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Mundra Port has a mkt share of ~5% of India’s port traffic (2% in FY05), and is expected to be India’s
largest cargo handler over the next 5 years with ~10% mkt share
Port Demand-Supply mismatch in India to continue – req additional 200 mn tpa of capacity v/s current
demand of 800 mn tpa
As Mundra Port increases utilization to cross 100 mn tpa cargo over the next 4-5 years, cash flows will touch
USD 500 mn p.a.
One among the few infrastructure plays in India generating free cash flow and un-levered B/S (Net D/E at 0.4x).
Can aggressively bid for new port projects
comfort on longer-term monetization of balance 21,000 acres notified SEZ land
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