Adani Ports & Special Economic Zone (APSEZ) reports a robust 77 percent increase in net profit for Q4 FY24, reaching Rs 2,015 crore, fueled by revenue growth.
Adani Ports and Special Economic Zone (APSEZ) capped off a successful fiscal year (FY) 2024 with a robust 77 percent increase in net profit for the fourth quarter (Q4), reaching Rs 2,015 crore. This impressive growth was driven by a significant rise in revenue, which climbed 19 percent year-over-year to Rs 6,897 crore in Q4 FY24.
Looking at the entire fiscal year, APSEZ’s performance remained consistently strong. Net profit for FY24 surged by 50 percent to Rs 8,104 crore compared to the previous year, while revenue grew by 28 percent to Rs 26,711 crore.
“FY24 has been a year of exceptional milestones for APSEZ,” said Ashwani Gupta, Whole-Time Director and CEO of APSEZ. He highlighted that the company surpassed its own guidance for cargo, revenue, and EBITDA by 6–8 percent. Additionally, APSEZ maintained a healthy net debt-to-EBITDA ratio of 2.3x, exceeding their initial target of 2.5x.
Gupta attributed this success to APSEZ’s strategic approach. The company’s business model emphasizes end-to-end services, fostering strong partnerships with key clients, leveraging its extensive port network, and prioritizing operational efficiency.
Throughout FY24, APSEZ actively expanded its infrastructure and service offerings. This included acquisitions of Gopalpur and Karaikal ports, solidifying their Indian presence at 15 ports. They also established a joint venture with MSC for the Ennore Container Terminal and secured financing for their Colombo terminal.
Furthermore, APSEZ bolstered its marine services by expanding their tug fleet to 111 vessels with contracts secured in Sri Lanka, Mexico, and Oman. They also strategically invested in rail rakes, logistics parks, agri-silos, warehousing space, and even launched a trucking business with 900 trucks to enhance customer connectivity.
Looking ahead, APSEZ is well-positioned for continued growth. They anticipate achieving cargo volumes of 460–480 million metric tons (MMT) in FY2025, fueled by the recent Gopalpur port acquisition, the upcoming commissioning of Vizhinjam and WCT ports, and ongoing investments in the logistics segment. Their newly launched trucking business promises to provide a comprehensive last-mile connectivity solution for customers.
APSEZ’s commitment to sustainable practices is reflected in their top-decile ESG ratings from four global rating agencies. With a strong financial performance and a clear vision for the future, APSEZ is poised to remain a major player in India’s cargo and logistics landscape.
