Adani Ports and SEZ arm incorporates wholly owned subsidiary in UP

Adani Ports and Special Economic Zone announced that Adani Agri Logistics (AALL), step down subsidiary of the company has incorporated a wholly owned subsidiary in the name of Adani Agri Logistics (Sandila) (AALSL) on 18 November 2022.

Adani Agri Logistics (Sandila) has been incorporated as a wholly owned subsidiary of AALL for the purpose of development, design, construction, financing, procurement, engineering, operation and maintenance of Silo Complexes with container depot (Hub Silo Complex) and without container depot (Spoke Silo Complex) on design, build, finance, operate and transfer basis under public private partnership (PPP) mode at Sandila, Uttar Pradesh.

AALL incorporated AALSL with an initial authorised and paid-up share capital of Rs 5 lakh each and said that it is yet to commence its business operations.

AALSL is incorporated in India and registered with Registrar of Companies, Gujarat at Ahmedabad on 18 November 2022, the company said.

Adani Ports & Special Economic Zone is engaged in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.

The company's consolidated net profit surged 68.53% to Rs 1,677.48 crore on 32.83% jump in revenue from operations to Rs 5210.80 crore in Q2 FY23 over Q2 FY22.

Shares of Adani Ports & Special Economic Zone declined 0.19% to end at Rs 888.70 on Friday, 18 November 2022.

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