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    ADANIPORTS   INE742F01042

ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED

(ADANIPORTS)
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Adani Ports & Special Economic Zone : India's Adani offers discount for LNG-fuelled vessels at Mundra port

07/19/2021 | 01:56pm EDT
FILE PHOTO: Workers wait for a cargo ship to beach at Mundra Port in the western Indian state of Gujarat

NEW DELHI (Reuters) - The Adani Group will offer a 50% discount on charges to liquefied natural gas (LNG)-fuelled ships at Mundra, India's largest commercial port, according to a notice seen by Reuters, as the country seeks to cut emissions under its green ports plan.

Using LNG to fuel ships allows a significant reduction in CO2 as well as of other forms of pollution compared with conventional shipping fuel.

"Port will offer 50% discount on Port Dues, Pilotage and Berth hire charges," the notice to shippers, issued by Adani Ports and SEZ Ltd, said.

The company, controlled by billionaire Gautam Adani, said the waiver scheme will apply to vessels with dual fuel engines that use LNG as a primary fuel. The scheme will be valid for six months from Aug. 1.

However, the waiver on port charges would not apply for vessels carrying LNG cargo and using LNG fuel, it said.

Adani Ports and SEZ Ltd were not immediately available for comment.

(Reporting by Nidhi Verma; editing by Barbara Lewis)


ę Reuters 2021
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Financials
Sales 2022 174 B 2 358 M 2 358 M
Net income 2022 64 214 M 869 M 869 M
Net Debt 2022 273 B 3 690 M 3 690 M
P/E ratio 2022 24,2x
Yield 2022 0,85%
Capitalization 1 530 B 20 743 M 20 720 M
EV / Sales 2022 10,4x
EV / Sales 2023 8,59x
Nbr of Employees 2 773
Free-Float 20,5%
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Number of Analysts 21
Last Close Price 749,60 INR
Average target price 849,29 INR
Spread / Average Target 13,3%
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Managers and Directors
Karan Gautambhai Adani Chief Executive Officer & Executive Director
Gautambhai Shantilal Adani Chairman & Managing Director
Kamlesh Prabhudas Bhagia Secretary & Compliance Officer
Gopal Krishna Pillai Independent Non-Executive Director
Bharat Kanaiyalal Sheth Independent Non-Executive Director