- APSEZ continues to outperform all India cargo volume. During 9M of FY22, it handled 212 MMT of cargo compared to 174 MMT in 9M FY21 thus registering a growth of 22% compared to 7% growth registered by all India cargo volume. As a result, market share of APSEZ in all India cargo volume has increased by 350 bps to 28.1%
- Gangavaram Port (GPL) handled cargo volume of 22.35 MMT which is not consolidated in the above cargo numbers as the process of acquisition is underway and we expect the same to be completed by Q4 FY22 (Post NCLT approval) which will enable us to consolidate Gangavaram Port in our books retrospectively from 1 April 2021.
NE BUSINESS BUREAU
AHMEDABAD, FEB 1
Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a 6.20 per cent decline in consolidated profit at Rs 1,478.76 crore for the third quarter ended December 2021.
The country’s largest integrated logistics player had clocked a consolidated profit of Rs 1,576.53 crore in the corresponding period a year earlier, according to a regulatory filing.
Its total consolidated income increased to Rs 4,422.73 crore in the latest December quarter from Rs 4,274.79 crore in the year-ago period. Consolidated revenue from operations was nearly flat at Rs 3,797 crore as against Rs 3,746 crore a year ago.
The company’s total expenses during the quarter under review rose to Rs 2,738.86 crore compared to Rs 2,258.62 crore in the same period a year ago.
| Particulars | Q3
FY22 |
Q3
FY21 |
Growth | 9M
FY22 |
9M
FY21 |
Growth |
| Cargo (MMT) | 68 | 76 | -11% | 212 | 174 | 22% |
| Consolidated Revenue | 3,797 | 3,746 | 1% | 12,089 | 8,942 | 35% |
| Consolidated EBITDA* | 2,431 | 2,488 | -2% | 7,428 | 5,776 | 29% |
| Port Revenue | 3,156 | 3,279 | -4% | 9,706 | 7,615 | 27% |
| Port EBIDTA | 2,246 | 2,351 | -4% | 6,876 | 5,394 | 27% |
| Port EBIDTA Margin | 71% | 72% | 71% | 71% | ||
| Forex mark to market – Loss/(Gain) | 13 | (206) | 348 | (691) | ||
| PBT before Exceptional Item | 1,739 | 2,013 | -14% | 4,776 | 4,753 | 0.5% |
| PAT | 1,479 | 1,577 | -6% | 3,762 | 3,728 | 1% |
In Q3 FY22, cargo volume was subdued on account of lower import of coal by key IPPs like Adani Power Mundra, GGPL and lower trading coal volume which was impacted due to higher commodity prices and disruptions in the supply chain. Coal volume in Q4 FY22 is likely to improve due to increasing power demand and softening of prices Globally.
“APSEZ had shown tremendous resilience all through the pandemic period,” said Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ. “Our learnings in 2020 helped us weather the storm and our operational expertise allowed us to continue our expansion. The addition of two ports in 2021 – Krishnapatnam and Gangavaram in Andhra Pradesh on the east coast of India – to the ones on the west coast continued to tighten our pan-India presence. Our under-construction port of Vizhinjam in Kerala, along with our new terminal in Colombo, Sri Lanka, will act as a new transshipment hub in southeast Asia.”
“Our carbon offsetting, mangrove afforestation and terrestrial plantation, as well as our extensive focus on the use of renewable energies, have meant that APSEZ is well on the road to achieving carbon neutrality by 2025 and becoming the world’s most sustainable ports company,” added Karan Adani.
The Adani Group’s progress in firming up its Transport Utility model is a recognition that transport infrastructure performs as essential a function as electricity. This transport utility model was further augmented by the expansion in the rail network and Grade-A warehousing capacity, as well as by further investments in logistics capabilities. The Adani Group will continue to invest in new technologies, automation and digitization, to provide further impetus for growth.
