Shares of Adani Ports and Special Economic Zone (Adani Ports) climbed 2 per cent in Wednesday’s trade after the Adani group company said its volumes in March crossed the 30 million metric tonne (mmt) mark for the first time since July 2022.
The largest domestic integrated transport utility said it handled 32 mmt of total cargo in March, up 9.5 per cent YoY. With 339 mmt in FY23, Adani Ports recorded its largest port cargo volumes ever. Volumes were up 9 per cent over FY22.
Adani Ports has been continuously increasing its market share for the past years, outperforming all of India’s cargo volume growth, the company said in a BSE filing. The improvement in cargo volumes is testimony to the faith that our customers have in us, said CEO and Whole Time Director Karan Adani.
“It shows our commitment to using improved efficiencies and technological integrations to drive and achieve customer satisfaction. The APSEZ’s flagship port, Mundra, is outpacing all its closest rivals and continues to be the largest port in the nation in terms of volumes handled. Mundra’s infrastructure meets world standards and provides service levels on par with those of its global competitors, making it India’s gateway for container goods,” Adani said.
Adani Ports said its container volumes handled in India jumped to 8.6 MTUs (up 5 per cent YoY), including 6.6 MTEUs at Mundra alone. It continued to be India’s largest seaport with 155 mmt of total cargo handled during the year.
“The logistics business segment also had a record year. The container rakes handled during the year achieved a new milestone crossing 500,000 TEUs (up 24 per cent Y-o-Y), while the bulk cargo transported exceeded 14 mmt, implying 62 per cent YoY jump. This financial year witnessed APSEZ setting some new milestones on the count of ships docked (6,573), rakes serviced (40,482), and the trucks, trailers and tankers handled (48,89,941),” it said.
Adani Ports serviced 3,068 unique customers across its different business units.
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