Analyst Concall
Adani Ports to grow Mundra business via container cargo
This story was originally published at 21:29 IST on 3 February 2026
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--Adani Ports: Mundra port handled 2.2 mln containers in Q3, 754,000 in Jan
--CONTEXT: Comments by Adani Ports mgmt in post-earnings analyst call
--Adani Ports: Evaluating addition of rail capacity at Vizhinjam port
--Adani Ports: See Dhamra port cross 100 mln tonnes per annum of cargo
--Adani Ports: Hope to maintain 11% growth in container volumes
--Adani Ports: Weightage of coal in cargo seen 20-22% in 5 years vs 30% now
By Sunil Raghu and Arya S. Biju
MUMBAI- Adani Ports and Special Economic Zone Ltd. is focussing on increasing its container cargo at its flagship port of Mundra, with new container terminal expected to become operational next year, the company's management said Tuesday to analysts in post December quarter earnings conference call.
"Mundra growth is driven by container, container, and container. That's why we decided to invest in container terminals," a senior company management official said. "I always talk about container, container and container, because we know that two of the power plants in Mundra are highly dependent on the imported coal."
Mundra is home to two power plants – 4,000 megawatts ultra mega thermal power plant of Tata Power Ltd. and another thermal plant of similar capacity by Adani Power. Both these thermal plants operate on coal imported from Indonesia and Australia. They account for nearly 10-11 million tonnes of coal. The plants have been facing a lot of regulatory issues, leading to multiple closures for over a decade. This has hit volume handling and earnings for Adani Ports. For the December quarter, volumes of the Mundra port, which contributes a little less than half of the company's total volumes, fell 2% on year to 47.6 million tonnes.
The management said that the growth in Mundra is also about growth in liquid cargo. "If you would have seen in the last two quarters, you would have seen the growth in LPG (liquefied petroleum gas) also. And the fertilisers, the agriculture, and so on and so on. So, overall we really want to drive the growth in Mundra by container," the management said.
Mundra handled 2.2 million tonnes of containers in the December quarter and 754,000 containers in the month of January, a senior company management official said.
On overall basis, Adani Ports management said they see weightage of coal in cargo at 20-25% in the coming five years, from around 30% currently. They said the endeavour was also to maintain growth in container volumes at 11%.
The company's all-India cargo share for Apr-Dec rose marginally to 27.4% from 27.2% a year ago and container cargo share rose to 45.6% from 45.2% a year ago. The company said it is on track to achieve 1 billion tonnes of cargo volume by 2030. The company's management said they have clear view that 150 million tonnes of cargo would be from four of its international operations. "Now, if we do add anything more in the international, it will actually add to the comfort of a billion tonne," the management said.
The remaining share of cargo would come via domestic ports it operates. Adani Ports currently operates 15 ports and terminals across the country and in Israel, Tanzania, Sri Lanka and Australia. The company is also mulling putting its newly operational transhipment port at Vizhinjam in Kerala on railway map. However, they added that any phase 2 expansion of this port would be only after it has achieved its initial volume target of 2030. The management is also bullish about volume growth at its Dhamra port in Odisha and says that it can end up handling even 100 million tonnes of cargo in time to come.
The company's bottom line for the December quarter jumped over 21% on year to INR 30.54 billion, and its top line for the quarter rose to INR 97.05 billion from INR 79.64 billion a year ago. The results were announced during market hours. On Tuesday, shares of the company closed at INR 1,530.80, up 9%, on the National Stock Exchange. End
Edited by Deepshikha Bhardwaj
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