New Delhi, April 22 -- Adani Ports and Special Economic Zone Ltd is in better shape now than over a decade ago, when it acquired the Abbot Point Port terminal on a 99-year lease from the Queensland government in FY12. But Adani had to sell it in 2013 to the promoter group to improve its net debt-to-Equity ratio that was as high as 3.41x at the end of FY12.

Last week, Adani Ports announced the acquisition of Abbot Point Port Holdings Pte Ltd from the promoter group in a related-party transaction, aligning with its target of achieving the cargo handling capacity of 1,000 mtpa (million tonnes per annum), including 150 mtpa of international capacity by 2030.

A strong balance sheet enables the acquisition now versus the past, said Jefferies ...