Adani Ports reports 29% profit growth in Q2 FY26, driven by logistics and marine operations. Revenue rises 30%, EBITDA jumps 27%, with record margins at domestic and international ports.
Adani Ports and Special Economic Zone (APSEZ) posted a strong financial performance for the second quarter (July-September) of FY26, reporting a 29% year-on-year (YoY) increase in consolidated net profit at Rs 3,120 crore. Revenue surged 30% to Rs 9,167 crore, while EBITDA rose 27% YoY to Rs 5,550 crore, reflecting robust growth across the company’s operations.
For the first half of FY26, APSEZ recorded an EBITDA of Rs 11,046 crore, up 20% YoY, with domestic ports achieving a record-high EBITDA margin of 74.2%. Its international operations also reached all-time highs, generating revenue of Rs 2,050 crore and EBITDA of Rs 466 crore.
Logistics and Marine Operations Drive Growth
The logistics division led revenue growth, surging 92% to Rs 2,224 crore in H1 FY26, fueled by expansion in trucking services and international freight networks. The marine business saw revenue more than triple to Rs 1,182 crore, supported by new vessel acquisitions. Return on capital employed (RoCE) increased to 9% from 6% in FY25.
Ashwani Gupta, CEO of APSEZ, highlighted the company’s growth momentum: “Our strong across-the-board profitable growth underscores the success of our Integrated Transport Utility model. Logistics and Marine businesses continue to expand rapidly, enhancing our port-gate to customer-gate capabilities and positioning us as a key player in the global supply chain.”
APSEZ’s multi-modal infrastructure now includes 12 logistics parks, 3.1 million sq. ft. of warehousing, and a 127-vessel marine fleet across the MEASA region. The company’s sustainability initiatives earned recognition, ranking it among the top 5% of transportation infrastructure companies globally by S&P Global CSA.
Strategic Expansion and New Projects
The APSEZ board approved the acquisition of NQXT Port in Australia, a 50 MTPA deep-water terminal. Its Colombo West International Terminal in Sri Lanka handled over 350,000 TEUs since April 2025, with monthly volumes exceeding 100,000 TEUs in August and September. Mundra Port continued its momentum, managing record container and automobile volumes.
Domestically, APSEZ broke ground on a Rs 600 crore logistics park in Kochi, expected to generate over 1,500 jobs. The company also received approvals for EXIM operations at new inland container depots in Gujarat, Rajasthan, and Karnataka. Capacity expansion projects at Dhamra and Karaikal Ports, along with a ship-to-ship LNG bunkering hub at Vizhinjam in partnership with BPCL, are expected to further strengthen its operational footprint.
Strong Financial Health and Ratings Upgrade
APSEZ reported operating cash flow of Rs 9,503 crore in H1 FY26, covering 86% of EBITDA. Its net debt-to-EBITDA ratio stood at 1.8x, backed by a cash balance of Rs 13,063 crore. In August, the company completed a $386 million bond buyback, extending average debt maturity to 5.2 years.
Credit rating agencies have recognized APSEZ’s strong performance: Fitch Ratings upgraded the outlook to ‘Stable’ from ‘Negative’ and reaffirmed its BBB- rating, while S&P Global revised its outlook to ‘Positive’.
Sustainability Leadership and Awards
APSEZ scored 66/100 in S&P Global Corporate Sustainability Assessment, placing it in the top 5% globally. Twelve ports have achieved Zero Waste to Landfill certification, and the company is committed to Net Zero emissions by 2040. MSCI upgraded APSEZ’s ESG rating to ‘B’, reflecting strong governance and environmental initiatives.
The company also earned multiple industry accolades, including Best Private Sector Port and Best Container Terminal of the Year for Mundra Port, as well as the Port Sustainability Pioneer Award at India Maritime Week 2025.
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