Adani Ports and Special Economic Zone Ltd (APSEZ), on Thursday announced its results for the second quarter (Q2) and six months ended September 30, 2023. Karan Adani, CEO and Whole-Time Director of Adani Ports and Special Economic Zone, said, “APSEZ achieved another milestone by registering its highest ever half yearly revenue of Rs 12,894 Crore, EBITDA of Rs 7,429 Crore and cargo volumes of 203 MMT during H1 FY24. The splendid performance was on the back of a 14 per cent YoY increase in cargo volume coupled with improving operational efficiencies at our ports, which has resulted in our domestic ports EBITDA improving by 220bps YoY to 72 per cent during H1 FY24.”


In October, APSEZ clocked a 48 per cent jump in cargo volumes to reach its life-time high monthly volumes of 37 MMT.


“Our flagship port, Mundra, completed 25 years of successful operations, and recorded another milestone by becoming the first port in the country to handle cargo volumes over 16 MMT in a month. With a record YTD performance, APSEZ is comfortably placed to achieve its full year revenue and EBITDA guidance. APSEZ’s actions to drive its medium-to-long-term growth are progressing as per the plan. Our under-construction port in Sri Lanka has now received a funding commitment of $553Mn from the US International Development Finance Corporation (DFC). The expansion of our logistics business has also gathered momentum. During H1 FY24, APSEZ has added 11 rakes, Loni ICD, and warehouses at Mumbai and Indore to its portfolio. The improved utilizations of logistics assets have led to APSEZ recording its highest ever half-yearly rail and GPWIS volumes, with rail volumes growing at an impressive 25 per cent YoY and GPWIS volumes growing at 42 per cent YoY.” added Adani.


Here are some of the key operational milestones of APSEZ:



  • On YTD basis (Apr – Oct’ 23), APSEZ has handled 240 MMT of total cargo, which is a good 18% Y-o-Y growth.

  • APSEZ’s domestic cargo volumes growth in H1 FY24 is over 2x India’s cargo volume growth rate.

  • Mundra, completed 25 years of successful operations, and continues to be the largest seaport of India based on cargo volumes.

  • Mundra Port achieved the 4 Mn TEUs milestone in record time of just 203 days on 20th Oct’23, a feat achieved in 225 days in the previous financial year.

  • With 4.2 million TEUs of container cargo handled on YTD basis (Apr-Oct’ 23), Mundra is headed towards another benchmark.  

  • In Oct’ 23, Mundra Port created another record of handling the highest-ever volumes (16.1 MMT) by any port in India.

  • Eight of our ports recorded their highest ever half yearly cargo volumes in H1 FY24 – Mundra, Tuna, Dighi (since the time of acquisition), Hazira, Ennore, Dhamra, Krishnapatnam (since the time of acquisition) and Gangavaram (since the time of acquisition)

  • ALL recorded highest ever half yearly Rail and GPWIS volumes in H1 FY24 and also on YTD (Apr-Oct’ 23) basis.