Adani Ports Cargo Volume Jumps 26% In Q4 Leading To Record Revenue, EBITDA

Adani Ports and Special Economic Zone Ltd (APSEZ) did a record cargo volume of 312 MMT with Mundra port alone handling 150 MMT.

(Representative Image/ Getty)

New Delhi: Gautam Adani-led transport utility major Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday announced its results for the fourth quarter and year ended March 31, stating that the company has recorded a cargo volume of 312 MMT with Mundra port alone handling 150 MMT, a feat never achieved by any other commercial port in the country.

"FY22 has been a stellar year for APSEZ, with achievement of various milestones for itself and new benchmarks for India's maritime industry," said Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ. 

"The year saw a record number of acquisitions and some large project wins by APSEZ, further reinforced our progress towards the ambition of becoming the largest port globally by 2030," Adani said.

Furthermore, the company also purchased balance 25 per cent stake in Karnataka Power Corporation Limited (KPCL) and acquired Sarguja Rail Company for its 70 kms railway line asset having an annuity like business model.

APSEZ also purchased 41.9 per cent stake in the Gangavaram port and signed an agreement with the promoters for acquisition of balance 58.1 per cent stake after getting approval from the National Company Law Tribunal (NCTL).

Other developments including acquisition of India's leading third-party marine services provider, Ocean Sparkle Ltd (OSL), LOA from Haldia Port Trust for a 5 MMTPA bulk terminal, highest bidder for the West Bengal government's greenfield deep-sea port project at Tajpur.

"The acquisitions in FY22 implied an investment of around Rs 11,400 crore for APSEZ and was successfully managed alongside an organic Capex of around Rs 3,750 crore, while ensuring that the net debt to EBITDA ratio remained unchanged at 3.4x," the company said in an official statement. 

"We cruised on our journey of becoming India's largest transport utility with achievement of various milestones by our logistics business. These include investment in around 100 trains, eight operational MMLPs and total grain silo capacity of around 1.2 MMT, all by FY23. With 5 mn sqft of warehousing capacity under construction/ operation, we are on track to achieve our guided capacity of 60 mn sqft," Adani added.

Additionally, APSEZ also concluded two very strategic partnerships ensuring sustainable business growth - i. a joint venture with John Keells Holdings & Sri Lanka Port Authority for construction of Colombo West International Terminal-II ; ii. a partnership with Flipkart for the construction of a 5,34,000 sq. ft. fulfilment center in the upcoming logistics hub at Mumbai.