Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest integrated ports and logistics player, reported robust operational performance for June and Q1 FY26, handling 41.3 million metric tonnes (MMT) of cargo in June 2025 alone, marking its continued dominance in the Indian ports sector.
Key Highlights
- June 2025 Cargo Volumes: 41.3 MMT
- Q1 FY26 Cargo Volumes (Apr-Jun): 123.3 MMT
- YoY Growth (Q1): +11% compared to 111 MMT in Q1 FY25
Month-Wise Cargo Performance
| Month | Cargo Volume (MMT) | YoY Growth (%) |
|---|---|---|
| April 2025 | 39.7 | +10.8 |
| May 2025 | 42.3 | +11.3 |
| June 2025 | 41.3 | +10.9 |
| Q1 Total | 123.3 | +11.0 |
Segment-Wise Cargo Analysis
| Cargo Type | Q1 FY26 Volume (MMT) | YoY Growth (%) | Share Of Total (%) |
|---|---|---|---|
| Dry Bulk | 58.4 | +9.5 | 47.4 |
| Containers | 39.2 | +12.8 | 31.8 |
| Liquid & Gas | 20.1 | +10.2 | 16.3 |
| Others | 5.6 | +8.1 | 4.5 |
| Total | 123.3 | +11.0 | 100 |
Key Drivers Behind The Growth
- Strong Container Cargo Handling:
Container volumes rose by 12.8% YoY, driven by higher imports of consumer goods, electronics, and industrial inputs as well as strong export demand for agri-products and pharmaceuticals. - Dry Bulk Cargo Surge:
Coal imports for power generation, iron ore shipments for steelmakers, and cement clinker exports supported a 9.5% rise in dry bulk cargo. - Liquid & Gas Growth:
Increased crude oil imports, edible oil shipments, and LNG volumes contributed to a 10.2% rise in this segment.
Top Performing Ports Under APSEZ (Q1 FY26)
| Port | Q1 Cargo Volume (MMT) | YoY Growth (%) |
|---|---|---|
| Mundra (Gujarat) | 42.7 | +9.8 |
| Hazira (Gujarat) | 12.3 | +8.5 |
| Dhamra (Odisha) | 10.2 | +11.2 |
| Krishnapatnam (AP) | 15.4 | +13.5 |
| Kattupalli & Ennore (TN) | 8.6 | +12.0 |
| Others | 34.1 | +11.1 |
| Total | 123.3 | +11.0 |
Mundra Port continues to be APSEZ’s flagship, handling more than one-third of total cargo, while Krishnapatnam and Dhamra posted double-digit growth driven by strong coal and iron ore cargoes.
Management Commentary
APSEZ official statement:
“We have recorded an impressive 11% volume growth in Q1 FY26, led by broad-based performance across dry bulk, containers, and liquids. Our operational efficiencies, strategic hinterland connectivity, and customer-centric approach continue to drive market leadership.”
Strategic Growth Initiatives
- Eastern Coast Expansion:
Significant capacity enhancement plans are underway at Dhamra and Krishnapatnam ports to cater to steel, coal, and container trade demand. - Logistics Integration:
Expansion of Multi-Modal Logistics Parks (MMLPs) and inland terminals for seamless cargo evacuation and faster turnaround. - Green Port Goals:
APSEZ aims to become net zero by 2040, deploying renewable energy at terminals and investing in green ammonia bunkering infrastructure.
Adani Ports’ Market Share In India (Q1 FY26)
| Port Operator | Cargo Handled (MMT) | Market Share (%) |
|---|---|---|
| Adani Ports | 123.3 | 27.5 |
| Major Ports Combined | 242.1 | 54.0 |
| Other Private Ports | 82.4 | 18.5 |
| India Total | 447.8 | 100 |
Adani Ports continues to hold over a quarter of India’s port cargo market, reflecting its dominant integrated infrastructure network spanning the west and east coasts.
Outlook For FY26
- Volume Guidance:
APSEZ targets ~500 MMT annual cargo volumes in FY26, aiming for an 11-13% growth. - Capex Plans:
Rs 20,000 crore investment pipeline over the next 3-4 years, focusing on capacity expansion, LNG terminals, and green energy initiatives. - Global Ventures:
Strategic investments in Haifa Port (Israel) and Colombo West Container Terminal (Sri Lanka) to strengthen international footprint.
Analyst Insights
Anand Rathi Research:
“Adani Ports’ diversified cargo mix, integrated logistics operations, and pan-India port footprint provide strong earnings visibility, despite global trade uncertainties.”
Motilal Oswal Institutional Equities:
“We expect APSEZ to continue outperforming Indian port sector growth, driven by container and liquid cargo segments, along with strategic eastern coast expansions.”
Key Challenges Ahead
- Global Trade Volatility:
Weak Chinese steel demand and geopolitical risks (Red Sea disruptions) may impact dry bulk exports. - Regulatory Scrutiny:
Environmental and ESG compliance for port expansions will require stringent adherence to state and central guidelines. - Competition:
Growing capacity at other private and major ports such as JSW Jaigarh, Gopalpur, and JNPT terminals.
Conclusion
With 41.3 MMT cargo handled in June and 123.3 MMT in Q1 FY26, Adani Ports has reinforced its market leadership, backed by diversified cargo growth and strategic port-logistics integration. As India’s infrastructure and trade volumes continue to expand, APSEZ remains a key catalyst for the country’s logistics efficiency and global maritime competitiveness.
Disclaimer:
This article is based on operational data released by Adani Ports, market analyst reports, and official ministry statistics. It is intended solely for informational and journalistic purposes. Readers are advised to refer to APSEZ investor releases and SEBI filings for audited quarterly financial and operational results.
