APSEZ records 35.8 MMT of cargo volumes in May'24

Operational performance update of Adani Ports and Special Economic Zone Limited ("APSEZ"):

In May'24, APSEZ handled ~35.8 MMT of cargo volumes, which is almost flat YoY. Due to shutdown of the Gangavaram Port, APSEZ lost around 6 MMT of cargo volumes in April & May'24. However, with the operations now restarted, we are confident of recovering these lost volumes in the coming months.

Our flagship port Mundra recorded a key milestone of handling 17.6 MMT of cargo in May'24, which is the highest ever monthly volume at any of the Indian ports. The port also achieved another milestone of handling over 7 Lac TEUs in a month.

Despite the closure of Gangavaram port, during the initial two months of FY25, APSEZ handled 72 MMT of cargo, implying 5% YoY growth. This increase is primarily driven by containers (+11% YoY) and liquids & gas (+13%).

Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 1437.70 as compared to the previous close of Rs. 1383.40. The total number of shares traded during the day was 298280 in over 11770 trades.

The stock hit an intraday high of Rs. 1450.95 and intraday low of 1390.65. The net turnover during the day was Rs. 424833261.00.

Source : Equity Bulls

Keywords

AdaniPortsandSpecialEconomicZone INE742F01042 APSEZ OperationalPerformanceUpdate May2024