Adani Ports end FY23 on a new high with 339 MMT

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest integrated transport utility in India and a part of the diversified Adani Group, handled ~32 MMT of total cargo in March 2023, implying a Y-o-Y growth of ~9.5%, the company said via an exchange filing.

For the first time since July 2022, the volumes crossed the 30-MMT mark. With ~339 MMT in FY23 (April 2022 - March 2023), APSEZ recorded its largest port cargo volumes ever – which is a good ~9% Y-o-Y growth.

Adani Ports has been continuously increasing its market share for the past years, outperforming all of India’s cargo volume growth.

“The improvement in cargo volumes is testimony to the faith that our customers have in us,” said Karan Adani, CEO and Whole Time Director, APSEZ.

“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.”

The overall container volumes handled by APSEZ in India jumped to ~8.6 MTUs (+5% YoY), including ~6.6 MTEUs at Mundra alone. It continues 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 (+ 24% Y-o-Y), while the bulk cargo transported exceeded 14 MMT, implying 62% Y-o-Y 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). Adani Ports serviced 3,068 unique customers across its different business units.