Adani Ports Q4 Results: Profit Rises 77%; Revenue To Grow 16% In FY25

Adani Ports and Special Economic Zone Ltd.'s net profit rose in the fourth quarter of last financial year. Net profit increased 76.87% to Rs 2,014.8 crore in the January to March period in line with estimates, as against Rs 1,139.07 crore in the year-ago period, according to an exchange filing on Thursday.

India's largest private port operator's consolidated revenue rose 18.96% to Rs 6,896.5 crore, compared with Rs 5,796.85 crore, meeting estimates.

• Revenue rose 18.96% to Rs 6,896.5 crore vs Rs 5,796.9 crore.

• Ebitda rose 23.61% to Rs 4,043.9 crore vs Rs 3,271.3 crore.

• Ebitda margin expands 220 bps at 58.63% versus 56.43%.

• Net profit up 76.87% at Rs 2,014.8 crore vs Rs 1,139.1 crore.

The company recorded a 76.8% jump in its net profit on account of lower exceptional loss of Rs 373.7 crore in the fourth quarter as compared to Rs 1,273.4 crore in the same period of last year.

• Cargo volumes up 26% at 108.7 MMT vs 86.3 MMT in Q4 FY24

• Volume grew 24% YoY to 420 MMT in FY24 vs revised guidance of 400 MMT.

• Holds 27% market share in India cargo volumes.

The company expects to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year.

With cargo volumes of 180 MMT, an increase of 16% in fiscal 2024, the company's flagship port, Mundra, is well placed to cross 200 MMT mark in fiscal 2025.

• Cargo volumes during the period to be 460 MMT to 480 MMT.

• Revenue for the period to be Rs 29,000 crore to Rs 31,000 crore.

• Ebitda for the period to be Rs 17,000 crore to Rs 18,000 crore.

• Net debt/Ebitda to be 2.2–2.5 times.

• Capex for the period to be in the range of Rs 10,500 crore–Rs 11,500 crore.

In FY24, the company outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and Ebitda by 6–8%, while closing the year with net debt to Ebitda ratio of 2.3x vs its guidance of 2.5x.

For FY24, the board has recommended a dividend of Rs 6 per share, which implies a payout of around Rs 1,300 crore for the company.

Shares of Adani Ports were trading 1.19% higher at Rs 1,340.65 apiece on the NSE after the results were announced, compared with a 0.2% rise in the benchmark NSE Nifty 50 at 2:45 p.m.