Ten of APSEZ's ports and terminals set new cargo volume records, including Mundra port recorded 180 MMT, Tuna port recorded 10 MMT, Hazira port recoreded 26 MMT, Mormugao port recorded 5 MMT, Karaikal port recorded 12 MMT, Ennore port recorded 13 MMT, Kattupalli port recorded 12 MMT, Krishnapatnam port recorded 59 MMT, Gangavaram port recorded 37 MMT and Dhamra port recorded 43 MMT.
During FY24, more than one-fourth of all India cargo volumes were routed through APSEZ ports. This significant contribution by APSEZ underscores its active role in driving India’s growth trajectory. It also shows that India’s largest port operator comfortably surpassed its cargo volume guidance of 370 MMT - 390 MMT provided at the start of the financial year, stated by company in regulatory filing.
“What makes these accomplishments noteworthy is that they were achieved despite multiple challenges, such as the global trade disruptions caused by the red sea crisis, the Russia-Ukraine conflict and issues at the panama canal, and disruption of operations due to Cyclone Biparjoy and Cyclone Michaung” stated by the company in regulatory filing.
In the container segment, the ports at Mundra, Hazira, Kattupalli and Ennore handled record volumes. Around 44% of the containerised seaborne cargo in India moves through APSEZ ports. Its container volumes have grown by 2X of India’s container growth around 11% as compared to the all-India growth of around 5% in the last 5 years. Mundra port handled record container volumes by rail of 1.9 MTEUs, a growth of 12% over last year. Till February 2024, the double stack coefficient was 59% as compared to last year’s 54%.
In the dry cargo segment, ports such as Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram and Dhamra handled record volumes this financial year. Dhamra berthed its first LNG-powered cape-sized vessel, MV Ubuntu Unity, while Krishnapatnam berthed it’s largest-ever vessel with dimensions of LOA 335.9 m and beam 42.9 m. With regard to liquid cargo, Mundra, Kattupalli, Krishnapatnam and Dhamra handled record volumes.
Logistics volumes continue to witness record growth with year to date rail volumes of around 379,000 TEUs (over 23% YoY) and GPWIS (general purpose wagon investment scheme) volumes of 12.3 MMT (over 44% YoY). The highest-ever monthly GPWIS volumes were recorded in November 2023 at 1.72 MMT.
Karan Adani, managing director, APSEZ, said, “While it took 14 years for the company to achieve the first 100 MMT of annual cargo throughput, the second and third 100 MMT throughputs were achieved in 5 years and 3 years. The latest 100 MMT mark has been achieved in less than two years. This is a testament to our ongoing commitment and efforts towards enhancing operational efficiencies and maintaining our position as a top port operator in the industry.”
Adani Ports & Special Economic Zone is 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 soared 67.87% to Rs 2,208.41 in Q3 FY24 as against with Rs 1,315.54 crore posted in the same period a year ago. Revenue from operations jumped 44.59% year on year to Rs 6,920.10 crore during the quarter.