“Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio. These results are a testament to our focus on execution. This exceptional nine-month performance underscores Adani Enterprises Ltd’s position as a powerhouse for nurturing transformative infrastructure and energy transition sectors,” said Gautam Adani, Chairman of the Adani Group, in his statement in the press release.
APSEZ ranked among the top 10 companies
The group’s ports business recorded a profit of 14 per cent in the net profit at Rs 2518 crore in the October-December quarter of 2024. The company closed its Gopalpur and Astro Offshore transactions worth ₹4,600 crore in the same quarter. In the same quarter of 2023, the company’s net profit stood at ₹2,208 crore. Besides, the APSEZ was ranked among the top 10 most sustainable companies in the transport and transport industry infrastructure by the S&P Global Corporate Sustainability Assessment.
APSEZ is the largest port developer and operator in India having seven ports and terminals on the West Coast and eight ports and terminals on the East Coast comprising 27 per cent of the country’s total port volume. The company’s ports and terminals on the West Coast are – Mundra, Tuna Tekra and Berth 13 in Kandla, Dahej and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala and on the East Coast are – Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatanam in Andhra Pradesh, Kattuplli and Ennore in Tamil Nadu, and Karaikal in Puducherry. The company is also developing a transhipment port in Colombo, Sri Lanka besides operating the Haifa port in Israel and Container Terminal 2 at Dar Es Salaam Port, Tanzania.
The company registered growth on both the domestic and international front
Expressing excitement over the growth achieved by the company, APSEZ’s whole-time Director and CEO said, “excited to share the fantastic momentum we have achieved during 9M FY25, driven by exceptional execution across 3 key areas of our business – market share gains coupled with volume-price mix increase, traction in logistics vertical, and operational efficiencies along with technology-led gains.”
“Our domestic ports saw year-on-year revenue growth of 11 per cent, along with 80 point increase in EBITDA (Earnings before interest, taxes. depreciation and amortization) margin. Overall, India cargo market increased to 27.2 per cent, while the container market share went up to 45.2 per cent. Logistics revenue grew by 22 per cent, driven by double-digit growth in container and GPWIS volumes, “he added. Gupta further said that the company’s revenue registered double-digit growth in its international operations.
Opposition’s attack on the Adani group
Despite facing attacks from all sides including the Indian opposition, the Adani Group has managed to achieve remarkable financial growth. In January 2023, a so-called investigative report released by a US-based short-seller firm Hindenberg Research accused Gautam Adani of engaging in stock manipulation and accounting fraud. Following the accusation, the company shares had taken a dip.
However, Adani group denied all the allegations against the company in a media statement terming them as a “malicious combination of selective misinformation and stale, baseless and discredited allegations”. An expert committee constituted by the Supreme Court found no regulatory failure. The court refused to order an SIT probe on the allegations made by short-seller Hindenburg. It added that there was no evidence that SEBI was negligent in taking action and no reason to suggest any conflict of interest on SEBI’s part.
After the Hindenburg report came out, Congress leader Rahul Gandhi used the report to attack Prime Minister Modi by alleging that he gave undue favours to the company. In March last year, the US Attorney’s Office for the Eastern District of New York decided to investigate whether the conglomerate, along with its founder Gautam Adani, may have engaged in bribery.
