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NewsTranscript
00:00 Let's go across and hear what the management of Adani Ports has to say as they lay out the road
00:04 ahead for the company in FY25. APSEZ has delivered its strongest ever operational and financial
00:12 performance in FY24. We have outperformed against the cargo, revenue and EBITDA guidance provided
00:22 at the start of the year by 6 to 8 percent. Thanks to our customers, shareholders and other
00:29 stakeholders for maintaining their firm confidence in APSEZ's business. Some highlights of the year
00:37 gone. Firstly, on ports. APSEZ handled 420 million metric tons of cargo in FY24, which is 24 percent
00:49 year-on-year growth. In India, our cargo volume grew by 21 percent year-on-year, which is three
00:58 times the average Indian cargo volume growth rate, hence contributing significantly to India's growth.
01:05 Given the sweating of assets, our domestic ports business EBITDA margin expanded by around 150
01:15 basis points to reach 71 percent. Next, our logistics business. The rail volumes jumped
01:24 19 percent year-on-year to reach around 0.6 million TEUs, while bulk cargo volumes increased
01:32 by 40 percent to reach around 20 million metric tons. During the year, we launched the trucking
01:40 business segment with a fleet of around 900 trucks to provide last mile connectivity to the customers
01:48 from ports, ICDs and customer premises. Now, let me discuss the financials for the full year.
01:57 Our consolidated operating revenue increased by 28 percent to reach rupees 26,711 crore.
02:06 The consolidated EBITDA, excluding forex, grew by 24 percent year-on-year to rupees 15,864
02:16 crore. And the profit after tax jumped 50 percent year-on-year to rupees 8,104 crore.
02:26 Talking about our leverage, despite a capex of over rupees 7,400 crore during the year,
02:34 our net debt to EBITDA ratio improved to 2.3x, below our guided range of 2.5x.
02:44 An update on annual dividend. For the financial year 2024, the APSEZ board has recommended
02:53 a dividend of rupees 6 per share in line with our capital allocation policy.
02:59 This implies a payout of around 1300 crores. APSEZ continues to enjoy an investment-grade
03:10 rating from global third-party rating agencies. One of the Indian agency, CARE Ratings, has assigned
03:18 AAA to APSEZ, making us the first private corporate infrastructure developer to be rated AAA.
03:27 While S&P and ICRA upgraded the outlook of APSEZ to stable from negative during the year.
03:40 As of year-end, APSEZ is present across 15 ports in India, 4 ports internationally,
03:47 and its logistics base includes 127 trains, 111 tugs, 900 trucks, 12 MMLPs,
03:58 every silo capacity of 1.2 million metric ton and 2.4 million square feet of warehousing.
04:08 Looking at the current financial year, that is FY25, with an increase in our customer base,
04:15 increase of our revenue streams like trucking and operational excellence, we expect cargo volume
04:23 in the range of 460 to 480 million metric ton, revenue within 29,000 to 31,000 crore,
04:34 and EBITDA in the range of 17,000 to 18,000 crore, while investing a CAPEX of
04:43 rupees 10,500 to 11,500 crore for future growth. Our net debt to EBITDA ratio is expected to be
04:53 around 2.2 to 2.5 after factoring the CAPEX and the scheduled loan repayments. We look forward to
05:03 another great year ahead.