Adani Ports & Special Economic Zone Ltd · NSE:ADANIPORTS
Adani Ports & Special Economic Zone — H1 FY20 Earnings Presentation
53 slides from Adani Ports & Special Economic Zone's earnings presentation, October 2019
Slide 1: Operational and Financial Highlights H1 and Q2 FY20
Adani Ports and SEZ Limited Operational and Financial Highlights H1 and Q2 FY20
Slide 2: Contents
Contents + Company Profile + Operational Highlights + Financial Highlights + FY 20 Outlook + ESG & CSR + Annexures 2 2
Slide 3: APSEZ's Throughput Curve: 208 MMT in FY19 to 400 MMT by FY25
APSEZ’s Throughput Curve 208 MMT in FY 19 to 400 MMT by FY 25 12% 3 3
Slide 4: Company Profile
Company Profile adani pe 4
Slide 5: APSEZ – Proxy to India's Growth Story
APSEZ – Proxy to India’s Growth Story in USD Bn. Largest Commercial Port in India : 10.8 • 9 Ports in operation and 2 under construction Market Cap. (2) 5.3 2019 2.5 2013 Professional Management : • Operating ports since 2001 2009 1.6 Operational Excellence with Low- 0.6 Cost : Revenue (3) 2019 • Hi
Slide 6: APSEZ – India's Largest Integrated Ports & Logistics Player
APSEZ – India’s Largest Integrated Ports & Logistics Player “String of Ten Ports” across India’s Coastline with four logistics parks Market Share in India* Mundra : India’s Multipurpose ports Kilaraipur largest Kanech Total Cargo Bulk terminals Commercial Port Mundra : India’s Kilaraipur Container t
Slide 7: APSEZ – Unique and Integrated Business Model
APSEZ – Unique and Integrated Business Model Ports Logistics SEZ (at Mundra) Total installed capacity of 395 mmtpa 20 year license to operate rails, GPWIS(1) and Land bank of over 8,481 hectares Concession assets with free pricing AFTO(2) Integration with port, developing industry Enhanc
Slide 8: Operational Highlights
Operational Highlights 8 8
Slide 9: APSEZ – Operational Highlights H1 FY20
APSEZ – Operational Highlights H1 FY 20 (YoY) Operational Highlights • Cargo volume of 109 MMT, 9% Growth • Cargo growth across all the three regions in India • Container volume grew by 10% • Dhamra port volume grew by 46% and Kattupalli volume grew by 17% • Cargo mix continues to be balanced- Coal
Slide 10: APSEZ – Operational Highlights H1 FY20
APSEZ – Operational Highlights H1 FY 20 (YoY) Acquisitions • Acquisition of Innovative B2B Logistics completed ESG Initiatives • Mr. Bharath Sheth inducted as an independent director • Continued focus on efficient use of water and energy from cleaner sources. Reduction in • emission levels. On stand
Slide 11: APSEZ – Financial Performance Highlights H1 FY20
APSEZ – Financial Performance Highlights H1 FY20 (YoY) P & L Highlights • Total Revenue Rs.5,616 cr. against Rs.5,019 cr. a growth of 12% • Port Revenue Rs.4,787 cr against Rs.4,240 cr. a growth of 13% • Total EBITDA Rs.3,634 cr. against Rs.3,292 cr. a growth of 10% • Port EBITDA Rs.3,358 cr against
Slide 12: Cargo Comparison – APSEZ vs All India Ports – H1 FY20
Cargo Comparison – APSEZ vs All India Ports – H1 FY 20 APSEZ Total Throughput * All India Ports Total Cargo 9% Growth 109 5% Growth 506 482 100 Vs H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 Of which Container All India Container Volume 10% Growth 7% Growth 45 130 122 41 Vs H1 FY 19 H1 FY 20 H1 FY 19 H1 FY
Slide 13: Cargo Composition – H1 FY20
Cargo Composition – H1 FY 20 Coal Container Crude Others 47% 41% 41% 41% 37% 41% 32% 36% 29% 33% 33% 32% 17% 14% 15% 15% 15% 14% 12% 12% 13% 10% 11% 10% FY15 FY 16 FY 17 FY 18 FY 19 FY 20 H1 Balanced Cargo Mix……… 13 13
Slide 14: Financial Highlights H1 FY20
Financial Highlights H1 FY 20 14 14
Slide 15: Consolidated Financial Performance – H1 FY20
Consolidated Financial Performance – H1 FY 20 (YoY - Rs. in cr.) Revenue EBIDTA* 5616 3634 Revenue grew by 12% 5019 3292 EBITDA* grew by 10% H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 PBT PAT 2248 2055 PBT grew by 31% 1722 1296 PAT grew by 58% H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 *EBIDTA excludes forex mark
Slide 16: Segment Wise Revenue H1 FY20
Segment Wise Revenue H1 FY 20 (YoY - Rs. in cr.) H1 FY 19 H1 FY 20 Total Revenue up 12% Australia, Australia, 213 244 Logistics, 307 Logistics, Other Other revenue, 438 revenue, 96 119 SEZ, 163 SEZ, 28 Ports Revenue up 13% Ports, 4,240 Ports, 4,787 Logistics Revenue up 43% Ports SEZ Logistics Austra
Slide 17: EBIDTA – Segment Wise Break up H1 FY20
EBIDTA* - Segment Wise Break up H1 FY 20 (YoY - Rs. in cr.) H1 FY 19 H1 FY 20 Total EBIDTA up 10% Australia, 12 Other revenue, 96 Logistics, 127 Australia, 22 Logistics, 47 100 SEZ, 28 Ports EBIDTA up 13% SEZ, 163 Logistics EBIDTA 2975 3358 up 172% Ports SEZ Logistics Australia Other revenue Total E
Slide 18: Debt Profile & Key Rating Ratios – H1 FY20
Debt Profile & Key Rating Ratios – H1 FY 20 (Rs. in cr.) Description FY19 H1 FY20 Variance Long Term Borrowings 19,884 26,182 6,298 Change in borrowings due to : Short Term Borrowings 6,188 4,762 (1,426) USD 750 mn bond issuance Current Portion of Long Term Borrowings 1,116 318 (798) Restateme
Slide 19: Key Ports & Logistic Vertical Performance H1 FY20
Key Ports & Logistic Vertical Performance H1 FY 20 (Rs. In Cr.) Mundra Hazira Dahej Dhamra Kattupalli Harbour Particulars H1-19-20 H1-18-19 H1-19-20 H1-18-19 H1-19-20 H1-18-19 H1-19-20 H1-18-19 H1-19-20 H1-18-19 H1-19-20 H1-18-19 Cargo (MMT) 70 67 11 10 3 4 13 9 5 4 Operating Revenue 2,359 2,285 631
Slide 20: FY20 Outlook
FY 20 Outlook 20 20
Slide 21: APSEZ – Business Strategy – FY20
APSEZ – Business Strategy – FY 20 Strategy for Business (4 Cs) Top Priorities Culture- Efficiency Improvement: 1. Placing customer centricity as Enhancing and sustaining business key pillar to drive profitability through improvement in asset and revenue. utilization, focus on collaborative 2. Enhanc
Slide 22: Cargo volume outlook FY20: Range 224-228 MMT
Cargo volume outlook FY20 : Range 224-228 MMT Segment wise incremental growth: APSEZ Cargo Volumes 3-4 2-3 1-3 224-228 109* 218 221 223 109 109 H1 FY 20 H2 FY20 INCREMENTAL INCREMENTAL INCREMENTAL FY20 COAL CRUDE OTHERS Incremental volume from: • Coal at Mundra & Dhamra - APL,CGPL, AEL, TATA Steel a
Slide 23: Financial Outlook – FY20
Financial Outlook – FY20 • Revenue growth of 11%-13%. Revenue Port Revenue & • Realization to grow 1.5% to 2% per MT EBIDTA • Port Revenue growth by 12%-14% • SEZ Income of Rs.800 to Rs.1000 cr. SEZ & Port (Rs.600 to 800 cr. of Port Development and Development Rs.150 cr. to Rs.200 cr. of Lease incom
Slide 24: Environment Social & Governance (ESG)
Focus Areas • Efficient use of water and energy from cleaner sources • Reduction of emission levels • Zero tolerance for fatalities at ports Environment Social & Governance (ESG) 24 24
Slide 25: APSEZ – Energy Performance
APSEZ – Energy Performance Energy (GJ) Energy Intensity (GJ/MMT) Energy (GJ) Energy Intensity (GJ/MMT) 1000000 10000 500000 10000 450000 8940 9000 900000 8579 8757 9000 400000 8046 8000 800000 8000 350000 7000 700000 9% 7000 5783 600000 6000 5712 300000 6000 5648 500000 5403 5000 250000 5000 200000
Slide 26: APSEZ – Emission Performance
APSEZ – Emission Performance GHG Emission (tCO2e) GHG Emission (tCO2e) 160000 1600 Emission Intensity (tCO2e/MMT) 70000 Emission Intensity (tCO2e/MMT) 1600 140000 1400 1345 60000 1379 1400 1293 120000 1200 1248 1200 50000 100000 1000 940 879 1000 40000 958 930 80000 800 800 30000 60000 600 600 11%
Slide 27: APSEZ – Water Performance
APSEZ – Water Performance Water Consumption (ML) Water Consumption (ML) 1000 Water Intensity (ML/MMT) 25 Water Intensity (ML/MMT) 3000 30 900 27 20 800 20 2500 25 700 15 2000 20 600 15 500 17 12 1500 15 400 10 10 2% 24% 1000 11 12 74% 10 300 200 5 2% 1563 2712 6% 230 495 941 467 500 5 227 757 1
Slide 28: APSEZ – Safety Performance
APSEZ – Safety Performance Overall Safety Performance (On Roll + Contractual + Third Party Associates) 3.5 0.12 3 0.10 0.10 0.10 0.10 We lost two third-party associates in unfortunate 2.5 0.08 events at Mundra Port. 2 0.06 1.5 0.05 0.05 In the first incident, 0.04 1 0.5 0 1 3 1 3 2 0.02 person v
Slide 29: Corporate Social Responsibility – Major Initiatives
Corporate Social Responsibility – Major Initiatives 1) SAKSHAM: Aims to make 3 lakh Indian youth skilled by 2022. ASDC has more than 30 centres across the nation for facilitating skill development through various courses. 5027 aspirants enrolled under various ASDC courses and new projects. 2) Udaa
Slide 30: Corporate Social Responsibility – Adani Foundation
Corporate Social Responsibility – Adani Foundation Adani Foundation organized Swachhagraha Adani Foundation received Gold in the Apex India CSR Felicitation and Handing over ceremony Program at all Innovation Award, for transforming lives of fisher folk Ports. The best Swachhagraha Schools, Preraks
Slide 31: Corporate Social Responsibility – Adani Foundation
Corporate Social Responsibility – Adani Foundation Adani Skill Development Centre (ASDC) received CSR Times Award for the Vizmart, a supermarket set up by the women entrepreneurs supported by ‘Best Corporate Foundation’ in recognition of the excellent work done in Adani Foundation, was inaugurated i
Slide 32: Corporate Social Responsibility – Adani Foundation
Corporate Social Responsibility – Adani Foundation • Adani Foundation supported Kovalam FC to train and develop quality football players. Adani Foundation provided jerseys, football and training equipment to the team. Hon’ble MP of Thiruvanthapuram Dr. Shashi Tharoor inaugurated the programme. • Ada
Slide 33: Annexures
mB. =) i ¥ittuecmliecs Annexures 33
Slide 34: Annexures
Annexures + Consolidated Financial Performance Q2 FY20 + Segment Financials Q2 FY20 + Port Wise Cargo Volume & Financials Q2 FY20 + Financial Results as per SEBI format + Port Wise Cargo Break up 34 34
Slide 35: Cargo Comparison – APSEZ vs All India Ports – Q2 FY20
Cargo Comparison – APSEZ vs All India Ports – Q2 FY 20 APSEZ Total Throughput * All India Ports Total Cargo 1% Growth 3% Growth 250 53 243 52 Vs Q2 FY 19 Q2 FY 20 Q2 FY 19 Q2 FY 20 * Of which Containers All India Container Volume 12% Growth 6% Growth 66 23 62 21 Vs Q2 FY 19 Q2 FY 20 Q2 FY 19 Q2 FY 2
Slide 36: Financial Highlights Q2 FY20
Financial Highlights Q2 FY20 36 36
Slide 37: Consolidated Financial Performance – Q2 FY20
Consolidated Financial Performance – Q2 FY 20 (YoY - Rs. in cr.) Revenue EBIDTA* 2821 1791 2608 1703 Revenue grew by 8% EBITDA* grew by 5% Q2 FY 19 Q2 FY 20 Q2 FY 19 Q2 FY 20 PBT PAT PBT grew by 11% 1043 886 800 606 PAT grew by 72% Q2 FY 19 Q2 FY 20 Q2 FY 19 Q2 FY 20 Excludes forex loss of 480 cr. I
Slide 38: Segment Wise Revenue Q2 FY20
Segment Wise Revenue Q2 FY 20 (YoY - Rs. in cr.) Q2 FY 19 Q2 FY 20 Australia, 111 Other revenue, Total Revenue up 8% 49 Australia, Other Logistics, 145 Logistics, 127 revenue, 61 256 SEZ, 29 SEZ, 15 Ports SEZ Logistics Ports Revenue up 4% Australia Other revenue Ports, 2,275 Ports, 2,362 Total Reven
Slide 39: EBIDTA – Segment Wise Break up Q2 FY20
EBIDTA* - Segment Wise Break up Q2 FY 20 (YoY - Rs. in cr.) Q2 FY 19 Q2 FY 20 Australia, 14 Total EBITDA up 5% Australia, 5 Other revenue, Logistics, 72 42 49 Logistics, 26 SEZ, 29 Ports SEZ, 15 SEZ Logistics Ports EBITDA up 3% Australia Other revenue 1595 1649 Total EBIDTA – Rs. 1,703 cr Total EBID
Slide 40: Port Wise Cargo Volume & Financials
Port Wise Cargo Volume & Financials 40 40
Slide 41: Mundra Port: H1 and Q2 FY20
Mundra Port: H1 and Q2 FY20 (YoY - Rs. in cr.) Volume (MMT) • H1 cargo volume growth up by 5%. 67 70 • T2 container terminal with an initial capacity of 0.5 mn. TEUs operationalized. 35 33 • LPG operations at Mundra commenced in Oct ‘19 (3.2 MMT Capacity) • Coal Volume up by 13% in Q2 H1 H1 FY20. FY
Slide 42: Hazira Port: H1 and Q2 FY20
Hazira Port : H1 and Q2 FY20 (YoY - Rs. in cr.) Volume (MMT) • Cargo volume in H1 grew by 7%. 11 10 • Additional liquid tank farm capacity operationalized (26,000 KL). 5 5 • Liquid volume grew by 23% in H1 FY20 • Other bulk excluding coal grew by 13% in H1 FY20 Q2 H1 • EBITDA margins in H1 improved
Slide 43: Dahej Port: H1 and Q2 FY20
Dahej Port : H1 and Q2 FY20 (YoY - Rs. in cr.) Volume (MMT) 4 • Cargo volume in H1 decline due to shift of cargo to Hazira. 3 • The port has entered into a medium 2 term contract to handle coal for a 2 cement company. Q2 H1 FY19 FY20 Revenue EBIDTA 132 196 102 166 69 100 82 49 Double click on the Ic
Slide 44: Dhamra: H1 and Q2 FY20
Dhamra : H1 and Q2 FY20 (YoY - Rs. in cr.) Volume (MMT) 13 • Cargo volume in H1 grew by 46%. • ALL is currently operating 6 rakes 9 under GPWIS. 7 • The port started handling project 5 cargo and steel billets. • EBITDA margins in H1 improved to 63% due to higher volume Q2 H1 handled. FY19 FY20 Reven
Slide 45: Kattupalli: H1 and Q2 FY20
Kattupalli : H1 and Q2 FY20 (YoY - Rs. in cr.) Volume (MMT) 5 • Cargo volume in H1 grew by 17%. 4 • Container volume grew by 13%. 3 2 • Port handled record number of container (60,800 boxes in the month of July). • Liquid terminal operations Q2 H1 commenced (total capacity FY19 FY20 60,000 KL). Reve
Slide 46: Terminals at Major Ports – H1 and Q2 FY20
Terminals at Major Ports- H1 and Q2 FY20 (YoY - Rs. in cr.) Volume (MMT) • Cargo volume at these Terminals in H1 grew by 28%. This was on 3.04 account of increased coal volume at Tuna, Vizag and container 2.78 1.35 volume at Ennore. 1.03 0.56 1.94 • In H1 Ennore handled 70,000 1.28 0.71 2.40 boxes.
Slide 47: Adani Logistics and Harbour Services
Adani Logistics and Harbour Services (YoY - Rs. in cr.) Harbour Services Revenue EBIDTA 655 722 580 634 Harbour services continue 348 340 387 310 to generate EBITDA in the range of 90% to 92% Q2 H1 Q2 H1 FY 19 FY 20 FY 19 FY 20 Adani Logistics ALL terminal volume continue to grow on Revenue EBIDTA a
Slide 48: Key Ports & Logistic Vertical Performance Q2 FY20
Key Ports & Logistic Vertical Performance Q2 FY 20 (Rs. In Cr.) Mundra Hazira Dahej Dhamra Kattupalli Harbour Particulars Q2'20 Q2'19 Q2'20 Q2'19 Q2'20 Q2'19 Q2'20 Q2'19 Q2'20 Q2'19 Q2'20 Q2'19 Cargo (MMT) 33 35 5 5 2 2 7 5 3 2 Operating Revenue 1,084 1,203 332 290 82 100 367 220 73 64 387 340 Expen
Slide 49: Consolidated Financial Performance – SEBI Format
Consolidated Financial Performance – SEBI Format (Rs. In cr.) Quarter Ended Half Year Ended Year Ended Sr September 30, June 30, September 30, September 30, September 30, March 31, Particulars No 2019 2019 2018 2019 2018 2019 Unaudited Unaudited Audited 1 Income a. Revenue from Operations 2,821.16 2
Slide 50: Cargo Volume Breakup H1 & Q2 FY20 – Mundra
Cargo Volume Breakup H1 & Q2 FY 20 - Mundra (in MMT) Particulars H1 FY20 H1 FY19 Growth % Q2 FY20 Q2 FY19 Growth % Coal 17.38 15.35 13% 7.25 9.48 -23% Total Container (MMT)* 35.12 33.03 6% 17.76 16.2 10% Total Container of Which CT1 ('000 TEUs)(Owned by DPW) 532.95 405.83 31% 267.97 189.62 41% of Wh
Slide 51: Cargo Volume Breakup H1 & Q2 FY20 – Hazira & Dahej
Cargo Volume Breakup H1 & Q2 FY 20 – Hazira & Dahej (in MMT) Hazira Cargo H1 FY20 H1 FY19 Growth % Q2 FY20 Q2 FY19 Growth % Container (000' TEUs) 299.75 279.15 7% 156.98 148.21 6% Container (MMT)* 4.38 4.08 7% 2.29 2.16 6% Coal 3.05 3.17 -4% 1.26 1.85 -32% Liquid 1.74 1.41 23% 1.35 1.04 29% Others 1
Slide 52: Cargo Volume Breakup H1 & Q2 FY20 – Dhamra, Kattupalli & Terminals
Cargo Volume Breakup H1 & Q2 FY 20 – Dhamra Kattupalli & Terminals (in MMT) Kattupalli Cargo H1 FY20 H1 FY19 Growth % Q2 FY20 Q2 FY19 Growth % Containers (000' TEUs) 334.26 295.22 13% 180.81 162.87 11% Containers (MMT)* 4.88 4.31 13% 2.64 2.38 11% Others 0.24 0.05 380% 0.19 0.02 850% Total 5.12 4.36
Slide 53: 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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