About The Company
Mundra Port and SEZ, an Adani group company, is currently the only listed non-captive private sector port. It is engaged in developing, operating and maintaining the Port and port based related infrastructure facilities, including multi-product SEZ. The company recently bagged Mormugao Port coal terminal development on a design build, finance, operate and transfer (DBFOT) basis. With this expansion into Western coast ports with good presence in coal and gas terminals, it will vastly improve the potential of the company.
About The Results
The company has done very well for the first quarter ended 30th June 2009. It posted a net sales of Rs.298.04 crore, rising 18% on a YoY. EBIDTA was up 22% at Rs.220.11 crore. Net profit was up by a healthy 76% at Rs.170.75 crore.
This strong performance has been on the back of strong growth in cargo volumes. While major Indian ports have together shown a growth of 1.9%, Mundra Port has shown a rise of 24% in cargo volumes in Q1 June 2009.
In Q1FY10, there was a 23% (YoY) rise in the number of vessles, which called at the port. There was a 24% rise in total cargo handled at the port at 9.89 mmt. Of this 24% came from coal, 20% from crude, 165 from vegetable oil and chemicals, 26% from container, 5% from fertilizer, 5% from steel and 45 from mineral and others.
About The Stock