ICRA Upgrades Adani Ports and SEZ Rating to AAA/Stable: Key Developments and Future Plans
| Category | Details |
|---|---|
| Rating Upgrade | ICRA upgraded APSEZ's rating to AAA/Stable from AA+/Stable. |
| Financial Instruments | Long-term fund based/non-fund based facilities, NCDs, and commercial papers upgraded to AAA/Stable. |
| Stock Performance | Adani Ports shares on July 18 ended at Rs 1,491.95, down by Rs 7.10 or 0.47%. |
| Investment Plan | APSEZ plans to invest Rs 100 billion ($1.2 billion) to enhance its southern India trans-shipment container port. |
| Vizhinjam Port | Part of the second phase project, expected to finish by 2028. Located near the southernmost tip of India. |
| First Container Vessel | Maersk's first container vessel trial run on July 12 at the 800-meter berth. |
| Financial Performance | QoQ Net Profit: Rs 2,014.77 crore (77% YoY increase). Revenue: Rs 6,896.50 crore (19% YoY growth). |
| Dividend | Board recommended a dividend of Rs 6 per share. |
| Annual Growth | Volume growth of 24% YoY, reaching 420 MMT. Net profit jumped 50% YoY. Revenue grew 28% YoY to Rs 26,711 crore. |
| EBITDA | Increased by 44% YoY to Rs 15,751 crore. |