Adani Ports Q1 PAT grows 7% to ₹3,311 cr as logistics, marine boost 21% revenue growth

Adani Ports and Special Economic Zone Limited (APSEZ) has reported a 21% growth in its revenue to ₹9,126 crore for the April-June 2025-26 period, driven by good momentum in logistics and marine businesses, which grew 2 times and 2.9 times, respectively. The Adani group company's EBITDA grew 13% year-on-year to ₹5,495 crore, while PAT surged 7% to ₹3,311 crore. The domestic ports revenue increased by 14% YoY to ₹6,137 crore, while the domestic ports EBITDA margin stood at 74.6% (vs. 72.5% in Q1 FY25).

The international ports revenue increased 22% YoY to ₹973 crore, with EBITDA margin at 21% vs. 13% in Q1 FY25. The logistics revenue grew 2x YoY to ₹1,169 crore, and marine revenue grew 2.9x YoY to ₹541 crore. During the said quarter, S&P Global revised the ratings outlook on APSEZ to 'Positive' from 'Negative', reaffirming the BBB- rating.

The company says it achieved a tenor increase and yield reduction through the issuance of ₹5,000 crore NCDs for 15 years to LIC. The transaction highlights access to domestic markets for its longest-tenured issuance and the launch of a tender offer to buy back up to $450 million of outstanding USD-denominated bonds. As of 29 July 2025, APSEZ received $384 million of tenders (tender offer will expire on 13 August 2025).

As of Q1 FY26, APSEZ's cash balance stood at ₹16,921 crore, with gross debt hitting ₹53,089 crore.

Ashwani Gupta, Whole-time Director & CEO, APSEZ, said: “These (logistics and marine) are no longer ancillary verticals - they are reshaping the contours of our future-ready ports ecosystem. With expanding Trucking and International Freight Network services and a fast-growing, diversified marine fleet in the MEASA region, we are deepening our integrated transport utility approach and extending our value chain from port gate to customer gate. Coupled with cargo growth and market share gains in the domestic ports business, and higher revenue and improving EBITDA in international ports, we remain firmly on track to meet our FY26 guidance”.

During Q1 FY26, APSEZ commenced operations at the Colombo West International Terminal (CWIT), a fully automated, natural deep-water port. CWIT is a public-private partnership under a 35-year BOT agreement. Upon full completion, CWIT will handle c. 3.2m TEUs annually, says the company.

In terms of operational highlights, APSEZ handled 121 MMT (+11% YoY) cargo volume in Q1 FY26, driven by containers (+19% YoY), increasing its all-India cargo market share to 27.8% (27.2% in Q1 FY25) and container market share to 45.2% (45.9% in Q1 FY25).

Amid the Q1 results, shares of Adani Ports and Special Economic Zone were trading 2.71% down at ₹1,351.30 on the BSE.