9M FY20
- Consolidated cargo volume crosses 165 MMT – Y o Y growth of 8%.
- Operating Revenue registers a growth of 14%
- Consolidated EBITDA* increases by 15%.
- Profit Before Tax up 13% .
- Profit After Tax up 27%, EPS stood at Rs.16.66
Q3 FY20
- Consolidated cargo volume at 56 MMT – Y o Y growth of 5%
- Operating Revenue registers a growth of 18%
- Consolidated EBITDA* increases by 24%.
- PBT at Rs.1,739 cr. and PAT at Rs.1,384 cr.
Ahmedabad, February 4th, 2020: Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer, operator and the logistics arm of Adani Group, today announced its operational and financial performance for the third quarter and nine months ended 31st December, 2019.
Financial Highlights:-
| Particulars (Rs.in cr.) | Q3 FY20 | Q3 FY19 | Growth | 9M FY20 | 9M FY19 | Growth |
|---|---|---|---|---|---|---|
| Operating Revenue | 3,336 | 2,824 | 18% | 8,952 | 7,843 | 14% |
| Consolidated EBITDA * | 2,287 | 1,843 | 24% | 5,921 | 5,135 | 15% |
| Consolidated EBITDA margin | 69% | 65% | 66% | 65% | ||
| Forex mark to market -Loss/(Gain) | 145 | (368) | 622 | 585 | ||
| PBT | 1,739 | 1,821 | (4%) | 3,987 | 3,543 | 13% |
| PAT | 1,384 | 1,410 | (2%) | 3,439 | 2,706 | 27% |
*Consolidated EBITDA excluding forex mark to market loss/(Gain).
Operating Revenue: -
Total Operating Revenue on a year on year basis grew by 14 % from Rs.7,843 cr. in 9M FY19 to Rs.8,952 cr. in 9M FY20. This is primarily on account of Port revenue increasing by 11% and revenue from logistic operations increasing by 56%.
Consolidated EBITDA*: -
Increased cargo volume and ability to maintain realization enabled core EBITDA to grow by 15% from Rs.5,135 cr. in 9MFY19 to Rs.5,921 cr. in 9M FY20. EBITDA margins for 9M FY 20 expanded by 100 bps to 66%.
Consolidated PBT and PAT: -
Profit before Tax increased by 13% from Rs.3,543 cr. in 9M FY19 to Rs.3,987 cr. in 9M FY20. Similarly, Profit after Tax increased by 27% from Rs.2,706 cr. in 9M FY19 to Rs.3,439 cr. in 9M FY20.
EPS increased from Rs.13.06 in 9M FY19 to Rs.16.66 in 9M FY20.
Operational Highlights 9M FY20: - (on YoY Basis)
Ports across all the three regions registered strong growth. Dhamra the eastern port of APSEZ registered a growth of 44%, Kattupalli the southern port registered a growth of 23%. Western ports of Hazira registered a growth of 9% and Mundra grew by 3%.
In Q3 FY20, seven new container services were added, five at Mundra and one each at Ennore, Hazira. The incremental container volume on account of these additional services will be approximately 4,00,000 TEUs annually.
Operations at Mundra LNG terminal of 5 MMT capacity commenced from January 2020.
Krishnapatnam acquisition is on track and expected to be completed in Q1 FY21. The equity portion of Rs.5,520 cr. will be funded through internal accruals and existing cash balances.
Awards
• Mundra Port received “The Samudra Manthan Awards for “Best Private Port of the Year 2019”
• Mundra Port won “Best Port of the Year for Containerized Cargo” at the Gujarat Star Awards 2019.
Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said “KPCL is a crown jewel to join APSEZ's string of 10 networked ports. This acquisition would accelerate our stride towards FY25 vision of handling 400 MMT of cargo. Given the best-in-class infrastructure and the distinct hinterland catered by KPCL, this acquisition will add remarkable value to our pan-India footprint.
APSEZ with its pan India presence has been continuously outperforming Indian cargo volume growth. Our focus on diversifying cargo mix continues. Gas (LNG, LPG) being the newest commodity added this quarter to the cargo basket. In FY20, we expect to achieve cargo volume of 224-226 MMT, Revenue growth of around 13% and EBIDTA growth of around 14%.
We continue to focus on Environment Social and Governance. Efficient use of water and energy from cleaner sources, reduction of emission levels and zero tolerance for fatalities at our ports continue to be our top priorities.”