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Adani Ports Q4 PAT soars 285% YoY to Rs 1288 cr

·3-min read

Consolidated profit before tax soared by 500% to Rs 1539 crore in Q4 FY21 from Rs 256.73 crore in Q4 FY20. The company's operating revenue grew by 24% year on year to Rs 3,608 crore in Q4 FY21. Consolidated EBITDA (excluding forex gain of Rs.24 cr. in Q4 FY21 vs. forex loss of Rs.1,004 cr. in Q4 FY20) jumped 39% year on year to Rs 2287 crore in Q4 FY21.

Port revenue has increased by 30% to Rs 3123 crore in Q4 FY21 while revenue from logistics business declined by 7% to Rs 268 crore in Q4 FY21 over Q4 FY20.

The company's cargo volume surged 27% year on year to 73 MMT in Q4 FY21 as against 58 MMT in Q4 FY20.

The company's consolidated net profit jumped 32.7% to Rs 4,994 crore in year ended March 2021 (FY21) from Rs 3,763 crore in year ended March 2020 (FY20). Total income rose by nearly 6% to Rs 14,519.83 crore in FY21 over FY20.

Karan Adani, chief executive officer and whole time director of APSEZ said, “FY21 has been a transformational year for APSEZ. Some of the key decisions we took this year have set the foundation for the coming decade. Our customer centric approach has yielded good result for us as our market share increased by 4% on a pan India basis. Mundra port which is the largest commercial port in the country, this year has also become the largest container port in the country surpassing JNPT by a big leap. We have also been able to restructure our cost fundamentally and were able to demonstrate an increase in EBIDTA margin by 1% taking our port margins to 70%. On the growth side we used this time to complete four large acquisitions i.e Krishnapattanam port, Gangavaram port, Dighi port and Sarguja Rail line, taking our total portfolio to 13 ports in the country. The total value of said investment was Rs 26,000 crore.

He further said, “FY21 has also seen shift towards e-commerce and hence a fundamental shift towards demand increasing for large format Grade A warehouses. Adani Logistics have forayed into this sector and has the vision to be the largest player in this sector in the coming 5 years. We have set our sight to build 30 million Sq.ft. of warehousing capacity in the next 5 years. In FY22, our internal estimates for cargo volume to be in the range of 310-320 MMT, this includes 10 MMT of Gangavaram port in Q4 FY22. Consolidated revenue to be in the range of Rs 16,000 crore to Rs 16,800 crore. Consolidate EBIDTA to be in the range of Rs 10,200 crore to Rs 10.700 crore and free cash flow to be in the range of Rs 5,500 crore to Rs 6,000 crore With all this APSEZ is well on its course to become a truly integrated transport and logistics utility and achieve 500 MMT of cargo throughput and ROCE to be in excess of 20% by FY25.”

Meanwhile, the company announced that its chief financial officer Deepak Maheshwari has resigned with effect from 5 May 2021 due to personal reasons.

Adani Port, a part of globally diversified Adani Group, is the largest port developer and operator in India.

Shares of APSEZ closed 0.99% higher at Rs 768.80 on BSE.

Source: Capitalmarket.com