Adani Ports and Special Economic Zone (APSEZ) has posted robust financial results for the third quarter of FY26, with consolidated net profit rising 21% year-on-year to ₹3,043 crore. This growth reflects strong performance across its core business pillars, including logistics, marine services, international ports, and domestic ports. The company has also raised its full-year EBITDA guidance by ₹800 crore to ₹22,800 crore, signaling confidence in sustained momentum.
Strong Revenue and Cargo Growth
Revenue for the quarter ended December 31, 2025, climbed 22% to ₹9,705 crore, while EBITDA increased 20% to ₹5,786 crore. Over the nine months of FY26, net profit grew 18% to ₹9,474 crore, revenue rose 24% to ₹27,998 crore, and EBITDA expanded 20% to ₹16,832 crore.
APSEZ handled a record 123 million metric tonnes (MMT) of cargo in Q3, up 9% year-on-year, with nine-month volumes reaching 367 MMT, a 11% increase. Domestic ports revenue led with ₹6,701 crore in the quarter, while logistics surged 62% year-on-year to ₹1,121 crore, marine services jumped to ₹773 crore, and international ports hit ₹1,067 crore.
Strategic Expansions and Key Milestones
The company completed the acquisition of NQXT Australia, adding 50 MMT capacity and strengthening its presence along the East-West trade corridor. Mundra Port achieved a milestone by handling a fully laden Very Large Crude Carrier (VLCC) directly at a jetty, cutting transportation costs. Vizhinjam, APSEZ’s greenfield port, handled 1.3 million TEUs in its first year, including 41 Ultra Large Container Vessels (ULCVs), setting new benchmarks for Indian ports.
Logistics growth was driven by asset-light trucking and international freight networks, now accounting for 52% of Q3 revenue. Marine operations saw 91% year-on-year growth in Q3, supported by a fleet of 129 vessels and take-or-pay contracts. International ports revenue for nine months reached a record ₹3,117 crore, up 26%, with domestic ports maintaining a 27.4% all-India cargo market share.
Leadership Outlook and Financial Health
Ashwani Gupta, Whole-time Director & CEO, highlighted the company’s resilience as India’s largest integrated transport utility. He noted multiple credit rating upgrades, including an ‘A-/Stable’ from Japan Credit Rating Agency, and ambitions to double revenue and EBITDA by FY29 to ₹65,500 crore and ₹36,500 crore respectively. APSEZ is on track for 1 billion tonnes throughput by 2030, with expansions at Vizhinjam, Dhamra, Mundra, and others.
Financially, gross debt stands at ₹53,097 crore (post-NQXT), with cash at ₹11,807 crore and net debt-to-EBITDA at a healthy 1.9x. This positions APSEZ strongly amid India’s maritime infrastructure push, benefiting stakeholders in shipping, logistics, and trade.
