APSEZ Q2 FY27 profit rises 18% to ₹3,682 crore, revenue jumps 24% to ₹11,340 crore

Adani Ports and Special Economic Zone (APSEZ) reported an 18% year-on-year rise in consolidated net profit to ₹3,682 crore in Q2 FY27, while revenue grew 24% to ₹11,340 crore, supported by growth across its domestic and international ports, logistics and marine businesses.

The company raised its FY27 revenue guidance by ₹1,000 crore to ₹44,000 crore-₹46,000 crore and its earnings before interest, tax, depreciation and amortisation (EBITDA) guidance by the same amount to ₹26,000 crore-₹27,000 crore, following a strong first half of the financial year.

APSEZ also increased its capital expenditure guidance by ₹3,000 crore to ₹15,000 crore-₹17,000 crore as it accelerates investments towards its Ambition 2031 targets. Consolidated EBITDA rose 23% year-on-year to ₹6,807 crore during the quarter ended September 30, 2026.

'International Ports, Logistics and Marine are emerging as powerful growth engines'

“Domestic Ports continue to anchor our earnings, while International Ports, Logistics and Marine are emerging as powerful growth engines,” Ashwani Gupta, whole-time director and CEO of APSEZ, said.

“Reflecting strong H1 performance, we are upgrading our FY27 guidance across revenue, EBITDA and capex,” Gupta added.

The international ports business recorded a 71% increase in revenue to ₹1,839 crore, while EBITDA surged more than threefold to ₹878 crore. Its EBITDA margin reached a record 47.7%, supported by the ramp-up of operations in Colombo and Tanzania and contributions from Australia's North Queensland Export Terminal.

Domestic ports maintain margins as logistics expands

Domestic ports remained the company's largest contributor, with revenue rising 13% to ₹7,177 crore and EBITDA increasing 11% to ₹5,201 crore. The business reported an EBITDA margin of 72.5% and handled 118 million metric tonnes of cargo during the quarter.

The logistics business recorded 21% revenue growth to ₹1,273 crore, while marine revenue increased 57% to ₹1,007 crore, supported by fleet expansion and the company's entry into subsea services.

“As we accelerate investments toward our Ambition 2031 objectives, our balance sheet remains exceptionally strong,” Gupta said.

He added that APSEZ had deployed ₹30,346 crore in capital expenditure over the past two years while maintaining its net debt-to-EBITDA ratio at 1.8 times.

Operating cash flow stood at ₹13,327 crore in the first half of FY27, funding investments of ₹10,521 crore. The company reported a cash balance of ₹12,502 crore at the end of the period.

APSEZ is targeting revenue of ₹91,500 crore and EBITDA of ₹52,000 crore by FY31, equivalent to 2.4 times and 2.3 times its respective FY26 levels.

APSEZ reported consolidated revenue of ₹10,738 crore in Q4 FY26, up 26% year-on-year, while EBITDA rose 20% to ₹6,020 crore.