Mundra Port becomes largest container port in India surpassing JNPT.

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Adani Ports and Special Economic Zone Limited
(“APSEZ”),the largest integrated logistics player in India,a part of globally diversified Adani
Grouptoday announced its operational and financial performance for thefirst quarter ended
30 th June, 2020.
Lockdown measures to tame the spread of COVID-19 resulted in lower Import and export,
impacting cargo throughput in first quarter of FY21.
There has been a steady increase in cargo throughput across Ports from July 2020.
During the month of July 2020, APSEZ handled cargo volume of 18.30 MMT, a growth
of 6% on year on year basis and 31% over June 2020. Thistrend gives us confidence
that worst is behind us and going forward cargo volume in FY21 is expected to
stabilize.
Financial Performance: -(Rs in cr.)
Particulars Q1FY21 Q1FY20
Cargo (MMT) 41.41 56.75
Consolidated Revenue 2293 2794
Consolidated EBITDA * 1438 1843
Consolidated EBITDA margin 63% 66%
Port Revenue 1,904 2,425
Port EBIDTA* 1,324 1,709
Port EBIDTA Margin 70% 70%
Forex mark to market – Loss/(Gain) (37) (3)
PBT 943 1362
PAT 758 1029
EPS (in Rs.) 3.73 4.94
*EBITDA excluding forex mark to market Gain and one-time Donation of Rs.80 cr.

Due to all India lockdown imposed from last week of March 2020,cargo throughput
witnessed a decline of 27% resulting in 18% decline in consolidated revenue.In-spite of
decline in cargo throughput, APSEZ was able to maintain Port EBIDTA margin at 70% due

to its strategy of diversifying cargo mix, ability to maintain realization and

reduce operating costs.
Shift from road to rail and increase in services enabled Adani Logistics to achieve a
revenue of Rs.200 cr. in Q1 FY21 vs Rs.181 cr. in Q1 FY20 a growth of 10% on a YoY
basis.
Operational performance and other important developments: –
 Mundra port becomes the largest container handling port in India by handling 0.97
mn TEUs in Q1 FY21 surpassing JNPT volume of 0.85 mn TEUs.
 As part of its cargo diversification plan APSEZ handled 2,46,000 tonnes of LPG and
3,74,000 tonnes LNG at Mundra Port during Q1 FY21.
 In Container, APSEZ handled 1.23 mn TEUs as against 3.22 mn TEUs handled at all
India level.
 We are progressing towards achieving east coast and west coast parity in terms of
distribution of assets and hinterland reach. In Q1 FY21 in terms of volume handled,
this is at 20%:80% against 17%:83% in Q1 FY20.
 In Logistics,Rail volume increased by 37% from 56,060 TEUs to 76,925 TEUs.
 ALL currently operates60 rakes and continues to be the largest private rail operator in
India.
 APSEZ is one amongst 43 Indian companies who have signed a commitment letter to
Science Based Targets initiative. The SBTi defines and promotes best practices in
science-based target setting and independently assesses companies’ targets.
 APSEZ has also signed commitment as a supporter to the Taskforce on Climate
Related Financial Disclosure (TCFD) which develops voluntary, consistent climate-
related financial risk disclosures for use by companies in providing information to
investors, lenders, insurers, and other stakeholders.
 Mr. P.S. Jayakumar appointed as an Independent director, with this, Independent
directors constitute 55.5% of the board.
 We have received approval from CCI on KrishnapatnamPort acquisition and expect it
to be completed in the current quarter.
 Snowman deal –Both the parties mutually agreed not to peruse the deal further. A
settlement agreement has been signed. ALL will continue to be a minority
shareholder.
Awards :
 Dahej Port received “International Safety Award, 2020” from British Safety Council,
London.

Mr. Karan Adani, Chief Executive Officer and Whole Time Director of
APSEZ said, “In first quarter of FY21, we were able to perform operationally at par with pre
COVID levels.We kept supply chain running and stood by our customers to proveas a
bankable service provider at all timesensuring stronger customer relationships and stickiness
in cargo.
During this period,we relooked at fundamentals of port operations andrealignedcosts,thus
maintaining Port EBIDTA margin of 70%.
With the worst behind us, we have emerged operationally stronger and resilient to
externalities. Our focus continues on further improving efficiencies,reducing costs and closing
out value accretive acquisitions namely Krishnapatnam Port and Dighi Port.
We are happy to inform that we have signed up with Science Based Targets initiative (SBTi)
and Task Force on climate related financial disclosure (TCFD) for reducing carbon emission
with a commitment to become carbon neutral by 2025.
We have diversified our board by inducting Mr. P.S. Jayakumar as an Independent
director,with this Independent director constitute 55.5% of the board.
The resilience in the business is a testimony of the team’s commitment to excel.”

About Adani Ports and Special Economic Zone
Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani
Group, is the largest integrated logistics player in India. In less than two decades, the
company has built a formidable presence in port infrastructure and logistics services.
APSEZ’s 11 strategically located ports and terminals — Mundra, Dahej, Kandla and Hazira
in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and
Kattupalli and Ennore in Chennai — represent 24% of the country's total port capacity,
handling vast amounts of cargo from both coastal areas and the vast hinterland. The
company is also developing a transhipment port at Vizhinjam, Kerala and a container
Terminal at Myanmar.

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