Adani Ports and Special Economic Zone (ASPEZ) owners earned a consolidated net profit of ₹1,158.88 crore in the fourth quarter of FY23, registering a growth of 5.1% as against ₹1,102.61 crore a year ago same quarter. Adani Ports concluded its FY23 fiscal with the highest-ever cargo volumes, record investment, and maintaining its net debt to EBITDA ratio well within the guided range.
However, the company’s revenue witnessed a much stronger growth of 40% to ₹5,797 crore in Q4FY23, compared to ₹4,140.8 crore.
Also, the Adani Group-backed ports and shipping flagship firm reported a 59% growth in EBITDA to ₹3,270.7 crore in Q4FY23, as against ₹2,057.1 crore in Q4FY22.
Adani Ports’ margins also expanded to 56.4% in Q4FY23 versus 49.7% in Q4FY22.
For investors, the company has also declared a dividend of ₹5 per share (250%) for the fiscal FY23. The record and payment dates will be announced in due course.
FY23 consolidated net profit stood at ₹5,310.18 crore versus ₹4,886.03 crore in FY22. Revenue in the fiscal jumped to ₹20,851.91 crore in FY23 compared to ₹17,118.79 crore.
In the year, Adani Ports won a total of five bids including two in ports business (mechanization of Berth 2 at Haldia Port and greenfield construction of Tajpur Port) and three in logistics business (Loni ICD, Valvada ICD, and 70 agri silos with cumulative capacity of 2.8 MMT).
For FY24, Adani Ports expects cargo volumes at 370-390 MMT resulting in a revenue of ₹24,000-25,000 crore and EBITDA of ₹14,500-15,000 crore. Total CAPEX during the year is expected to be ₹4,000-4,500 crore.
