Ref No: APSEZL/SECT/2024-25/116

January 30, 2025

BSE Limited National Stock Exchange of India Limited

Floor 25, P J Towers, Exchange Plaza,
Dalal Street, Bandra Kurla Complex,
Mumbai – 400 001 Bandra (E), Mumbai – 400 051
Scrip Code: 532921 Scrip Code: ADANIPORTS

Sub: Submission of Media Release and Investor Presentation on Unaudited

Financial Results (Standalone and Consolidated) for the quarter and nine
months ended 31st December, 2024.

Dear Sir/Madam,

In continuation to Outcome of Board Meeting dated 30th January. 2025, We

hereby submit:

1. Media Release dated 30th January, 2025 on the Unaudited Financial Results
(Standalone and Consolidated) for the quarter and nine months ended 31st
December, 2024, as Annexure “A”.

2. Presentation on performance highlights of the Company for the Unaudited

Financial Results (Standalone and Consolidated) of the Company for the
quarter and nine months ended 31st December, 2024 as Annexure “B”. The
same is being uploaded on the Company’s website at www.adaniports.com.

Kindly take the same on your record.

Thanking you,

Yours faithfully,
For Adani Ports and Special Economic Zone Limited
Kamlesh Digitally signed by
Kamlesh Bhagia

Bhagia Date: 2025.01.30

13:09:42 +05'30'

Kamlesh Bhagia
Company Secretary

CC: 1. India International Exchange (IFSC) Limited (India INX)

2. Singapore Exchange Limited
3. NSE IFSC Limited (NSE IX)

Adani Ports and Special Economic Zone Ltd Tel +91 79 2555 4444
Adani Corporate House, Shantigram, Fax +91 79 2555 7177
Nr. Vaishno Devi Circle, S. G. Highway, [email protected]
Khodiyar, Ahmedabad - 382421 www.adaniports.com
Gujarat, India
CIN: L63090GJ1998PLC034182

Registered Office: Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421, Gujarat, India
 Annexure - A

Media Release

APSEZ PAT grows 32%, crosses Rs 8,000 crores

Highlights
• 9M FY25 revenue grew 14%, EBITDA grew 19%, and PAT was up 32% YoY
• EBITDA margin increased to 62% (from 60% in 9M FY24)
• Closed Gopalpur and Astro Offshore transactions worth over Rs 4,600 crores in Q3
• Net debt to TTM EBITDA at 2.1x vs. 2.3x in FY24
• Started Trucking Management Solution (TMS), driven by a technology platform
• FY25 EBITDA guidance increased to Rs 18,800-18,900 crores (from Rs 17,000-18,000
crores)
• S&P Global CSA ranked APSEZ among the Top 10 most sustainable global companies in
the transport and transport infrastructure industry

Ahmedabad, 30 January 2025: Adani Ports and Special Economic Zone Limited (APSEZ)
today announced its results for the quarter and nine months ending 31st December 2024.

Particulars Q3 FY25 Q3 FY24 YoY 9M FY25 9M FY24 YoY

(Rs Cr)
Cargo 113 109 4% 332 311 7%
(MMT)
Revenue 7,964 6,920 15% 22,590 19,814 14%

EBITDA1 4,802 4,186 15% 14,019 11,820 19%

PAT2 2,518 2,208 14% 8,038 6,089 32%

1. EBITDA excludes impact of forex on relevant balance sheet items as 31st Dec ’24 and 31st Dec ‘23
2. During 9M FY24, APSEZ elected to switch to the new tax regime (u/s 115 BAA of the Income Tax Act) for one of its
subsidiaries, AKPL. Consequently, the past years’ MAT was written-off, which reduced the PAT for previous period by Rs. 455 Cr

"I am 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. On the logistics front, in line with our commitment earlier in the
year, we launched a new trucking platform, which is being integrated across the rest of the
logistics value chain and will make us a true integrated Transport Utility. We have also
upgraded our FY25 EBITDA forecast to Rs 18,800-18,900 crores. Moreover, it is incredibly
gratifying to be recognized by S&P Global CSA as one of the Top 10 companies globally in the
transport industry. This prestigious recognition reflects our focus on imbibing sustainability
across our operations,” said Mr. Ashwani Gupta, Whole-time Director & CEO, APSEZ.

Adani Ports and Special Economic Zone Ltd.

Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S G Highway, Ahmedabad - 382 421, Gujarat
CIN: L63090GJ1998PLC034182
Website: www.adaniports.com; Email: [email protected]; Phone: 079-2656 5555; Fax: 079-2555 6490
Strategic highlights

• Started Trucking Management Solution (TMS), a technology platform that acts as a

transformational marketplace + fulfilment solution to streamline supply chain for
customers
• TMS offers an easy-to-use marketplace interface, handles end-to-end trucking
workflows, can be seamlessly integrated with client systems, enables real-time
tracking, and includes analytical tools for pricing and operational insights. TMS
incorporates SLA-based fulfilment assurance across a wide range of fleet options,
including full-load and partial-load shipments
• Closed Gopalpur and Astro Offshore transactions worth over Rs 4,600 crores
• Signed 30-year concession agreement to manage container terminal at Dar es
Salaam Port, Tanzania
• Vizhinjam port commenced commercial operations, post extensive trials. During the
trial period, the port handled 70+ vessels and 147,000+ containers
• Commenced O&M operations at Syama Prasad Mookerjee Port’s Netaji Subhas dock
• Placed India’s largest order for eight harbour tugs with Cochin Shipyard. The
contract value is estimated at Rs 450 crores and deliveries are scheduled to begin in
December 2026 and continue until May 2028

Operational highlights

• APSEZ clocked 332 MMT (+7% YoY) cargo volume in 9M FY25 led by growth in
containers (+19% YoY), liquids and gas (+8% YoY) and dry and dry bulk cargo (iron
ore, limestone, minerals, coking coal, etc.), partially offset by decline in imported
non-coking coal
• All-India cargo market share for 9M FY25 stood at 27.2% (up from 26.5% in FY24).
Container market share for 9M FY25 stood at 45.2% (up from 44.2% in FY24)
• Logistics continued to demonstrate momentum with growth across container
volume (0.48 Mn TEUs, +9% YoY), bulk cargo (16.1 MMT, +13% YoY) and container
volume handled at MMLPs (3,33,419 TEUs, +19% YoY)
• During November ’24, Mundra handled 396 vessels and executed 845 vessel
movements, making it the highest ever monthly achievement by the port. Mundra
port also exported a record breaking 5,405 cars in a single consignment during the
month
• Gangavaram port launched container terminal operations with the inaugural EXIM
vessel call of MV Synergy Keelung

Financial highlights

• Operating revenue grew by 14% YoY to Rs 22,590 crores. Ports revenue increased by
11% YoY to Rs 17,172 crores; Logistics revenue increased by 22% to Rs 1,852 crores
• EBITDA (excluding forex) increased 19% to Rs 14,019 crores. EBITDA margin
increased to 62% (from 60% during 9M FY24).
• FY25 EBITDA guidance revised to Rs 18,800-18,900 crores
• APSEZ continues to maintain excellent financial discipline - net debt to TTM EBITDA
stood at 2.1x (vs 2.3x in FY24)
• ICRA Limited reaffirmed the credit rating of long-term - fund based/non-fund-based
limit and non-convertible debentures as [ICRA] AAA; stable and commercial paper as
[ICRA] A1+
• India Ratings & Research reaffirmed the credit rating of non-convertible debentures

Adani Ports and Special Economic Zone Ltd.

Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S G Highway, Ahmedabad - 382 421, Gujarat
CIN: L63090GJ1998PLC034182
Website: www.adaniports.com; Email: [email protected]; Phone: 079-2656 5555; Fax: 079-2555 6490
 and bank loans (long-term) as IND AAA/Stable and commercial paper and bank loans
(short-term) as IND A1+
• S&P Global Ratings reaffirmed its rating at BBB- and revised outlook to “Negative”
during the quarter. Moody’s Ratings reaffirmed investment grade rating ‘Baa3’ and
revised its outlook to negative during the quarter
• Fitch Ratings reaffirmed APSEZ rating at BBB- and placed the long-term foreign-
currency issuer rating and US dollar senior unsecured bonds on Rating Watch
Negative during the quarter

ESG highlights

• APSEZ was ranked among the Top 10 global transportation and transportation
infrastructure companies in the 2024 S&P Global Corporate Sustainability
Assessment (CSA - scores as of 31st December), with a score of 68 (out of 100)—
three points improvement over last year. APSEZ is now placed in the 97th percentile
within the sector, improving from the 96th percentile in 2023.
• APSEZ was ranked among the Top 12 companies in transportation infrastructure by
ISS ESG and was awarded ‘Prime’ status for the first time (making APSEZ equity and
bond instruments eligible for responsible investments)
• APSEZ is targeting Net Zero by 2040. The company is on track to add 1,000 MW of
new renewable capacity
• Krishnapatnam port received the 18th ICC Environment Excellence Award 2024 in
the Platinum category demonstrating commitment to sustainability and responsible
practices

Awards and accolades

• Mundra port received the ‘Shipping Terminal of the year Award’ at the 11th
International Samudra Manthan Awards 2024
• Mundra port received ‘Port of the year – containerized cargo’ at the EXIM Star
Awards 2024
• Mundra port was recognized at the Kutch Business Excellence Award 2.0 for
excellence in infrastructure development and collaborative CSR projects
• Krishnapatnam port won the ‘Sustenance Organization Award’ at the QCFI Tirupati
Chapter Meet. This award recognizes commitment to quality and continuous
improvement
• Ocean Sparkle was awarded ‘The Maritime Standard Excellence Award’ at the
Esteemed Star of the Industry Awards
• Ocean Sparkle was named as ‘Best Employer of Offshore Fleet’ at the Seajob Indian
Anchor Awards 2024

Adani Ports and Special Economic Zone Ltd.

Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S G Highway, Ahmedabad - 382 421, Gujarat
CIN: L63090GJ1998PLC034182
Website: www.adaniports.com; Email: [email protected]; Phone: 079-2656 5555; Fax: 079-2555 6490
About Adani Ports & Special Economic Zone Ltd

About Adani Ports and Special Economic Zone Ltd Adani Ports and Special Economic Zone
Ltd (APSEZ), a part of the globally diversified Adani Group, has evolved from a port company
to an Integrated Transport Utility providing end to-end solutions from its port gate to
customer gate. It is the largest port developer and operator in India with 7 strategically
located ports and terminals on the west coast (Mundra, Tuna Tekra & Berth 13 in Kandla,
Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala)
and 8 ports and terminals on the East coast (Haldia in West Bengal, Dhamra and Gopalpur in
Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil
Nadu and Karaikal in Puducherry), representing 27% of the country's total port volumes, thus
providing capabilities to handle vast amounts of cargo from both coastal areas and the
hinterland. The company is also developing a transshipment port at Colombo, Sri Lanka and
operates the Haifa Port in Israel and Container Terminal 2 at Dar Es Salaam Port, Tanzania.
The Ports to Logistics Platform comprising port facilities, integrated logistics capabilities,
including multimodal logistics parks, Grade A warehouses, and industrial economic zones,
puts it in an advantageous position as India stands to benefit from an impending overhaul in
global supply chains. The company’s vision is to be the largest ports and logistics platform in
the world in the next decade. For more information, please visit www.adaniports.com

For media queries, please contact: Roy Paul | [email protected]

For Investor Relations, please contact: Rahul Agarwal | [email protected]

Adani Ports and Special Economic Zone Ltd.

Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S G Highway, Ahmedabad - 382 421, Gujarat
CIN: L63090GJ1998PLC034182
Website: www.adaniports.com; Email: [email protected]; Phone: 079-2656 5555; Fax: 079-2555 6490
 Annexure - B

Adani Ports and Special Economic Zone Ltd.

Operational & financial highlights – Q3 & 9M FY25

30th January 2025
Table of contents

A Group profile

B Company profile

C Investment summary

C1 Strategic highlights

C2 Debt profile

C3 ESG & Governance

D Catalysts driving market leadership position

E Operational highlights

F Financial highlights

G ESG highlights

H Annexure
2
 A
Group profile

STRICTLY CONFIDENTIAL
Adani Portfolio: A World class Infrastructure & Utility portfolio

Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C
Materials, Metal Direct to
Incubator Energy & Utility Transport & Logistics
& Mining consumer

(100%) (100%)
(73.97%) (100%) (50.00%) (100%) (100%)
ANIL AdaniConneX3 AAHL ARTL Copper, Aluminum ADL
AEL New Industries Data Centre Digital
Airports Roads (100%)
PVC
(64.71%)
(100%)
Specialist NDTV
Manufacturing5
(60.94%) (74.96%)
(100%) (43.94%)
AGEL APL
Renewables IPP Mining Services & AWL6
Commercial Mining Food FMCG

(69.94%) (37.40%) (65.89%) (100%) (67.53%)

AESL ATGL2 APSEZ NQXT1 Cement4
T&D Gas Discom Ports & Logistics

(%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries Listed cos Direct Consumer

A multi-decade story of high growth centered around infrastructure & utility core
1. NQXT: North Queensland Export Terminal | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex, | 4. Cement includes 67.53% (67.57% on Voting Rights basis) stake in Ambuja Cements as on 31 st
December,2024 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited. Ambuja Cements Ltd. holds 58.08% stake in Sanghi Industries Ltd.| 5. Includes the manufacturing of Defense and Aerospace
Equipment | 6. AEL to exit Adani Wilmar JV, diluted 13.50% through Offer For Sale (13 th Jan’24), residual stake dilution is pursuant to agreement between Adani & Wilmar Group. | AEL: Adani Enterprises Limited; APSEZ: Adani Ports and Home outline Hamburger Menu Icon with
solid fill

Special Economic Zone Limited; AESL: Adani Energy Solutions Limited; T&D: Transmission & Distribution; APL: Adani Power Limited; AGEL: Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani Roads Transport
Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital Labs Pvt. Limited; IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride l Promoter’s holdings are as on
31 st December, 2024. 4
Adani Portfolio: Decades long track record of industry best growth with
national footprint
Secular growth with world leading efficiency National footprint with deep coverage

Growth 3x 6 Growth 4x 6

EBITDA 71% 1,2,3 EBITDA 92% 1,3,4

AEL
APSEZ
Growth 3x 6 Growth 1.4x 6
AGEL
Adani’s Core Infra.
Platform –
ATGL

EBITDA 91% 1,2,3,5 EBITDA 24% 1,3

AESL
APL
350 Mn
Adani Cement Userbase

Note: 1. Data for FY24 ; 2. Margin for Indian ports business only l Excludes forex gains/losses; 3. EBITDA: Earning before Interest Tax Depreciation & Amortization I EBITDA: PAT + Share of profit from JV + Tax + Deferred Tax + Depreciation + Finance Cost +
Forex Loss / (Gain) + Exceptional Items 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business l 6. Growth pertains to expansion and development
aligned with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: APSEZ's cargo volume surged from 113 MMT to 408 MMT (14%) between 2014 and 2024, outpacing the industry's growth from 972 MMT to 1539 MMT
(5%). AGEL's operational capacity expanded from 0.3 GW to 10.9 GW (57%) between 2016 and 2024, surpassing the industry's growth from 46 GW to 143.6 GW (15%). AESL's transmission length increased from 6,950 ckm to 20,509 ckm (14%) between 2016
and 2024, surpassing the industry's growth from 3,41,551 ckm to 4,85,544 ckm (4%). ATGL expanded its geographical areas from 6 to 52 (27%) between 2015 and 2024, outperforming the industry's growth from 62 to 307 (19%). PBT: Profit before tax l ATGL: Home outline Hamburger Menu Icon with
solid fill

Adani Total Gas Limited l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited l AGEL: Adani Green Energy Limited l Growth represents the comparison
with respective industry segment. Industry source: APSEZ (domestic cargo volume): https://shipmin.gov.in/division/transport-research l Renewable (operational capacity): Installed Capacity Report - Central Electricity Authority (cea.nic.in) l AESL (ckms): National
5
Power Portal (npp.gov.in) l ATGL (GAs): Brochure petroleum.cdr (pngrb.gov.in) | ckms: circuit kilometers | GA: Geographical Areas
Adani Portfolio: Repeatable, robust & proven transformative model of
investment
DEVELOPMENT OPERATIONS CONSUMERS
1 New C.E.O.
Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders
Origination Site Development Construction Operation Inspired Purpose & Value Creation
ACTIVITY

• Analysis & market • Site acquisition • Engineering & design • Life cycle O&M • Delivering exceptional products & services for elevated
intelligence planning engagement
• Concessions & • Sourcing & quality
• Viability analysis regulatory agreements • Asset Management plan • Differentiated and many P&Ls
PERFORMANCE

Adani’s Core Infra. Platform –

350 Mn
India’s Largest Longest Private HVDC World’s largest Energy Network Userbase
Commercial Port Line in Asia Renewable Cluster Operation Center
(at Mundra) (Mundra - Mohindergarh) (at Khavda) (ENOC)

Growth Capital – Platform

MANAGEMENT

Strategic value Investment Case 6% Long Term Debt

Mapping Development Infrastructure Financing 13%
CAPITAL

14%
Framework 31% PSU Banks
March March Pvt. Banks
Policy, Duration Risk Matching 2016 2024 Bonds
55% 19%
Strategy & Risk Management – Rate & Currency 31%
2% NBFCs & FIs
Risk Governance & Assurance DII
Diversified Source of Capital 1%
Framework 28% Global Int. Banks
Capex LC
ENABLER

Continued • Power Utility Business - ENOC

Human Capital • Leadership Development Initiatives
Focus & AI enabled Digital Transformation • City Gas Distribution - SOUL
Development • Investment in Human Capital
Investment • Transportation Business - AOCC

Note 1 Adani Environmental Resource Management Services Ltd. (additional company is being proposed) Home outline Hamburger Menu Icon with
solid fill

O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l
6
6
AIMSL : Adani Infra Mgt Services Pvt Ltd l IG: Investment Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Change Conference l AGEL: Adani Green Energy Ltd. l NBFC: Non-Banking Financial Company l
AIIL: Adani Infra (India) Ltd.
 B
Company profile

STRICTLY CONFIDENTIAL
A transport utility with string of ports and integrated logistics network

Movable assets

Tugs – 117 Dredgers - 28

Trains – 132 Trucks – 936
E-ITVs – 338 OSVs - 31
Moga
Dahej Kanech
Kotkapura
Kandla Kilaraipur Kaithal
Panipat
1 to 15 in two (Tuna & Berth 13)# Tauru Dhamora
decades Patli & Samastipur &
Kannauj
Kishangarh Loni Palwal Darbhanga
Mundra
Patna
Katihar
Virochannagar Vidisha | Harda
Hoshangabad |
Kolkata
Indore Satna Ujjain |
^Haldia
Dewas
Land bank at 4 Tumb &
ports Valvada Nagpur Dhamra
Mumbai
Hazira Taloja
Gopalpur

Container Terminals
Dighi Gangavaram
Bulk Terminals

Elavur Krishnapatnam Multipurpose Ports

Logistics Parks
Malur
Warehouse
(Trains, MMLPs, Mormugao Coimbatore Agri Silos
Kattupalli
Trucks, Warehousing)

Ennore
Vizhinjam Karaikal

Presence across value chain End-to-end solution

Accessibility to 90% of country’s
hinterland
*Includes both SEZ and non SEZ land|| SEZ : Special economic zone; ^ Under Construction; # Berth No. 13 (under development)
GPWIS – General Purpose Wagon Investment Scheme | CTO – Container Train Operator | IWW –Inland Water Ways | AFS – Air Freight Stations | HRC : Hot Rolled Coil | CRC : Cold Rolled Coil | MMT : Million Metric Ton 8
 We leverage an extensive portfolio of marine, ports and logistics assets to deliver tech-
enabled integrated transport solutions

Marine Trains &

Ports MMLPs Warehouses Trucks Customer
services Tracks gate

Digitizing the
value chain for Port ops Real-time rake Automated container Fleet management Digital customer
efficient, cost-
effective management tracking depot mgmt. (TOS) system portal
services
Middleware integrating all our systems

Investing in building our asset portfolio

26 Tugs 10 Ports 58 Rakes 5 MMLPs 0.4 Mn Sq. ft. NIL FY20

117 Tugs 15 Ports 132 Rakes 12 MMLPs 3.1 Mn Sq. ft. 936 Trucks Q3 FY25

140 Tugs 850 MMT* 300 Rakes 20 MMLPs 20 Mn Sq. ft. 5,000 Trucks Growth (FY29 F)

International ports portfolio growth targeted at 150 MMT by 2030

Logistics potential currently identified within the Adani Group– upto 200 MMT
*Domestic cargo target for year 2030 9
 India’s largest private port operator, building global presence

West Coast East Coast

Capacity Capacity
~361 MMT ~272 MMT

Dahej
16
MMT

Kandla
(Tuna & Berth 13)#
20 Haifa Port
MMT

Mundra Ports in
proximity
264 MMT to DFCs

^Haldia
4 MMT Colombo West
Dhamra International Terminal
Hazira 50 MMT
30 MMT Gopalpur
20 MMT Dar es Salaam Port
Dighi Gangavaram Container Terminals
8 MMT 64 MMT Bulk Terminals
Krishnapatnam Multipurpose Ports Abbot Point
75 MMT
Mormugao DFC connectivity
Kattupalli
5 MMT Feeder routes
25 MMT
Ennore
APSEZ rejuvenates India’s
Vizhinjam
Karaikal 12 MMT historic trade routes
18 MMT 22 MMT

• Operating ports in Haifa and Tanzania

• 15 ports with capacity of ~633 MMT
• O&M contract in Australia
• Achieving east-west coast parity
• Building container terminal at Colombo, Sri Lanka

#Berth No. 13 (under development) ^ Under Construction | MMT : Million Metric Ton | DFC – Dedicated Freight Corridor; Note: APSEZ has commenced operations at the container facility at the Netaji Subhas Dock at the Syama Prasad 10
Mookerjee Port in Kolkata; Map not to scale
 Land bank supporting industry cluster development
Dhamra: ~2,000+ Ha
• Rail: 62.5 km longest electrified NGR Line in the Investment in land banks for potential logistics use
country (electrified from Bhadrak / Ranital to DTY) and
connects Howrah Chennai main rail link at Bhadrak and
Ranital with ROB over NH 16 and ROR over main line
• Road: Dhamra Port is connected to the NH 16 (four lane
National Highway between Howrah and Chennai) via 67 Kanech (POL Tank Farm)
Kila Raipur
km road
Loni
Kishanghar
Mundra : ~12,500+ Ha
Virochannagar
• Rail: 64-kilometer dedicated electrified Mundra-Adipur Patli
double track railway line, which connects Mundra Port Mundra
to the Indian railways rail network at Adipur, Gujarat Valvada
• Road : Connected to Indian National Highway (NH) Tumb
network through two State Highways(SH) - SH 48 via Nagpur
Anjar and SH 6 via Gandhidham
Taloja
• Air: 1900-meter-long airstrip to serve passenger and air
cargo requirements
Malur
Gangavaram: ~1,000+ Ha

• Road: 4 lane expressway of 3.8 km connecting the port

with the NH5
• Rail: Twin Railway line connectivity to the main broad
• Land bank is being build in-and-around the industrial
gauge national network of "Chennai-Visakhapatnam-
clusters (Virochannagar-900 acres, NRC-390 acres,
Howrah"
Wadgaon-130 acres, Nagpur-108 acres)
Krishnapatnam: ~2,750+ Ha Powered by Bing • MMLPs (Kishangarh, Virochannagar, Tumb, Patli, Loni)
© GeoNames, Microsoft, TomTom
• Rail : Connected to the Indian railway network present in proximity of industrial clusters will
• Road : Dedicated 23 Km long 4 lane road connectivity promote economic activity (like SEZ does for ports)
connects Krishnapatnam Port to National Highway 16
(Chennai-Kolkata Highway)

Land bank fully integrated with hinterland logistics (rail, road, etc.)
11
Figures in Ha represent industrial land bank; DTY – Dhamra Terminal Yard, ROB – Railway over bridge, ROR – Railway over railway; Map not to scale
 C
Investment summary

STRICTLY CONFIDENTIAL
 Growing market share

All India and APSEZ Cargo Volumes

Market Share of APSEZ (%)

30%
27%

25%

20%

15%
10%

10%

5%
1%
0%
FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24

Market share growth driven by operational excellence, cargo diversification and business model transformation

13
Note: The above data pertains to APSEZ domestic cargo volumes
 Long-term growth way ahead of the industry

All India Cargo Throughput All India and APSEZ domestic cargo volume

1,600 1,539
Cargo Volumes (MMT) 1,500
1,500 1,400
1,282
1,350 1,300
1,200
1,200
1,100
1,050 973
1,000
900 900
750 FY14 FY19 FY24
600 All India Cargo (MMT)
450
300
500 408
150 400
- 300 208
FY10
FY11
FY12

FY14

FY17
FY13

FY15
FY16

FY18
FY19
FY06

FY21
FY22
FY08
FY02
FY03

FY05

FY07

FY09

FY23
FY04

FY20

FY24
200 113
100
All India Port Cargo APSEZ Cargo -
FY14 FY19 FY24
APSEZ Cargo (MMT)

APSEZ cargo volume CAGR over FY14-FY24E at 14% is 3x the industry volume growth rate (5%)

14
Note: The above data pertains to APSEZ domestic cargo volumes
 Strong cashflow generation

Revenue from operations (Rs Cr) EBITDA (Rs Cr) Net Cash Generated from Operations (Rs Cr)
30,000 18,000 16,000 15,018
26,711
15,864
16,000 14,000
25,000
14,000 12,000
20,000 12,000 10,000
10,000
15,000 8,000
10,925 8,000 7,067 6,029
6,000
10,000 6,000
4,000
4,830 4,000 2,977
5,000
2,000 1,132
2,000
- - -
FY14 FY19 FY24 FY14 FY19 FY24 FY14 FY19 FY24

• Revenue and EBITDA growing almost 2-3x every five years

• Average transformation of EBITDA to operating cashflows is healthy at over 70%

• With 70% domestic port EBITDA margins, APSEZ is one of the most profitable port operator globally

15
Note: EBITDA is excluding forex gain/loss
 EBITDA margin expansion across both ports and logistics business
Domestic Ports EBITDA (Rs Cr) Logistics EBITDA (Rs Cr)
16,000 14,907 600 540
14,000
500
12,000
10,000 400
8,000 6,053 300
6,000
200
4,000 2,061 90
2,000 100
- -
FY14 FY19 FY24 FY19 FY24

Domestic Ports EBITDA Margin % Logistics EBITDA Margin %

80% 71% 30%
67% 68% 26%
70%
25%
60%
20%
50% 16%
40% 15%
30%
10%
20%
5%
10%
0% 0%
FY14 FY19 FY24 FY19 FY24

• Ports EBITDA has grown at 22% CAGR during the decade, with EBITDA margin expansion of 400 bps

• Logistics EBITDA has increased at CAGR of 43% during past 5 years, with EBITDA margin expansion of 10%
16
Note: EBITDA is excluding forex gain/loss; Logistics segment reporting was not done during FY13
 Port-wise returns

66% of H1 FY25 domestic ports EBITDA* 22% of H1 FY25 domestic ports EBITDA*

40%
36%
33% 33%

28%
27%
26%
23%
21% 21%
20% 20%
19%19%
16% 16%16%

12% 13% 12% 11% 11% 10%

9%
6% 7%

2% 2%

Mundra Hazira Dahej Dhamra Karaikal Krishnapatnam Gangavaram Kattupalli

ROCE FY22 ROCE FY23 ROCE FY24 ROCE H1 FY25

• ROCE improving at matured ports with better capacity utilization and given the focus on efficiency

• Operational ramp up at ports acquired in the last few years will drive their ROCE to ~20%

17
Note: * includes harbour EBITDA
 C1
Strategic highlights

STRICTLY CONFIDENTIAL
Strategic highlights

Key strategic developments

1. Started Trucking Management Solution (TMS), a technology platform that acts as a

transformational marketplace + fulfilment solution to streamline supply chain for customers.

2. Upgraded FY25 EBITDA guidance to Rs. 18,800-18,900 Cr (previous guidance Rs. 17,000 – 18,000
Cr)

3. Other highlights – closure of Gopalpur & Astro acquisitions, Tanzania concession, commencement
of Vizhinjam operations

19
1. Launched Trucking Management Solution

• Launched TMS, an in-house technology and service platform

• TMS acts as a transformational marketplace + fulfilment solution to streamline supply chain for customers

• TMS offers an easy-to-use marketplace interface that can seamlessly connect with customer systems and deliver end-to-
end trucking solutions, including real-time tracking

• The marketplace is backed by APSEZ’s SLA-based fulfilment assurance and offers a wide range of fleet and commodity-
related options to customers

• TMS is already being used across group volumes and external clients

• While restricted to trucking initially, TMS will eventually cut across the value chain, making APSEZ a truly integrated
Transport Utility

20
TMS - A transformational marketplace + fulfilment approach to streamline
supply chain for customers

• In-house, integrated portal

that offers easy-to-use • Multiple fleet
interface for customers configuration (container • Started in Q3 with one
• Order to Invoice functionality trailers, bulkers, tippers, external partner,
• Paperless transactions etc.) besides own group
• Portal can integrate with Marketplace • Multiple commodities volumes
customer ERP / government Fulfilment (coal, clinker, fly ash,
development
websites cement, containers, etc.) • Will expand to
• Enables customs clearance • SLA-driven replicate with multiple
• Inbuilt scheduler and fleet • Full-load and partial-load trucking customers
optimizer shipment
• Real-time shipment tracking • In due course of time,
• 24*7 customer support the solution will cover
• Route optimizer the full logistics chain
• In-built analytics tool to – beyond trucking
determine freight rates

21
2. Upgraded FY25 EBITDA guidance

FY25 EBITDA guidance upgraded significantly to Rs. 18,800-18,900 Cr (previous guidance - Rs. 17,000 – 18,000 Cr)

22
3. Other strategic highlights

• Closed Gopalpur and Astro Offshore transactions worth Rs.4,600 Cr

o APSEZ completed the acquisition of 95% stake in Gopalpur Port enhancing presence along the Eastern coast of India. As a
deep-draft, multi cargo port the port plays an important role in supporting the growth of mineral based industries in its’
hinterland

o Completed acquisition of 80% stake in Astro Offshore group. This investment is in-line with the company’s strategy to
increase its’ footprint in the global marine service market

• Vizhinjam port commenced commercial operations, post extensive trials. During the trial period, the port handled 70+ vessels and
147,000+ containers. The port achieved a significant milestone in this period, with the arrival of M.V. MSC Anna, marking the
handling of 10,330 TEUs in a single vessel exchange. The port also docked the largest cargo ship ever to arrive in South Asia (MSC
Claude Girardet)

• Signed 30-year concession agreement to manage container terminal at Dar es Salaam port

• Commenced O&M operations at the Syama Prasad Mookerjee Port’s Netaji Subhas dock, following successful bidding for container
handling operations at the port

• Signed 30-year concession agreement with Deendayal Port Authority for developing Berth No.13. Construction work is under
progress
• Placed India’s largest order for 8 harbour tugs under the Make In India initiative for Rs. 450 Cr with Cochin Shipyard Ltd. The
contract value is estimated to be at Rs. 450 Cr and deliveries are scheduled to begin in December 2026 and continue until May
2028 23
 C2
Debt profile

STRICTLY CONFIDENTIAL
 Debt maturity profile

10 Years LTD Maturity Profile as on 31st Dec’24 (INR Cr)

FFO + Cash 22,7841

12,010

FFO 12,9671

6,560 6,704
5,831

3,044 2,704 2,621

302 44 250

FY25 (Jan - FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34
Mar)

Current level of FFO exceeds the annual loan repayments; no refinance risk

25
FFO (Funds from operation) : EBITDA – Interest and Tax paid in cash + Interest & dividend received in cash; 1 - Pertains to FY24; The above debt maturity amount is without Ind AS adjustments.
 Debt ratios (in INR Cr)

Gross Debt, Net Debt & Average Maturity Net Debt to EBITDA

49,819 3.3
6.0 7.0
45,453 46,279 45,653 3.1
40,072 2.9 3.0
36,462 37,928
34,401 5.5
31,666 2.3
28,472 4.6 4.5 2.1

Mar'21 Mar'22 Mar'23 Mar'24 Dec'24

Net Debt Gross Debt Average Maturity (years) FY20 FY21 FY22 FY23 FY24 9M FY25

FFO* / Gross Debt FFO* Interest Coverage

33% 7.0
5.7 5.6
28% 5.1
4.5
22%
21%
18% 3.0
14%
14%

FY21 FY22 FY23 FY24 9M FY25 FY21 FY22 FY23 FY24 9M FY25

FFO / Gross Debt Acceptable Level FFO Interest coverage Acceptable Level

Investment grade rating maintained despite investments of Rs 700 Bn in the last 4 years and various externalities impacting
financial markets
26
*FFO (Funds from operation) : EBIDTA – Interest and Tax paid in cash + Interest & dividend received in cash |
 Comprehensive credit rating coverage

Global rating agencies Domestic rating agencies

AAA / Stable
Baa3 / Negative
AAA / Stable
BBB- / Negative
AAA / Stable

BBB- (RWN)
AAA / Stable

27
Note: RWN – Rating Watch Negative
 C3
ESG & governance

STRICTLY CONFIDENTIAL
Sustainability is at the core of our operations
Guiding Principles ESG Ratings
Industry Ranking
CEO Water United Nations SBTi-based net Rating Agency Rating/Score
(Global level)
Mandate Global Compact zero targets
68 Top 97 Percentile
India Business & IFC E&S
UN Sustainable
Biodiversity Performance
Development Goals
Initiative (IBBI) Standards
Climate Change A- Leadership

Disclosure Standards
ISSB GRI Standards BRSR <IR> Supply Chain A- Leadership
TCFD

Climate Action Road Map 11.3 Top 95 Percentile

Operation & Maintenance Excellence 62 1st Rank

Ranked in 2nd
C+
Decile

Governance driven by Independent Directors

Net Audit
100% independent directors
Electrification Zero by 1000 MW RE Plant Committee

2040
Corporate Responsibility
100% independent directors
Committee

29
RE: Renewable Electricity
 D
Catalysts driving market leadership position

STRICTLY CONFIDENTIAL
 Growth opportunity in logistics is immense

Fastest growing economy with large consumer base We have a pan-India logistics presence
Fastest Growing Large Economy Large Consumer Base
G20 Real GDP CAGRs, 2015 to 2022 (%) Top 10 Countries by Population, 2022 (b)

Future outlook for India is India is #1

7.2% 7.2%
even stronger 1.42 1.41
6.3%
Moga
4.9%
Kanech
Kotkapura
3.3% Kilaraipur Kaithal
2.8% 2.7% Panipat
1.9% Tauru Dhamora
0.33
0.28 0.24
0.8% 0.22 0.22 0.17 Patli &
0.7% 0.14 0.13 Samastipur &
Loni Palwal Kannauj Darbhanga
Kishangarh

IND CHN IDN USA AUS DEU MEX KOR GBR TUR IND CHN USA IDN PAK NGA BRA BGD RUS MEX Patna
Katihar
Virochannagar Vidisha | Harda
needing critical infra in transport and logistics Hoshangabad |
Satna Ujjain | Kolkata
Indore
Mundra Dewas
High logistics cost Tumb &
Logistics spends as a % of GDP Valvada
Nagpur
Mumbai
Transportation accounts for Taloja
~ 70% of direct logistics costs

13%

Investment in Logistics
sectors will drive Kattupalli
8%
efficiency gains to offset Rail tracks
investment Elavur
Logistics Parks
Malur
Warehouse
Coimbatore
Agri Silos

India USA

We aim to reduce logistics cost as % of GDP thereby enabling significant savings for our customers
31
Note: Map not to scale
 Strategic partnerships & sticky cargo
Strategic Partnerships Sticky Cargo Share
Year Company Name Partner & Stake

Adani International
MSC
2011 Container
(50%)
Terminal Pvt Ltd 408
60%
Adani CMA Mundra 54% 56%
CMA-CGM
2014 Terminal 337
(50%) 49% 319
Pvt Ltd 312

Dhamra LNG Terminal Total Energies

2019
Pvt Ltd (50%) 230

183 190
Colombo West John Keells & Sri
2022 International Lanka Port Authority 155
Terminal (Pvt) Ltd (34% & 15%)

Gadot Group
2022 Haifa Port Company
(30%)

Indian Oil Adani

2022 IOCL (49%) FY22 FY23 FY24 9M FY25
Ventures Ltd
Sticky Cargo Total Cargo Sticky Cargo (%)

Ennore Container
2024 MSC (49%)
Terminal Pvt Ltd

AD Ports Group &

East Africa Gateway
2024 East Harbour
Limited (EAGL)
Terminals Ltd (70%)
32
Note: Sticky cargo data pertains to APSEZ domestic cargo volumes; IOCL – Indian Oil Corporation Limited
 Quality assets

Top 10 ports of India include Mundra & Krishnapatnam Marine & Logistics assets

FY09 FY14 FY19 FY24 Current scale (Q3 FY25)

Kandla Sikka Mundra Mundra India’s leading third-party

Tugs 117
marine services provider
Sikka Mundra Sikka Paradip India’s largest capital
Dredgers 28
dredging capacity
Vizag Kandla Kandla Kandla
31 Tier-I EPC and O&G
OSVs
customers
Chennai Paradip Paradip Sikka
Current scale (Q3 FY25)

JNPT JNPT JNPA JNPA

Largest private container
Trains 132
Kolkata Mumbai Vizag Vizag train operator

MMLPs 12 Covering all key markets

Mumbai Vizag Kolkata Mumbai

Paradip Chennai Mumbai Kolkata Grain Silos 1.2 MMT Dominant player

State of the art Grade A

Mormugao Kolkata Krishnapatnam Krishnapatnam Warehousing 3.1 Mn. Sq. Ft. warehousing

New New Asset-light model , launched

Chennai Chennai Trucking 936 Trucking Management Solution
Mangalore Mangalore

• Mundra Port is the largest commercial port and container port of India
• Mundra & Krishnapatnam are some of the deep draft water ports (17-18m • 70% market share in third party marine services
depth) in APSEZ portfolio
• APSEZ is operator of Inda’s first dedicated transshipment hub – • Extensive logistics footprint providing deep hinterland connectivity
Vizhinjam Port – to be commissioned in FY25

33
Note: 9M FY25 ranking is same as FY24 rankings
‘Future-ready’ with integrated tech platforms

Automated container Fleet management

Port ops management Real-time rake tracking Digital customer portal
depot mgmt. (TOS) system

Middleware integrating all our systems

Port Community System (PCS)
Command & Control / ITUP
(Central platform to plan & monitor (Gateway for all external
end-to-end operations) stakeholders for track & trace,
bookings, payments etc.)

Asset Operating Customer Compliance &

Key Benefits
utilization efficiency service governance
34
 E
Operational highlights

STRICTLY CONFIDENTIAL
Other highlights – 9M FY25

• APSEZ clocked 332 MMT (+ 7% YoY) cargo volume in 9M FY25. The growth was primarily driven by container volume (+19%
YoY)
• In the same period APSEZ handled 27.2% of the country’s total cargo and 45.2% of container cargo
• Mundra Port has achieved a remarkable milestone by handling 100 MMT of cargo in just 181 days. In November 2024, the
port reached another significant milestone by handling 396 vessels and executing 845 vessel movements making it the
highest ever monthly achievement. The port also exported a record breaking 5,405 cars in a single consignment. With a
productivity rate of 116 cars per hour, this was one of the largest orders in the country
• Karaikal Port achieved a new record in October 2024 by handling 257 rakes and evacuating 9.62 Lakh tonnes cargo. This
surpasses the port’s previous record (243 rakes, 8.59 Lakh tonnes cargo) of October 2023
• Dhamra Port set a new record by handling 35 rakes in a single day. This set a new standard in operational efficiency with 21
loaded rakes, 1 BCN and 13 unloading/release rakes
• In December 2024, Karaikal Port welcomed the deepest vessel to ever dock at this port - fully laden Panamax vessel MV
Ripley Pioneer boasting a draft of 14.24 meters and carrying 76,506 Metric tonnes of coal
• Gangavaram Port has officially launched its’ container terminal operations with the inaugural EXIM vessel call of MV Synergy
Keelung
• Dhamra port handled highest ever monthly volume of 4.6 MMT in July 2024
• Kattupalli port handled highest ever monthly volume of 1.4 MMT in August 2024

36
Other highlights – 9M FY25
• Logistics handled container volumes of 0.48 Mn TEUs (up 9% YoY), and bulk cargo of 16.1 MMT (up 13% YoY). In December
2024, Adani Logistics Ltd. handled the highest ever container volume – 59,061 TEUs

• Container volumes handled at MMLPs increased by 19% YoY to 3,33,419 TEUs

• ALL also established 5 new circuits in Q3 FY25. Received regulatory approvals at Loni MMLP to handle domestic cargo and
operationalized second handling line at Kilaraipur MMLP

• MMLPs in Nagpur, Loni and Virochannagar posted highest ever monthly volume in December 2024

• Received FCI approval for Samastipur agri-terminal to be used as Private Freight Terminal (PFT)

• Established state-of-the-art Logistics ‘Strategic Command Centre’ in Ahmedabad. This center acts as a primary information
hub for all logistics operations and leverages advanced data analytics to improve turnaround time, increase asset utilization,
monitor SLA adherence and maintain safety standards, thus enhancing customer experience

• Rakes count increased to 132 (Container: 68, GPWIS: 54, Agri: 7, AFTO: 3) from 127 as of FY24 end

• MMLP count – 12

• Warehousing capacity increased to 3.1 million sq. ft. (from 2.4 million sq. ft as of FY24 end)

• Agri silo capacity stood at 1.2 MMT and is expected to increase to 1.3 MMT by FY25 with the commissioning of two new
silos. Construction activity is underway to increase the capacity to 4 MMT

• In October 2024, Mundra Port set a record by handling 1,857 trains which included 1,611 container trains and 246 goods
trains. This surpasses last year’s record of 1,852 trains

37
Key awards reflecting operational excellence – 9M FY25

• APSEZ has made it to the Global Top 10 in Transportation & Transportation Infrastructure in the 2024 S&P Global Corporate
Sustainability Assessment, ranking in the 97th percentile. APSEZ is also the only Indian company in the Top 10 within this
sector and it maintained #1 rank in Environment dimension for the second year running
• Krishnapatnam, Gangavaram, Goa, & Dhamra ports won the Greentech Foundation’s Pollution Control and Waste
Management Reduction Excellence Award
• Mundra, Krishnapatnam, Hazira, & Kattupalli ports ranked in the top 100 globally in the World Bank’s Container Ports
Performance Index
• APSEZ received the “Excellence in Ports Infrastructure” award at ABP Live India Infrastructure Conclave 2024
• Ocean Sparkle Ltd. won ‘The Maritime Standard Excellence Award’ at the Esteemed Star of the Industry Awards and has also
been named as ‘Best Employer of Offshore Fleet’ at the Seajob Indian Anchor Awards 2024
• Mundra Port received the esteemed ‘Blue Planet Award -2024’ for ‘Sustainability Excellence in Port Operations’ at the
OilSpillIndia 2024 event
• Mundra Port received the ‘Shipping Terminal of the year Award’ at the 11th International Samudra Manthan Awards 2024;
‘Port of the year – containerized cargo’ at the EXIM Star Awards 2024; and was recognized at the Kutch Business Excellence
Award 2.0 for excellence in infrastructure development, and collaborative CSR projects. It also received the “Non-Major Port
of the Year” award for both Containerized Cargo and Non-Containerized Cargo at the 14th All India Maritime and Logistics
Awards and the Platinum Award in the ‘Environment Preservation’ category at the 16th Exceed Awards 2024 in Hyderabad
• Krishnapatnam Port won the ‘Sustenance Organization Award’ at the QCFI Tirupati Chapter Meet. This award recognizes
commitment to quality and continuous improvement
• Dhamra port received the Golden Peacock Occupational Health & Safety Award

38
Port Volume – Q3 & 9M FY25
In MMT Q3 FY25 Q3 FY24 YoY 9M FY25 9M FY24 YoY
Domestic Volume 106.5 105.9 1% 318.7 302.1 5%
International Volume 6 2.7 118% 13.6 9.1 50%
APSEZ volume 112.5 108.6 4% 332.5 311.2 7%

In MMT Q3 FY25 Q3 FY24 YoY 9M FY25 9M FY24 YoY

Total Domestic Volume 106.5 105.9 1% 318.7 302.1 5%
East Coast Volume 42.1 44.9 -6% 125.2 128.5 -3%
East Coast % share 39% 42% 39% 43%
West Coast Volume 64.5 61.0 6% 192.2 173.6 11%
West Coast % share 61% 58% 61% 57%

In MMT Q3 FY25 Q3 FY24 YoY 9M FY25 9M FY24 YoY

Total Domestic Volume 106.5 105.9 1% 318.7 302.1 5%
Mundra Volume 48.8 47.8 2% 149.9 133.7 12%
Mundra % share 46% 45% 47% 44%
Non-Mundra Volume 57.7 58.1 -1% 167.5 168.4 -1%
Non-Mundra % share 54% 55% 53% 56%

In MTEUs Q3 FY25 Q3 FY24 YoY 9M FY25 9M FY24 YoY

Domestic Container Volume 2.8 2.4 17% 8.3 7.1 16%
International Container Volume 0.38 0.19 101% 0.89 0.56 60%
APSEZ Container Volume 3.2 2.6 23% 9.1 7.7 19% 39
Diversifying cargo portfolio
43%
41% 41%
41% 41%
38% 38% 37%

38% 34%
33% 33% 33% 36%
32% 32%

17%
16%
15% 15%
13% 13% 13%
12%
11%
9%
11% 11% 8%
7%
6% 6%

3% 2% 3% 3% 3% 3% 2% 2%
0% 1% 0% 1% 2% 2%

FY18 FY19 FY20 FY21 FY22 FY23 FY24 9M FY25

Dry (Coal) Dry (Othen than coal) Liquid (excl. Crude) Crude Gas Container

40
Container cargo drives growth – Q3 & 9M FY25
Q3 FY25 cargo volume

7.9 1.3 0.5 0.3 112.5

108.6 2.5 0.8
-0.2 -0.3 0.0
-8.2 -0.8

Container Coastal Coal Minerals Agri Crude (incl. RORO

Q3 FY24 Coking Coal EXIM Coal Fertilizers Other Dry Gas) Other Liquid Q3 FY25

9M FY25 cargo volume

22.0 0.3 2.2 0.1 0.4 1.6 0.9 0.0 332.4

311.2
-0.3 -4.2 -1.9

Container Coastal Coal Minerals Agri Crude (incl. RORO

9M FY24 Coking Coal EXIM Coal Fertilizers Other Dry Gas) Other Liquid 9M FY25

41
 F
Financial highlights

STRICTLY CONFIDENTIAL
Consolidated financial performance – SEBI format

43
 JV Financial performance – Q3 & 9M FY25 (in INR Cr)

Quarterly performance
Q3 FY24 Q3 FY25
Particulars Revenue EBITDA^ PAT Revenue EBITDA^ PAT
APSEZ Consolidated 6,920 4,186 2,208 7,964 4,802 2,518
JVs
AICTPL (CT-3), JV with MSC 491 261 184 439 233 118
ACMTPL (CT-4), JV with CMA-CGM 243 145 72 241 136 63
IAVL, JV with IndianOil 138 87 41 143 82 56
Dhamra LNG, JV with TOTAL 140 8 -151 187 110 -59
AECTPL, JV with MSC - - - 65 22 -9
YTD performance
9M FY24 9M FY25
Particulars Revenue EBITDA^ PAT Revenue EBITDA^ PAT
APSEZ Consolidated 19,814 11,820 6,089 22,590 14,019 8,038
JVs
AICTPL (CT-3), JV with MSC 1,418 755 501 1,366 732 460
ACMTPL (CT-4), JV with CMA-CGM 679 398 177 709 410 201
IAVL, JV with IndianOil 479 267 92 411 251 149
Dhamra LNG, JV with TOTAL 317 29 -310 501 264 -234
AECTPL, JV with MSC - - - 132 42 -19
44
^ EBITDA is excluding forex
 Key segment-wise operating revenue & EBITDA – Q3 FY25 (YoY, in INR Cr)

Domestic Ports International Operations SEZ & Port Development

73%
71%
1,123 100%
5,994 154
5,534
812
4,356 57%
3,944
87

18%
198 10% 25 25
80

Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24

Revenue EBITDA EBITDA % Revenue EBITDA EBITDA % Revenue EBITDA EBITDA %

Logistics Particulars Trucking Other Logistics

693 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24

529

Revenue 106 42 587 487

23%
28%
161 146 EBITDA 10 4 151 142

Q3 FY25 Q3 FY24 EBITDA % 9% 10% 26% 29%

Revenue EBITDA EBITDA % 45

EBITDA excludes forex loss
 Key segment-wise operating revenue & EBITDA – 9M FY25 (YoY, in INR Cr)

Domestic Ports International Operations SEZ & Port Development

92%
72% 72% 2,769
17,172 798
2,378 731
15,498

12,435
11,092

362

14% 17%
392 10%
247 60

9M FY25 9M FY24 9M FY25 9M FY24 9M FY25 9M FY24

Revenue EBITDA EBITDA % Revenue EBITDA EBITDA % Revenue EBITDA EBITDA %

Logistics Particulars Trucking Other Logistics

1,852
9M FY25 9M FY24 9M FY25 9M FY24
1,519

Revenue 198 103 1,654 1,416

25%
29%
461 435 EBITDA 7 8 454 427

9M FY25 9M FY24 EBITDA % 4% 8% 27% 30%

Revenue EBITDA EBITDA %
46
EBITDA excludes forex loss
FY25 Guidance

FY25 Guidance

Cargo 460-480 MMT

Revenue Rs 29,000-31,000 Cr

Rs 18.800-18,900 Cr
EBITDA (previous guidance: Rs 17,000 –
18,000 Cr)

Capex Rs 10,500-11,500 Cr

Net Debt to EBITDA 2.2–2.5x

47
 G
ESG highlights

STRICTLY CONFIDENTIAL
Key ESG performance highlights

Indicator FY25 Target 9M FY25

Energy & Emission

RE share in total electricity^^ 100% 15%

Energy intensity reduction* 50% 56%

Emission intensity reduction* 60% 57%

Water and Waste

Water consumption intensity reduction* 60% 61%

Zero waste to landfill** 12 Ports 6 Ports

Afforestation

Mangrove afforestation** 5000 Ha 4240 Ha

Terrestrial plantation 1200 Ha 1267 Ha

Social

Safety Zero Incident 3

❖ ^^200 MW of solar and 25 MW of hybrid capacity have been made available. installation of the remaining renewable capacity
is currently in progress
❖ APSEZ is targeting Net Zero by 2040
49
* Base Year -2016; ** Target increased, zero waste certification for additional ports are in progress;
ESG ratings

Climate Change [ A- ]
Moody’s Global ESG Institutional Investor
Water Security [ B ] Corporate sustainability Sustainalytics ESG Risk
rating Shareholders Esg Rating
Supplier Engagement Assessment [ 68 ] Rating [ 11.3 ]
[ 62 ] [C+] – Prime status
[ A- ]
• Achieved the Leadership • Scored 68 (out of 100) • Received low ESG risk • APSEZ ranked 1st • APSEZ has been awarded
level in both Climate and ranked in the 97th rating(11.3) given strong globally in Transport & ‘Prime’ status by ISS ESG
Change and supplier percentile in the management of ESG Logistics Emerging for the first time and
Engagement assessment transportation and risks Markets eligible for responsible
of 2023 transportation investment by ISS
infrastructure industry in • APSEZ ranked 1st among clients. Also made
• Achieved the the 2024 S&P Global • Overall placed in top 95 the Indian companies significant strides in its
Management level in Corporate Sustainability percentile among across all sectors ESG performance, with
Water Security Assessment (CSA Scores companies across all the its overall ESG rating
assessment of 2023 as of 28/01/2025) sectors globally • APSEZ has been ranked being upgraded to C+
1st among 59 Indian from C, positioning it just
• As of 28th January 2025, companies and 9th one step away from the
Achieved the highest among 844 companies in industry’s best rating of
score of 89/100 on the the Emerging Markets B-
Environmental pillar globally across all sectors
amongst the companies • APSEZ was ranked
assessed in among the top 12
transportation and companies in
transportation transportation
infrastructure industry infrastructure

[ XX ] – ESG Rating in 2023; A- : Leadership Level; B : Management Level;

50
 H
Annexure

STRICTLY CONFIDENTIAL
 Port-wise cargo and financial details

STRICTLY CONFIDENTIAL
Port volume – Q3 & 9M FY25 (1/5)
1 Mundra

Q3 FY24 Q3 FY25 9M FY24 9M FY25

7.0 7.7 22.4 24.3

MMT MMT MMT MMT
29.0 MMT 31.2 MMT
+ 2.2% 82.2 MMT + 12.1% 94.3 MMT
47.7 MMT 9.7 48.8 MMT
12.1
MMT 28.6 MMT 31.4
MMT MMT

133.7 MMT 149.9 MMT

2 Dhamra

Q3 FY24 Q3 FY25 9M FY24 9M FY25

0.9 0.9 3.2 3.1
MMT MMT MMT MMT

+ 0.5% + 12%
11.3 MMT 11.4 MMT 27.9 31.6
MMT MMT

10.4 MMT 10.5 MMT

31.1 MMT 34.8 MMT

Container Liquid (with Crude) Dry cargo 53

Port volume – Q3 & 9M FY25 (2/5)
3 Hazira
Q3 FY24 Q3 FY25 9M FY24 9M FY25

1.1 1.2 3.3 3.4

MMT MMT MMT MMT
8.6
9.0
MMT + 2.6% MMT
2.9 3.0 8.0 8.7
6.3 MMT MMT + 13.5% 7.1 MMT MMT MMT MMT
2.3
MMT 2.9
MMT

20.3 MMT 20.8 MMT

4 Dahej

Q3 FY24 Q3 FY25 9M FY24 9M FY25

2.8 MMT -11.1% 2.5 MMT -6.7%

8.4 MMT 7.8 MMT

Container Liquid (with Crude) Dry cargo 54

Port volume – Q3 & 9M FY25 (3/5)
5 Krishnapatnam
Q3 FY24 Q3 FY25 9M FY24 9M FY25
0.4 1.6 2.1 0.3
0.6 0.7 1.7 MMT MMT
MMT MMT MMT MMT
MMT

14.2 MMT -11.4% 12.6 MMT 40.3 -3.6%

MMT 39.6 MMT

13.2 MMT 11.9 MMT

43.6 MMT 42 MMT

6 Kattupalli

Q3 FY24 Q3 FY25 9M FY24 0.4 9M FY25

0.4
0.6 MMT 0.7 MMT
0.2 0.2 0.1 MMT MMT
0.1 MMT MMT
MMT MMT

+ 22.5% 9.3
2.8 MMT + 11.6% 3.1 MMT 7.6
MMT MMT

2.5 2.8
MMT MMT
8.5 MMT 10.4 MMT

Container Liquid (with Crude) Dry cargo 55

Port volume – Q3 & 9M FY25 (4/5)
7 Gangavaram
Q3 FY24 Q3 FY25 9M FY24 9M FY25
0.2 MMT 0.3 MMT

9.4 MMT 7.3 MMT 18.5

-21.9% -31.6% MMT

7.1 MMT

27.5 MMT 18.8 MMT

8 Karaikal

Q3 FY24 Q3 FY25 9M FY24 9M FY25

3.7 MMT 3.2 MMT

-13.4% -1.4%

9.4 MMT 9.2 MMT

Container Liquid (with Crude) Dry cargo 56

Port volume – Q3 & 9M FY25 (5/5)

9 Gopalpur 10 Vizhinjam

Q3 FY25 9M FY25 Q3 FY25 9M FY25

1.3 MMT 2.4 MMT

1.3 MMT 3.2 MMT

MMT MMT

Container Liquid (with Crude) Dry cargo 57

Financials – Q3 and 9M FY25
Rs Cr Revenue EBITDA EBITDA margin Revenue EBITDA EBITDA margin
Q3 Q3 Q3 Q3 Q3 Q3 9M 9M 9M 9M 9M 9M
Port
FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24
Mundra 2,184 1,887 1,645 1,244 75% 66% 5,877 4,843 3,972 3,228 68% 67%

Dhamra 553 562 357 372 65% 66% 1,718 1,488 1,066 958 62% 64%

Hazira 505 394 355 274 70% 70% 1,424 1,261 1,033 910 73% 72%

Krishnapatnam 668 745 333 485 50% 65% 2,251 2,251 1,425 1,584 63% 70%

Kattupalli 98 88 63 58 65% 66% 316 245 210 157 66% 64%

Karaikal 152 194 113 143 74% 74% 468 476 345 336 74% 70%

Dahej 155 169 97 113 62% 67% 469 477 305 326 65% 68%

Gangavaram 286 399 21 266 7% 67% 695 1,153 220 795 32% 69%

Gopalpur 123 - 75 - 61% - 123 - 75 - 61% -

Logistics 693 529 161 146 23% 28% 1,852 1,519 461 435 25% 29%

Harbour 827 708 715 615 86% 87% 2,460 2,028 2,166 1,769 88% 87%

58
Thank You
Details Annexed in Linked File
1. Port-wise Cargo Volume Break up Q3 FY25
2. Ports and Logistics Vertical Key Financial Performance Q3 FY25

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