In-line performance; outlook remains bright

03 May 2024
5 Min read 
  • Adani Ports & SEZ reported a revenue growth of 19% YoY to INR68.9b in 4QFY24.
  •  EBITDA margin came in at 58.6% in 4QFY24 vs. the estimate of 59.4%.
  •  APSEZ handled 420 MMT of cargo volume in FY24, surpassing the revised cargo volume guidance.
  •  The company achieved a net debt-to-EBITDA ratio of 2.3x vs. 3.1x in Mar23 through debt reduction.
  •  APSEZ is expected to record 2-3x of India's cargo volume growth, driven by a balanced port mix.
  •  The logistics business will serve as a value addition to the domestic ports business.
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