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Adani Ports and Special Economic Zone Limited
Sector:Infrastructure Facilities Infrastructure Facilities - Special Economic Zones
BSE:532921NSE:ADANIPORTSBloomberg:ADSEZ@INReuters:APSE.BO
Market Lot: 1Face Value: 2ISIN Demat: INE742F01042
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27-Jul-2018
Business Profile
Mundra Port and Special Economic Zone, part of the Adani group, is the developer and operator of Mundra Port in Gujarat. The company was incorporated as Gujarat Adani Port on May 26, 1998 and got its current name on July 7, 2006.

The Mundra port is one of the leading non-captive private sector ports in India based on volume of cargo during fiscal 2007. Located in the Kutch district of Gujarat, the company is engaged in providing port services for bulk cargo, container cargo, crude oil cargo, and value-added port services including railway services. It has exclusive right to develop and operate Mundra port and related facilities until February 2031. The company is to develop a multi-product SEZ in Mundra and the surrounding areas on approximately 6,568 acres of land. In addition, the company also generates income from land-related and infrastructure activities.

The company has a long-term agreement with IOCL to handle crude oil. It constructed the Mundra-Adipur railway which transports bulk and container cargo from the Mundra port to inland cargo centers via the Indian railway network. Till June 30, 2007, Mundra Port has handled approximately 62.6 million tons of cargo comprising of approximately 42.2 million tons of bulk cargo, 5.6 million tons of crude oil cargo and 14.8 million tons of container cargo. In 2006, the company was awarded the title of Best Port Authority in the Middle East and Indian Subcontinent by Lloyd`s List.

The company has customers like the Container Sub-concessionaire,
IOCL, Indian Railways, Indian Farmers Fertilisers Cooperative, Food Corporation of India and some of the Adani Group companies such as Adani Enterprises and Adani Wilmar.

The registered and corporate office is at Adani House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad-380009.


Financials
The company reported rise of 19.22% in consolidated net profit on y-o-y basis to Rs 10.01 billion, while total income increased 20.39% y-o-y basis to Rs 29.25 billion for the quarter ended December 2017.

Recent Developments
27-JUL-18
Adani Ports and Special Economic Zone (APSEZ), India's leading port infrastructure developer and part of the Adani Group, today said it had signed a long term agreement with GAIL (India), the state run gas company, to provide Liquefied Natural Gas (LNG)

17-JUL-18
Adani Logistics (ALL), a subsidiary of Adani Ports & SEZ (APSEZ) have signed an agreement with NYK Auto Logistics (India) Private (NALI) to form a joint venture which specializes in transportation of finished vehicles using Automobile Freight Trains, and concluded an agreement for the establishment of this joint venture.

29-JUN-18
Adani Ports and Special Economic Zone, (APSEZ), India's largest port developer and part of the Adani Group, announced that it has executed Share Purchase Agreement between Larsen and Toubro (L&T), Marine Infrastructure Developer, L&T Shipbuilding and Adani Kattupalli Port Private to acquire 97% shares of Marine Infrastructure Developer Private (MIDPL). MIDPL is the developer and operator of Kattupalli Port.

17-APR-18
Adani Ports and Special Economic Zone (APSEZ), India's leading port infrastructure developer and part of the Adani Group, said it had signed a long term agreement with Indian Oil Corporation (IOC) to provide Liquefied Natural Gas (LNG) regasification services on a use or pay basis to the state-run refiner, at its upcoming LNG import terminal at Dhamra in Odisha.

20-JUN-17
Fitch Ratings has assigned India-based Adani Ports and Special Economic Zone (APSEZ, BBB-/Stable) proposed senior unsecured US dollar notes an expected rating of 'BBB-(EXP)'.

26-APR-17
Adani Ports and Special Economic Zone (APSEZ), India's leading port infrastructure developer and part of the Adani Group, today achieved a new milestone in the ports infrastructure industry in India, with a strategic collaboration with CMA Terminals (CMAT), part of the France based CMA CGM group, owner of one of the world's leading Container Carriers and port operators.

20-APR-17
Adani Logistics, a subsidiary of Adani Ports and Special Economic Zone (APSEZ) and part of Adani Group, a global integrated infrastructure player, today said it had commissioned and commenced

28-FEB-17
ICRA has reaffirmed the long term rating on the Rs 100.20 billion bank facilities and Rs 53.34 billion (reduced from Rs 68.84 billion) Non Convertible Debenture Programme of Adani Ports and Special Economic Zone (APSEZL) at [ICRA]AA+ (pronounced ICRA double A plus). The outlook on the long term rating has been revised to 'Stable' from 'Negative'.



Future Plans
The company will use the IPO issue funds to construct and develop basic infrastructure and allied facilities in the proposed SEZ at Mundra;l construct and develop a terminal for coal and other cargo at Mundra Port; contribute towards investment in Adani Petronet (Dahej) Port; contribute towards investment in Adani Logistics; and contribute towards investment in Inland Conware.


In Brief

 
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