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Questions and Answers
What was the year-over-year growth percentage for Containers?
What was the year-over-year growth percentage for Containers?
Which port handled the highest ever quarterly volume by any Indian port?
Which port handled the highest ever quarterly volume by any Indian port?
By how much did the EBITDA (excluding forex) increase according to the financial highlights?
By how much did the EBITDA (excluding forex) increase according to the financial highlights?
What is the annual cargo handling capacity of Container Terminal 2 at the Dar es Salaam Port?
What is the annual cargo handling capacity of Container Terminal 2 at the Dar es Salaam Port?
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What was the highest ever rail cargo volume reported?
What was the highest ever rail cargo volume reported?
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What is the net debt to TTM EBITDA ratio at the quarter-end?
What is the net debt to TTM EBITDA ratio at the quarter-end?
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Which credit rating was upgraded to 'AAA'?
Which credit rating was upgraded to 'AAA'?
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What was the contribution of Domestic Ports to EBITDA?
What was the contribution of Domestic Ports to EBITDA?
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What percentage did AGEL's operational capacity increase from 2016 to 2024?
What percentage did AGEL's operational capacity increase from 2016 to 2024?
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How much did APSEZ's cargo volume increase from 2014 to 2024?
How much did APSEZ's cargo volume increase from 2014 to 2024?
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Which company outperformed the industry's growth rate in transmission length from 2016 to 2024?
Which company outperformed the industry's growth rate in transmission length from 2016 to 2024?
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What is the EBITDA margin for the Indian ports business according to the provided data?
What is the EBITDA margin for the Indian ports business according to the provided data?
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By how much did ATGL expand its geographical areas from 2015 to 2024?
By how much did ATGL expand its geographical areas from 2015 to 2024?
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What was the industry's cargo volume growth from 2014 to 2024?
What was the industry's cargo volume growth from 2014 to 2024?
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Which of the following has the highest growth percentage in operational capacity from 2016 to 2024?
Which of the following has the highest growth percentage in operational capacity from 2016 to 2024?
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What was the industry growth percentage in transmission length from 2016 to 2024?
What was the industry growth percentage in transmission length from 2016 to 2024?
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What is the main purpose of the letter dated August 1, 2024?
What is the main purpose of the letter dated August 1, 2024?
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Which attachment is referred to as Annexure 'A' in the letter?
Which attachment is referred to as Annexure 'A' in the letter?
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Who is the sender of the letter?
Who is the sender of the letter?
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What date is the financial quarter ended for which results are reported?
What date is the financial quarter ended for which results are reported?
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Where can the financial results be accessed by investors?
Where can the financial results be accessed by investors?
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What is the Scrip Code used for BSE Limited mentioned in the letter?
What is the Scrip Code used for BSE Limited mentioned in the letter?
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Which document provides performance highlights of the financial results?
Which document provides performance highlights of the financial results?
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What is the registered office address mentioned in the letter?
What is the registered office address mentioned in the letter?
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What is the projected CAGR for APSEZ cargo volumes from FY14 to FY24?
What is the projected CAGR for APSEZ cargo volumes from FY14 to FY24?
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What was the EBITDA margin for domestic ports in FY24?
What was the EBITDA margin for domestic ports in FY24?
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By how much has the logistics EBITDA margin increased from FY19 to FY24?
By how much has the logistics EBITDA margin increased from FY19 to FY24?
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Which aspect contributed to the growth of APSEZ's market share?
Which aspect contributed to the growth of APSEZ's market share?
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What is the expected revenue growth pattern for APSEZ?
What is the expected revenue growth pattern for APSEZ?
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What percentage of cargo is expected to be from non-Mundra ports by FY24?
What percentage of cargo is expected to be from non-Mundra ports by FY24?
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What has been the CAGR growth rate of logistics EBITDA over the past five years?
What has been the CAGR growth rate of logistics EBITDA over the past five years?
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Which of the following reflects the domestic cargo volumes for APSEZ in FY24?
Which of the following reflects the domestic cargo volumes for APSEZ in FY24?
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What was the Net Cash Generated from Operations in Rs Cr in FY24?
What was the Net Cash Generated from Operations in Rs Cr in FY24?
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What indicates a strong market leadership position for APSEZ?
What indicates a strong market leadership position for APSEZ?
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What is the EBITDA for logistics in FY24?
What is the EBITDA for logistics in FY24?
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What percentage of increase in EBITDA margin was observed for domestic ports over a decade?
What percentage of increase in EBITDA margin was observed for domestic ports over a decade?
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How much is the CAGR for all India cargo throughput projected to be by FY24?
How much is the CAGR for all India cargo throughput projected to be by FY24?
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Which award did APSEZ win at the 2024 Audit and Risk Summit?
Which award did APSEZ win at the 2024 Audit and Risk Summit?
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What was the percentage increase in domestic cargo volume from Q1 FY24 to Q1 FY25?
What was the percentage increase in domestic cargo volume from Q1 FY24 to Q1 FY25?
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What was the total container volume of APSEZ in Q1 FY25?
What was the total container volume of APSEZ in Q1 FY25?
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How much did the international cargo volume decrease in Q1 FY25 compared to Q1 FY24?
How much did the international cargo volume decrease in Q1 FY25 compared to Q1 FY24?
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What was the percentage growth of container volume from domestic operations in Q1 FY25?
What was the percentage growth of container volume from domestic operations in Q1 FY25?
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What does TEUs stand for in the context of cargo volume?
What does TEUs stand for in the context of cargo volume?
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Which segment showed a 3% decrease in volume in Q1 FY25?
Which segment showed a 3% decrease in volume in Q1 FY25?
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What was the percentage increase in total cargo volume from Q1 FY24 to Q1 FY25?
What was the percentage increase in total cargo volume from Q1 FY24 to Q1 FY25?
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How many million TEUs did APSEZ record in international container volume Q1 FY24?
How many million TEUs did APSEZ record in international container volume Q1 FY24?
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Which volume segment did not experience growth in Q1 FY25?
Which volume segment did not experience growth in Q1 FY25?
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Which company partnered with Adani International Container Terminal Pvt Ltd in 2011?
Which company partnered with Adani International Container Terminal Pvt Ltd in 2011?
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What percentage of cargo at APSEZ was handled by it in Q1 FY25?
What percentage of cargo at APSEZ was handled by it in Q1 FY25?
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Which port received its first mother ship in 2023?
Which port received its first mother ship in 2023?
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What growth percentage did APSEZ achieve in container cargo YoY?
What growth percentage did APSEZ achieve in container cargo YoY?
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Which company is involved with the liquid terminal expansion at Hazira Port?
Which company is involved with the liquid terminal expansion at Hazira Port?
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What is the length of the largest vessel Krishnapatnam Port berthed in 2023?
What is the length of the largest vessel Krishnapatnam Port berthed in 2023?
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Which strategic partnership was formed for the Ennore Container Terminal in 2023?
Which strategic partnership was formed for the Ennore Container Terminal in 2023?
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Which characteristic is true for both Mundra and Krishnapatnam ports?
Which characteristic is true for both Mundra and Krishnapatnam ports?
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How many new container services were added across APSEZ ports in recent updates?
How many new container services were added across APSEZ ports in recent updates?
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Which of the following ports signed a concession agreement for a container terminal in Tanzania?
Which of the following ports signed a concession agreement for a container terminal in Tanzania?
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What percentage of cargo volume growth did APSEZ experience compared to India's overall cargo volumes in Q1 FY25?
What percentage of cargo volume growth did APSEZ experience compared to India's overall cargo volumes in Q1 FY25?
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What type of vessel did the San Fernando represent when it arrived at Vizhinjam Port?
What type of vessel did the San Fernando represent when it arrived at Vizhinjam Port?
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Who is a partner in the East Africa Gateway Limited terminal operations set to begin in 2024?
Who is a partner in the East Africa Gateway Limited terminal operations set to begin in 2024?
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Which of the following is true regarding the sticky cargo at APSEZ?
Which of the following is true regarding the sticky cargo at APSEZ?
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Study Notes
Adani Ports and Special Economic Zone Ltd (APSEZ) Q1 FY25 Results
- APSEZ reported strong Q1 FY25 results, with a 47% increase in profit after tax (PAT).
- Revenue reached a record high of Rs. 7,560 Cr, driven by a 21% YoY (year-over-year) surge.
- Earnings before interest, tax, depreciation, and amortization (EBITDA, excluding forex) saw a 29% increase, reaching Rs. 4,848 Cr.
- Domestic port EBITDA contributed Rs. 3,990 Cr.
- Logistics contribution to EBITDA was Rs. 144 Cr.
Financial Highlights
- Revenue grew by 21% YoY to Rs 7,560 Cr in Q1 FY25.
- EBITDA (excluding forex) jumped 29% to Rs. 4,848 Cr.
- Net debt to TTM EBITDA at quarter-end stood at 2.1x.
- CARE and ICRA upgraded APSEZ's credit rating to 'AAA'.
- S&P upgraded credit outlook to "Positive" from "Stable".
Operational Highlights
- Cargo volume increased by 8% YoY to 109 MMT.
- Container volume handled by Multi-Modal Logistics Parks (MMLPs) grew by 27%.
- Highest ever quarterly rail cargo
- Highest ever quarterly GPWS (General Purpose Wagon Investment Scheme) volume
- Port handled highest quarterly volume by any Indian port (51MMT) at Mundra
- Two new port concessions and one port O&M contract
- First mothership arrived at Vizhinjam transshipment port
ESG Highlights
- Sustainalytics assigned APSEZ a score of 11.3, placing it in the "Low" risk category.
- Received a 95 percentile score in the low-carbon transition rating within the port sector
- CDP awarded for work on tackling climate change and improving supply chain
- Achieved leadership band "A-" in climate change and supplier engagement.
Awards
- APSEZ won the "Best Port of the Year Containerised" award at the India Maritime Awards
- APSEZ won the "Master of Risk Logistics" award at the India Risk Management Awards
Cargo Diversification
- Cargo volumes in non-Mundra ports saw a significant increase.
- APSEZ successfully diversified its cargo and geographical reach
Strategic Partnerships
- Signed a 30-year concession agreement with the Tanzania Ports Authority
- Received Letter of Intent (LOI) for O&M of a terminal at the Netaji Subhas Dock
- Acquired 10 assets in recent years
Company Profile
- Adani Ports and Special Economic Zone Ltd (APSEZ) is a part of the Adani Group, operating integrated transport facilities from port gate to customer gate
- The company has a significant presence with 15 ports, across India's coastline with locations outside India
- Strategically located ports and terminals located on both the West and East coast
- APSEZ has emerged as India's largest private port player with plans to become a global port and logistics player
FY25 Guidance
- Cargo volume: 460-480 MMT
- Revenue: Rs 29,000-31,000 Cr
- EBITDA: Rs 17,000-18,000 Cr
- Capex: Rs 10,500-11,500 Cr
- Net debt-to-EBITDA ratio: 2.2-2.5x
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