Adani Ports and SEZ Limited Operational and Financial Highlights H1 - PowerPoint PPT Presentation

Adani Ports and SEZ Limited Operational and Financial Highlights H1 and Q2 FY20

Contents + Company Profile + Operational Highlights + Financial Highlights + FY 20 Outlook + ESG & CSR + Annexures 2 2

APSEZ’s Throughput Curve 208 MMT in FY 19 to 400 MMT by FY 25 12% 3 3

Company Profile 4 4

APSEZ – Proxy to India’s Growth Story in USD Bn. Largest Commercial Port in India : 10.8 • 9 Ports in operation and 2 under Market Cap. (2) construction 5.3 2019 2.5 2013 Professional Management : 2009 • Operating ports since 2001 1.6 0.6 Operational Excellence with Low- Revenue (3) Cost : 2019 0.3 2013 • Highest EBITDA margins amongst peers 2009 Successful Track Record of Integrating Acquisitions: • Dhamra in FY 15 and Kattupalli in FY 16 8.1 3.9 Total Assets (4) Investment Grade International 2019 Ratings : 1.4 2013 • (S&P: BBB- Stable / Fitch: BBB- Stable / Moody’s: Baa3 Stable) ( 1) 2009 Note: (1)Source: S&P press release dated 21 June, 2019. Moody’s press release dated 16 th July, 2019. Fitch press release dated 24 th July , 2019. 5 (2)Market Cap on 31 st Mar, 2019. USD / INR exchange rate on 31 st Mar, 2019 was Rs.69.15. 5 (3)Revenue for the financial year ended March 31, 2019. Revenue refers to the total revenue from APSEZ operations minus other income. USD / INR exchange rate on 31 st Mar, 2019 was Rs.69.15. (4)Total Assets as on March 31, 2019. USD / INR exchange rate on 31 st Mar, 2019 was Rs.69.15.

APSEZ – India’s Largest Integrated Ports & Logistics Player “String of Ten Ports ” across India’s Coastline with four logistics parks Market Share in India * Mundra : India’s Multipurpose ports Kilaraipur largest Kanech Total Cargo Bulk terminals Commercial Port Mundra : India’s Container terminals Kilaraipur largest Kanech Patli Commercial Port Logistics Parks Kishangarh 22% Patli Kishangarh Mundra Tuna Dahej Mundra Hazira Tuna Dahej Dhamra Mormugao Hazira Container Dhamra Mormugao Yangon, Vizag Myanmar (1) 35% Kattupalli Ennore Vizhinjam (1) Note: 1. Under construction. 6 * As of 30.09.2019 (Source : Internal Estimate, Excluding non Adani and coastal LNG, LPG Volume) 6

APSEZ – Unique and Integrated Business Model Logistics Ports SEZ (at Mundra)    20 year license to operate rails, GPWIS (1) and Land bank of over 8,481 hectares Total installed capacity of 395 mmtpa  AFTO (2)  Integration with port, developing industry Concession assets with free pricing  Enhancing connectivity between ports and cluster  origin / destination of cargo Regular revenue stream through annual rentals Infrastructure Marine Quay Handling Storage Logistics      18 dredgers 14+KM length 50 Bulk handling cranes 4.2 MN sq. mtrs. bulk 4 Logistics Parks     24 tugs 47 berths 145 RTGs (3) storage area 51 rakes, 16 locomotives     18 terminals 24 stackers and reclaimers 0.9 MN KL tankages 83 silos storage   101 KM conveyors 51,385 container ground slots Delivering synergistic value through its integrated model across ports, logistics & SEZ business lines Note: 1. GPWIS – General Purpose Wagon Investment Scheme 7 2. Automobile Freight Train Operator 7 3.Rubber tyred gantry crane

Operational Highlights 8 8

APSEZ – Operational Highlights H1 FY 20 (YoY) Operational Highlights • Cargo volume of 109 MMT, 9% Growth • Cargo growth across all the three regions in India • Container volume grew by 10% • Dhamra port volume grew by 46% and Kattupalli volume grew by 17% • Cargo mix continues to be balanced- Coal 32%, Container 41% Crude plus other Cargo 27% • Market share increased by 100 bps- 22% of All India cargo and 35% of container volume Projects • Mundra Port :  Commissioned T2 container terminal with an initial capacity of 0.5 mn. TEUs  LPG terminal operations commenced with a capacity of 3.2 MMT (in Oct ‘19) • Kattupalli Port : Liquid tank farms operationalized (60,000 KL) • Hazira Port : Additional liquid tank farms operationalized 9 9

APSEZ – Operational Highlights H1 FY 20 (YoY) Acquisitions • Acquisition of Innovative B2B Logistics completed ESG Initiatives • Mr. Bharath Sheth inducted as an independent director • Continued focus on efficient use of water and energy from cleaner sources. Reduction in • emission levels. On standalone basis energy intensity reduced by 7% and emission intensity • reduced by 6% Awards • Mundra port won “Maritime Gateway Container Port of The Year Award 2019 ” • APSEZ felicitated with ‘ Honorary Special Mention’ award at the first National CSR award ceremony organized by the Ministry of Corporate Affairs in New Delhi 10 10

APSEZ – Financial Performance Highlights H1 FY20 (YoY) P & L Highlights • Total Revenue Rs.5,616 cr. against Rs.5,019 cr. a growth of 12% • Port Revenue Rs.4,787 cr against Rs.4,240 cr. a growth of 13% • Total EBITDA Rs.3,634 cr. against Rs.3,292 cr. a growth of 10% • Port EBITDA Rs.3,358 cr against Rs.2,975 cr. a growth of 13% • Logistics EBITDA Rs.127 cr. against Rs.47 cr. a growth of 172% • Logistics EBIDTA margin at 29% against 15% • PAT of Rs.2,055 cr. , EPS of Rs.10.03 (60% growth over H1 FY19) Balance Sheet Highlights • Net Debt to EBITDA continues to be within the desired range, currently at 3x, • Capex of Rs.2,117 cr. – Within overall guidance of Rs.4,000 cr. for FY 20 • Cash flow from operations* as on H1 FY20 is at Rs.1641 cr. Vs Rs.957 cr. as of H1 FY19. Return to Shareholder • Successfully completed first buyback of 3.92 cr. equity shares at an offer price of Rs.500 per share. This was in addition to the 10% dividend paid to investors for FY 19. Thus, the total pay-out to the shareholders for FY19 increased to 50% compared to 11% in FY 18. 11 *After change in working capital and investing activities 11

Cargo Comparison – APSEZ vs All India Ports – H1 FY 20 APSEZ Total Throughput * All India Ports Total Cargo 9% Growth 5% Growth 109 506 482 100 Vs H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 Of which Container All India Container Volume 7% Growth 10% Growth 45 130 122 41 Vs H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 Continue to gain Market Share…. - *As per internal estimates. Excluding non Adani and coastal LNG, LPG Volume ( Cargo in MMT) 12 12

Cargo Composition – H1 FY 20 Coal Container Crude Others 47% 41% 41% 41% 37% 41% 32% 36% 29% 33% 33% 32% 17% 15% 15% 14% 15% 14% 13% 12% 12% 11% 10% 10% FY15 FY 16 FY 17 FY 18 FY 19 FY 20 H1 Balanced Cargo Mix……… 13 13

Financial Highlights H1 FY 20 14 14

Consolidated Financial Performance – H1 FY 20 (YoY - Rs. in cr.) Revenue EBIDTA* Revenue grew by 12% 5616 3634 5019 3292 EBITDA* grew by 10% H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 PAT PBT 2248 PBT grew by 31% 2055 1722 1296 PAT grew by 58% H1 FY 19 H1 FY 20 H1 FY 19 H1 FY 20 15 *EBIDTA excludes forex mark to market loss of Rs.477 cr. In H1 FY20 and Rs.953 cr. In H1 FY19 15

Segment Wise Revenue H1 FY 20 (YoY - Rs. in cr.) H1 FY 19 H1 FY 20 Total Revenue up 12% Australia, Australia, 213 244 Logistics, Logistics, 307 Other Other revenue, 438 revenue, 96 119 SEZ, 163 SEZ, 28 Ports Revenue up 13% Logistics Revenue Ports, 4,240 Ports, 4,787 up 43% Ports SEZ Logistics Australia Other revenue Total Revenue – Rs.5019 cr Total Revenue – Rs.5616 cr 16 16

EBIDTA* - Segment Wise Break up H1 FY 20 (YoY - Rs. in cr.) H1 FY 19 H1 FY 20 Total EBIDTA up 10% Other revenue, 96 Australia, 12 Australia, 22 Logistics, 127 Logistics, 47 100 Ports EBIDTA up 13% SEZ, 28 SEZ, 163 Logistics EBIDTA up 172% 2975 3358 Ports SEZ Logistics Australia Other revenue Total EBIDTA – Rs. 3,292 cr Total EBIDTA – Rs. 3,634 cr 17 *EBIDTA excludes forex mark to market loss of Rs.477 cr. In H1 FY20 and Rs.953 cr. In H1 FY19 17

Debt Profile & Key Rating Ratios – H1 FY 20 (Rs. in cr.) Description FY19 H1 FY20 Variance  Change in borrowings due to : Long Term Borrowings 19,884 26,182 6,298  USD 750 mn bond issuance Short Term Borrowings 6,188 4,762 (1,426)  Current Portion of Long Term Borrowings 1,116 318 (798) Restatement of fx. debt by Rs.484 cr. Gross Debt 27,188 31,262 4,074  B2B acquisition- Rs.285 cr. Total Cash & Cash equivalent 6,481 8,779 2,298  Net Debt to EBIDTA* at 3x. Net Debt 20,707 22,483 1,776 Forex Denominated Debt (in USD bn.) 1.95 2.7 Maturity profile of Long Term Debt 52%  Avg. maturity elongated to 5.92 years from 4.08 years as of 31 st Mar 2019 25% 22% 1% Less then 1 Year 1 to 3 Years > 3 to 5 Years More than 5 Years i) *calculated on an EBIDTA of Rs.3,634 cr.in H1 FY20 and Rs.3776 cr. in H2 FY19 (this excludes forex MTM loss) 18 18