News: Adani Ports’ Q4FY22 revenues grew 6% YoY to Rs 3845 crore, led by 7% growth in APSEZ cargo volumes. Adjusted EBITDA margin largely came in 62% levels range (62% vs 63.4% in Q4FY21), due unfavourable cargo mix, leading to a flattish absolute adjusted EBITDA at Rs 2383 crore. However, adjusted PAT de-grew 21% to Rs1024 crore, due to a forex loss of Rs 524 crore.
Views: For FY23, volume recovery is under way for bulk (pass-through of higher coal costs by power companies), container (new tie-ups). The management expects to clock 350-360 MMT volumes in FY23 (12-15% growth) and revenue and EBITDA growth of 20% and 24% to Rs 19200 crore and Rs 12200 crore, respectively.
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