Investor Presentation
Awaiting price reaction for this filing.
APSEZ submitted its investor presentation from the Logistics Investor Day held on May 30, 2025, focused on the Tumb ICD. The company outlined aggressive multi-year growth targets for its logistics business, aiming to grow revenue from ₹2,881 Cr in FY25 to ₹14,000 Cr by FY29 (about 5x), with EBITDA scaling from ₹642 Cr to ₹3,500 Cr over the same period. Logistics assets are set to expand sharply: rakes from 132 to 300, MMLPs from 12 to 20, trucks from 937 to over 5,000, and warehouse space from 3.1 Mn sq ft to 20 Mn sq ft. Capex guidance of ₹150–200 Bn over FY25-29 is earmarked for logistics, while agri-silo capacity is set to rise from 1.2 MMT to 4 MMT (eventually 10 MMT by FY29). Management also highlighted margin expansion opportunities, with warehousing EBITDA margins projected to rise from 50%+ to 70%+ and logistics ROCE moving from 6% toward a threshold of 10%. The board has separately approved the acquisition of the NQXT Terminal in Australia.
The detailed multi-year roadmap with specific revenue, EBITDA, and ROCE targets should boost analyst confidence and provide clarity on growth visibility. However, the aggressive capex plan (₹450–500 Bn for ports plus ₹150–200 Bn for logistics) raises execution risk; near-term stock reaction is likely neutral to mildly positive as targets are already partly priced in.