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Revenue
₹6,896 Cr
verified against source
Revenue YoY
28%
reported change
EBITDA
₹15,864 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Adani Ports delivered a strong FY24 with revenue of INR 26,711 crore (+28% YoY) and PAT of INR 8,104 crore (+50% YoY), driven by cargo volume growth of 24% to 420 MMT. Domestic ports EBITDA margin expanded 150 bps to 71%. Management guided FY25 cargo volumes of 460-480 MMT, revenue of INR 29,000-31,000 crore, and EBITDA of INR 17,000-18,000 crore. CapEx is set to increase to INR 10,500-11,500 crore, focused on port expansions, logistics, and renewable energy. Key risks include potential Red Sea disruptions and the ongoing qualified audit opinion related to SEBI investigations.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects cargo volumes to increase to 460-480 million metric tons in FY25, implying 10-14% YoY growth.
- Revenue from operations is expected to be in the range of INR 29,000-31,000 crore for FY25.
- EBITDA is expected to be between INR 17,000-18,000 crore for FY25.
- Capital expenditure is planned at INR 10,500-11,500 crore, with INR 7,300 crore for ports, INR 2,300 crore for logistics, INR 1,500 crore for renewable energy, and INR 400 crore for marine services.
Risks flagged
- An analyst raised concerns about potential volume slippage due to Red Sea issues, but management stated they are covering risks with opportunities and saw 12% growth in April.
- The audit opinion remains qualified due to ongoing SEBI investigations. Management expects it to drop once SEBI concludes, but no timeline was given.
- Logistics segment saw muted Q4 growth and margin compression due to expiry of agri silo contracts, though management attributed it to a one-off.
- CapEx is set to increase significantly to INR 10,500-11,500 crore, which could pressure leverage if returns are delayed.
Key quotes
- We are not facing any challenge which should impact our growth. And whatever risk we have, we are covering it with additional opportunities.
- The qualification is continuing. It's only a matter of time before the qualification should get dropped.
- We are always open for the opportunity if it is driven either by the business need or by the business potential.
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