Adani Ports & Special Economic Zone Ltd · NSE:ADANIPORTS
Adani Ports & Special Economic Zone — Merger or Acquisition (March 2021)
23 slides from Adani Ports & Special Economic Zone's merger presentation, Mar 3, 2021
Slide 1: Adani Ports and SEZ Limited
Adani Ports and SEZ Limited March 03, 2021
Slide 2: Contents
Contents A Group Profile B Company Profile C Acquisition of minority stake in GPL - Executive Summary D Gangavarm Port Limited (GPL) – Overview E Transaction Overview and Investment Rationale F Annexures 2
Slide 3: Group Profile
adani Ports and Logistics Group Profile
Slide 4: Adani Group: A world class infrastructure & utility portfolio
Adani Group: A world class infrastructure & utility portfolio Adani Transport & Logistics Energy & Utility • Marked shift from B2B to Portfolio Portfolio B2C businesses– • ATGL – Gas distribution 63.5% 100% 75% 55% network to serve key APSEZ SRCPL ATL AGEL geographies across India Port & Logistics R
Slide 5: Adani Group: Decades long track record of industry best growth rates across sectors
Adani Group: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 161% 45% 12% 21% 2.5x 6x 3x 30% 1.5x 5% 7% 25% Industry Adani APSEZ Industry AGEL Adani Industry ATL Industry AGL 2014
Slide 6: Adani Group: Repeatable, robust & proven transformative model of investment
Adani Group: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Activity • Site acquisition • Engineering & design • Redesigning the • Analysis & market • Life cycle O&M capital
Slide 7: Company Profile
adani Ports and Logistics Company Profile
Slide 8: APSEZ: Largest private transport utility
APSEZ : Largest private transport utility APSEZ – Dhamra Port Ports Ports One Oneto totwelve ten in in Import - Export - Steel twenty twentyyears years Coking coal (HRC/CRC) 2x Port income String of Ports Ports of Prosperity Port gate to 2x Warehousing Warehousing SEZ customer gate Warehousing SEZ i
Slide 9: Largest network of ports in India
APSEZ : Largest network of ports in India West Coast East Coast Capacity 335 MMT Capacity 163 MMT FY06 FY21 Dahej 14 MMT Tuna Moga Kotkapura Patli Kanech Kilaraipur Dhamora 1 Port 12 * 14 Kannauj MMT Kishangarh Samastipur and Darbhanga 10 MMT Capacity 498 MMT Mundra Vidisha Katihar Harda 264 MMT Hos
Slide 10: Acquisition of minority stake in GPL - Executive Summary
APSEZ : Acquisition of minority stake in GPL - Executive Summary APSEZ to acquire 31.5% stake from Warburg Pincus in Gangavaram Port Ltd (GPL) for INR 1,954 Cr High growth potential through increase in capacity utilization and enhancement in cargo basket Strong balance sheet (zero debt, AAA rated) w
Slide 11: Gangavaram Port Limited (GPL) - Overview
adani Ports and Logistics Gangavaram Port Limited (GPL) - Overview
Slide 12: Gangavaram Port (GPL) - Overview
APSEZ : Gangavaram Port (GPL) - Overview Concession Overview Strategic Location • Long term Concession: (Indicates shortest road distance between Gangavaram port and other Port) • Commenced operations in 2009 (BOOT model) • 50 Year concession till 2059 APSEZ Port • Concession Fee: APSEZ Terminal • 2
Slide 13: GPL - Port Infrastructure
APSEZ : GPL - Port Infrastructure • All weather, deep water multipurpose 9 port, located at Vizag • Operational capacity of 64 MMTPA • 19.5 m draft 8 • 9 berths 7 1 • Freehold land: 1,800 acres of which 800 acres available for future development • Additional Leased land: 1,052 acres 6 2 • Excellent
Slide 14: GPL - Stable and growing Cargo Volumes
APSEZ : GPL - Stable and growing Cargo Volumes Cargo Volume (MMT) Cargo Segment FY20 Steel, Others, 5 Year CAGR – 11% 3 Year CAGR – 8% 2% 10% Minerals 34.5 , 7% Non 32.5 Limesto Coking 30.4 3.6 ne, 6% (E) Coal, 46% 3.7 2.4 26.0 Iron Ore, 2.2 2.9 14% 3.3 4.8 Coking Coal, 2.3 20.1 19.4 1.9 15% 17.5 1.
Slide 15: GPL - Historical Financial Performance (Profit & Loss)
APSEZ : GPL - Historical Financial Performance (Profit & Loss) Particulars (INR Cr) FY17 FY18 FY19 FY20 FY21E1 CAGR (5 Yr) 6%+ growth revenue Operating Revenue 571 766 964 1,082 1,008 6% and profitability EBITDA 325 454 559 634 609 6% EBITDA % 57% 59% 58% 59% 60% Less: D&A 171 175 179 138 139 Stable
Slide 16: GPL - Historical Financial Performance (Balance Sheet & Cash Flow)
APSEZ : GPL - Historical Financial Performance (Balance Sheet & Cash Flow) Particulars FY17 FY18 FY19 FY20 FY21E1 (INR Cr) Balance Sheet Net Fixed Assets 1,825 1,685 1,545 1,431 1,401 Zero debt, Gross Debt3 605 258 26 2 - AAA Rated Cash & cash Equivalent 319 344 412 424 570 (CARE) Net Debt 286 (87)
Slide 17: Transaction Overview and Investment Rationale
adani Ports and Logistics Transaction Overview and Investment Rationale
Slide 18: Transaction Overview
APSEZ : Transaction Overview Proposed Transaction Structure Implied Valuation (INR cr.) • APSEZ to acquire 31.5% stake from Warburg Pincus at INR 1,954 Cr Transaction Value 1,954 • Transaction is subject to CCI approval Target Share 31.5% DVS Raju & GoAP Warburg Pincus APSEZ Family Stake Sale 58.1%
Slide 19: GPL - A Value Accretive Transaction for APSEZ
APSEZ : GPL - A Value Accretive Transaction for APSEZ Strategic • Deep draft port in India with seamless connectivity with rich Eastern, Central and Southern markets of Location India • Sticky cargo base and long term customers Growth Potential • Growth potential through expansion, new cargo types a
Slide 20: Annexures
adani Ports and Logistics Annexures
Slide 21: GPL - Location & Hinterland Connectivity
APSEZ : GPL - Location & Hinterland Connectivity GPL's Customer Reach Road Connectivity Port is located near the richest mineral and metal industrial belt 4 lane expressway of 3.8 km connecting the port with the NH5 ensuring steady increase in cargo flow. (Chennai - Kolkata), to be widened to 6 lane
Slide 22: GPL - Port Infrastructure
APSEZ : GPL - Port Infrastructure Infrastructure Highlights Equipment Details Equipment Name No Specification • Mechanical Handling – 3 fully mechanized berths for capesize For Coal Terminal and 6 berths for Panamax size vessel. Ship - Unloaders 4 2400 TPH (each) Stackers 3 4000 TPH • Single Window
Slide 23: Investor Relations Team
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 growth prospect
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