Adani Ports Q4 reports 5% increase in net profit around Rs 1,159 Cr

AHMEDABAD : Adani Ports and Special Economic Zone Ltd has reported 5% increase in net profit at Rs 1,159 crore for the quarter ending March 31, 2023. It reported net profit of Rs 1,103 crore in the year-ago period.

The company’s revenue from operationsrose40%toRs5,797crore in Q4FY23 as against Rs 4,141 crore in Q4FY22. Adani Ports’ scrip on BSE closed 0.4% lower at Rs 734.3. For FY23, the APSEZ Board has recommended a dividend of Rs 5 per share, which implies a payout of around Rs 1,080 crore for thecompany.

“FY23 has been a stellar year for

APSEZ in operational as well as financial performance. The company has overachieved against its highestever revenue and EBITDA guidance provided at the beginning of the year. Our strategy of geographical diversification, cargo mix diversification, and business model transition to a transport utility is enabling robust growth,” said Karan Adani, CEO and whole-time DirectorofAPSEZ.

“Over the last 5 years, APSEZ’s revenue and EBITDA have grown at a CAGR of 16-18%, while the company’s domestic market share jumped 800bps to 24% in FY23. APSEZ did record investments of aroundRs27,000croreinFY23,which includes six major acquisitions totaling around Rs 18,000 crore and organic capex of around Rs 9,000 crore. These investments were primarily financed through internal accruals and the cash and cash equivalents held with the company. As a result, gross debt to fixed asset ratiohasdeclinedsharplyfrom80%in FY19 to around 60% in FY23. Theinvestmentsmadealongwiththe five bid wins during the year, will enable APSEZ to achieve its targeted cargovolumesof500MMTin2025and speed up the transition of the business model to a transport utility,” addedKaranAdani.