Adani Ports and Special Economic Zone (APSEZ) on Tuesday shared its monthly business update for January 2025, reporting its highest-ever ever monthly cargo volume at 39.9 MMT, marking a 13% year-on-year (YoY) increase.
Following this update, the stock rose 2.3% to its day’s high of Rs 1,109.40 on the BSE.
The strong performance was primarily driven by robust growth in container volumes, which surged 32% YoY. Liquids and gas cargo also contributed significantly to the overall growth, registering an 18% YoY increase. These two segments have been key drivers for APSEZ, demonstrating the company’s strength in handling diverse cargo types.
For the year-to-date (YTD) period up to January 2025, APSEZ handled a total cargo volume of 372.2 MMT, representing a 7% YoY growth. Similar to the monthly performance, the YTD growth was spearheaded by containers (20% YoY increase) and liquids and gas (9% YoY increase).
APSEZ also provided updates on its logistics operations. The rail volumes reached 0.53 million twenty-foot equivalent units (TEUs), up 9% YoY. Furthermore, general-purpose vessel and wagon information system (GPWIS) volumes reached 18.1 MMT, reflecting a 12% YoY increase.
Adani Ports Q3 results
APSEZ reported a 14% YoY growth in its December quarter consolidated net profit at Rs 2,520 crore versus Rs 2,208 crore posted in the year-ago period, which was lower-than-expected, as the analysts had estimated it in the range of Rs 2,597 crore – Rs 2,711 crore.
The Q3FY25 revenue from operations stood at Rs 7,964 crore which was up by 15% over Rs 6,920 in the corresponding quarter of the previous financial year.
Adani Ports share price target
Global brokerage firm Goldman Sachs, in its recent note, mentioned that it has maintained a ‘buy’ rating on Adani Ports with a target price of Rs 1,560, believing that the recent correction in the stock price makes the risk-reward profile attractive.
With the resumption of coal capex in India, Goldman Sachs expects volume contribution to stabilize at current levels. Adani Ports has also continued to gain market share, and its logistics business is experiencing healthy growth.