Mundra: Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator and subsidiary of Adani Enterprises Ltd reported its financial performance for the quarter and nine months ended December 31, 2011.
BUSINESS HIGHLIGHTS
• The name of the Company has been changed from ‘Mundra Port and Special Economic Zone Limited’ to ‘Adani Ports and Special Economic Zone Limited’ effective January 6, 2012.
• The port position is now the 4th largest commercial port in India.
• Awarded “Private Port of the Year” at the Port and Shipping 2012.
• Rail Terminal at Agripark and West Basin became operational.
• Handled largest fertilizer volume of 1.87 MMT in a quarter.
• Handled the First double stacked train from Patli in record time (270 TEUs in just 75 minutes).
• Handled 1,11,699 MT of coal in 24 hours on December 4, 2011 beating our own record of 95,000 MT coal handled on June 17, 2011.
Commenting on the performance, Gautam Adani, Chairman, Adani Ports and SEZ Ltd, said “Adani Ports has shown yet another impressive quarter. Backed by continuous growth in volume and demand-supply mismatch in India’s port capacity, we see huge opportunity in the period coming ahead.”
To elaborate the quarterly and nine months performance total income for the current quarter was at Rs.693 crore - up by 53% from Rs.453 crore in the corresponding quarter last year. Similarly total income for the current nine months was at Rs.1,850 crore - up by 43% from Rs.1,296 crore in the corresponding period last year.
The EBIDTA jumped to Rs.484 crore for the quarter ended December 31, 2011 - growth of 56% from Rs.311 crore for the corresponding quarter ended December 31, 2010. Similarly EBIDTA for the nine months ended December 31, 2011 jumped to Rs.1,265 crore- growth of 43% from Rs.884 crore over corresponding period last year.
The net profit was at Rs.311 crore for the quarter ended December 31, 2011 - growth of 36% from Rs.228 crore in the corresponding quarter ended December 31, 2010. Similarly the net profit for the nine months ended December 31, 2011 was Rs.838 crore - growth of 29% from Rs. 651 crore in the corresponding period last year.
The cargo handled at Adani Ports was 48.48 MMT in 9 months 2011-12. As expected, APSEZ continued to outperform other Indian ports. While all the major ports grew 3%, Adani Ports registered a 29% jump in cargo and 20% in container business.
The company has also further increased its market share to over 10.4%, up by 2.1%. With the overall growth in line with its plan, the growth at Mundra seems set to have a quantum jump this fiscal.
The expansions at Mundra as well as at Hazira, Goa and Vizag are progressing as per the plans. The operations at Abbott Point Terminal and Dahej are doing well.
Adani Ports has emerged as the highest bidder for handling port project in Kandla Port for setting up bulk handling terminal at the port, located in Gujarat. Kandla is India's biggest cargo handling port by volume and one of the 13 major ports controlled by the union government. The company started operations at Dahej port in Gujarat.
The expansions at Mundra as well new port development at Hazira, Goa and Vizag are on schedule which in aggregate would add additional cargo handling capacity of about 115 million tonnes taking the total capacity to about 300 million tonnes by 2013 including Abbot Point.
