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    HomeFinanceAPSEZ Experiences Prominent Outcomes for FY 2023, Foresees Robust Expansion in the...

    APSEZ Experiences Prominent Outcomes for FY 2023, Foresees Robust Expansion in the Future – Karan Adani

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    Adani Ports and Special Economic Zone (APSEZ) had a great year in FY23, breaking records for revenue and EBITDA. The CEO, Mr. Karan Adani, credited the success to the company’s focus on diversification and transition to a transport utility model. APSEZ made significant investments totaling around Rs 27,000 Cr, including six major acquisitions. These investments were mostly funded through internal accruals and existing cash reserves, resulting in a decline in the gross debt-to-fixed asset ratio. APSEZ achieved its highest-ever port cargo volumes of 339 MMT in FY23, with two of its ports ranking in the top 10 in India based on their annual cargo volumes. The company also set a benchmark for turnaround times for ships, contributing to the overall improvement in turnaround times for major ports in India.

    Operational Milestones:

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    APSEZ achieved its highest-ever port cargo volumes of 339 MMT in FY23, representing a noteworthy year-on-year growth of approximately 9%. Furthermore, the company handled 300 MMT of cargo in just 329 days, surpassing the previous record of 354 days in FY22. Two of APSEZ’s ports, Mundra and Krishnapatnam, secured positions among the top 10 ports in India based on their annual cargo volumes. Mundra remains the largest commercial port in India, handling 155 MMT of cargo (achieved in a record 355 days compared to 365 days in FY22) and maintaining its status as the leading container handling port with 6.64 Mn TEUs in FY23 (10% higher than its closest competitor). The logistics rail volumes crossed the significant milestone of 500,000 TEUs during the year, while GPWIS cargo volumes experienced a remarkable year-on-year growth of 63%, reaching 14.35 MMT. Mundra and Krishnapatnam Ports witnessed the arrival of the largest ships, and seven ports/terminals managed the largest parcel size vessels of their lifetime in FY23.

    Transformation of India’s Port Sector:

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    APSEZ has set a benchmark for other Indian ports by achieving industry-leading average turnaround times (TAT) for ships, currently standing at approximately 0.7 days. This accomplishment has contributed to the overall improvement in TAT for major ports, reducing it from approximately 5 days in 2011 to approximately 2 days at present.

    Record Investments during the Year:

    APSEZ successfully completed six acquisitions (Haifa Port Company, Gangavaram Port, Karaikal Port, IOTL, Ocean Sparkle, and ICD Tumb) in FY23, amounting to an investment of approximately Rs 18,000 Cr. The total capital expenditure during the year reached around Rs 9,000 Cr. Despite these significant investments, APSEZ managed to maintain a net debt-to-EBITDA ratio.

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    Rajesh M
    Rajesh M
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