Adani Ports And Special Economic Zone Limited
APSEZL is the largest port developer and operator in India by volume, with an annual capacity of ~633 MMT in India. It commenced operations with the Mundra Port in Gujarat under a 30-year concession agreement with Gujarat Maritime Board (GMB). Since ...
Key Metrics
EPS
39.92
Current ratio
1.78
Debt/Equity
1.20
Debt/EBITDA
2.37
Interest coverage ratio
4.53
Operating Cashflow to total debt
0.20
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Strong competitive profile and established market position; increasing asset/cargo diversification
Diversification into logistics value chain
Improvement in financial profile, supported by strong operational performance; financial flexibility remains strong
Liquidity position: Adequate
Cons
Volumegrowth at port assets remains sensitive to global trade volatility
Project execution risk for ongoing greenfield/new projects
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About Adani Ports And Special Economic Zone Limited bond.
This comprehensive profile covers key factual information about Adani Ports And Special Economic Zone Limited. APSEZL is the largest port developer and operator in India by volume, with an annual capacity of ~633 MMT in India. It commenced operations with the Mundra Port in Gujarat under a 30-year concession agreement with Gujarat Maritime Board (GMB). Since then, the port company has rapidly grown to become the largest in the country in terms of cargo handling capacity with 15 ports/terminals at Mundra, Dahej, Hazira, Dhamra, Kattupalli, Krishnapatnam, Mormugao, Tuna, Dighi, Gangavaram, Ennore, etc. The ports offer handling services for all kinds of cargo, viz., dry bulk, liquid bulk, crude and containers. Apart from its port operations, APSEZL is the approved developer of a multi-product SEZ at Mundra, Dhamra and Kattupalli and its surrounding areas. Further, through its majority/wholly-owned SPVs, the company is present in the logistics business (container trains and inland container depots), which it has been expanding to become an integrated transport utility. EPS in Mar-2024 was 39.92. Current ratio in Mar-2024 was 1.78. Debt/Equity in Mar-2024 was 1.20. Debt/EBITDA in Mar-2024 was 2.37. Interest coverage ratio in Mar-2024 was 4.53. Operating Cashflow to total debt in Mar-2024 was 0.20. Total revenue for Mar-2025(E) was ₹32176.88. Net income for Mar-2025(E) stood at ₹9625.16. Total assets as of Mar-2024 were ₹116,999.20. Operating cash flow for Mar-2024 was ₹15,017.58. Peers and comparison entities consist of Adani Ports and Special Economic Zone Limited, JSW Infrastructure Limited, Gujarat Pipavav Port Limited, Natura Hue Chem Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Strong competitive profile and established market position; increasing asset/cargo diversification; Diversification into logistics value chain; Improvement in financial profile, supported by strong operational performance; financial flexibility remains strong; Liquidity position: Adequate. Key risks include: Volumegrowth at port assets remains sensitive to global trade volatility; Project execution risk for ongoing greenfield/new projects . Leadership team details include Gautam Adani (Executive Chairman), Karan Adani (Managing Director), Ashwani Gupta (Whole-time Director and CEO), D. Muthukumaran (Chief Financial Officer), Kamlesh Bhagia (Company Secretary and Compliance Officer), Rajesh S Adani (Non-executive, non-independent Director), Gopal Krishna Pillai (Independent non-executive Director), Bharat Sheth (Independent non-executive Director), M V Bhanumathi (Independent non-executive Director), P S Jayakumar (Independent non-executive Director), Rajkumar Beniwal (Non-executive, non-independent Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.