Adani Ports handles a record 100 MMT cargo in just 99 days

Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest integrated transport utility, has clocked a cargo throughput of 100 MMT in the first 99 days of FY23. APSEZ hit this record volume on 8 July 2022. The milestone is significant as it demonstrates the rapidly improving efficiency of APSEZ, which needed a year to achieve 100 MMT cargo volume FY2014.

"In 2021, we stated our ambition to emerge as the world's largest private port company and India's largest integrated transport utility by 2030," said Mr Karan Adani, CEO and Whole Time Director of APSEZ. "When APSEZ's operations spanned five ports, it took 14 years for the company to achieve 100 MMT of annual cargo throughput. In the following five years and with operations across nine ports, APSEZ doubled cargo throughput to 200 MMT. We then achieved the milestone of 300 MMT in just three years. We are now poised to grow our cargo volumes by 60% to 500 MMT by 2025 and emerge as the world's largest port operator by 2030."

The ability of APSEZ to handle 100 MMT cargo volume in less than one-third time when compared to the time taken in 2014 is driven by tech-based innovations to integrate conventional business processes with new age digital technologies. Other major factors that have catalysed APSEZ's cargo highpoints are improved efficiencies in fleet and fuel management, asset monitoring, mobility, operational intelligence and performance monitoring of the applications.

APSEZ has set itself a target of 500 MMT of cargo throughput by 2025. In pursuit of this goal, the company has consistently raised its cargo throughput year after year. It had reached the 100 MMT cargo throughput in 109 days last year.

Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 726.95 as compared to the previous close of Rs. 731.95. The total number of shares traded during the day was 111629 in over 4894 trades.

The stock hit an intraday high of Rs. 739.15 and intraday low of 724.20. The net turnover during the day was Rs. 81519146.00.

Source : Equity Bulls

Keywords

AdaniPortsandSpecialEconomicZone INE742F01042 100MMT Milestone CargoThroughput RecordVolume FY2023