ADANIPORTS / Q3-FY24 / claim-ledger

Audit the questions that mattered.

Adani Ports · Analyst questions, management answers, and the quality of the response where the ledger is available.

Research layer active

ConCallIQ research layer

Signal, with the source still visible.

Use the controls below to narrow the view, then follow the evidence into the next layer of context.

PositiveQ3-FY24 · 2024-01-23Back to quarter ↗

Questions audited

Answered directly

58%

Numeric claims

Consistency

—

Question ledger

What was answered, and how?

Bharanidhar Vijayakumar · Avendus Spark

partial

Key drivers for cargo growth and outlook for next year.

I think, firstly, overall, driver is the, the economy. I think, we are seeing strong demand, across the board. Also, the second is a strong CapEx cycle that we are seeing. ... we expect the country to grow at 7%... anything between 6.5%-7% GDP growth.

Bharanidhar Vijayakumar · Avendus Spark

declined

Haifa Port revenue, EBITDA, and PAT numbers.

We are currently not reporting it. We're reporting it as, consolidated for our international operations, but at the time of full year results, we will give, more color around it.

Parash Jain · HSBC

partial

Capital structure and growth opportunities given strong cash generation.

I think we would continue to be around 2.5x net debt to EBITDA. ... you should consider 2.5x as the milestone that we would look at maintaining.

Asmeeta Sidhu · MetLife Investment Management

direct

Impact of Red Sea disruption on Haifa Port volumes.

From Haifa perspective, we've not seen major impact in terms of our volume. Our volumes have remained steady, and marginally increased, at Haifa.

Pulkit Patni · Goldman Sachs

evasive

Key targets and efficiency focus for the port company.

capital allocation is the key success factor in this industry. ... supply chain efficiency and effectiveness drives the business operations, whatsoever is the industry, auto or non-auto.

Pulkit Patni · Goldman Sachs

direct

Size of coastal coal shipping opportunity and plans.

we are looking at the volumes of about close to 5 million to begin with as far as coastal exports is concerned. ... Receipts will be in the range of about... upwards region of about 8-10 million tons.

Nikhil Nigania · Bernstein

direct

Impact of Red Sea on port volumes in January.

roughly, 10% of our total volume travels through Red Sea. So as of now, we've not seen any major drop. And we keep an eye on it, but so far in January, we've not seen any major drop.

Nikhil Nigania · Bernstein

partial

CapEx guidance for current year and next year.

For the current year, in the nine months, we have done close to INR 5,500 crore of CapEx. So you can assume that, for the full year, you can go on a pro rata basis, largely. For the next year, we will guide at the time of our full year results.

Achal Lohade · JM Financial

direct

Margins on coal cargo vs other cargo.

It's similar margins. Coal roughly gives us anywhere between 68%-72%, depending on port two.

Achal Lohade · JM Financial

direct

Market share and plans for rail logistics business.

Our present market share is 12% in the Exim business. ... our target is, we want to take up our rake count from roughly, which is today at 115. We want to take it up to 300 by FY 2028.

Atul Tiwari · Citigroup

partial

Capital return policy including buybacks.

We have dividend of 20%-25% of our PAT. So we will look to stick to that policy itself. ... We will figure out what is tax efficient, whether it is buyback or dividend, that we will see.

Priyankar Biswas · BNP Paribas

declined

EBITDA breakdown for logistics sub-segments.

we have been reporting consolidated numbers only for individual business segment-wise. So we'll continue with that stand for the time being. And probably next year, we'll analyze whether it is useful for us to give the sub-segment numbers.