Adani Ports & SEZ end FY23 with 9% growth, handles 339 MT of cargo volumes

Adani Ports and Special Economic Zone Ltd (APSEZ) stocks in the green on Thursday as the Adani Group company has handled ~32 MMT of total cargo in March 2023, implying a yoy growth of ~9.5%. 

For the first time since July 2022, the volumes crossed the 30-MMT mark and with ~339 MMT in FY23 (April 2022 - March 2023), APSEZ recorded its largest port cargo volumes ever at ~9% yoy growth, Adani Ports said in a filing.

Key Highlights:

• APSEZ records 9% Y-o-Y growth, largest port cargo volumes ever.
• Mundra continues to be India’s largest seaport with ~155 MMT of total cargo handled during the year.
• APSEZ’s deep draft ports can receive larger vessel parcels, thereby lowering overall logistics cost.
• Improved port and logistics infrastructure key to India becoming $5 trillion economy.

“The improvement in cargo volumes is testimony to the faith that our customers have in us,” said Karan Adani, CEO and Whole Time Director, APSEZ.

“It shows our commitment to using improved efficiencies and technological integrations to drive and achieve customer satisfaction. 

The APSEZ’s flagship port, Mundra, is outpacing all its closest rivals and continues to be the largest port in the nation in terms of volumes handled. Mundra’s infrastructure meets world standards and provides service levels on par with those of its global competitors, making it India’s gateway for container goods.”

On Thursday, at around 10:45 AM, shares of Adani Ports were trading higher by 0.43% at Rs639.25 per share on the BSE.