 2,040 crore for the quarter ended March 2024, registering a growth of 76.2% from 1,158 crore in the year-ago period.

The Adani Group company’s revenue from operations in Q4FY24 rose 19% to 6,896.5 crore from 5,796.85 crore, YoY.

At the operational level, Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the quarter increased 24% to 4,045 crore from 3,273 crore, while EBITDA margin improved to 58.6% from 56.4%, YoY.

“APSEZ outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and EBITDA by 6%-8%, while closing the year with net debt to EBITDA ratio of 2.3x vs its guidance of 2.5x,” said Ashwani Gupta, Whole-Time Director & CEO, Adani Ports & SEZ

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With incremental cargo volumes of 100 MMT achieved in less than two years, APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year, Gupta added.

In FY24, Adani Ports recorded revenue growth of 28% YoY to 26,711 crore, supported by 30% jump in ports business revenue and 19% in logistics business. It reported net profit of 8,104 crore, up 50% YoY.

Adani Ports’ domestic cargo volumes grew by 21% YoY versus 7.5% growth in India’s cargo volumes in FY24.

EBITDA (excl. forex) in FY24 jumped 24% YoY to 15,864 crore, with 15,246 crore contributed by ports business and 540 crore by logistics business. Domestic port EBITDA margin expanded by ~150 bps with better sweating of assets (capacity utilization of 67% in FY24 vs 56% in FY23). 

Adani Ports Guidance for FY2025: 

  • Cargo volumes during the period to be 460-480 MMT 
  • Revenue for the period to be 29,000-31,000 crore
  • EBIDTA for the period to be 17,000-18,000 crore
  • Net Debt to EBITDA to be 2.2-2.5x 
  • Capex for the period to be in the range of 10,500-11,500 crore

Also Read: Adani Total Gas Q4 Results Live : profit rise by 71.55% YoY

Adani Ports Dividend

The board of directors of Adani Ports declared a dividend of 6 per equity share of 2 face value for the financial year 2023-24.

The company has fixed Friday, 14th June, 2024 as ‘Record Date’ for the purpose of determining entitlement of the members of the Company to receive dividend. The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 30th June 2024, it said.

At 1:50 pm, Adani Ports shares were trading 0.76% higher at 1,334.95 apiece on the BSE.

Read all Q4 results here

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Published: 02 May 2024, 01:33 PM IST