Adani Ports & Special Economic Zone Ltd · NSE:ADANIPORTS
Adani Ports & Special Economic Zone — Shareholder Meeting (August 2023)
32 slides from Adani Ports & Special Economic Zone's shareholder meeting presentation, Aug 8, 2023
Slide 1: Adani Ports and SEZ Limited 24th Annual General Meeting
Adani Ports and SEZ Limited 24th Annual General Meeting 08 August 2023 Presented by : Mr. Karan Adani – CEO & Whole Time Director
Slide 2: Contents
Contents A Group Profile B Company Profile C Growth Journey of APSEZ D Strategic, Operational, Financial & ESG Highlights of FY23 E Value Creation 2
Slide 3: Group Profile
adani Ports and Logistics Group Profile
Slide 4: Adani Portfolio: A World class infrastructure & utility portfolio
Adani Portfolio: A World class infrastructure & utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (67.7%) (56.3%) (68.3%) (62.9%) (100%) (63.2%) AGEL AESL APSE
Slide 5: Adani Portfolio: Decades long track record of industry best growth with national footprint
Adani Portfolio: Decades long track record of industry best growth with national footprint Secular growth with world leading efficiency National footprint with deep coverage Growth 3x Growth 4x EBITDA 70% 1,2 EBITDA 92% 1,4 AEL Growth 3x Growth 1.4x APSEZ AGEL ATGL EBITDA 91% 1,3,5 EBITDA 19% 1,3 Ad
Slide 6: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Center of Excellence Project Management & Assurance Group AIMSL* Policy -Strategy - Risk Origination Site Development Construction Operation Capital Mgmt Activity • Analysis &
Slide 7: Company Profile
adani Ports and Logistics Company Profile
Slide 8: APSEZ: Transformational Business Model
APSEZ: Transformational Business Model Ports SEZ Logistics • National footprint with 14 ports • Large scale ‘ready to setup’ industrial • Largest integrated logistics player in across country’s coastline, & 2 ports land (SEZ) India Development outside India • Land Bank of 12,000 ha. at Mundra, • Rai
Slide 9: A transport utility with string of ports and integrated logistics network
APSEZ: A transport utility with string of ports and integrated logistics network West Coast East Coast Capacity Capacity ~355 MMT ~247 MMT One to fourteen in Dahej Moga two decades 16 Kotkapura Kanech MMT Kilaraipur Kaithal Panipat Tuna Tauru Dhamora 14 Patli & Palwal Kannauj Samastipur & MMT Kishan
Slide 10: Logistics to provide growth impetus & help reaching customer's gate
APSEZ: Logistics to provide growth impetus & help reaching customer's gate Trains MMLPs Grain Silos Ware-housing Rail Tracks Marine Flotila* Assets 58 5 0.88 0.4 mn 540 26 FY20 Trains MMLP MMT Sq. ft. KMs 93 9 1.1 1.6 mn 620 FY23 110 Trains MMLP MMT Sq. ft. KMs 2.2X 1.5X 2.5X 38X 3X 1.1X 200+Trains
Slide 11: Digital platform ITUP - building end-to-end connectivity
APSEZ: Digital platform ITUP - building end-to-end connectivity • Separate modules for Marine, Bulk (liquid, and dry) and Container cargo • With end-to-end connectivity, the platform to measure productivity of activities and record deviations in real-time • Marketplace for customers and suppliers, w
Slide 12: Growth Journey
adani Ports and Logistics Growth Journey
Slide 13: Changing the landscape of India's port sector
APSEZ: Changing the landscape of India’s port sector Average Turnaround Time (days) for Ships 3.5 3.0 2.5 2.0 1.5 1.0 0.5 - FY18 FY19 FY20 FY21 FY22* FY23** Major Ports APSEZ • APSEZ has been driving transformation of India’s port sector by establishing new operational benchmarks; currently, our ave
Slide 14: Long term growth way ahead of the industry
APSEZ: Long term growth way ahead of the industry All India Cargo Throughput All India and APSEZ Cargo Volumes 1,500 1,433 1,400 Cargo Volumes (MMT) 1,300 1,433 1,208 1,500 1,200 1,350 1,100 1,200 1,000 934 1,050 900 900 934 FY13 FY18 FY23 750 All India Cargo (MMT) 600 450 383 337 400 337 300 91 300
Slide 15: Geographical & cargo diversification to mitigate business risks
APSEZ: Geographical & cargo diversification to mitigate business risks East Coast – West Coast Parity Cargo Diversification 16% 39% 337 FY18 FY23 MMT FY13 61% 84% 100% 38% 180 West East West East West East MMT Growing share of non Mundra Cargo 91 MMT 9% 32% 28% 54% Non Mundra ports volume CAGR 36% 9
Slide 16: Strategic partnerships and asset profile ensures stickiness in cargo
APSEZ: Strategic partnerships and asset profile ensures stickiness in cargo Strategic Partnerships Sticky Cargo Year Company Name Partner & Stake 56% 339 54% Adani International 312 MSC 49% 2011 Container (50%) Terminal Pvt Ltd 247 Adani CMA Mundra CMA-CGM 2014 Terminal 183 (50%) Pvt Ltd 155 138 Dha
Slide 17: Growth fueled through organic and inorganic investments
APSEZ: Growth fueled through organic and inorganic investments All India and APSEZ Cargo Volumes Top 10 ports of India FY05 FY13 FY23 Market Share of APSEZ (%) Vizag Kandla Mundra 25% 24% Chennai Mundra Kandla 20% Kandla Vizag Paradip 15% Haldia JNPT Sikka 10% Mumbai Chennai JNPA 10% Mangalore Parad
Slide 18: Strong cashflow generation
APSEZ: Strong cashflow generation Revenue from operations (Rs Cr) EBITDA (Rs Cr) Net Cash Generated from Operations (Rs Cr) 25,000 14,000 12,833 14,000 20,852 11,933 12,000 12,000 20,000 10,000 10,000 15,000 8,000 7,145 8,000 11,323 5,608 10,000 6,000 6,000 4,000 4,000 5,000 3,577 2,383 2,000 2,000
Slide 19: EBITDA margin expansion across both ports and logistics business
APSEZ: EBITDA margin expansion across both ports and logistics business Ports EBITDA (Rs Cr) Logistics EBITDA (Rs Cr) 14,000 600 12,039 12,000 487 500 10,000 400 8,000 6,000 5,144 300 4,000 200 1,865 76 2,000 100 - - FY13 FY18 FY23 FY18 FY23 Ports EBITDA Margin % Logistics EBITDA Margin % 70% 30% 28
Slide 20: Strategic, Operational, Financial & ESG Highlights of FY23
Strategic, Operational, Financial & ESG Highlights of FY23
Slide 21: FY23 highlights of the ports business
APSEZ: FY23 highlights of the ports business • Five key acquisitions/stake purchases – 1) Haifa Port Company, 2) Indian Oiltanking Limited (IOTL) 3) Gangavaram Port, 4) Ocean Sparkle Ltd, and 5) Karaikal Port • Two bids won - 1) mechanization of Berth 2 at Haldia Port and 2) greenfield construction
Slide 22: FY23 highlights of the ports business (YoY)
APSEZ: FY23 highlights of the ports business (YoY) FY22 FY23 APSEZ Cargo volume East Coast Volume* Non Mundra Volume* 9% 12% 12% 312.39 339.20 117.99 131.70 162.16 181.19 MMT MMT MMT MMT MMT MMT ASPEZ Container volume West Coast Volume* Mundra Volume* 7% 5% 3% 8.20 mn 8.76 mn 194.40 204.88 150.24 15
Slide 23: FY23 highlights of the logistics business
APSEZ: FY23 highlights of the logistics business • Acquired ICD Tumb, one of the largest ICDs with a capacity of 0.5 Mn TEUs • Three bids won – 1) 70 Agri Silos with capacity of 2.8 MMT 2) Loni ICD 3) Valvada ICD • Three MMLPs were commissioned (including ICD Tumb) taking the total count of MMLPs to
Slide 24: FY23 financial highlights
APSEZ: FY23 financial highlights (in INR Cr) (YoY) FY22 FY23 Operating Revenue PBT* Capex 22% 10% 39% 17,119 20,852 6.122 6,763 3,814 9,125 Operating EBITDA^# PAT Funds from Operations 21% 9% 24% 10,607 12,833 4,953 5,393 8,920 11,090 The Board has recommended a dividend of Rs.5 per share ^EBITDA ex
Slide 25: FY23 leverage ratios within the guided range
APSEZ: FY23 leverage ratios within the guided range (YoY, in INR Cr) Gross Debt, Net Debt & Average Maturity Rating Ratios* 7.0 49,819 45,453 25% 23% 24% 6.0 39,989 22% 5.5 21% 34,401 18% 31,666 28,472 5.7 5.1 4.5 FY 21 FY22 FY23 Mar'2021 Mar'2022 Mar'2023 FFO / Gross Debt (13% - 15%) FFO / Net Debt
Slide 26: FY23 ESG performance highlights
APSEZ: FY23 ESG performance highlights Indicator FY25 Target FY23 Energy & Emission RE share in total electricity# 14% Energy intensity reduction* 93% 100% Energy intensity reduction* 50% 46% Emission intensity reduction* 76% Emission intensity reduction* 60% 47% Water consumption intensity Water an
Slide 27: FY23 ESG ratings
APSEZ: FY23 ESG ratings • Moody’s • APSEZ ranked 1st in the Transport & Logistics sector globally across all the Emerging Markets for its ESG performance in 2022 by Moody’s • APSEZ ranked 1st among 59 Indian companies and 9th among 844 companies globally across sectors in Emerging Markets for their
Slide 28: Immense Value Creation
dani Ports and Logistics Immense Value Creation
Slide 29: Value creation ahead of Indices
APSEZ: Value creation ahead of Indices APSEZ NIFTY 50 ₹ 700 ₹ 20,000 ₹ 600 ₹ 18,000 ₹ 500 ₹ 16,000 ₹ 14,000 ₹ 400 151% 102% ₹ 12,000 ₹ 300 ₹ 10,000 ₹ 8,000 ₹ 200 ₹ 6,000 ₹ 100 ₹ 4,000 ₹- ₹ 2,000 Mar-20 Mar-23 ₹- Mar-20 Mar-23 S&P BSE India Infrastructure Fund BSE SENSEX ₹ 300 ₹ 70,000 ₹ 250 144% ₹ 6
Slide 30: Value creation to continue
APSEZ: Value creation to continue FY20 FY23 FY25 Revenue 1.8x ~1.4x Another ~45% growth 119 209 300 (INR bn) from 2023 levels EBITDA 1.7x ~1.5x To increase by ~50% 76 128 187 from 2023levels (INR bn) With improved asset ROCE at Major utilization & maturing of 15% 16% ~20% APSEZ Ports assets ROCE at
Slide 31: Thank You
adani Ports and Logistics Thank You
Slide 32: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Ports and Special Economic Zone Limited (“APSEZL”),the future outlook and grow
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