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Essar Ports announces Q4 results, ends FY15 on a strong note; takes over Vizag iron ore terminal

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May 14, 2015 Bookmark and Share  
  • Essar Ports' Q4 FY15 net profit jumps 15% Y-o-Y to Rs104.6 cr
  • Essar Ports' Q4 FY15 revenue up 6% Y-o-Y to Rs440 cr
  • Essar Ports' Q4 FY15 EBITDA up 6% Y-o-Y to Rs348 cr
  • Essar Ports takes over Vizag Iron Ore Terminal from Vizag Port Trust
Mumbai: Essar Ports Limited (Essar Ports), part of Essar, today announced its audited results for the full year and quarter ended March 2015.

Key Highlights:
Essar Ports takes over the Vizag iron ore outer harbor terminal with two berths on May 14, 2015. Existing operational terminal with no gestation period. Refurbishment of terminal to happen alongside operations.

Financial Performance for  FY15
  1. Revenue for FY15 is Rs1,741 cr, an increase of 6% against Rs1,637 cr in FY14.
  2. EBITDA for FY’15 is Rs. 1,416 cr, an increase of 7% against Rs 1,327 cr in FY’14. 
  3. PAT for FY’15 is Rs. 391 cr, an increase of 2% against Rs 384 cr in FY’14.
  4. Earnings Per Share for FY’15 were Rs. 9.14
Financial Performance  for Q4 FY’15
  1. Revenue for the quarter is Rs. 440 cr, an increase of 1% against Rs 434 cr in Q3 FY15 and 6% increase against Rs416 cr in Q4 FY14
  2. EBITDA for Q4 FY15 is Rs348 cr, a decrease of 3% against Rs359 cr in Q3 FY15 and an increase of 6% against Rs330 cr in Q4 FY14
  3. PAT at Rs104.6 cr, an increase of 7% against Rs98.3 cr in Q3 FY15 and 15% increase against Rs90.8 cr in Q4 FY14
Mr Rajiv Agarwal, Managing Director, Essar Ports Limited, commented: “The company has delivered another quarter of consistent growth in financial performance. The emphasis is on development of world-class facilities and to complete the projects in hand in time. The company has now received all pending approvals related to environment and land clearances. We are happy to announce takeover of operations of Vizag outer harbor iron ore terminal which is an existing operational project with no gestation period.”

Business Update:
  • Billed traffic during Q4 FY15 is 18.43 MMT as against 18.08 MMT in Q4 FY14
  • Billed traffic during FY15 is 73.00 MMT as against 72.16 MMT during
  • FY14.
  • Awards and accolades earned during the year
    • Vadinar
      • Won Greentech Safety Award in Gold category
      • Was accorded Port / Terminal of the Year (HSE) in Gujarat Star Awards
      • Won Environment Award – Lloyd’s list (Middle East and Indian subcontinent) Award
    • Paradip 
      • Won outstanding project execution award under Dun & Bradstreet's Infra Awards 2014
      • Won 4th Annual Greentech CSR Award
      • Won 15th Annual Greentech Environment Award
Key Updates:
  • Takeover of Vizag operations from Vizag Port Trust today (May 14, 2015)
  • Concession Agreement signed with Kandla Port Trust (KPT) for additional 1 SPM and 2 product berths.
  • Salaya project has received all regulatory approvals including forest clearance, Government / Gauchar land. All required clearances are now in place.
About Essar Ports
Essar Ports is one of the largest port companies of India with a current capacity of 120 MMTPA. The capacity is being expanded to 194 MMTPA over the next few years.
Essar Ports has four operational port terminals at Hazira, Vadinar, Paradip and Vizag Iron Ore. The Hazira port is an all-weather, deep-draft port with 30 MMTPA of dry bulk and break bulk cargo handling capacity. Vadinar is also an all-weather, deep-draft port with 58 MMTPA of liquid cargo handling capacity. The Paradip dry bulk terminal was commissioned in December 2012 and is an all-weather, deep-draft port with 16 MMTPA of dry bulk cargo handling capacity. The Vizag terminal is an operational berth taken over on May 14, 2015, having capacity of 16 MMTPA.

The company is also setting up a dry bulk terminal at Salaya with a capacity of 20 MMTPA. Additionally, the company plans to expand its Hazira port capacity by 20 MMTPA – taking its capacity to 50 MMTPA.  The company is also undertaking capacity addition of additional iron ore berths at Visakhapatnam Port with a total capacity of 16 MMTPA. The company also plans to develop a coal terminal at Paradip of 18 MMTPA capacity.

For media queries
Mr Manish Kedia
Senior Vice President - Corporate Affairs
Phone: +91 9819730092
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