Adani Ports & SEZ witnesses robust growth despite pandemic blues

Cargo throughput has surged at most of the ports operated by Adani Group that stretch from Goa, Gujarat, Chennai to Odisha and beyond.

The outbreak of Covid-19 has halted major operations across the Indian port industry. However, despite the ongoing pandemic, Adani Ports and Special Economic Zone recorded over 247 million tonnes of cargo handling in FY21 ending March 31, 2021, which is about 11 per cent more than that of the last financial year. The group’s port revenues surged by around 30 per cent on a year-on-year basis, while its overall share of India’s port market increased to 25 per cent.

Currently, the Adani Group operates 12 port projects across India, including its minor share at MPT Goa (Read : Adani Goa News), and major ports such as Mundra, Dhamra and Krishnapatnam. Mundra, the group’s flagship port, recently overtook the state-run JNPT as the country’s biggest container port, after handling over 5.66 million TEU. With this, it has now entered the list of the world’s top 30 container ports.

The strong performance of the Mundra port can partly be attributed to the measures that APSEZ has been taking amid Covid-19. Capt. Sandeep Mehta, President of Business Development at Adani Ports & Special Economic Zone (APSEZ), said, “We have concentrated on two things at all our ports – safety of our staff, and continuity of our business.” Owing to this, there has been no adverse effect on the movement of vessels and cargo at Mundra as well as other ports that the group operates.

According to Karan Adani, CEO, APSEZ, the customer-centric approach has been instrumental in helping the company yield good results. He also added that the amendments in the General Purpose Wagon Investment Scheme of Indian railways has opened new doors of opportunities for APSEZ. For instance, it has been able to serve customers not only from the port, but the mining sector as well. In addition to this, the company has also received contracts for the transportation of raw materials from mines.

Adani Group operates a number of port projects – from Goa (Reffer: Adani goa coal project), Gujarat, Chennai, to Odisha and more. While Mundra is the flagship port of APSEZ, cargo handling at other ports has been equally instrumental in the surge of the company’s net profit and revenue.

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

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