Key Points
Adani Ports and Special Economic Zone Ltd, or Adani Ports, India's biggest ports operator, develops and operates about 12 ports and terminals on the west and east coasts of India, a string of pearls along the entire coast of India, from Gujarat to West Bengal, which puts it in a dominant position..
Shapoorji Pallonji Group has sold the brownfield-Gopalpur port to Adani Ports for an enterprise value of Rs 3,350 crore..
In FY24, Gopalpur port is estimated to handle about 11.3 MMT (million metric tonne) cargo (YoY growth - 52%) and earn a revenue of Rs 520 crore (YoY growth - 39%) and achieve EBITDA of Rs 232 crore (YoY growth- 65%), Adani Ports said..
"In our view, the Gopalpur Port is all set for strong growth and margin expansion inFY25 with opportunities already identified for achieving higher operational efficiencies and infra debottlenecking, implying further value accretion for APSEZ shareholders," it said.. Gopalpur port isn't a major port yet but holds significant scope of expansion and an important piece in Adani's overall infrastructure matrix which is set for tremendous growth as the Indian economy grows at a rapid pace, producing more goods as well as exporting and importing more...
With a monthly cargo run rate of 35 million tonne, Motilal Oswal Financial Services expects Adani Ports to surpass even its revised cargo volume guidance of 400 million tonne during FY24. Adani Ports reported 9 per cent growth in cargo handling at seaports it operates for FY23...
