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Adani Ports Mundra recorded a record 51.2 MMT of cargo handling in the first quarter, up 7.3% from the previous record.

Adani Ports and Special Economic Zone Limited continues to achieve new milestones in operations. APSEZ has once again set new benchmarks with significant growth in cargo volume in June 2024.
22 Day ago

Adani Ports and Special Economic Zone Limited continues to achieve new milestones in operations. APSEZ has once again set new benchmarks with significant growth in cargo volume in June 2024.

51.2 MMT of cargo was handled in the first quarter

Adani Ports Mundra has achieved a significant milestone by handling 51.2 MMT in the first quarter of FY 2024-25 which represents an increase of 7.3% over its previous record. The last highest cargo handling volume was 47.7 MMT which was achieved in Q-3 of FY 2023 24.

Set a new record in container train handling

In addition to this achievement, Adani Ports Mundra has created a new record in container train handling. Handled 1,594 container trains in June 2024 with a total of 1,68,000 container movements. This record surpassed the previous record. In March 2024, it handled 1,573 container trains and recorded 162,000 container movements.

Internationally, APSEZ's annual cargo volume capacity has increased by 12 percent to 37 million metric tons (MMT). Under this operation, an annual increase of 33 percent in container volumes and 8 percent increase in liquid and gas cargoes has been recorded.

24 percent increase in port business volume annually

Adani Group's port business volumes grew by 24 per cent year-on-year, with ten domestic ports recording their highest ever cargo volumes. Adani Ports recorded a total cargo volume of 109 MMT in the quarter ending June 30, 2024, a growth of 7.5 percent over the same period last year. This growth was mainly due to an 18 percent increase in container cargo and an 11 percent increase in liquid and gas cargo.

In the logistics segment, APSEZ saw a 19 percent increase in quarterly rail volumes, reaching 156,590 TEUs, and GPWIS volumes totaling 5.56 MMT, a 28 percent year-on-year increase. Kattupalli port has handled its highest ever monthly cargo volume of 1.36 MMT. In April 2024, the company handled its highest ever monthly cargo volume of 420 MMT, a year-on-year growth of 24 percent. Notably, March 2024 saw a monthly volume of over 38 MMT.

APSEZ's market capitalization reached $37 billion

As per a report earlier this month, APSEZ's market capitalization reached around $37 billion. It also surpassed the Beijing-Shanghai High Speed ​​Railway Company. This landmark figure of rising cargo volume indicates an upward trend in the company's S&P BSE Sensex index.

APSEZ handled 27 percent of India's total cargo and 44 percent of container cargo in the year to March 31, 2024 (FY24). Adani Ports handled more than a quarter of all cargo volumes in India in FY2024. Noted broking firms are looking at the potential for Adani Ports share price to rise given the company's outstanding performance.

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