Adani Ports & Special Economic Zone Ltd. Q1 2024 Financial Results PDF

Ref No: APSEZL/SECT/2024-25/51 August 1, 2024 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandr...

Ref No: APSEZL/SECT/2024-25/51 August 1, 2024 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 532921 Scrip Code: ADANIPORTS Sub: Submission of Media Release and Investor Presentation on Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2024 Dear Sir/Madam, In continuation to Outcome of Board Meeting dated 1st August, 2024, We hereby submit: 1. Media Release dated 1st August, 2024 on the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2024, as Annexure “A”. 2. Presentation on performance highlights of the Company for the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June, 2024 as Annexure “B”. The same is being uploaded on the Company’s website at www.adaniports.com. Kindly take the same on your record. Thanking you, Yours faithfully, For Adani Ports and Special Economic Zone Limited Kamlesh Digitally signed by Kamlesh Bhagia Bhagia 12:54:54 +05'30' Date: 2024.08.01 Kamlesh Bhagia Company Secretary Encl.: a/a Adani Ports and Special Economic Zone Ltd Tel +91 79 2555 4444 Adani Corporate House, Shantigram, Fax +91 79 2555 7177 Nr. Vaishno Devi Circle, S. G. Highway, [email protected] Khodiyar, Ahmedabad - 382421 www.adaniports.com Gujarat, India CIN: L63090GJ1998PLC034182 Registered Office: Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421, Gujarat, India  Annexure - A Media Release APSEZ kicks off FY25 with a strong 47% PAT growth in Q1 Volume grew 8% Y-o-Y to 109 MT Highest ever quarterly revenue at Rs. 7,560 Cr (21% YoY growth) Highest ever EBITDA and PAT at Rs. 4,848 Cr (up 29% YoY) and Rs. 3,107 Cr (up 47% YoY) respectively Net Debt to TTM EBITDA at 2.1x vs 2.3x in FY24 Ratings upgrade from two domestic rating agencies & outlook upgrade from international rating agency Signed two new port concession agreements and won one new port O&M contract Arrival of first mothership at the Vizhinjam transshipment port, equipped with South Asia’s most advanced container handling technology Ahmedabad, 1 August 2024: Adani Ports and Special Economic Zone Ltd (“APSEZ”) today announced its results for the quarter ending 30 June, 2024. Q1 Q1 Particulars (Rs Cr) Y-o-Y Change FY25 FY24 Cargo (MMT) 109.0# 101.4 8%# Revenue 7,560 6,248 21% EBITDA (excl. forex) 4,848 3,754 29% PAT 3,107 2,119 47% # Proforma 114.7 MMT cargo, a 13% increase in volume assuming 5.7 MMT loss in Gangavaram port, now fully restored. “FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. On the financial front, we posted all-time high earnings. But for the temporary disruption in Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been at 114.7 MMT, a 13% increase. On the growth front, we won two new port concessions and a port O&M contract. We are proud that four of our ports featured in World Bank’s Container Port Performance Index 2023” said Mr. Ashwani Gupta, Whole-time Director & CEO, APSEZ Operational highlights During the quarter, APSEZ clocked 109MMT of cargo volume (up 8% YoY). The growth was primarily driven by Containers (up 18% YoY) and Liquids & Gas (up 11% YoY). We had a temporary disruption leading to a loss of 5.7 MMT at the Gangavaram Port, which is now fully restored. Adani Ports and Special Economic Zone Ltd. Adani Corporate House”, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382 421, Gujarat., India CIN: L63090GJ1998PLC034182 Website: www.adaniports.com; Email: [email protected] Phone: 079-26565555; Fax: 079-25555500  Mundra port handled the highest every quarterly volume by any Indian port (51 MMT). Mundra, Kattupalli, Hazira, and Krishnapatnam featured in World Bank’s Container Port Performance Index 2023. The index benchmarks ports globally across multiple parameters including productivity, efficiency and reliability. Highest ever quarterly rail cargo (0.16Mn TEUs, up 19% YoY) and GPWIS volume (5.56 MMT, up 28% YoY). Container volume handled at MMLPs increased by 27% YoY to 103,784 TEUs. 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. Domestic Ports contributed Rs. 3,990 Cr. to EBITDA and Logistics contribution was at Rs. 144 Cr. Domestic ports EBITDA expanded by 32 bps to 72% due to better asset sweating. 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”, driven by improving scale and diversification. Business highlights: Signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port, Tanzania. CT2, with four berths, has an annual cargo handling capacity of 1 million TEUs and managed 0.82 million TEUs of containers in 2023. Received a LOI for development, operation and maintenance of Berth No. 13 at Deendayal Port. The Company has been awarded this LOI for a 30-year concession period through a competitive bidding process. Received LOI for five-year O&M of container facility at Netaji Subhas Dock at Syama Prasad Mookerjee Port, Kolkata. Netaji Subhas Dock is the largest container terminal on the eastern coast of India and handled 0.63 million TEUs in FY2023-24. APSEZ’s presence at the port will drive synergies with upcoming transshipment hubs at Vizhinjam and Colombo. First mothership arrived at the Vizhinjam Port, India’s first transshipment port equipped with South Asia’s most advanced Adani Ports and Special Economic Zone Ltd. Adani Corporate House”, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382 421, Gujarat., India CIN: L63090GJ1998PLC034182 Website: www.adaniports.com; Email: [email protected] Phone: 079-26565555; Fax: 079-25555500  container handling technology. Rakes count increased to 131 (from 127 at FY24 end). Warehousing capacity increased to 2.9 million sq. ft. with the addition of warehouse at Palwal (2.4 million sq. ft as of FY24 end). Agrisilo capacity was at 1.2 MMT and is expected to increase to 4 MMT on completion of the projects underway. Marine services business deployed a tug each in Mexico and Sri Lanka. ESG highlights Sustainalytics assigned a score of 11.3 to APSEZ, placing the company in “Low” risk category. APSEZ secured 95 percentile score and retained its position as the top-ranked company in the low carbon transition rating within the port sector. APSEZ was felicitated by CDP for its efforts in tackling climate change and implementing a robust engagement program within its supply chain. The award was presented at the 'Climate Action in India: Role of Businesses & Supply Chain’ ceremony, co-hosted by the Federation of Indian Chambers of Commerce & Industry (FICCI). CDP has assigned APSEZ a leadership band “A-“ in climate change and supplier engagement. Awards and accolades APSEZ clinched the prestigious title of “Best Port of the Year Containerised in a Private Sector” at the India Maritime Awards (8th Edition). APSEZ was awarded the prestigious title of “Master of Risk Logistics” at the 10th edition of the India Risk Management Awards. Adani Ports and Special Economic Zone Ltd. Adani Corporate House”, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382 421, Gujarat., India CIN: L63090GJ1998PLC034182 Website: www.adaniports.com; Email: [email protected] Phone: 079-26565555; Fax: 079-25555500 About Adani Ports & Special Economic Zone Ltd Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group, has evolved from a port company to an Integrated Transport Utility providing an end- to-end solution from its port gate to customer gate. It is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and 8 ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry, representing 27% of the country's total port volumes, thus providing capabilities to handle vast amounts of cargo from both coastal areas and the hinterland. The company is also developing a transshipment port at Colombo, Sri Lanka and operates the Haifa Port in Israel. Our Ports to Logistics Platform comprising port facilities, integrated logistics capabilities including multimodal logistics parks, Grade A warehouses, and industrial economic zones, puts us in an advantageous position as India stands to benefit from an impending overhaul in global supply chains. Our vision is to be the largest ports and logistics platform in the world in the next decade. With a vision to turn carbon neutral by 2025, APSEZ was the first Indian port and third in the world to sign up for the Science-Based Targets Initiative (SBTi) committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels. For more information, please visit www.adaniports.com For media queries, please contact: Roy Paul | [email protected] For Investor Relations, please contact: Rahul Agarwal | [email protected] Adani Ports and Special Economic Zone Ltd. Adani Corporate House”, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382 421, Gujarat., India CIN: L63090GJ1998PLC034182 Website: www.adaniports.com; Email: [email protected] Phone: 079-26565555; Fax: 079-25555500  Annexure - B Adani Ports and Special Economic Zone Ltd. Operational & Financial Highlights – Q1 FY25 Table of Contents A Adani Portfolio Overview B APSEZ: Company Profile C Market Leadership D Catalysts Driving Market Leadership Position E Strategic, and Operational Highlights F Financial Highlights Q1 FY25 G ESG Highlights H Annexures 2  A Group Profile STRICTLY CONFIDENTIAL  Adani Portfolio: A World class infrastructure & utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (74.72%) (100%) (50.00%) (100%) (100%) ANIL AdaniConneX3 AAHL ARTL Copper, Aluminum ADL AEL New Industries Data Centre Digital Airports Roads (100%) PVC (64.71%) (100%) Specialist NDTV Manufacturing5 (57.52%) (72.71%) (100%) (43.94%) AGEL APL Renewables IPP Mining Services & AWL Commercial Mining Food FMCG (74.94%) (37.40%) (65.89%) (100%) (70.33%) AESL ATGL2 APSEZ NQXT1 Cement4 T&D Gas Discom Ports & Logistics (%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries Listed cos Direct Consumer A multi-decade story of high growth centered around infrastructure & utility core 1. NQXT: North Queensland Export Terminal | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex, | 4. Adani Cement includes 70.33% stake in Ambuja Cements as on 30 th June, 2024 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited. Ambuja Cements Ltd. holds 58.08% stake in Sanghi Industries Ltd.| 5. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises Limited; APSEZ: Adani Ports and Special Economic Zone Limited; AESL: Adani Energy Solutions Limited; T&D: Transmission & Distribution; APL: Adani Power Limited; AGEL: Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani Roads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani W ilmar Limited; ADL: Adani Digit al Limited; IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride l 4 Promoters holding are as on 30 th June, 2024.  Adani Portfolio: Decades long track record of industry best growth with national footprint Secular growth with world leading efficiency National footprint with deep coverage Growth 3x 6 Growth 4x 6 EBITDA 71% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platform – ATGL EBITDA 91% 1,3,2 EBITDA 24% 1,3 AESL APL 350 Mn Adani Cement Userbase Note: 1. Data for FY24 ; 2. Margin for Indian ports business only l Excludes forex gains/losses; 3. EBITDA: PBT + Depreciatio n + Net Finance Costs – Other Income; 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business l 6. Growth pertains to expansion and development align ed with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: APSEZ's cargo volume surged from 113 MMT to 408 MMT (14%) between 2014 and 2024, outpacing the industry's growth from 972 MMT to 1539 MMT (5%). AGEL's operational capacity expanded from 0.3 GW to 10.9 GW (57%) between 2016 and 2024, surpassing the industry's growth from 46 GW to 143.6 GW (15%). AESL's transmission length increased from 6,950 ckm to 20,509 ckm (14%) between 2016 and 2024, surpassing the industry's growth from 3,41,551 ckm to 4,85,544 ckm (4%). ATGL expanded its geographical areas from 6 to 52 (27%) between 2015 and 2024, outperforming the industry's growth from 62 to 307 (19%). PBT: Profit before tax l ATGL:Adani Total Gas Limited l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited l AGEL: Adani Green Energy Limited l Growth represents the comparison wit h respective industry segment. Industry source: APSEZ (domestic cargo volume): https://shipmin.gov.in/division/transport-research l Renewable (operational capacity): Installed Capacity Report - Central Electricity Authority (cea.nic.in) l AESL (ckms): National Power Portal (npp.gov.in) l ATGL 5 (GAs): Brochure petroleum.cdr (pngrb.gov.in) | ckms: circuit kilometers | GA: Geographical Areas  Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value Creation ACTIVITY Analysis & market Site acquisition Engineering & design Life cycle O&M Delivering exceptional products & services for elevated intelligence planning engagement Concessions & Sourcing & quality Viability analysis regulatory agreements Asset Management plan Differentiated and many P&Ls PERFORMANCE Adani’s Core Infra. Platform – 350 Mn India’s Largest Longest Private HVDC World’s largest Energy Network Userbase Commercial Port Line in Asia Renewable Cluster Operation Center (at Mundra) (Mundra - Mohindergarh) (at Khavda) (ENOC) Growth Capital – Platform MANAGEMENT Strategic value Investment Case 6% Long Term Debt Mapping Development Infrastructure Financing 13% CAPITAL 14% Framework 31% PSU Banks March March Pvt. Banks Policy, Duration Risk Matching 2016 2024 Bonds 55% 19% Strategy & Risk Management – Rate & Currency 31% 2% NBFCs & FIs Risk Governance & Assurance DII Diversified Source of Capital 1% Framework 28% Global Int. Banks Capex LC Continued Power Utility Business - ENOC Human Capital Leadership Development Initiatives Focus & AI enabled Digital Transformation City Gas Distribution - SOUL Development Investment in Human Capital Investment Transportation Business - AOCC Note 1 Adani Environmental Resource Management Services Ltd. (additional company is being proposed) O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l AIMSL : Adani Infra Mgt 6 Services Pvt Ltd l IG: Investment Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Chan ge Conference l AGEL: Adani Green Energy Ltd. l NBFC: Non-Banking Financial Company l AIIL: Adani Infra (India) Limited  B APSEZ: Company Profile STRICTLY CONFIDENTIAL APSEZ: Transformational business model Ports SEZ Logistics National footprint with 15 ports Largest integrated logistics player in Large scale ‘ready to setup’ industrial across country’s coastline, & India land (SEZ) Development presence across 4 ports outside India Rail, Trucking, MMLPs, and Land Bank at Mundra, Dhamra, One stop solution to customers Warehousing connecting ports to Gangavaram & Krishnapatnam through a single window service customer gate Best in Class Efficiency Diversification & Integration Acquisition & Turnaround Entire gamut of services, from Removed multiple agency friction to dredging to evacuation enables ▪ Acquisition and turnaround strategy enable single source to entire supply cost efficient solutions with 70%+ has ensured EBITDA margin step up Operations chain requirement. post acquisition to APSEZ levels domestic port margin globally Digitizing through technology Diversification of Bulk and liquid ▪ Acquired 10 assets in last 4 years solutions (ITUP) with new age cargo like LNG / LPG Strategy Capital Management ESG 4x growth compared to market IG rated since FY16 Carbon neutral by 2025, Net zero without dilution in equity. thereafter Net Debt/ EBITDA at ~2.1x as on Value Creation Strategic partnerships in container Governance program assured by Jun’24 segment with MSC and CMA CGM, board committees TotalEnergies, IOCL accelerates Average maturity of long-term debt Reporting per CDP, TCFD & SBTi market share gain at 4.6 years ESG ratings Growth in non Mundra Ports, traffic parity in coasts and reaching customer gate builds the largest Transport Utility MMLP : Multimodal logistics Park | SEZ : Special Economic Zone | LNG : Liquified natural Gas | LPG : Liquified petroleum Gas | CDP : Carbon disclosure project | TCFD: Task Force on climate related financial disclosure | SBTi : Science Based Targets initiative | RONC: Remote Operating Nerve Center | IG: Investment Grade | ESG: Environmental, Social, and Governance; 8 APSEZ: A transport utility with string of ports and integrated logistics network Movable assets Tugs – 114 Dredgers - 28 Trains – 131 Trucks – 937 E-ITVs – 338 xcvzcxvzxcv Moga Dahej Kanech Kotkapura Kilaraipur Kaithal Panipat One to 15 in two Tauru Dhamora decades Tuna Patli & Samastipur & Kannauj Kishangarh Loni Palwal Darbhanga Mundra Patna Katihar Virochannagar Vidisha | Harda Hoshangabad | Kolkata Indore Satna Ujjain | Dewas ^Haldia Land bank at 4 Tumb & ports Valvada Nagpur Dhamra Mumbai Hazira Taloja Gopalpur Container Terminals Dighi Gangavaram Bulk Terminals Elavur Krishnapatnam Multipurpose Ports Logistics Parks Malur Warehouse (Operational) (Trains, MMLPs, Mormugao Coimbatore Agri Silos Kattupalli Trucks, Warehousing) Warehouse (Under Construction) Silos (Under Construction) Ennore ^Vizhinjam Karaikal Presence across value chain End-to-end solution Accessibility to 90% of country’s hinterland *Includes both SEZ and non SEZ land|| SEZ : Special economic zone; ^ Under Construction GPWIS – General Purpose Wagon Investment Scheme | CTO – Container Train Operator | IWW –Inland Water Ways | AFS – Air Freight Stations | HRC : Hot Rolled Coil | CRC : Cold Rolled Coil | MMT : Million Metric Ton 9  APSEZ: India’s largest private port player, building global presence West Coast East Coast Capacity Capacity ~355 MMT ~272 MMT Dahej 16 MMT Tuna 14 MMT Mundra 264 MMT ^Haldia 4 MMT Dhamra Hazira 50 MMT 30 MMT Gopalpur 20 MMT Dighi Gangavaram Container Terminals 8 MMT 64 MMT Bulk Terminals Krishnapatnam Multipurpose Ports 75 MMT Mormugao Kattupalli 5 MMT 25 MMT ^Vizhinjam Ennore Karaikal 12 MMT 18 MMT 22 MMT Operating ports in Haifa and Tanzania 15 ports with capacity of ~627 MMT O&M contract in Australia Achieving east-west coast parity Building container terminal at Colombo, Sri Lanka ^ Under Construction | MMT : Million Metric Ton; Note: APSEZ has recently received the letter of intent for the O&M of the container facility at the Netaji Subhas Dock at the Syama Prasad Mookerjee Port in Kolkata & development, 10 operation and maintenance of Berth No. 13 at Deendayal Port  APSEZ: Land bank supporting industry growth in backyard of the ports Dhamra: ~2,000+ Ha Rail: 62.5 km longest electrified NGR Line in the country (electrified from Bhadrak / Ranital to DTY) and connects Howrah Chennai main rail link at Bhadrak and Ranital with ROB over NH 16 and ROR over main line. Road: Dhamra Port is connected to the NH 16 (four lane National Highway between Howrah and Chennai) via 67 km road Mundra : ~12,500+ Ha Gangavaram: ~1,000+ Ha Rail: 64-kilometer dedicated electrified Mundra-Adipur double Road: 4 lane expressway of 3.8 km connecting the track railway line, which port with the NH5 connects Mundra Port to the Rail: Twin Railway line connectivity to the main broad Indian railways rail network at gauge national network of "Chennai-Visakhapatnam- Adipur, Gujarat. Howrah" Road : Connected to Indian National Highway (NH) network through two State Highways(SH) Krishnapatnam: ~2,750+ Ha - SH 48 via Anjar and SH 6 via Gandhidham. Rail : Connected to the Indian railway network Road : Dedicated 23 Km long 4 lane road connectivity Air: 1900-meter-long airstrip to connects Krishnapatnam Port to National Highway 16 serve passenger and air cargo (Chennai-Kolkata Highway). requirements 11 Figures in Ha represent industrial land bank; DTY – Dhamra Terminal Yard, ROB – Railway over bridge, ROR – Railway over railway APSEZ: Enabling end-to-end service (Port Gate Customer Gate) Business Current Scale (Q1 FY25) Growth (FY29 F) Leading infra utility player 1.3X India’s leading third-party Marine Flotila 114 140 marine services provider ~3X Largest private rail Rail Tracks 690 KMs 2,000 KMs network ~2.3x Largest private Container Trains 131 300 Train Operator ~2X MMLPs 12 20 Covering all key markets ~8X Grain Silos 1.2 MMT 10 MMT Dominant player ~7x State of the art Grade A Warehousing 2.9 Mn Sq. Ft. 20 Mn Sq. Ft. warehousing ~5.3X Trucking 937 5,000 Asset-light model 12 MMLP – Multi Modal Logistics Park |MMT – Million Metric Tonne, IFT – Inland Freight Terminals; Marine Flotila indicate count of tugs; FY29 F indicates forecast numbers  C Market leadership STRICTLY CONFIDENTIAL  APSEZ: Growing market share All India and APSEZ Cargo Volumes Market Share of APSEZ (%) 30% 27% 25% 20% 15% 10% 10% 5% 1% 0% FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Market share growth driven by operational excellence, cargo diversification and business model transformation 14 The above data pertains to APSEZ domestic cargo volumes;  APSEZ: Long term growth way ahead of the industry All India Cargo Throughput All India and APSEZ Domestic Cargo Volumes 1,600 1,539 1,500 Cargo Volumes (MMT) 1,400 1,282 1,500 1,300 1,200 1,350 1,100 1,200 973 1,000 1,050 900 900 FY14 FY19 FY24 750 All India Cargo (MMT) 600 450 500 408 300 400 150 300 208 - 200 113 FY13 FY19 FY10 FY11 FY12 FY14 FY15 FY17 FY16 FY18 FY05 FY21 FY07 FY08 FY02 FY03 FY04 FY06 FY09 FY20 FY22 FY23 FY24 100 - All India Port Cargo APSEZ Cargo FY14 FY19 FY24 APSEZ Cargo (MMT) APSEZ cargo volumes CAGR over FY14-FY24E at 14% is 3x the industry volumes growth rate (5%) 15 The above data pertains to APSEZ domestic cargo volumes;  APSEZ: Strong cashflow generation Revenue from operations (Rs Cr) EBITDA (Rs Cr) Net Cash Generated from Operations (Rs Cr) 30,000 18,000 16,000 15,018 26,711 15,864 16,000 14,000 25,000 14,000 12,000 20,000 12,000 10,000 10,000 15,000 8,000 10,925 8,000 7,067 6,029 6,000 10,000 6,000 4,000 4,830 4,000 2,977 5,000 2,000 1,132 2,000 - - - FY14 FY19 FY24 FY14 FY19 FY24 FY14 FY19 FY24 Revenue and EBITDA growing almost 2-3x every five years Average transformation of EBITDA to operating cashflows is healthy at over 70% With 70% domestic port EBITDA margins, APSEZ is one of the most profitable port operator globally 16 EBITDA is excluding forex gain/loss  APSEZ: EBITDA margin expansion across both ports and logistics business Domestic Ports EBITDA (Rs Cr) Logistics EBITDA (Rs Cr) 16,000 14,907 600 540 14,000 500 12,000 10,000 400 8,000 6,053 300 6,000 200 4,000 2,061 90 2,000 100 - - FY14 FY19 FY24 FY19 FY24 Domestic Ports EBITDA Margin % Logistics EBITDA Margin % 80% 71% 30% 67% 68% 26% 70% 25% 60% 20% 50% 16% 40% 15% 30% 10% 20% 5% 10% 0% 0% FY14 FY19 FY24 FY19 FY24 Ports EBITDA has grown at 22% CAGR during the decade, with EBITDA margin expansion of 400 bps Logistics EBITDA has increased at CAGR of 43% during past 5 years, with EBITDA margin expansion of 10% 17 EBITDA is excluding forex gain/loss; Logistics segment reporting was not done during FY13  D Catalysts Driving Market Leadership Position STRICTLY CONFIDENTIAL  APSEZ: Geographical & cargo diversification Growing share of non Mundra Cargo Domestic Cargo Diversification 11% 34% 408 56% Non Mundra ports MMT volume CAGR 34% 89% from FY14 66% 44% 208 36% MMT FY14 FY19 FY24 Mundra Non-Mundra 113 MMT East Coast – West Coast Parity 32% 15% 43% FY14 FY19 FY24 FY14 FY19 FY24 100% 85% 57% Others Crude Coal Container West East West East West East 19 The above data pertains to APSEZ domestic cargo volumes. APSEZ: Strategic partnerships & proximity to customers Strategic Partnerships Sticky Cargo Share Year Company Name Partner & Stake Adani International MSC 408 2011 Container (50%) Terminal Pvt Ltd 56% 54% Adani CMA Mundra 337 CMA-CGM 49% 2014 Terminal 312 (50%) Pvt Ltd Dhamra LNG Terminal Total Energies 230 2019 Pvt Ltd (50%) 183 155 Colombo West John Keells & Sri 2022 International Lanka Port Authority Terminal (Pvt) Ltd (34% & 15%) Gadot Group 2022 Haifa Port Company (30%) FY22 FY23 FY24 Indian Oil Adani 2022 IOCL (49%) Sticky Cargo Total Cargo Sticky Cargo (%) Ventures Ltd Ennore Container 2023 MSC (49%) Terminal Pvt Ltd AD Ports Group & East Africa Gateway 2024 East Harbour 20 Limited (EAGL) Terminals Ltd (70%) Sticky cargo data pertains to APSEZ domestic cargo volumes; IOCL – Indian Oil Corporation Limited,  APSEZ: Quality assets Top 10 ports of India include Mundra & Key characteristics of Mundra & Krishnapatnam Krishnapatnam FY09 FY14 FY19 FY24 Mundra & Krishnapatnam are some of the Kandla Sikka Mundra Mundra deep draft water ports (17-18m depth) in the Sikka Mundra Sikka Paradip APSEZ portfolio Vizag Kandla Kandla Kandla Mundra Port berthed MSC Anna (length of Chennai Paradip Paradip Sikka 399.98 meters and capacity of 19,200 TEUs), the largest container ship to be ever JNPT JNPT JNPA JNPA berthed at any Indian Port, in May-24 Kolkata Mumbai Vizag Vizag In 2023, Krishnapatnam berthed its largest Mumbai Vizag Kolkata Mumbai vessel measuring 335.94 m LOA and 42.94 Paradip Chennai Mumbai Kolkata m beam Mormugao Kolkata Krishnapatnam Krishnapatnam Mundra Port is the largest commercial port New Mangalore New Mangalore Chennai Chennai and container port of India The above data pertains to APSEZ domestic cargo volumes 21 APSEZ: Digital platforms providing end-to-end connectivity Our Integrated Transport Utility Platform (ITUP) has enabled improved efficiency across different segments of port operations Our Control and Command Center for the logistics business is enabling volume growth and improved EBITDA margins through optimal asset utilization We continue to invest in digitization and automation for further efficiency improvements and cost reductions 22  E Strategic, and Operational Highlights STRICTLY CONFIDENTIAL  APSEZ: Strategic & Operational Highlights Ports & Marine Services Signed a 30-year concession to operate container terminal at Dar es Salaam Port, Tanzania Received LOI for O&M of a container terminal at Syama Prasad Mookerjee Port, Kolkata Received LOI for development, operation and maintenance of Berth No. 13 at Deendayal Port Vizhinjam Port received its first mother ship, San Fernando, a 300-meter-long container vessel operated by Maersk with a capacity of 8,000-9,000 TEUs (twenty-foot equivalent units) Liquid terminal at Hazira Port expanded with 4 tanks of 15,000 kL each 6 new container services added across 2 domestic APSEZ ports In Q1 FY25, APSEZ handled ~27% of the country’s total cargo and ~46% of container cargo Overall, cargo volumes recorded a healthy 8% YoY growth to 109 MMT*, with o Growth was recorded in container cargo (up 18% YoY) and liquid & gas (up 11% YoY) APSEZ domestic cargo volumes grew by 9% YoY vs 4% growth in India’s cargo volumes in Q1 FY25 Marine services business deployed a tug each in Mexico and Sri Lanka 24 * Proforma 114.7 MMT cargo, a 13% increase in volume assuming 5.7 MMT loss in Gangavaram port, now fully restored. APSEZ: Strategic & Operational Highlights Ports Mundra Port handled 2.1 Mn TEUs in Q1 FY25, which is 25% higher than its closest competitor Mundra Port recorded highest ever quarterly cargo handled by any port in India with 51.1 MMT in Q1 FY25 Krishnapatnam port handled its maiden LPG Vessel MT. AL MARYAH at Liquid Berth in Apr-24 Dighi Port handled its highest Rock Boulders cargo of 47,799 MT in Apr-24 Kattupalli Port handled its highest steel cargo of 47,409 MT in May-24 Mundra Port berthed MSC Anna (length of 399.98 meters and capacity of 19,200 TEUs), the largest container ship to be ever berthed at any Indian Port, in May-24 Krishnapatnam Port handled its highest liquid cargo of 0.28 MMT in May-24 AICTPL has achieved a new milestone by handling 3,02,256 TEUs in Jun-24 (a new national record) Kattupalli Port handled its highest ever container traffic of 81,035 TEUs in Jun-24 Tuna Terminal handled iron ore pellets cargo commodity for the first time in Jun-24 25 APSEZ: Strategic & Operational Highlights Logistics ALL recorded its highest ever rail quarterly cargo volumes – container 0.16 Mn TEUs (up 19% YoY), and bulk cargo over 5.56 MMT (up 28% YoY) Container volumes handled at MMLPs increased by 27% YoY to 103,784 TEUs Rakes: o Total rakes count increased to 131 (Container: 67, GPWIS: 54, Agri: 7, AFTO: 3) from 127 as of FY24 end MMLPs: o Total MMLP count at 12 as on Q1 FY25 Warehouses: o Total warehousing capacity increased to 2.9 Mn Sq. Ft. with the addition of warehouse in Palwal from 2.4 Mn Sq. Ft. as of FY24 end Agri Silos: o Total Agrisilo capacity at 1.2 MMT and expected to increase to 4 MMT with construction of silos at another 70 locations being undertaken Trucking: o Creation of new trucking vertical to build/focus on last mile connectivity solution o APSEZ is operating a fleet size of 937 trucks as on Jun’24 o Current strategy primarily focused on asset light model 26 APSEZ: Key awards reflecting operational excellence 4 ports from APSEZ portfolio (Mundra, Krishnapatnam, Hazira, and Kattupalli) find place within top 100 ports globally in the world bank performance index of Container ports. APSEZ clinched the prestigious title of Best Port of the Year Containerised in a Private Sector, while AICTPL was honoured as the Best Container Terminal of the Year (Volume) at the India Maritime Awards (8th Edition). APSEZ has been awarded the prestigious title of "Master of Risk Logistics" at the 10th edition of the India Risk Management Awards. APSEZ was honoured to receive multiple awards from Apex India Foundation! Mormugao Port shines as the diamond winner for Environmental Excellence, while Kattupalli Port, Gangavaram Port, and Krishnapatnam Port are proud recipients of Platinum awards. APSEZ won the awards for Internal Auditor of the Year and Best Audit Innovation of the Year at 2024 Audit and Risk Summit in Mumbai 27  APSEZ: Robust growth driven by container volumes (YoY) Q1 FY24 Q1 FY25 APSEZ Cargo volume 8% East Coast Volume* Non Mundra Volume* 101.4 109.0# Total MMT MMT 9% 3% 98.1 106.8 2% Domestic MMT MMT 43.4 42.2 56.6 55.6 MMT MMT MMT MMT 31% International 3.2 2.2 MMT MMT APSEZ Container volume 16% West Coast Volume* Mundra Volume* 2.5 mn 2.9 mn Total TEUs TEUs 19% 18% 2.3 mn 2.7 mn 23% Domestic 54.8 64.5 41.5 51.1 TEUs TUEs MMT MMT MMT MMT 21% International 0.19 mn 0.15 mn TEUs TEUs 28 * The data pertains to APSEZ India cargo volumes only (excl. Haifa); # Proforma 114.7 MMT cargo, a 13% increase in volume assuming 5.7 MMT loss in Gangavaram port, now fully restored.  APSEZ: Cargo handling across ports and coasts 44% 40% 41% 39% East Coast vs West Coast Share* 56% 60% 59% 61% Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 APSEZ All India West Coast East Coast Q1 FY24 Q1 FY25 42% 48% Mundra vs Non Mundra Share* 52% 58% Mundra Non-Mundra Mundra Non-Mundra 29 * The data pertains to APSEZ India cargo volumes only (excl. Haifa) APSEZ: Diversifying cargo portfolio 41% 43% 41% 41% 38% 39% 38% 37% 38% 37% 37% 36% 36% 33% 33% 32% 33% 32% 17% 13% 13% 13% 16% 12% 15% 12% 13% 13% 11% 11% 11% 8% 9% 7% 6% 6% 3% 3% 2% 3% 3% 3% 2% 3% 2% 2% 2% 1% 0% 1% 0% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Q1 FY25 Dry (Coal) Dry (Other than Coal) Liquid (excl Crude) Crude Gas Container 30  APSEZ: Growth through existing ports and terminals Growth at Mundra was driven primarily by containers, followed by dry cargo, and liquid & gas Growth at Dhamra was driven by dry cargo (mainly minerals), followed by crude & gas cargo Growth at terminals was driven mainly by container cargo Stable cargo volumes at Dahej, Hazira, Kattupalli and Karaikal 31 * Terminals at major ports and Dighi APSEZ: Container cargo drives growth Growth primarily driven by containers, liquids and gas Lower dry cargo (steel, salt) volume 32  F Financial Highlights Q1 FY25 STRICTLY CONFIDENTIAL APSEZ: Consolidated financial performance – SEBI format CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2024 (` in crore) Quarter Ended Year Ended June 30, March 31, June 30, March 31, Sr. Particulars 2024 2024 2023 2024 No. Unaudited Unaudited Unaudited Audited (Refer Note 13) 1 Income a. Revenue from Operations 6,956.32 6,896.50 6,247.55 26,710.56 b. Gain arising on Infrastructure Development - sale of 603.27 - - - stake in terminal asset (refer note 9) c. Other Income 494.59 303.44 383.68 1,499.42 Total Income 8,054.18 7,199.94 6,631.23 28,209.98 2 Expenses a. Operating Expenses 1,866.57 1,796.46 1,626.58 7,116.34 b. Employee Benefits Expense 469.27 438.50 501.53 1,896.40 c. Finance Costs - Interest and Bank Charges 655.40 676.57 706.14 2,784.41 - Derivative (Gain)/Loss (net) (171.34) (72.30) (73.45) (51.47) - Foreign Exchange Loss/(Gain) (net) 31.17 14.51 (10.93) 112.82 d. Depreciation and Amortisation Expense 1,011.87 979.09 949.58 3,888.46 e. Other Expenses 376.00 617.69 365.79 1,833.90 Total Expenses 4,238.94 4,450.52 4,065.24 17,580.86 3 Profit before share of profit/(loss) from joint ventures, 3,815.24 2,749.42 2,565.99 10,629.12 exceptional items and tax (1-2) 4 Share of profit/(loss) from joint ventures (net) (77.16) (34.74) (75.25) (161.69) 5 Profit before exceptional items and tax (3+4) 3,738.08 2,714.68 2,490.74 10,467.43 6 Exceptional items (refer note 7) (145.43) (373.70) - (373.70) 7 Profit before tax (5+6) 3,592.65 2,340.98 2,490.74 10,093.73 8 Tax Expense (net) 485.42 326.21 371.36 1,989.74 - Current Tax 527.99 296.53 269.30 1,134.73 - Deferred Tax (42.57) 29.68 102.06 399.85 Exceptional Item -Write off of past MAT credit on election of new tax - - - 455.16 regime (net) (refer note 8) 9 Profit for the period/year (7-8) 3,107.23 2,014.77 2,119.38 8,103.99 Attributable to: Equity holders of the parent 3,112.83 2,039.66 2,114.72 8,110.64 Non-controlling interests (5.60) (24.89) 4.66 (6.65) 10 Other Comprehensive Income Items that will not be reclassified to profit or loss 6.64 -7.05 11.49 7.43 - Re-measurement (Loss)/Gain on defined benefit 6.64 (3.81) 11.49 10.31 plans (net of tax) - Net (Loss)/Gain on FVTOCI Investments (net of tax) - (3.24) - (2.88) Items that will be reclassified to profit or loss -33.41 149.76 -19.81 -38.88 - Exchange differences on translation of foreign (36.78) 115.48 (27.57) 136.18 operations - Effective portion of (Loss)/Gain on designated portion 6.76 (30.50) 20.81 (209.34) of cash flow hedge (net of tax) - Share in Other Comprehensive Income/(Loss) of joint (3.39) 64.78 (13.05) 34.28 ventures net of tax) Total Other Comprehensive Income/(Loss) (net of tax) (26.77) 142.71 (8.32) (31.45) Attributable to: Equity holders of the parent (21.55) 143.76 (0.77) (40.11) Non-controlling interests (5.22) (1.05) (7.55) 8.66 11 Total Comprehensive Income for the period/year (9+10) 3,080.46 2,157.48 2,111.06 8,072.54 Attributable to: Equity holders of the parent 3,091.28 2,183.42 2,113.95 8,070.53 Non-controlling interests (10.82) (25.94) (2.89) 2.01 12 Paid-up Equity Share Capital (Face value of ` 2 each) 432.03 432.03 432.03 432.03 13 Other Equity excluding Revaluation Reserves as at 52,512.74 14 Earnings per Share (Face value of ` 2 each) Basic and Diluted (in `) (Not Annualised for the quarter) 14.41 9.44 9.79 37.55 34  APSEZ: Financial performance – Q1 FY25 (in INR Cr) Q1 FY24 Q1 FY25 Particulars Revenue EBITDA^ PAT Revenue EBITDA^ PAT APSEZ Consolidated 6,248 3,754 2,119 7,560 4,848 3,107 JVs AICTPL (CT-3), JV with MSC 439 239 167 486 268 221 ACMTPL (CT-4), JV with CMA-CGM 206 120 49 233 132 66 IAVL, JV with IndianOil 179 92 8 131 85 49 Dhamra LNG, JV with TOTAL 65 -26 -147 120 40 -119 APSEZ’s EBITDA with forex impact reflects 28% Y-o-Y jump (Rs 4,817 Cr in Q1 FY25 vs Rs 3,765 Cr in Q1 FY24) ^EBITDA excludes forex loss of INR 31 cr. in Q1 FY25 vs. forex gain of INR 11 cr. in Q1 FY24; 35  APSEZ: Key segment wise operating revenue & EBITDA – Q1 FY25 (YoY, in INR Cr) Domestic Ports Logistics 5,536 571 4,911 72% 72% 28% 507 25%