Adani Ports and Special Economic Zone Limited (APSEZ), the largest transport utility in India and a part of the diversified Adani Group, has published its financial and operational results for the first half of the Fiscal Year 2022 (1 April 2021 – 31 March 2022), highlighting significant increases in cargo volumes and total revenue.
Adani Ports handled 144 million metric tonnes (MMT) of cargo during the first six months of FY22, registering a year-on-year growth of 47%. The growth in cargo throughput was principally led by dry cargo which rose by 59% and containers which increased by 42% over the same period of the previous fiscal year.
APSEZ handled 4.11 million TEU out of 9.67 million TEU handled at all India levels, and highlighted a year-on-year growth of 42%, against 30% at all India levels. Meanwhile, during FY22’s first half, Mundra port continued to be the largest container handling port, totalling 3.2 million TEU.
Furthermore, Adani Logistics, the largest and most diversified private rail operator in India, registered a 23% growth in rail volume, surpassing 179,000 TEU and a 17% growth in terminal volume, handling more than 134,000 TEU.
Regarding the financial results of the Indian company during the first six months of FY 2022, consolidated revenue grew by 56% in comparison to the same period of the previous FY to US$1.08 billion (Rs.8,089 Cr).
At the same time, port revenue at APSEZ reached US$847.5 million (Rs. 6,347 Cr), reflecting a rise of 46% over the H1 of 2021′ fiscal year.
In addition, the company’s consolidated Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) during the first six months of FY22 grew by 47% year-on-year, exceeding US$644.4 million (Rs.4,826 Cr).
Meanwhile, Port EBITDA totalled US$595.3 million (Rs.4,458 Cr), which translates to an increase of 47% compared to the first half of the previous FY, mainly driven by the increases in cargo volumes.
Last but not least, Adani Ports’ free cash flow from operations, after adjusting for working capital changes, Capex, and net interest cost, completed US$340.5 million (Rs.2,550 Cr).
