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Informist, Thursday, May. 1, 2025

MUMBAI – Adani Ports and Special Economic Zone Ltd.'s consolidated net profit for the March quarter beat the Street's view on the back of a 23% on-year rise in its top line. The rise in revenues for the quarter was driven by higher cargo volumes, especially a 11% rise in volumes at the Mundra port in Gujarat, which is the largest commercial port in India. The comapny's bottom line for the latest quarter jumped 48% on year to INR 30.14 billion depsite a 28% increase in operating expenses. 

Sequentially, the company's bottom line rose 20% from INR 25.20 billion. Analysts had expected the company to report a consolidated net profit of INR 27.87 billion for the quarter, according to estimates from five brokerages.

The company's top line for the quarter grew to INR 84.88 billion from INR 68.97 billion a year ago, beating analysts' estimate of INR 82.03 billion. The top line was also up 7% sequentially. The company's consolidated earnings before interest, taxes, depreciation, and amortisation for the March quarter also rose 24% on year to INR 50.06 billion. For 2024-25 (Jan-Mar), its EBITDA rose 20% on year to INR 190.25 billion.

For the March quarter, the company reported an 8% on-year rise in port volume to 117.9 million tonnes. Volumes of the Mundra port, which contributes 45% of the total volumes of the company, rose 11% on year to 50.7 million tonnes during the quarter. In FY25, Mundra became the first Indian port to cross 200 million tonnes in annual cargo volume, Adani Ports said in its investor presentation.

On other hand, volumes at other ports of the company apart from Mundra Port rose a meagre 1%. The company's domestic volumes for the quarter rose 5% on year to 111.9 million tonnes. Its international volumes, though small in comparison, nearly tripled on year to 6 million tonnes from 2.4 million tonnes.

The revenue for the company's domestic ports vertical grew 12% on year to INR 227.40 billion in FY25. Revenue from its marine vertical grew two times to INR 11.44 billion whereas revenue from its trucking vertical grew three times to INR 4.28 billion. While these segments currently constitute a small portion of Adani Port's consolidated revenue for FY25, the company said revenue for the trucking vertical will grow 3-4 times in FY26, and that for the marine verticle will double in the year.

For FY26, the company said it expects its revenues to rise to INR 360 billion-INR 380 billion and the EBITDA to rise to INR 210 billion-INR 220 billion. In FY25, its consolidated revenue rose 14% on year to INR 304.75 billion and its EBITDA grew 20% on year to INR 190.25 billion. Its consolidated net profit rose 37% on year to INR 110.92 billion for the same period.

The company said it plans capital expenditure of INR 110 billion-INR 120 billion in FY26. Of this, it plans to spend INR 60 billion in its domestic ports segment and INR 20 billion each in its logistics and international ports segments. The remaining will be invested in the marine business and towards decarbonisation and improving technology.

The company announced a dividend of INR 7 per share for FY25. On Wednesday, shares of the company closed flat at INR 1,216.50 on the National Stock Exchange. Equity markets were closed Thursday on account of Maharashtra Day.  End

Edited by Akul Nishant Akhoury

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