Adani Ports & Special Economic Zone Ltd · NSE:ADANIPORTS
Adani Ports & Special Economic Zone — Shareholder Meeting (June 2025)
30 slides from Adani Ports & Special Economic Zone's shareholder meeting presentation, Jun 24, 2025
Slide 1: APSEZ – 26th Annual General Meeting
APSEZ – 26th Annual General Meeting 24th June 2025
Slide 2: Agenda
Agenda A Group profile B APSEZ – World-class Integrated Transport Utility C Investment summary D FY25 Updates E Progressing Towards 2030 2
Slide 3: A Group profile
A Group profile STRICTLY CONFIDENTIAL
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 Other Incubator Materials, Metal Energy & Utility Transport & Logistics Specialty & Mining (73.97%) (60.94%) (74.96%) (65.89%) (67.53%) AEL AGEL APL APSEZ Ports & Logis
Slide 5: Adani Portfolio: Best-in class growth with national footprint
Adani Portfolio: Best-in class growth with national footprint All figures in INR cr Predictable, high and rising free cash flow National footprint with deep coverage Tax paid EBITDA Finance cost paid 89,806 CAT (FFO) 66,527 (74%) EBITDA 24,870 AEL 12,784 APSEZ (51%) Adani’s Core Infra. 18,711 AGEL P
Slide 6: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited (AIIL) | ITD Cementation Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Const
Slide 7: B APSEZ: World-class Integrated Transport Utility
B APSEZ: World-class Integrated Transport Utility STRICTLY CONFIDENTIAL
Slide 8: APSEZ - an Integrated Transport Utility Company
APSEZ - an Integrated Transport Utility Company Portfolio of assets that deliver end-to-end transport solutions Marine services Ports Trains & Tracks MMLPs Warehouses* Trucks Customer gate International Freight Network Services 26 Tugs 10 Ports 58 Rakes 5 MMLPs 0.4 Mn Sq Ft. - FY20 115 Marine Vessel
Slide 9: We are India's largest private port operator, building select global presence
We are India’s largest private port operator, building select global presence West Coast East Coast Capacity Capacity ~361 MMT ~272 MMT Dahej 16 MMT Kandla (Tuna & Berth 13)# 20 APSEZ rejuvenates India’s Haifa Port MMT trade routes Mundra Ports in proximity 264 MMT to DFCs ^Haldia 4 MMT Colombo West
Slide 10: Pan-India Logistics presence
Pan-India Logistics presence APSEZ specializes in retail, industrial, container, bulk, liquids, auto, and grain logistics. APSEZ has integrated technology to deliver advanced infrastructure and seamless supply chain solutions Pan-India logistics presence across MMLPs, warehouses and agri-silos 12 MM
Slide 11: India's largest marine operator, building global presence
India’s largest marine operator, building global presence 1. Diversified marine 2. Focused on the 3. Broad customer base 4. Profitable operations, fleet portfolio MEASA region and long-term contracts high capital efficiency APSEZ has focused on acquisitions to build out its third-party marine fleet
Slide 12: Land bank in our port backyard supports industry cluster development
Land bank in our port backyard supports industry cluster development – we have also invested in land bank for future logistics use Dhamra: ~2,000+ Ha • Rail: 62.5 km longest electrified NGR Line in Investment in land banks for potential Logistics use the country • Road: Dhamra Port is connected to t
Slide 13: C Investment summary
C Investment summary STRICTLY CONFIDENTIAL
Slide 14: Long-term growth way ahead of the industry
Long-term growth way ahead of the industry All-India and APSEZ domestic cargo volume Market leadership position All-India cargo (MMT) 2000 1500 1307 1593 Market Share 27% 45.5% 1000 1052 Total Cargo Container Cargo 500 0 FY15 FY20 FY25 • Complete Transport Solution Provider – ‘From Port Gate to APSE
Slide 15: Strong cashflow generation
Strong cashflow generation Revenue from operations (₹ Cr) EBITDA (₹ Cr) Net cash generated from operations (₹ Cr) 35,000 20,000 19,025 20,000 31,079 18,000 18,000 17,226 30,000 16,000 16,000 25,000 14,000 14,000 12,000 12,000 20,000 10,000 10,000 15,000 7,565 7,402 11,873 8,000 8,000 10,000 6,000 6,
Slide 16: Consistent improvement in Return on Capital Employed
Consistent improvement in Return on Capital Employed APSEZ (Consolidated) Domestic ports* Marine** 21% 15% 19% 13% 14% 12% 15% 12% 13% FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 The following gestating businesses are expected to achieve threshold ROCE in 3-4 years Logistics International ports 6%
Slide 17: C2 Debt Profile
C2 Debt Profile STRICTLY CONFIDENTIAL
Slide 18: Long-term debt maturity profile as on 31st March'25
Long-term debt maturity profile as on 31st March’25 ₹ Cr Fund from Operations + Cash Fund from Operations (FY25) Balance (FY25) ₹15,847 Cr ₹24,838 Cr 12187 1503 9034 7655 1244 5823 10684 1549 9034 3846 2996 6411 2616 52 4274 3846 2996 452 2564 44 250 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY42
Slide 19: Debt ratios
Debt ratios (in ₹ Cr) Gross debt, net debt & average maturity Net Debt to EBITDA 45,453 49,819 6.0 7.0 46,279 45,810 40,072 3.3 36,462 3.0 3.1 34,401 5.5 36,819 2.9 31,666 28,472 4.6 4.3 2.3 1.9 Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Net Debt Gross Debt Average Maturity (years) FY20 FY21 FY22 FY23 FY24
Slide 20: Comprehensive credit rating coverage
Comprehensive credit rating coverage Global rating agencies Domestic rating agencies AAA / Stable Baa3 / Negative AAA / Stable BBB- / Negative AAA / Stable BBB- / Negative AAA / Stable 20
Slide 21: C3 ESG
C3 ESG STRICTLY CONFIDENTIAL
Slide 22: Sustainability is at the core of our operations
Sustainability is at the core of our operations • Net zero by 2040 “Leadership” band rating in climate change and water security • 12 ports certified zero waste to landfill Ranked within Top-10 in Transport & Transport • Deployed battery-operated Infrastructure industry ITVs in ports, exploring clea
Slide 23: D FY25 Updates
D FY25 Updates STRICTLY CONFIDENTIAL
Slide 24: Port volume – FY25
Port volume – FY25 In MMT FY25 FY24 YoY Domestic Volume 430.6 408.4 5% International Volume 19.6 11.5 71% APSEZ volume 450.2 419.9 7% In MMT FY25 FY24 YoY Total Domestic Volume 430.6 408.4 5% East Coast Volume 170.6 176.4 -3% East Coast % share 40% 43% West Coast Volume 260.0 232.0 12% West Coast %
Slide 25: APSEZ: Robust financial performance in FY25
APSEZ: Robust financial performance in FY25 (INR Cr) (YoY) FY24 FY25 Operating Revenue Profit Before Tax* Profit After Tax 26,711 16% 31,079 10,467 27% 13,279 8,104 36% 11,061 EBITDA Net Cash Flow from Operations 15,864 20% 19.025 15,018 15% 17,226 The Board has recommended a dividend of Rs.7 per sh
Slide 26: Business line-wise Operating Revenue & EBITDA – FY25
Business line-wise Operating Revenue & EBITDA – FY25 (in ₹ Cr) Domestic ports* International ports Marine** 22,740 72% 3,380 57% 1,144 20,343 73% 3,152 14% 16,503 53% 14,547 11% 629 604 360 464 339 FY24 FY25 FY24 FY25 FY24 FY25 SEZ & port development Logistics 933 87% 812 26% 2,881 Integrated freigh
Slide 27: G Progressing Towards 2030
G Progressing Towards 2030 STRICTLY CONFIDENTIAL
Slide 28: Our five-year roadmap reflects doubling of cashflow generation
Our five-year roadmap reflects doubling of cashflow generation Revenue (₹ Cr) EBITDA (₹ Cr) Net cashflow from operations (₹ Cr) 65,500 36,500 34,500 31,079 19,025 17,226 10,925 7,067 6,029 FY19 FY25 FY29F FY19 FY25 FY29F FY19 FY25 FY29F CAPEX guidance* FY25 – FY29F CAPEX themes Domestic ports ₹45,00
Slide 29: Thank You
Growth adar Sodness adar ; Ports and Logistics Thank You
Slide 30: 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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