In This Article:
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Cargo Volume: Increased by 9% year-on-year to 220 million metric tons.
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Q2 FY25 Revenue Growth: Increased by 6%.
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Q2 FY25 EBITDA Growth: Increased by 13%.
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Q2 FY25 Profit After Tax (PAC) Growth: Increased by 37%.
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H1 FY25 Revenue Growth: Increased by 13%.
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H1 FY25 EBITDA Growth: Increased by 21%.
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H1 FY25 Profit After Tax (PAC) Growth: Increased by 42%.
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Net Debt to EBITDA Ratio: Stood at 2X.
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Credit Rating: Crisil and India Ratings assigned AAA rating to bank facilities and NCDs.
Release Date: October 29, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Adani Ports & Special Economic Zone Ltd (BOM:532921) reported a 9% year-on-year increase in cargo volume to 220 million metric tons, showcasing strong operational performance.
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The company achieved significant financial growth with revenue, EBITDA, and PAC increasing by 6%, 13%, and 37% respectively in Q2 FY25.
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Adani Ports & Special Economic Zone Ltd (BOM:532921) received AAA ratings from four domestic rating agencies, highlighting its strong creditworthiness.
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The acquisition of Gopalpur Port and the planned commissioning of Vijinjam Port are expected to enhance the company's operational capacity and market presence.
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The logistics segment showed robust growth, with rail volumes increasing by 11% year-on-year, indicating successful strategic shifts from road to rail transport.
Negative Points
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The company faced disruptions in Gangavaram and Mundra due to inclement weather, impacting cargo volumes in these regions.
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Realizations for certain ports like Hazira and Dahej were reported to be down on a year-on-year basis, indicating potential pricing or volume challenges.
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The RINL steel plant, a significant contributor to Gangavaram's volumes, is facing a working capital crisis, affecting cargo throughput.
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Despite growth in logistics, margins in this segment have been lower compared to the previous year, suggesting cost pressures or competitive pricing.
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The SEZ and port development business reported lower revenues, raising questions about the consistency of income from lease rentals and development activities.
Q & A Highlights
Q: Can you provide updates on recent developments in Sri Lanka and other acquisitions? A: We finalized the acquisition of Gopalpur and are seeing positive cargo volumes. Vijinjam is performing better than expected, and we are moving into the final phase of development. In Sri Lanka, operations are on track to start next year, and we have completed the acquisition of Astro Offshore. Haifa is operating 24/7 with increased car cargo, and Tanzania is ramping up well.