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<ul><li><keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword>’ share price continued its upward rally, hitting a 52-week high as analysts gave it a thumbs up.</li><li>Adani Ports is India’s largest private multi-port operator and is a part of the Adani Group.</li><li>Adani Ports acquired <keyword id="487749" type="COMPANY" weightage="20" keywordseo="Krishnapatnam-port">Krishnapatnam Port</keyword> (<keyword id="117191" type="ORGANIZATION" weightage="20" keywordseo="KPCL">KPCL</keyword>) in October at an enterprise value of ₹12,000 crore.</li><li>Analysts expect a yield of up to three times from the KPCL asset.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>Shares of Adani Ports and Special Economic Zone hit a 52-week high as the largest private multi-port operator received a thumbs up from analysts. The <keyword id="6503313" type="UNKNOWN" weightage="20" keywordseo="Adani-Ports-share-price">Adani Ports share price</keyword> was up nearly 4% around 1 pm on December 7, continuing the stock’s upward rally over the last one month. Brokerages are bullish on the <keyword id="10323820" type="UNKNOWN" weightage="20" keywordseo="Adani-Ports-stock">Adani Ports stock</keyword>, expecting a faster-than-expected turnaround in the Krishnapatnam Port (KPCL) acquisition. <div type="image" title="Adani Ports share price" msid="79605225" hostid="261" caption="&amp;lt;p&amp;gt;Adani Ports share price&amp;lt;/p&amp;gt;"></div> Adani Ports had completed the acquisition of Krishnapatnam Port at an enterprise value of ₹12,000 crore in October this year. Adani Ports has improved the margins from 58.1% last year to 68.1% this year. This was achieved thanks to price hikes and improved operational efficiencies, as noted by the company in a recent analyst meet. <div type="Article" hostid="261" msid="78489124" title="Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company" mstype="2" mssubtype="0"></div> The Krishnapatnam boost Analysts at Kotak Institutional Equities expect a yield of 3 times of the invested value from the KPCL asset. The report further states ‘unbridled growth prospects’ lie ahead for Adani Ports from this investment. “Adani Ports has turned around its Krishnapatnam acquisition significantly ahead of our previous estimates, leading to an earnings upgrade,” Nomura India analyst Priyankar Biswas said in a note, according to a BloombergQuint <a href="https://www.bloombergquint.com/markets/this-caused-adani-ports-stock-to-hit-a-record-high">report</a>. The note issued by Jefferies observes that Krishnapatnam Port’s margins rose to 68% in the first six months of the financial year 2020-21. “Adani Ports showcased the management focus to improve Krishnapatnam Port’s (KPTL) margins from the current 68 percent to 80 percent by FY25E. KPCL is a value-accretive acquisition with 26 percent equity IRR even on our conservative 73 percent FY25E margin estimate,” Jefferies said, according to a CNBCTV18 <a href="https://www.cnbctv18.com/market/stocks/adani-ports-hits-52-week-high-on-bullish-brokerage-calls-7661051.htm">report</a>. Brokerages raise target price In a recently held analyst meet, Adani Ports stated that it has undertaken various measures to improve operational efficiencies, and re-negotiated tariffs with key customers, according to a Times Now <a href="https://www.timesnownews.com/videos/et-now/markets/adani-ports-krishnapatnam-port-turnaround-faster-than-estimates/82981">report</a>. As a result, various brokerages have revised their target prices upward, with an upswing of up to 15% to the Adani Ports share price. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Upside </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹540 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹530 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹525 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹495 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr></tbody></table> Source: Brokerages, MoneyControl Note: Upswing calculated based on share price as at 1 pm, December 7, 2020. SEE ALSO: <a href="https://www.businessinsider.in/business/news/adani-ports-completes-12000-crore-acquisition-of-krishnapatnam-port-company/articleshow/78489124.cms">Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company</a> <a href="https://www.businessinsider.in/business/news/adani-ports-lands-900-crore-through-non-convertible-debentures/articleshow/78058955.cms">Adani Ports lands ₹900 crore through non-convertible debentures</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-10-billion-ipo-will-double-walmart-investment-within-3-years/articleshow/79601513.cms">Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years</a>

Adani Ports is making 68% margin from one of its ports – the stock has doubled since lockdown

Ahmedabad (Gujarat) [India], November 9 (ANI): AdPorts and Special Economic Zone Ltd. (APSEZ) has reported robust financial results for the second quarter and the first half ending September 30, 2023, showcasing remarkable growth across key metrics. According to a press release by Adani, APSEZ witnessed a substantial YoY revenue growth of 26 per cent, reaching Rs 12,894 Crores during H1 FY24. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) recorded an impressive YoY growth of 49 per cent, amounting to Rs 7,429 Crores. Profit After Tax (PAT) increased by 33 per cent YoY, reaching Rs 3,881 Crores. The port EBITDA margin expanded by 220 basis points (bps) YoY to 72 per cent in H1 FY24. APSEZ achieved record cargo volumes of 203 MMT during H1 FY24 across its 8 ports and terminals. Mundra Port, the flagship port, celebrated 25 years of successful operations, handling over 16 MMT of cargo in a month and achieving the 4 Mn TEUs milestone in just 203 days. APSEZ expanded its logistics business, adding 11 rakes, Loni ICD, and warehouses at Mumbai and Indore during H1 FY24. Karan Adani, CEO and Whole Time Director of APSEZ expressed satisfaction with the company's outstanding performance, citing a 14 per cent YoY increase in cargo volume and improved operational efficiencies contributing to the 72 per cent domestic ports EBITDA during H1 FY24. Adani said, "APSEZ achieved another milestone by registering its highest ever half-yearly revenue of Rs 12,894 Crore, EBITDA of Rs 7,429 Crore and cargo volumes of 203 MMT during H1 FY24. The splendid performance was on the back of a 14 per cent YoY increase in cargo volume coupled with improving operational efficiencies at our ports, which has resulted in our domestic ports EBITDA improving by 220bps YoY to 72 per cent during H1 FY24." APSEZ's under-construction port in Sri Lanka secured a funding commitment of USD 553 million from the US International Development Finance Corporation (DFC). The logistics business recorded significant growth, with rail volumes up 25 per cent YoY and GPWIS volumes up 42 per cent YoY during H1 FY24. APSEZ achieved an emission intensity reduction of 48 per cent and a water intensity reduction of 58 per cent from the base year (FY2016) as of H1 FY24. The company completed a mangrove plantation of 4,200 Ha against its 2025 target of 5,000 Ha. S&amp;P (DJSI) provided APSEZ with a score of 65 (out of 100), ranking it in the top 4 per cent globally in the Transport and Transport infrastructure sector in its 2023 ESG assessment. APSEZ remains poised for sustained growth, with strong financials, strategic expansions, and a commitment to environmental sustainability. (ANI)

Adani ports and Special Economic Zone Ltd. records stellar H1 FY24 performance

AdPorts and Special Economic Zone on Thursday reported that its Profit After Tax or net profits during the just-concluded financial year 2023-24 grew by a whopping 50 per cent to Rs 8,104 crore. In 2022-23, they were at Rs 5,391 crore. During the fourth quarter January-March, the net profits grew 77 per cent to Rs 2,015 crore. Coming to the revenue from operations for the entire financial year and the fourth quarter, they grew 28 per cent and 19 per cent to Rs 26,711 crore and Rs 6,897 crore, respectively. 2023-24 has been a year of many new milestones for <keyword id="20038598" type="General" weightage="20" keywordseo="APSEZ" source="keywords" meta.keywordsubtype="org" meta.entityname="APSEZ" meta.hostid="261" meta.entityid="APSEZ">APSEZ</keyword> on both operational and financial metrics. <keyword id="20051210" type="General" weightage="20" keywordseo="Adani-Ports" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Ports" meta.hostid="261" meta.entityid="Adani Ports">Adani Ports</keyword> delivered 3x the India cargo growth rate and a record volume of 420 million tonne. "Clearly, the company's business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results, said Ashwani Gupta, Whole-Time Director and CEO, APSEZ. With incremental cargo volumes of 100 million tonne achieved in less than two years, Adani Ports is well poised to achieve 500 million tonne of cargo volumes in 2025, aided by the recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT (West Container Terminal) next year, said Gupta. "We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers. Our efforts towards sustainable business growth are well recognized in the top decile ESG rating from four global rating agencies," added Gupta. In 2023-24, APSEZ said it handled 27 per cent of the country's total cargo and 44 per cent of container cargo. Ten of its ports from the India portfolio recorded their lifetime high cargo volumes for the year. For 2023-24, the APSEZ Board has recommended a dividend of Rs 6 per share. This implies a payout of around Rs 1,300 crore for the company. A dividend is a reward that companies often provide to their shareholders, though it is not mandatory, from a portion of their earnings. APSEZ is the largest port developer and operator in India with seven strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in <keyword id="19906863" type="General" weightage="20" keywordseo="Gujarat" source="keywords">Gujarat</keyword>, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and eight ports and terminals on the East coast of India (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). SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Adani Ports' net profits jump 50% in 2023-24, registers threefold cargo growth

<ul class="summary-list"><li>1 in 10 dockworkers at the ports in Southern California are unable to work due to COVID-19.</li><li>Surging infection rates mean less cargo is unloaded as the ports struggle to clear a near-record backlog.</li></ul>The Omicron variant is threatening to make the <a href="https://www.businessinsider.com/shipping-containers-stuck-california-ports-combat-shortages-2021-9">historic backlog</a> at the largest ports in the US even worse.About 800 dockworkers were unable to work this week due to COVID-19 related issues, according to a <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fsouthern-california-ports-struggle-to-trim-cargo-backlog-as-omicron-surges-11641938505%3Fst%3D0dwzzg2lh5ci01n%26reflink%3Ddesktopwebshare_twitter">report from The Wall Street Journal.</a> The publication said the number represents about 1 in 10 of the two ports' daily workforce and includes workers who have tested positive for coronavirus, as well as those who are quarantining or felt ill.COVID-19 infections at the ports in Los Angeles and Long Beach have increased exponentially over the past few weeks, in line with <a href="https://www.businessinsider.com/omicron-covid-cases-records-norway-denmark-uk-south-africa-2021-12">soaring infection rates</a> in the overall US population. The Pacific Maritime Association told The Journal that the number of daily worker infections escalated from a few cases a day to about 150 a day last week. On Friday, Rochelle Walensky, the director of the CDC, said the Omicron variant has <a href="https://www.nbcnewyork.com/news/cdc-director-i-dont-believe-weve-seen-the-peak-yet/3484821/">not yet hit its peak in the US.</a>Infection rates at the ports are already stalling efforts to clear a <a href="https://www.businessinsider.com/largest-us-port-breaks-multiple-record-cargo-ships-import-delays-2021-9">backlog of over 100 cargo ships</a>. On Monday, less workers meant that 13 fewer ships were unloaded and loaded at the twin ports, while other ships received less longshoremen, The Journal reported.One dock worker at the <keyword id="12305968" type="UNKNOWN" weightage="60" keywordseo="port-of-long-beach" source="Orion">Port of Long Beach</keyword> and two at the <keyword id="12305969" type="UNKNOWN" weightage="60" keywordseo="port-of-los-angeles" source="Orion">Port of Los Angeles</keyword> told Insider that some terminals have been hit harder than others, while others are operating at capacity.<a href="https://www.businessinsider.com/dock-workers-explain-record-shipping-container-cargo-backlog-california-ports-2021-10">Insider previously reported</a> that dock workers at the ports that handle over 40% of all US imports moved a record amount of cargo in 2021, as the ports struggled to keep up with a <a href="https://www.businessinsider.com/consumers-shipping-expectations-helped-cause-everything-shortage-supply-chain-experts-2021-10">boom in online shopping during the pandemic.</a>Wall Street analysts <a href="https://www.businessinsider.com/omicron-wrecks-havoc-on-supply-chain-if-asia-factories-close-2022-1">have warned</a> that the highly contagious Omicron variant could cause even further damage to the global <keyword id="11894138" type="UNKNOWN" weightage="60" keywordseo="supply-chain" source="Orion">supply chain</keyword>, worsening <a href="https://www.businessinsider.com/why-supply-shortages-economy-inventory-chips-lumber-cars-toilet-paper-2021-5">shortages</a> and <a href="https://www.businessinsider.com/executives-say-brace-for-shipping-delays-price-hikes-next-year-2021-9">prices hikes</a> in the US. In China, the country's <a href="https://www.businessinsider.com/shipping-delays-shutdown-at-chinese-port-threatens-send-prices-higher-2021-8">zero tolerance policy for COVID-19</a> infections is already <a href="https://www.nytimes.com/2022/01/12/business/inflation-supply-chain.html">slowing traffic</a> at some of the world's largest ports — a major cause for concern in the US, which relies on China for the <a href="https://www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services">majority of its goods.</a>"If they stick to their zero-case doctrine, a global supply chain disaster is on the horizon," Tinglong Dai, a professor of operations management at Johns Hopkins University Carey Business School, <a href="https://www.nytimes.com/2022/01/12/business/inflation-supply-chain.html">told The New York Times.</a>

COVID-19 infections at the nation's largest port jumped from a few cases to 800, threatening further delays as over 100 ships wait to dock and unload

India's major <keyword id="6413000" type="General" weightage="100" keywordseo="ports" source="Orion">ports</keyword> handled the highest ever cargo at 795 million tonne in 2022-23, <keyword id="5791834" type="General" weightage="50" keywordseo="ministry-of-ports" source="Orion">Ministry of Ports</keyword>, Shipping and Waterways Secretary <keyword id="189691" type="General" weightage="50" keywordseo="sudhansh-pant" source="Orion">Sudhansh Pant</keyword> said on Friday. <keyword id="236966" type="General" weightage="50" keywordseo="pant" source="Orion">Pant</keyword> further said that with transactions worth about Rs 5,000 crore, the <keyword id="6390662" type="General" weightage="50" keywordseo="shipping-ministry" source="Orion">shipping ministry</keyword> has surpassed its FY23 asset monetisation target of about Rs 3,700 crore. He also said that next week, Ports, Shipping and Waterways Minister <keyword id="545729" type="General" weightage="50" keywordseo="sarbananda-sonowal" source="Orion">Sarbananda Sonowal</keyword> will launch 'Green Port' guidelines to make India's ports green. "Our major ports have handled the highest ever cargo in the history of the ports at 795 million metric tonne. This is 10 per cent higher than the previous year's cargo handled," he told PTI. India has 12 major ports - Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (<keyword id="426494" type="General" weightage="50" keywordseo="kamarajar" source="Orion">Kamarajar</keyword>), Tuticorin (V O Chidambaranar), Visakhapatnam, <keyword id="49809" type="General" weightage="50" keywordseo="paradip" source="Orion">Paradip</keyword> and <keyword id="6354925" type="General" weightage="50" keywordseo="kolkata" source="Orion">Kolkata</keyword> (including Haldia) and Jawaharlal Nehru Port. "Four or five of the major ports, including <keyword id="9340309" type="General" weightage="50" keywordseo="syama-prasad-mookerjee-port" source="Orion">Syama Prasad Mookerjee Port</keyword> (Kolkata), Deendayal (Kandla), Jawaharlal Nehru Port and Paradip have recorded the highest ever cargo," Pant added. He also pointed out that after many many years, the major ports have recorded a higher annual growth than that of non-major ports. Non-major ports are administered by state governments. Many state governments have given such ports on lease to private partners. "So, this year (2022-23), major ports achieved an overall growth of 10.4 per cent, while non-major ports achieved a growth 1.5 to 2 per cent less than this," he said. While the share of major ports in the total cargo was 54 per cent and non-major ports was 46 per cent in FY22, Pant said in FY23, the share of major ports rose to 55 per cent and that of non-major ports fell to 45 per cent. "So even 1 per cent shift is a very significant achievement for major ports, because despite so many challenges, they have increased their share by 1 per cent ," he said. Pant also said the inland waterways increased their cargo handling by 16 per cent to 126 million tonne in 2022-23 from 109 million tonne in 2021-22. He said the turnaround time in major ports has reduced by 3-4 hours to 48-49 hours. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/a-third-of-unicorn-founders-on-huruns-list-are-serial-entrepreneurs/slidelist/99661370.cms">Serial success: Multi-company founders whose startups are on Hurun’s top unicorns list</a> <a href="https://www.businessinsider.in/business/news/home-buying-sentiment-to-weaken-but-new-supply-is-kicking-in-say-analysts/articleshow/99656311.cms">Home buying sentiment to weaken but new supply is kicking in say analysts</a>

India's major ports handled highest ever cargo at 795 million tonne in FY23

The <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> and Special Economic Zone (APSEZ) Ltd. is acquiring the 58.1 per cent stake held by D.V.S. Raju and family in the Gangavaram Port Limited (GPL). The acquisition is valued at ₹3,604 crore and subject to regulatory approvals. APSEZ, the transportation arm of <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, had announced acquisition of Warburg Pincus's 31.5 per cent stake in GPL on March 3 and together with this acquisition, APSEZ would have 89.6 per cent stake in GPL. GPL is located in the northern part of <keyword id="37102" type="LOCATION" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> next to Vizag Port. It is the second largest non-major port in Andhra Pradesh with a 64 MMT capacity established under concession from the Government of Andhra Pradesh (GoAP) that extends till 2059. It is an all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT. Currently, GPL operates nine berths and has free hold land of 1,800 acres. With a master plan capacity for 250 MMTPA with 31 berths, GPL also has headroom to support future growth. GPL handles a diverse mix of dry and bulk commodities including Coal, Iron Ore, Fertilizer, Limestone, Bauxite, Sugar, Alumina, and Steel. GPL is the gateway port for a hinterland spread over eight states across eastern, southern and <keyword id="92952" type="ORGANIZATION" weightage="20" keywordseo="Central-India">central India</keyword>. The acquisition will help GPL to benefit from APSEZ's pan-India footprint, logistics integration, customer centric philosophy, operational efficiencies and strong balance sheet to deliver a combination of high growth by enhancing market share and add additional cargo types and improved margins and returns. In FY20, GPL had a cargo volume of 34.5 MMT, revenue of ₹1,082 crore, EBITDA of ₹634 crore (59 per cent margin) and PAT of ₹516 crore GPL is debt free with a cash balance of over ₹500 crore. The company has a paid up share capital of 51.7 crore shares of which 58.1 per cent is owned by DVS Raju and Family (Promoter), 10.4 per cent by the Government of Andhra Pradesh and 31.5 per cent by Warburg Pincus. APSEZ announced acquisition of 31.5 per cent stake of Warburg Pincus on March 3 for ₹120/share and shall acquire the D.V.S. Raju stake of 30 crore shares (58.1 per cent) also at ₹120/share which works out to a consideration of ₹3,604 crore. The transaction implies EV/EBITDA multiple of 8.9x and P/E multiple of 12.0x (based on FY20 figures) and is a value accretive transaction for APSEZ shareholders. Karan <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword>, CEO and Whole Time Director of APSEZ said, "The acquisition of GPL is a further augmentation of our vision of capitalising on an expanded logistics network effect that generates greater value as it expands. Every additional node that we are able to add to our network allows us to deliver a greater level of integrated and enhanced solutions to our customers. In this context, GPL is a tremendous addition to our portfolio. "The associated hinterland we will now be able to tap into is one of the fastest growing in the eastern region and with the logistic synergies APSEZ brings to the table, GPL has a potential to become a 250 MMT port. This will undoubtedly help accelerate the industrialisation of AP. The Raju family has built a great port and we will continue to expand the world class asset that has been initiated by them." APSEZ, a part of globally diversified Adani Group has evolved from a port company to Ports and Logistics Platform for India. It is the largest port developer and operator in India with 12 strategically located ports and terminals -- Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in <keyword id="6357961" type="LOCATION" weightage="20" keywordseo="odisha">Odisha</keyword>, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, Dighi in <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> and Kattupalli and Ennore in Chennai -- represent 24 per cent of the country's total port capacity. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-vs-amazon-future-retail-gets-a-breather-for-now-as-delhi-high-court-gives-the-company-time-until-the-supreme-court-hearing/articleshow/81627752.cms">Future Retail gets a breather for now as Delhi High Court gives the company time until the Supreme Court hearing – markets celebrate the order</a> <a href="https://www.businessinsider.in/business/auto/news/india-electric-vehicle-startups-charge-up-with-funding-as-ev-sales-go-up/articleshow/81643839.cms">India’s electric vehicle startups charge up with funding as everyone from the government to Mukesh Ambani and Elon Musk have their eyes on the sector</a>

Adani Ports to acquire 58% stake in Andhra Pradesh's Gangavaram port

<ul><li>The Australian Centre of International Justice (ACIJ) and activist group Justice for Myanmar (JFM) have called on India's stock exchanges to take regulatory action against <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword>, led by Indian billionaire <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>.</li><li>According to them, the company is ‘factually misleading’ stakeholders by failing to disclose its association with the Myanmar military.</li><li>Meanwhile, Adani Ports saw its share price skyrocket by nearly 5% on the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE).</li></ul>Indian billionaire Gautam Adani seems to be unable to get away from the controversy of allegedly having close ties with the Myanmar military — which is now ruling the country after a coup — even after multiple denials. The Australian Centre of International Justice (<a href="https://acij.org.au/joint-media-release-adani-ports-misleads-shareholders-in-statement-that-fails-to-disclose-myanmar-military-ties-nse-and-bse-must-take-regulatory-action/">ACIJ</a>) and activist group Justice for Myanmar (JFM) have called on the India’s stock exchanges to take regulatory action against his company, Adani Ports, for failing to disclose ties with the military junta. Meanwhile, Adani Ports’ — the largest private port operator in India — shares rallied by 4.43% on the National Stock Exchange (NSE) and 4.77% on the Bombay Stock Exchange (BSE) on April 1. Gautam Adani, the chairman and managing director of the Adani Group, has seen his <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-elon-musk-jeff-bezos-and-mukesh-ambani-in-2021-with-highest-increase-in-net-worth/slidelist/81467132.cms">wealth skyrocket in 2021</a>. His net worth has grown more than even Amazon’s Jeff Bezos or Tesla’s Elon Musk this year. <div type="image" title="Copy of wipro share price" msid="81844454" hostid="261" caption="&amp;lt;p&amp;gt;Adani Ports&amp;#39; share price since 1 January 2021&amp;lt;/p&amp;gt;"></div> The civil rights organisation claims that the statement released by <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">Adani Ports</a> on March 31 is ‘factually misleading’. The issue centres around how the company is linked to the Myanmar Economic Corporation (MEC). “Adani Ports’ direct business with MEC exposes shareholders to major international law, corruption and reputational risks,” wrote ACIJ in its press release on April 1. Business Insider India has reached out to Adani Ports for a comment on the issue but is yet to receive a response. <cmsannotation type="cmsannotation" annotationid="Why is Adani Ports’ association with MEC a concern of civil rights?" comment="subhead" text="Why is Adani Ports’ association with MEC a concern of civil rights?">Why is Adani Ports’ association with MEC a concern of civil rights?</cmsannotation> The MEC is controlled by Myanmar’s armed forces that have been accused by the United Nations (UN) of committing genocide and crimes against humanity. <a href="https://www.businessinsider.in/international/news/in-2-months-myanmars-military-has-killed-more-than-500-people-the-international-community-has-done-little-to-help-/articleshow/81819602.cms">More than 500 people</a> have been killed in the Myanmar military’s brutal crackdown on protests against its coup to oust civilian leader Aung San Suu Kyi. Moreover, the US hit the MEC with sanctions <a href="https://techcrunch.com/2021/03/29/united-states-myanmar-sanctions-internet/">last week</a> citing that the MEC is ‘a vital financial lifeline for the military junta’. According to the <a href="https://acij.org.au/wp-content/uploads/2021/03/Port-of-Complicity-Report-FINAL-Low-Resolution-Version.pdf">ACIJ and JFM</a>, documents show that Adani Ports will pay up to $30 million in land lease fees for the project to the MEC. Moreover, documents filed with Myanmar’s corporate regulator show Adani bringing in $141 million ‘capital in cash and $148 million ‘capital in kind’ for the project as per <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">ABC Australia</a>’s investigation. However, Adani Ports’ maintains that the facts are being misrepresented. <cmsannotation type="cmsannotation" annotationid="The timeline of accusations against Adani Ports — and subsequent denials" comment="subhead" text="The timeline of accusations against Adani Ports — and subsequent denials">The timeline of accusations against Adani Ports — and subsequent denials</cmsannotation> As early as August 2018, the UN Human Rights Council (UNHRC) <a href="https://www.ohchr.org/Documents/HRBodies/HRCouncil/FFM-Myanmar/A_HRC_39_CRP.2.pdf">issued a public warning</a> to foreign corporations not to do business with the MEC. However, 10 months later, on 23 May 2019, Adani Ports entered into a ‘build, operate, transfer’ (BOT) agreement with the entity as per ACIJ’s report. The deal entails Adani Ports’ Myanmar subsidiary — the Adani Yangon International Terminal Company — constructing a container port in Yangon on MEC’s military-owned land. Come September 2019, a report by UNHRC listed out the corporations involved in operations with the MEC. Many began to review their business operations and disengaged from ongoing projects. Meanwhile, Adani Ports remained silent. But, as pressure built up, Adani Ports <a href="https://www.business-humanrights.org/en/latest-news/adani-ports-sez-ltd-did-not-respond/">categorically denied</a> engaging with Myanmar’s military leadership in order to facilitate its project in the country in February earlier this year. However, <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">photographic and video evidence</a> sourced by ABC Australia earlier this week contradicts those claims. Adani Ports claims that the visit was a ‘cultural courtesy’ and a ‘customary practice’. “Much like our global peers, we are watching the situation in Myanmar carefully and will engage with the relevant authorities and stakeholders to seek their advice on the way forward,” said the company's spokesperson in a <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">statement</a> on March 31. Adani’s port projects in <a href="https://www.stopadani.com/">Australia</a> and <a href="https://www.downtoearth.org.in/news/environment/why-are-ennore-residents-protesting-against-adani-s-kattupalli-port-expansion-project--75894">Tamil Nadu</a> have also received criticism from activist groups, politicians and locals over environmental concerns. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-isros-nisar-satellite-could-face-a-seven-month-delay-and-cost-36-million-more-bearing-the-impact-of-covid-19/articleshow/81841231.cms">NASA-ISRO joint radar satellite could face a seven-month delay and cost $36 million more bearing the impact of COVID-19</a> <a href="https://www.businessinsider.in/finance/banks/news/state-bank-of-indias-sbi-mobile-banking-services-have-been-down-for-over-an-hour/articleshow/81820564.cms">SBI's mobile banking seems to have hit a snag — this time without a warning</a>

Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders

<ul class="summary-list"><li><keyword id="6374551" type="UNKNOWN" weightage="60" keywordseo="truckers" source="Orion">Truckers</keyword> at two major US ports have collectively sat idling for 50 years in 2021, data suggests.</li><li>The average trucker has already spent more time idling than any of the previous three years, the data showed.</li></ul>Truckers at two backlogged US container ports have collectively sat idling for 50 years so far in 2021, data suggests.The "idle time" racked up by these truckers, at the <keyword id="12305969" type="UNKNOWN" weightage="60" keywordseo="port-of-los-angeles" source="Orion">Port of Los Angeles</keyword> and the Port of New York and New Jersey, climbed markedly in 2021 compared with recent years, data from Lytx, a transport telematics firm, showed. The data was first reported by <a href="https://www.bloomberg.com/news/articles/2021-11-03/fifty-years-in-idle-time-seen-for-trucks-at-two-major-u-s-ports?sref=lAVQtUwz">Bloomberg</a>.Idle time - the time in which engines are running but trucks aren't moving - climbed by 50% per vehicle between the start of 2018 and October 2021, Lytx said.So far in 2021, trucks at the two ports have racked up more than a day's worth of idle time on average - which, collectively, amounts to 50 years' worth, according to Lytx.America's busiest ports remain clogged up because of a breakdown in the <a href="https://www.businessinsider.com/shipping-crisis-lasts-till-2023-without-government-intervention-supply-chain-2021-10">supply chain network</a>. After a fall in shipping demand during the early days of the pandemic in 2020, a surge at the end of that year has led to delays and blockages <a href="https://www.businessinsider.com/shipping-crisis-causing-shortages-why-2021-6?r=US&amp;IR=TIR=TIR=T">across the world</a>.Now, containers that are waiting to be collected and taken to their next destination are <a href="https://www.businessinsider.com/shipping-los-angeles-port-crisis-ports-to-fine-companies-containers-2021-10">jamming up port docks</a> and preventing arriving ships from docking and unloading new cargo. The White House <a href="https://www.businessinsider.com/los-angeles-port-shipping-crisis-docks-supply-chain-white-house-2021-10?r=US&amp;IR=TIR=T">stepped</a> in last month, moving both Southern California ports to a 24/7 schedule. But <keyword id="11894138" type="UNKNOWN" weightage="60" keywordseo="supply-chain" source="Orion">supply chain</keyword> experts were <a href="https://www.businessinsider.com/why-bidens-plan-us-ports-wont-solve-supply-chain-crisis-2021-10?r=US&amp;IR=TIR=T">skeptical</a> about how effective this would be especially if truckers and warehouses are not following the same schedule. "It's great that they've chosen to do something, but we're talking about a less than 1% to 2% change here," Brian Whitlock, a supply chain analyst at Gartner, told <a href="https://www.businessinsider.com/why-bidens-plan-us-ports-wont-solve-supply-chain-crisis-2021-10?r=US&amp;IR=TIR=T">Insider</a>. "The work that they're talking about here is going to be immaterial. It probably won't even be visible."

Truckers at 2 backlogged US container ports have collectively sat idling for 50 years so far in 2021, data suggests

<keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> and <keyword id="6365230" type="UNKNOWN" weightage="20" keywordseo="special-economic-zone">Special Economic Zone</keyword> Limited (APSEZ) on Monday announced the completion of the acquisition of <keyword id="9624334" type="COMPANY" weightage="20" keywordseo="krishnapatnam-port-company-ltd">Krishnapatnam Port Company Ltd</keyword>, (KPCL) for an enterprise value of Rs 12,000 crore. It will result in APSEZ having a controlling stake of 75 per cent in KPCL from the CVR Group and other investors. This acquisition will accelerate APSEZ's stride towards 500 MMT by 2025 and is another step in implementing APSEZ's stated strategy of cargo parity between west and east coasts of India, <keyword id="76451" type="COMPANY" weightage="20" keywordseo="Adani">Adani</keyword> Ports said in a regulatory filing. <keyword id="1033941" type="PERSON" weightage="20" keywordseo="Karan-Adani">Karan Adani</keyword>, Chief Executive Officer and Whole Time Director of APSEZ said: "This transformational acquisition enables us to roll out world class customer service to an increased customer base and provide pan-India solution to them. He added that the company's experience of turning around acquisitions like Dhamra and Kattupalli ports will enable it in harnessing the potential of KPCL. "With a vast waterfront and land availability of over 6,700 acres, KPCL is capable of replicating Mundra and would be future ready to handle 500 MMT. We will replicate our operations and maintenance philosophy at KPCL, continue to focus on environment, reduce emission levels and have zero tolerance for fatalities and thus improve returns to stakeholders," Adani said.

Adani Ports completes ₹12,000 crore  acquisition of Krishnapatnam Port Company

<ul class="summary-list"><li>California ports will start fining shipping firms if they don't clear <keyword id="12358634" type="UNKNOWN" weightage="60" keywordseo="containers" source="Orion">containers</keyword> in time.</li><li>Containers will be allowed to stay on the docks for between three to nine days without accruing fines.</li></ul>The ports of Los Angeles and Long Beach will begin fining shipping companies $100 a day for every container left on the docks.The idea is to put greater pressure on shipping companies to move <keyword id="12393038" type="UNKNOWN" weightage="60" keywordseo="cargo" source="Orion">cargo</keyword> from docks to help ease port jams, enabling <a href="https://www.businessinsider.com/shipping-crisis-lasts-till-2023-without-government-intervention-supply-chain-2021-10?r=US&amp;IR=TIR=T">the record number of ships that are stuck at anchor</a> to dock and unload new containers.The ports said Monday that shipping firms have three days to move containers if their next step is by rail, or nine days if the next step is by truck, as first reported by the <a href="https://apnews.com/article/business-los-angeles-long-beach-shipping-619432662e60c883a4391d13a280ae2c">Associated Press</a>.If the containers stay longer, the ports will impose the daily fine until the containers are taken away. These new rules will come into force on November 1, the ports said.The two ports have remained clogged for months because of the <a href="https://www.businessinsider.com/shipping-containers-stuck-california-ports-combat-shortages-2021-9?r=US&amp;IR=TIR=T">global supply chain crisis</a>. After a fall in shipping demand during the early days of the pandemic in 2020, a surge at the end of that year led to delays and blockages <a href="https://www.businessinsider.com/shipping-crisis-causing-shortages-why-2021-6?r=US&amp;IR=TIR=TIR=T">across the world</a>.<a href="https://www.businessinsider.com/supply-chain-state-of-emergency-california-ports-2021-10?r=US&amp;IR=TIR=T">Containers have been stacked up on the docks for weeks</a> waiting to be unloaded, but a shortage of on-dock workers and truck drivers has led to long delays in the process.These port jams mean that ships are unable to dock and drop new cargo. A spokesperson for the Marine Exchange told Insider there were 110 vessels at anchor around these ports over the weekend - a new record. Eighty of these ships were carrying containers.For comparison, before the pandemic, the ports' <a href="https://www.businessinsider.com/record-100-ships-float-california-ports-despite-biden-extending-hours-2021-10?r=US&amp;IR=TIR=T">highest record</a> had been 17 ships waiting to anchor. "The terminals are running out of space, and this will make room for the containers sitting on those ships at anchor," <keyword id="12305968" type="UNKNOWN" weightage="60" keywordseo="port-of-long-beach" source="Orion">Port of Long Beach</keyword> Executive Director Mario Cordero said in the statement on Monday. The <keyword id="11893589" type="UNKNOWN" weightage="60" keywordseo="news" source="Orion">news</keyword> comes after the White House <a href="https://www.businessinsider.com/los-angeles-port-shipping-crisis-docks-supply-chain-white-house-2021-10">announced</a> earlier this month the <keyword id="12305969" type="UNKNOWN" weightage="60" keywordseo="port-of-los-angeles" source="Orion">Port of Los Angeles</keyword> would shift to a 24-hours-a-day schedule to help work through the backlog. The Port of Long Beach had already extended its working hours. In an interview with <a href="https://edition.cnn.com/2021/10/18/business/container-port-record-backlog/index.html">CNN earlier this month</a>, Gene Seroka, head of the Port of Los Angeles, said that Biden's plan was helping it to move through some of the cargo that had been sitting on the dock for several days. "We had 25% of all cargo on our dock sitting here for 13 days or longer [and] that's been cut in just about half over the last week," he told CNN. <a href="https://www.businessinsider.com/supply-chain-crisis-biden-port-schedule-cant-fix-seko-logistics-2021-10">But experts have been skeptical</a> about the impact, because the warehousing and trucking sectors are not following the same schedule. "You can keep the ports open but if there are no trucks coming to pick-up or no warehouses open at 3 a.m., it's kind of a moot point," Brian Bourke, chief growth officer at logistics firm Seko, said in a recent conversation with <a href="https://www.bloomberg.com/news/videos/2021-10-21/seko-logistics-chief-growth-officer-brian-bourke-on-supply-chain">Bloomberg</a>.Everybody needs to be in sync to solve the problem, he said. "Everything is connected ... that's why they call it a <keyword id="11894138" type="UNKNOWN" weightage="60" keywordseo="supply-chain" source="Orion">supply chain</keyword>."

California ports resort to $100-per-container fines to get shipping firms to move cargo from clogged-up docks, as a record number of ships wait off the coast

You Searched For "ports" and got 10 results

Adani Ports is making 68% margin from one of its ports – the stock has doubled since lockdown

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Adani ports and Special Economic Zone Ltd. records stellar H1 FY24 performance

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Adani Ports' net profits jump 50% in 2023-24, registers threefold cargo growth

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COVID-19 infections at the nation's largest port jumped from a few cases to 800, threatening further delays as over 100 ships wait to dock and unload

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India's major ports handled highest ever cargo at 795 million tonne in FY23

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Adani Ports to acquire 58% stake in Andhra Pradesh's Gangavaram port

IANS

Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders

Prabhjote Gill

Truckers at 2 backlogged US container ports have collectively sat idling for 50 years so far in 2021, data suggests

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Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company

IANS

California ports resort to $100-per-container fines to get shipping firms to move cargo from clogged-up docks, as a record number of ships wait off the coast

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