Adani eyes 3 global ports, prepares $3 billion cash chest

livemint.com:

₹30,000-31,000 crore in fiscal 2025," the first person said. APSEZ’s consolidated revenue in FY24 grew 28% year-on-year to ₹26,711 crore, and net profit jumped 50% to ₹8,104 crore. Both are record highs.

An email sent to Adani Group seeking comment on the latest capex plan remained unanswered till press time. In India, APSEZ, the country’s biggest private ports operator, owns 15 ports and terminals (seven on the west and eight on the east coast). The company handled a record domestic cargo volume of 420 MMT (million metric tonnes) in FY24, a jump of 24% year-on-year.

Adani’s cargo volumes form a big part or around 25% of the country’s overall volumes of around 1540 MMT (as of FY24), as per data from the Ministry of Ports, Shipping and Waterways and Adani's regulatory filings. The two persons cited earlier said the mega port expansion plan has been discussed internally over the past three months. Ashwani Gupta, whole time director and CEO, Adani Ports and SEZ, told analysts on a post-earnings call last Monday, “Moving forward, we are under discussion for further expansion in the international ports." “...capex (of Adani ports) is expected to range between Rs.10,500 crore Rs.11,500 crore (in FY25)," said Gupta.

Adani Ports is looking at the cargo traffic in the Middle East, Southeast Asia, Africa and Mediterranean for growth in the medium term. “There will be strategic acquisitions and partnerships in these four regions according to the group's strategic roadmap for the next 3-5 years," said the first person. While drawing the ports expansion strategy, Adani Group is essentially betting on the recovery in container demand from a subdued 2023.