Adani Ports and Special Economic Zone Limited (APSEZ) reported a significant increase in cargo volume for June 2024. They handled 37 million metric tonnes (MMT), a 12% year-over-year (YoY) jump. This growth was driven by a surge in container volumes (33% YoY) and liquids and gas cargo (8% YoY).
Key Highlights:
- June 2024: 37 MMT cargo volume (12% YoY growth)
- Kattupalli Port achieved its highest monthly volume ever (1.36 MMT)
- Quarter ending June 30, 2024: 109 MMT total cargo volume (7.5% YoY growth)
- Container cargo and liquids & gas primarily fueled growth (18% and 11% YoY increase, respectively)
- Logistics segment also saw growth:
- 19% YoY increase in quarterly rail volumes (156,590 TEUs)
- 28% YoY rise in GPWIS volumes (5.56 MMT)
Record-Breaking Performance
While June 2024 was impressive, APSEZ achieved even higher cargo volumes earlier this year. In April 2024, they handled a record-breaking 420 MMT, a 24% YoY increase. This figure includes international ports, with domestic ports contributing over 408 MMT.
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Market Leader with Continued Growth Potential
APSEZ’s success extends beyond cargo volume. Their market capitalization recently reached $37 billion, surpassing a major competitor. This milestone, combined with rising cargo volumes and inclusion in India’s S&P BSE Sensex Index, suggests a promising future for the company.
Dominant Market Share
As of March 31, 2024 (FY24), APSEZ managed a significant portion of India’s cargo movement:
- 27% of total cargo
- 44% of container cargo
- Over one-fourth of all cargo volumes in FY24
With ten domestic ports achieving record highs, Adani Ports Group’s cargo arm is well-positioned for continued growth.
