Tag : ITDA

New Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced its results for the fourth quarter and year ended March 31, 2023. "FY23 has been a stellar year for APSEZ in operational as well as financial performance. The company has overachieved against its highest-ever revenue and EBITDA guidance provided at the beginning of the year. Our strategy of geographical diversification, cargo mix diversification, and business model transition to a transport utility is enabling robust growth," Karan Adani, CEO and Whole Time Director of Adani Ports and Special Economic Zone, said. Over the last 5 years, APSEZ's revenue and EBITDA have grown at a CAGR of 16-18 per cent, while the company's domestic market share jumped 800bps to 24 per cent in FY23. APSEZ did record investments of around Rs 27,000 crore in FY23, which includes six major acquisitions totalling around Rs 18,000 crore and organic capex of around Rs 9,000 crore. These investments were primarily financed through internal accruals and the cash and cash equivalents held with the company. As a result, gross debt to fixed asset ratio has declined sharply from 80 per cent in FY19 to around 60 per cent in FY23. The investments made along with the five bid wins during the year, will enable APSEZ to achieve its targeted cargo volumes of 500 MMT in 2025 and speed up the transition of the business model to a transport utility, Karan Adani added. With industry leading average turnaround time (TAT) for ships at 0.7 days, APSEZ has been a benchmark for other Indian ports and have driven the improvement in the TAT of major ports from 5 days in 2011 to 2 days currently. APSEZ completed six acquisitions (Haifa Port Company, Gangavaram Port, Karaikal Port, IOTL, Ocean Sparkle ...