Adani Ports Consolidated PAT for Q1FY16 Increases by 13% to Rs.641 Crores

Editor’s Synopsis

• Consolidated cargo for Q1FY16 increased by 17% to 40 MMT as against 34 MMT in Q1FY15.

• Consolidated Total Income including other income for Q1FY16 up by 32% at Rs.1,897 crores.

• Consolidated PAT for Q1FY16 increased by 13% to Rs.641 crores as against Rs.568 crores in Q1FY15.

• Adani Ports received the letter of award from the Government of Kerala for the development of the strategically located Vizhinjam port.

• APSEZ received “BBB-” international investment grade rating from all three international rating agencies. APSEZ is the only infra company, out of India, to have received this rating.

• APSEZ’s USD 650 Million bond issuance is first Investment Grade issuance and the largest offering by an infrastructure company in India.

• Mundra SEZ termed as “India’s most successful SEZ”: ABP News Channel.

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 quarter ended June 30, 2015.

Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16, an increase of 17%,over corresponding quarter last year.

In case of containers, the Mundra port handled 748,000 TEUs in Q1FY16 as against 681,000 TEU’s in corresponding quarter last year resulting in a 10 % growth as compared to growth of 3% aggregate growth in container volumes at all the major ports.

Our twin ports of Hazira and Dahej handled cargo of 5.42 MMT in Q1FY16 thereby showing a growth of 22%.

Consolidated total income including other income increased by 32% to Rs.1,897 crores in Q1FY16 as compared to Rs.1,433 crores in the corresponding quarter last year and consolidated EBIDTA increased by 31% to Rs.1,294 crores in the current quarter as compared to Rs.990 crores in corresponding quarter last year.

The consolidated PAT in current quarter increased by 13% to Rs.641 crores, as compared to Rs.568 crores in corresponding quarter last year.

Commenting on the results, Mr. Gautam Adani, Chairman, Adani Group said “The Company’s pan India presence continues to expand and we have received the letter of award from the Government of Kerala for the development of the strategically located Vizhinjam port. Our strong financial and operational results are a testimony of our continued focus on execution of our strategy”.

Elaborating on the performance, Mr. Sudipta Bhattacharya, Chief Executive Officer of APSEZ, said “Despite the increasingly large baseline of cargo volume, we have continued to demonstrate strong growth as a result of our ability to capture market share through broadening of our network of ports and logistics capabilities”.

The group recently announced the demerger of the group and moved away from its present ‘holding company’ structure and instead has four independently listed entities for the four major business segments. Adani Enterprises has demerged its ports, power and transmission businesses in Adani Ports and Special Economic Zone, Adani Power and Adani Transmission, respectively.

APSEZ received “BBB-” international investment grade rating (BBB- (anchor rating of BBB) from Standard & Poor, Baa3 from Moody and BBB- from Fitch). APSEZ is the only infra company, out of India, to have received this rating. APSEZ raised USD 650Million in bonds which is the first Investment Grade issuance and the largest offering by an infrastructure company in India.

Progress on Other Projects:

APSEZ received letter of award from the Government of Kerala for development and operation/maintenance of the Vizhinjam International Deepwater Multipurpose Seaport Project on PPP mode on DBFOT basis. This is a key strategic location to the world’s container traffic that moves, just 15 to 20 nautical miles from the port.

Ennore Container Terminal & Container Terminal -4 at Mundra projects are progressing well.

About The Adani Group

The Adani Group is one of India’s leading business houses with revenue of over $10 billion.

Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of the emerging economies.

The Group has also made significant inroads in the agri-infrastructure business by setting up grain storage silos and cold storage facilities, catering to storage of apples from Himachal Pradesh. We are a market leader in edible oil business with our Fortune brand of oil leading the pack.

We live in the same communities where we operate and take our responsibility towards the society very seriously. Through Adani Foundation, we ensure development and progress is sustainable and inclusive; not just for the people living in these areas, but the environment on the whole. At Adani, we believe in delivering benefits that transcend our immediate stakeholders.

Resources means obtaining Coal from mines and trading; in future it will also include oil and gas production.

Adani is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, we are the largest coal importers in India. We also have extensive interests in oil and gas exploration. Our extractive capacity has increased three folds to 5 MMT in 2015 and we aim to extract 200 MMT per annum by 2020, thereby making Adani one of the largest mining groups in the world.

Logistics denotes a large network of Ports, Special Economic Zone (SEZ) and Multi-Modal Logistics - Railways and Ships.

Adani owns and operates seven ports and terminals – Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Orissa, Mormugao in Goa and Visakhapatnam in Andhra Pradesh, India. Mundra Port, which is the largest port in India, benefits from deep draft, first-class infrastructure and SEZ status. It crossed the 144 MMT mark of cargo handling in FY15. Adani is also developing terminal at Ennore in Tamil Nadu, India.

Energy involves Power generation & transmission and Gas distribution.

Adani is the largest private thermal power producer in India with an installed capacity of 10,480 MW. Our four power projects are spread out across the states of Gujarat, Maharashtra, Karnataka and Rajasthan.

We also provide a range of reliable and environment friendly energy solutions, in the form of CNG and PNG. In fact, the above-mentioned installed capacity also includes a 40 MW solar plant at Bitta, Gujarat.