Adani Ports’ step-down subsidiary acquires 100% stake in Dependencia Logistics for ₹38 crore

Dependencia Logistics, incorporated in Mumbai in February 2022, is yet to commence operations but was established with a focus on providing transportation and logistics services for all types of goods. Its authorised and paid-up equity share capital stands at ₹10 lakh, with no turnover recorded to date.

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The acquisition is aimed at expanding Adani Ports’ logistics business and is not categorised as a related party transaction. The purchase was made through cash consideration.First Quarter Results

Adani Ports and Special Economic Zone’s net profit compared to the same quarter last year increased by 6.5% to ₹3,314.6 crore, while revenue increased by 21% on a year-on-year basis to ₹9,126 crore.

Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 13% from the year-ago period, but margins narrowed to 60.2% from 64.1% during the June quarter last year.

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Shares of Adani Ports and Special Economic Zone Ltd ended at ₹1,388.90, up by ₹8.20, or 0.59%, on the BSE.