Marine Port & Services company Adani Ports & Special Economic Zone announced FY24 results: Financial Highlights: Revenue growth of 28% YoY to Rs 26,711 crore in FY24, supported by 30% jump in ports business revenue and 19% in logistics business. EBITDA (excl. forex) jumps 24% YoY to Rs 15,864 crore, with Rs 15,246 crore contributed by ports business and Rs 540 crore by logistics business. Domestic port EBITDA margin expanded by ~150 bps with better sweating of assets (capacity utilization of 67% in FY24 vs 56% in FY23). Record PAT of Rs 8,104 crore (+50% YoY), despite a write off of Rs 455 crore resulting from the switch to the new tax regime for one of its subsidiaries. Completed loan pre-payments/repayments of Rs 5,584 crore, exceeding the initial guidance of Rs 5,000 crore provided at the start of the year. Net debt to EBITDA improves to 2.3x from 3.1x in FY23, despite a capex of Rs 7,416 crore. For FY24, the APSEZ Board has recommended a dividend of Rs 6 per share, in line with our capital allocation policy. This implies a payout of around Rs 1,300 crore for the company. Ashwani Gupta, Whole-Time Director & CEO, APSEZ, “FY24 has been a year of many new milestones for APSEZ on both operational and financial metrics. APSEZ outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and EBITDA by 6%-8%, while closing the year with net debt to EBITDA ratio of 2.3x vs its guidance of 2.5x. Clearly, the company’s business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results" Result PDF