Adani Ports Q2 Results: Profit Rises 18% to ₹3,682 Crore, Guidance Raised

Adani Ports and Special Economic Zone (APSEZ) on Wednesday announced an 18% increase in its consolidated net profit to ₹3,682 crore for the quarter ended September. Along with its Adani Ports Q2 results, the company raised its FY27 revenue guidance.

The quarterly profit compares with ₹3,120 crore a year earlier. The company announced the results on October 28. Its revenue increased by 24% to ₹11,340 crore from ₹9,167 crore, and its EBITDA increased by 23% to ₹6,807 crore from ₹5,550 crore.

Revenue grew by 21% to ₹22,161 crore in H1 FY27. EBITDA also grew by 21% to ₹13,347 crore. Net profit for the half was ₹7,332 crore, 14% higher than last year’s H1 figure of ₹6,431 crore.

Adani Ports Q2 results: international ports lead growth

Domestic ports continued to be the biggest revenue driver, growing 13% to ₹7,177 crore, while EBITDA grew 11% to ₹5,201 crore. During the quarter, the segment handled 118 million tonnes of cargo with an EBITDA margin of 72.5%.

APSEZ said its all-India cargo market share stood at 27.3%, with a container market share of 44.4%. Its domestic port capacity is now 671 million tonnes.

Foreign operations were the best performer. International ports revenue grew 71% to an all-time high of ₹1,839 crore. Its EBITDA increased 236% to ₹878 crore, a margin of 47.7%, which is also the highest ever.

Volume through international ports increased to 24 million tonnes from 10 million tonnes last year. The company attributed this to growth at Colombo West International Terminal in Sri Lanka and its Tanzania operations, as well as some contribution from the North Queensland Export Terminal in Australia.

The Colombo terminal handled 2 million TEUs (twenty-foot equivalent units) in its first 18 months of operation, the company said. Tanzania posted its highest quarterly volume of 265,518 TEUs.

The logistics segment posted 21% growth to ₹1,273 crore. This came after a first quarter that the company said was hit by the West Asia crisis. Marine revenue rose 57% to ₹1,007 crore as its fleet increased to 138 vessels from 127 a year earlier.

APSEZ FY27 guidance raised on strong first half

Based on the strong first-half performance, APSEZ increased its FY27 revenue guidance by ₹1,000 crore to ₹44,000–46,000 crore. It also raised its EBITDA guidance by ₹1,000 crore to ₹26,000–27,000 crore.

Capital expenditure guidance for the year was raised to ₹15,000–17,000 crore from ₹12,000–14,000 crore earlier. The company kept its net debt-to-EBITDA ceiling unchanged at up to 2.5 times.

Ashwani Gupta, whole-time director and CEO, said the domestic ports business continued to anchor earnings. International ports, logistics and marine are now emerging as additional growth engines, he added.

“Our balance sheet remains exceptionally strong,” Gupta said in the release. APSEZ reported net debt-to-EBITDA of 1.8 times, gross debt of ₹57,717 crore and a cash balance of ₹12,502 crore at the end of September.

Operating cash flow of ₹13,327 crore in the first half funded capex of ₹10,521 crore, leaving free cash flow of ₹2,806 crore. The company has invested ₹30,346 crore over the past two years. S&P Global Ratings has upgraded its rating on APSEZ to “BBB” from “BBB-” with a stable outlook.

Why it matters and what comes next

The Adani Ports Q2 results demonstrate how the company has been diversifying its income sources beyond the domestic coast. For investors, the increase in international margins and the higher guidance point to momentum that held up after a first quarter hit by the West Asia situation.

APSEZ’s expansion is important to Indian exporters, importers and shipping lines. The company has secured a 30-year concession for two dry bulk berths at Paradip Port, which will provide an additional 18 million tonnes of mechanised capacity. It has also started EXIM operations at Vizhinjam port in Kerala.

The higher capex guidance suggests a faster build-out in the second half. With Phase II now operational, the company has doubled the capacity of its Colombo terminal from 1.6 million to 3.2 million TEUs.

Moving forward, APSEZ aims to achieve revenue of ₹91,500 crore and EBITDA of ₹52,000 crore by FY31. Investors will watch how far the overseas and logistics businesses can outgrow the port operations without pushing leverage beyond the company’s threshold.

Readers can follow earnings from other Adani Group companies, including Adani Green’s Q2 results, and the latest corporate updates on our business news page. The full figures are in the APSEZ Q2 FY27 earnings release.

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Note: Fact & grammar check done — 44 corrections. Phrasly output was heavily reworded; all figures were restored against the APSEZ release. Prior FY27 guidance ranges are from the APSEZ release (Business Standard did not state them). BW Businessworld source is labelled AI-generated and was used only to cross-check H1 figures, which match the company release. No share-price move is reported.

Sources (fact-check):

• https://www.adani.com/newsroom/media-releases/apsez-delivers-24percent-revenue-and-23percent-ebitda-growth-in-q2-fy27-raises-fy27-revenue
• https://www.business-standard.com/companies/quarterly-results/adani-ports-q2-profit-rises-18-to-3-682-crore-raises-fy27-guidance-126102801519_1.html
• https://www.businessworld.in/article/adani-ports-q2-profit-jumps-18-to-rs-3-682-cr-revenue-surges-24-630867