Adani Ports’ total operating income crosses $1 billion

By Finance

- Consolidated cargo stood at 152 MMT
- Consolidated cargo for FY16 increased by 5% to 152 MMT as against 144 MMT in FY15.
- Consolidated Total Income for FY16 up by 16% at Rs 7941 crore
- Consolidated PAT for FY16 increased by 24% to Rs 2,867 crore vs Rs 2,314 crore in FY15
- Consolidated cargo for Q4FY16 increased stood at 37 MMT
- Consolidated Total Income for Q4FY16 up by 18% at Rs 2,162 crore
- Consolidated PAT for Q4FY16 increased by 38% to Rs 914 crore vs Rs 661 crore in Q4FY15
- Guidance for FY17: cargo volumes growth at 10% to 15% and similar rise in profit after tax.

Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, announced on Tuesday (May 03) the financial results for the fourth quarter and year ended March 31, 2016.

Consolidated cargo across all ports handled by the company was 152 MMT in FY16, an increase of 5 percent, over corresponding period last year, including 3.35 million TEUs, up 17 percent from 2.87 million TEUs last year. Consolidated cargo for Q4FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India.

Adani Ports’ total operating income crosses $1 billion

Image: Adani Ports

Consolidated total income increased by 16 percent to Rs. 7,941 crore in FY16 as compared to Rs. 6,838 crore in the corresponding period last year and consolidated EBIDTA increased by 19 percent to Rs. 4,651 crore in the current year as compared to Rs. 3,902 crore in corresponding period last year.

The consolidated PAT for the current year increased by 24 percent to Rs. 2,867 crore as compared to Rs. 2,314 crore in corresponding period last year.

“Our strategy continues to bear fruit, with total operating income for the first time exceeding the US$ 1 billion mark. With an expanded footprint at 10 locations along the Indian coastline, we aim to continue to drive growth within our ports business, as well as look to the further development of industrial clusters and full-service logistics, with the ultimate goal of building a fully integrated logistics player of significant scale,” said Mr. Gautam Adani, Chairman, Adani Group.

“I am extremely proud of our progress over this past year. We’ve delivered, yet again, an outstanding financial performance and operationally we’ve increased both total cargo throughput and container handling. We will continue to look at improving our financial margins and operational efficiency, through a combination of enhanced use of technology, optimizing our cargo mix and reducing our net finance cost. Our guidance for the next year, cargo volumes likely to see 10 % to 15 % growth and corresponding 10 % to 15 % growth in profit after tax. With our expansion in capacity, we are well-positioned to capitalize on the growth in domestic Imports, Exports and the increased need for logistics infrastructure in India,” said Mr. Karan Adani, CEO, APSEZ.

Consolidated total income increased by 18 percent to Rs.2,162 crore in Q4FY16 as compared to Rs. 1,832 crore in the corresponding quarter last year and consolidated EBIDTA, excluding other income, rose by 12 percent to Rs 1,225 crore in the current quarter as compared to Rs. 1,096 crore in corresponding quarter last year.

The consolidated PAT in current quarter increased by 38 percent to Rs. 9,14 crore, as compared to Rs. 6,61 crore in corresponding quarter last year.

Key Developments and future outlook:

  • After taking over the operations at Kattupalli, Adani has increased the volume from a mere 7,900 TEUs per month (Nov,15)to over 11,500 TEUs per month (Mar, 16) in just 4 months - a significant achievement.
  • The ports at Tuna Tekra, Hazira Ports, Goa on the west coast as well as Vizag and Dhamra in the east coast continued to do well.
  • Sagarmala Initiative of Govt of India will focus on seamless movement of cargo across long coast lines. Pan India existing capacities of Adani port will be better utilized due to this Initiative.
  • Operationalization and gradual ramp up of CT4 - (A JV with CMA – CGM) should bring in more container volumes at Mundra.
  • Adani is moving towards a fully integrated logistic solution provider with one logistics arm: Adani Logistics Ltd, catering to more ports.
  • APSEZ was awarded FIRST Prize in the Confederation of Indian Industry (CII) (WR) Health, Safety and Environment Excellence Award 2015-16 in Service Category.

Source: Adani