Adani Ports Achieves 36 MMT Cargo Volume In November

Adani Ports and Special Economic Zone Ltd. handled 36 million metric tonnes of total cargo in November, driven by a 21% year-on-year growth in container volumes. For the year-to-date period ending November, APSEZ managed 293.7 MMT of cargo, marking a 7% YoY increase.

This growth was primarily supported by a 19% YoY rise in container traffic, followed by a 7% increase in liquids and gas cargo, according to an exchange filing.

The company’s logistics rail volumes also witnessed robust growth, with year-to-date November figures rising 10% YoY to 0.42 million twenty-foot equivalent units. Additionally, volumes under the General Purpose Wagon Investment Scheme grew 15% YoY to 14.2 MMT.

In another recent development, APSEZ signed a supplementary concession agreement with the Kerala government on Nov. 29 to accelerate the development of the Vizhinjam International Seaport. Kerala Chief Minister Pinarayi Vijayan, who announced the agreement on social media, highlighted the port’s strategic importance in strengthening the state’s maritime infrastructure.

As part of the project, APSEZ will phase the port’s development, with the first phase expected to be operational next month. Subsequent phases are scheduled for completion by 2028, supported by an additional Rs 10,000 crore investment, to enhance capacity to handle 30 lakh TEUs.

These developments follow APSEZ’s October performance, where the company handled 37.9 MMT of cargo, bringing its YTD cargo volume to 257.7 MMT—an 8% YoY rise.

During the July-September quarter, APSEZ also reported a 37% YoY increase in consolidated net profit to Rs 2,412 crore, aligning with market expectations.

Share price of Adani Ports rose as much as 1.82% during the day before paring gains to trade 0.88% higher at Rs 1,200.5 apiece as of 12:50 p.m. This compared to an 0.18% advance in the benchmark Nifty 50.

The stock has risen 36.97% in the last 12 months and 17.45% on a year-to-date basis. The relative strength index was at 41.98.

Sixteen of the 18 analysts tracking APSEZ have a 'buy' rating on the stock, and two recommend a 'hold', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 43.8%.

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