Q2 2025 Adani Ports and Special Economic Zone Ltd Earnings Call Transcript
Key Points
- Adani Ports & Special Economic Zone Ltd (BOM:532921) reported a 9% year-on-year increase in cargo volume to 220 million metric tons, showcasing strong operational performance.
- The company achieved significant financial growth with revenue, EBITDA, and PAC increasing by 6%, 13%, and 37% respectively in Q2 FY25.
- Adani Ports & Special Economic Zone Ltd (BOM:532921) received AAA ratings from four domestic rating agencies, highlighting its strong creditworthiness.
- The acquisition of Gopalpur Port and the planned commissioning of Vijinjam Port are expected to enhance the company's operational capacity and market presence.
- The logistics segment showed robust growth, with rail volumes increasing by 11% year-on-year, indicating successful strategic shifts from road to rail transport.
- The company faced disruptions in Gangavaram and Mundra due to inclement weather, impacting cargo volumes in these regions.
- Realizations for certain ports like Hazira and Dahej were reported to be down on a year-on-year basis, indicating potential pricing or volume challenges.
- The RINL steel plant, a significant contributor to Gangavaram's volumes, is facing a working capital crisis, affecting cargo throughput.
- Despite growth in logistics, margins in this segment have been lower compared to the previous year, suggesting cost pressures or competitive pricing.
- The SEZ and port development business reported lower revenues, raising questions about the consistency of income from lease rentals and development activities.
Ladies and Gentlemen, good day and welcome to the Adani Ports and SEZ's 2Q FY25 earnings conference call hosted by Nuvama Institutional Equities. The management is represented by Mr. Ashwani Gupta, Whole Time Director and CEO, Adani Ports and SEZ; Mr. Pranav Choudhary, CEO, Ports Business, Adani Ports and SEZ; Mr. Divij Taneja, CEO, Adani Logistics; Mr. D. Muthukumaran, CFO, Adani Ports and SEZ; Mr. Rahul Agarwal, Head of Investor Relations and ESG, Adani Ports and SEZ. (Operator Instructions)
I now hand the conference over to Mr. Achal Lohade from Nuvama Institutional Equities. Thank you and over to you Mr. Lohade.
Thank you. Good evening, everyone, and a very warm welcome to everyone. On behalf of Nuvama Institutional Equities, I am pleased to welcome you all to 2Q FY25 earnings call of Adani Ports and SEZ. We will begin with the opening remarks from the management followed by interactive Q&A session. With this, I hand over the call to Mr. Rahul Agarwal. Thank you over to you, Rahul.
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