Adani Ports Eyes Rs 15,000 Cr Ebitda In FY23, Will Prepay Rs 5,000 Cr Debt

Adani Ports and Special Economic Zone is targeting an Ebitda (earnings before interest, depreciation, tax and amortisation) of Rs 14,500-15,000 crore in the financial year ending this March, Karan Adani, CEO and wholetime director of APSEZ said.

"Besides an estimated capital expenditure of Rs 4,000-4,500 crore, we are considering total loan repayment and prepayment of around Rs 5,000 crore, which will significantly improve our net debt-to-Ebitda ratio and bring it closer to 2.5x by March," Adani said soon after releasing the December quarter results.

Adani added that with the highest ever revenue and Ebitda over a nine-month period, ASPEZ is well placed to achieve the upper end of its full year revenue and Ebitda guidance provided for FY23.

"The company also concluded the transactions of Haifa Port Company, IOTL, ICD Tumb, Ocean Sparkle, and Gangavaram Port, and is progressing well on transitioning its business model to a transport utility," the APSEZ chief said.

APSEZ’s net debt-to-Ebitda ratio is well within the guided range of 3-3.5x, while the gearing ratio is below one, the company statement said.

"The performance across various debt covenants has been better than the desired levels. We have an impeccable track record of fulfilling our debt obligations, and our internal accruals enable us to meet the scheduled debt repayment for any of the financial years without any major challenges," he said.