Adani Airports Achieves Milestone Cargo Handling of Over 1 million Tonnes in FY24, Demonstrates Strong 7% Growth

APSEZ, in its latest press release announced a fantastic performance in cargo handling for FY24 crossing the 420 MMT threshold, posting a remarkable growth of 24 percent compared to last year. The biggest highlight was the domestic ports accounting for more than 408 MMT.

Of all the months, March was one of the stars, with highest-ever monthly cargo volumes of about 38 MMT, which includes international ports.
Analysis

Karan Adani, CEO of APSEZ, speaking about the growth journey, highlighted some of the remarkable milestones. The duration was 14 years from the first step of 100 MMT annual cargo throughput, with the next milestones of 100 MMT each accomplished in much lesser durations of 5 and 3 years.

The major statistic that stood out to everyone was the fact that APSEZ facilitated more than a quarter of the cargo that was moved throughout the country in FY24, thereby playing the role of a perfect host to the Indian trade journey.

The recent 100 MMT benchmark was achieved in less than two years time. The fact throws a lot of emphasis on the ability and the single-minded focus of the company towards operational excellence and the industry leader that it is Performance of APSEZ Portfolio 8 ports saw growth in double digits and accounted for 84 percent of the total volumes.

This flagship port had its own historic moment—it went on to be the first port in India to handle cargo to the tune of 16 MMT in a month—Setting new benchmarks, making it "Port of the Year."

When APSEZ was facing the music from numerous challenges in the form of disruptions in global trade stipulated by various geopolitical events and operational issues like Cyclone Biparjoy and Cyclone Michaung, it stood like a Rock, showing resilience and climbing the ladder.

The containers segment saw record volumes at Mundra, Hazira, Kattupalli, and Ennore. The contribution of APSEZ ports to the containerized seaborne cargo in the country was 44 percent.

Indeed, container volumes have also grown faster compared to container gains in India, providing strong performances over the past half-decade.

Dry cargo segment saw many records happening this financial year with ports like Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram, and Dhamra handling record volumes.