Adani Ports Achieves Record-Breaking Cargo Volumes and Growth in FY24

In December 2023, Adani Ports and Special Economic Zone Ltd (APSEZ) achieved a significant milestone by handling 35.65 MMT of cargo volumes, representing a robust 42% year-on-year (YoY) increase. For the nine months of financial year 2024, APSEZ managed around 311 MMT of total cargo, marking a healthy 23% YoY growth. The company’s goal is now to surpass 400 MMT of cargo volumes in FY24, surpassing the upper end of the previously provided guidance range.

APSEZ’s ports achieved numerous milestones during the period, including record-breaking cargo volumes and efficient handling of vessels, contributing to their overall success. Mundra Port alone managed around 5.5 million TEUs in the initial nine months of the financial year and is on track to exceed 7 million TEUs during FY24. In addition, logistics rail volumes grew by 22% and General Purpose Wagon Investment Scheme (GPWIS) volumes grew by 47% on a year-to-date basis.

Other ports in APSEZ’s portfolio also achieved significant milestones, such as Krishnapatnam berthing its largest-ever vessel, Dhamra Port handling its highest quantity of dry cargo, and various achievements at ports such as Gangavaram, Karaikal, Ennore, Kattupalli, Dahej, and Tuna. These accomplishments demonstrate the company’s continuous improvements in infrastructure and its ability to handle increasing cargo volumes.

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