APSEZ Q4 PAT up by 288%; Adani Total Gas Q4 PAT up by 19%

Adani Ports and Special Economic Zone (APSEZ) Ltd. has posted a 288 per cent growth in its profit after tax (PAT) for the quarter ended March 31, 2021 at Rs 1,321 crore, up from Rs 340 crore for the corresponding period last year. For the full financial year 2020-21 (FY21) the company's PAT grew by 33 per cent to stand at Rs 5,049 crore, as against Rs 3,785 crore last year.

The company's operating revenue for Q4 of FY21 grew by 24 per cent to Rs 3,608 crore, up from Rs 2,921 crore in Q4 of previous year while that for the full year increased by six per cent to Rs 12,550 crore as against Rs 11,873 crore last year.

In terms of cargo, APSEZ posted a 27 per cent to handle 73 million metric tonnes (mmt) in Q4 of FY21, up from 58 mmt in Q4 of FY20. For the full year, the company's cargo volume grew by 11 per cent to 247 mmt in FY21, up from 223 mmt in FY20.

Commenting on the results, Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ, said that the company has been able to restructure its cost fundamentally and able to demonstrate an increase in EBIDTA margin by one per cent taking its port margins to 70 per cent.

"On the growth side we used this time to complete four large acquisitions i.e Krishnapattanam port, Gangavaram port, Dighi port and Sarguja Rail line, taking our total portfolio to 13 ports in the country. The total value of said investment was Rs 26,000 crore. We have also been able to take another milestone step in our international journey by foraying into container terminals in Colombo port. With these steps we are truly in the right direction to take APSEZ from a port company to a transport utility company delivering full logistics solutions to our customers," Adani added.

On FY22 basis, the company's internal estimates APSEZ had guided for cargo volume to be in the range of 310-320 mmt, including 10 mmt of Gangavaram port in Q4FY22. According to the company, consolidated revenue to be in the range of Rs 16,000 crore to Rs 16,800 crore whereas consolidated EBIDTA to be in the range of Rs 10,200 crore to Rs 10,700 crore and free cash flow to be in the range of Rs 5,500 crore to Rs 6,000 crore.

On the other hand, Adani Total Gas Limited (ATGL), one of India’s leading private companies in the gas utility sector in India posted a 19 per cent growth in its PAT for Q4 of FY21 to Rs 145 crore, up from Rs 122 crore in the corresponding period last year. The company's revenue from operations for the quarter stood at Rs 614 crore as compared to Rs 490 crore in Q4 of the previous fiscal.

On full-year basis, ATGL posted an eight per cent growth in its PAT at Rs 472 crore, up from Rs 436 crore in the previous fiscal 2019-20. However, the company's revenue from operations saw a degrowth of 10 per cent from Rs 1991 crore in FY20 to Rs 1,784 crore in FY21.

Commenting on the quarter result of ATGL, the company's CEO Suresh P Manglani said that with pandemic onslaught, it was a challenging year for the city gas distribution (CGD) industry.

"The key thrust of the ATGL has been to continue to supply PNG and CNG, and safely handle all operations and emergencies 24*7. This is the third successive quarter of highest ever financial performance with robust physical infrastructure growth despite ongoing pandemic. We are consistently encouraging society to adopt PNG and convert their vehicles to environmental friendly CNG to contribute in reduction of carbon footprints," Manglani added.

ATGL's combined volume of CNG and PNG stood at 166 million metric standard cubic metre (mmscm) in Q4 of FY'21 as against 145 mmscm in Q4 FY20 whereas it increased its CNG Stations to 217 in FY21 alone, with 102 new CNG stations commissioned.


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