APSEZ records 42% YoY growth in Nov '23 cargo volumes

In November 2023, APSEZ recorded strong cargo volumes of around 36 MMT, a robust 42% year-on-year increase. Growth was witnessed across all three broad cargo categories - dry bulk (over 60% Y-o-Y), containers (over 26%) and liquids and gas (over 23%).

In the initial eight months of FY 24 (April-November 2023), APSEZ handled around 275 MMT of cargo, a healthy 21% Y-o-Y growth. This marks over 70% of the top-end of its full-year guidance range of 370-390 MMT.

Adani International Container Terminal Private Limited (AICTPL), the joint venture terminal at the Adani Ports and Special Economic Zone in Mundra, achieved a momentous milestone by successfully handling over 3,00,000 containers in the month of November. This remarkable accomplishment is not only a significant achievement for APSEZ but also marks a historic event in the annals of Indian maritime history.

AICTPL created a national record by handling 3,00,431 TEUs across 97 vessels in November 2023, breaking its own record of 2,98,634 TEUs in March 2021, by handling approximately 10,000 TEUs every day.

Two other ports of APSEZ, Dhamra and Ennore, also recorded their highest ever monthly volumes, handling 3.96 MMT and 65,658 TEUs respectively.

Logistics volumes continue to witness record growth with year-to-date (YTD) 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.

Amidst India's emergence as one of the world's fastest-growing economies, the pivotal role played by APSEZ cannot be overstated. Its ability to handle the growing cargo volumes highlights its crucial position in facilitating trade and contributing to the country's economic growth. The achievement not only reinforces APSEZ's, and Mundra Port's, position as a leader in the maritime industry but also exemplifies the company's commitment to operational efficiency, innovation, and capacity to meet and surpass industry demands, setting new standards for excellence.

Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 827.55 as compared to the previous close of Rs. 825.50. The total number of shares traded during the day was 283331 in over 7546 trades.

The stock hit an intraday high of Rs. 837.95 and intraday low of 825.25. The net turnover during the day was Rs. 234924342.00.

Source : Equity Bulls

Keywords

AdaniPortsandSpecialEconomicZone INE742F01042 APSEZ November2023 CargoVolumes