APSEZ Ports Cargo Handled Up 28%

 

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the fourth quarter and year ended March 31, 2015.

Consolidated cargo across all ports handled by the company was 144 MMT in FY15, an increase of 28%, over corresponding period last year. Adani ports at Mundra handled 111 MMT cargo in FY15 thereby continuing its leadership as the largest commercial port business in India. The Mundra port registered a 10% growth in FY15 compared to 5% aggregate cargo growth at all major ports.

Also, in case of containers, the Mundra port handled 2.72 Million TEUs in FY15 as against 2.39 Million TEU’s in corresponding to same period last year resulting in a 14 % growth as compared to growth of 7% aggregate growth in container volumes at all the major ports. 

Consolidated cargo handled by the company was 36 MMT in Q4FY15, an increase of 26%, over corresponding quarter last year. Adani ports at Mundra handled 27 MMT cargo in Q4FY15 thereby continuing its leadership as the single largest commercial port in India.

Consolidated total income increased by 24% to Rs.6,838 crores in FY15 as compared to Rs.5,514 crores in the corresponding period last year and consolidated EBIDTA increased by 27% to Rs. 4,588 crores in the current year as compared to Rs. 3,604 crores in corresponding period last year.

The consolidated PAT for the current year increased by 33% to Rs 2,314 crores, as compared to Rs 1,740 crores in corresponding period last year.

Consolidated total income increased by 42% to Rs.1,832 crores in Q4FY15 as compared to Rs.1,291 crores in the corresponding quarter last year and consolidated EBIDTA increased by 49% to Rs. 1,247 crores in the current quarter as compared to Rs.836 crores in corresponding quarter last year.

The consolidated PAT in current quarter increased by 25% to Rs 661 crores, as compared to Rs 530 crores in corresponding quarter last year.

The above results include the result of The Dhamra Port Company Limited, which APSEZ acquired on June 23, 2014.

Commenting on the results, Mr. Gautam Adani, Chairman, Adani Group said, “This year the Adani Group celebrated its Silver Jubilee and it has been a very eventful year. We have created additional future pathways for growth for our APSEZ business and as the opportunities in Indian port sector rapidly multiply in the days to come we believe we are well positioned to capture the growth and capitalize on our model of integrated business”.

Elaborating on the performance, Mr. Sudipta Bhattacharya, Chief Executive Officer of APSEZ, said “The Company has had another record year. We accelerated our growth and grew our cargo volumes by 28% and net profit by 33%. This year we also completed the Dhamra Port acquisition, commercialized the Tuna Port in record time and signed a 50:50 JV with CMA Terminals to build a brand new container terminal at Mundra”.

The Board of Directors have recommended a dividend of 55% i.e Rs.1.10 per equity share for FY 2014-15.

Adani Ports awarded as “Port of the Year-Containerised Cargo” at Gujarat Junction 2015.

Ennore Container Terminal project is progressing well.