APSEZ cargo handling up 9% in FY23, customs receipts rise 96% in 2 yrs

India's largest transport utility will spend Rs 850 cr over time to upgrade port infrastructure

Adani Ports and Special Economic Zone (APSEZ), India’s largest transport utility, has reported a 9 per cent increase in cargo handling at 339 million tonnes in FY23, up from 312 MT in FY22.

The firm, which is led by Billionaire Gautam Adani, handled nearly a quarter of India' port car in FY23. In the process, APSEZ generated Rs 80,732 crore in customs receipts in FY23, up 96 per cent in the last two years. Its rail freight payments more than doubled in the same period.

In non-major ports, its market share increased from 19 per cent in 2012 to 49 per cent in FY23. Last month, APSEZ acquired Karaikal Port Private (KPPL) for Rs 1,485 crore after National Company Law Tribunal (NCLT) approval. APSEZ will spend Rs 850 crore over time to upgrade infrastructure to reduce logistics cost for customers. This comes at a time when the company’ market share in the ports sector increased from 7 per cent to 23.5 per cent from 2012 and 2023.

With the addition of Karaikal, APSEZ’s installed capacity has increased to 580 MT per annum. APSEZ is constructing an 18 million tonnes per annum (MTPA) transshipment container terminal at Kerala’s Vizhinjam and a 4 MPTA bulk terminal at the Haldia Dock Complex.

APSEZ's contribution to government revenue has increased considerably in recent years, said the company. In FY21, customs receipts from cargo routed through the company's ports and inland container depots stood at Rs 41,110 crore. This figure grew to Rs 60,945 crore in FY22 and reached Rs 80,732 crore in the year just ended.

Further, APSEZ has also made substantial rail freight payments to the Indian Railways. Over the last two years, the company's rail freight payments have more than doubled, reaching Rs 14,034 crore in FY23. In FY21, APSEZ made payments of Rs 5927 crore to the Indian Railways. The amount increased to Rs 8,573 crore in FY22.

Waterfront royalties and revenue shares to respective maritime boards and port authorities too increased during the last one year. In FY23, the company's payments amounted to Rs 906 crore on this front, which is a 1.5 time increase compared to the amount paid in FY21 of Rs 622. In FY22, this figure stood at Rs 807 crore. APSEZ saw an increase in the number of vessels handled from 6,485 in FY21 to 8,538 in FY23.