Tag: APSEZ

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Corporate

Adani Ports profit rises 10% on overseas growth

Adani Ports and Special Economic Zone (APSEZ) has started the financial year on a strong note, with its overseas operations emerging as a major driver of growth in the June quarter. The company reported a 10% year-on-year rise in consolidated net profit for the first quarter of FY27, while revenue and EBITDA increased by 19% each.

APSEZ reported a consolidated net profit of ₹3,650 crore for the quarter ended June 30, 2026, compared with ₹3,311 crore in the same period last year. Revenue rose to ₹10,821 crore from ₹9,126 crore, while EBITDA, or earnings before interest, taxes, depreciation and amortisation, increased to ₹6,541 crore from ₹5,495 crore.

The numbers show that APSEZ is increasingly benefiting from its transformation from a largely India-focused port operator into an integrated transport and logistics company with a growing international presence.

The strongest growth came from its international ports business. Revenue from international ports jumped 80% year-on-year to ₹1,747 crore, while EBITDA more than tripled to ₹730 crore, marking a 256% increase. The performance was led by the company’s operations in Australia and Colombo.

Australia played an important role in the increase after NQXT Australia was consolidated into APSEZ from the fourth quarter of FY26. International port volumes rose sharply to 22.8 million tonnes in the June quarter from 7.7 million tonnes a year earlier. Australia contributed 10 million tonnes, Colombo 6.9 million tonnes, Tanzania 3.7 million tonnes and Israel 2.2 million tonnes.

The stronger contribution from international operations also improved profitability. The EBITDA margin for international ports increased to 41.8% from 21.1% a year earlier. Colombo, in particular, recorded a sharp improvement, with revenue rising five times year-on-year as the terminal continued to scale up.

The domestic ports business, however, remains the backbone of APSEZ’s earnings. Revenue from domestic ports rose 12% to ₹6,964 crore, while EBITDA increased 11% to ₹5,152 crore. Cargo volumes handled by domestic ports increased to 115.3 million tonnes from 112.9 million tonnes in the corresponding quarter last year.

The company attributed the domestic performance to higher cargo volumes, a better product mix and improved realisations. Its domestic ports EBITDA margin stood at 74%, highlighting the strong profitability of the core business. APSEZ’s all-India cargo market share was 27.6%, while its container cargo market share stood at 44.8%.

APSEZ is also expanding its capacity to prepare for future cargo growth. Its domestic port capacity stood at 653 million tonnes as of June 30, and the company plans to increase this to 1,000 million tonnes by December 2030. The expansion is expected to support its longer-term growth strategy and strengthen its position in India’s ports and logistics sector.

Another part of the business that performed well was marine services. Revenue from the marine segment increased 67% year-on-year to ₹901 crore, while EBITDA rose 36% to ₹404 crore. The improvement was supported by the addition of vessels, with the fleet increasing to 135 vessels from 118 a year earlier.

APSEZ is also trying to build a wider international marine business. Recent initiatives include a partnership with Oceaneering International for deepwater engineering and offshore capabilities in Europe and a 10-year marine services contract connected with Argentina’s first LNG exports to India.

The logistics business was comparatively steady during the quarter. Revenue was broadly unchanged at ₹1,173 crore, while EBITDA increased 3% to ₹219 crore. The company said rail volumes were affected by the continuing Middle East crisis, although its asset-light trucking business continued to grow. Trucking revenue increased 26% year-on-year, while International Freight Network revenue rose 28% sequentially.

The strong quarterly performance comes as APSEZ continues to diversify beyond traditional port operations. The company now combines port handling with rail transport, logistics parks, warehousing, trucking and marine services. Its integrated model is designed to provide customers with a broader “shore-to-door” logistics network.

APSEZ also maintained its FY27 guidance. The company is targeting revenue of ₹43,000-45,000 crore and EBITDA of ₹25,000-26,000 crore for the full financial year. Its net debt-to-EBITDA ratio stood at 1.9 times at the end of June, below its stated ceiling of 2.5 times.

The company’s balance sheet also received a boost from ratings agencies. S&P Global Ratings upgraded APSEZ’s long-term issuer credit rating to BBB from BBB-, with a stable outlook. CARE Ratings and ICRA also reaffirmed the company’s domestic AAA ratings.

Despite the healthy earnings, APSEZ shares came under pressure after the results. The stock fell around 3% on the BSE following the announcement, even as analysts pointed to the company’s strong operating performance and international expansion.

For APSEZ, the June quarter offers an encouraging start to FY27. Domestic ports continue to provide a stable earnings base, while international ports, marine services and logistics are gradually becoming meaningful sources of growth. Adani Ports challenge now will be to maintain that momentum while managing its expansion, debt and exposure to global trade disruptions.

With overseas assets gaining scale and domestic capacity continuing to expand, APSEZ is positioning itself as more than a port operator. Its latest results suggest that the company’s broader integrated transport and logistics strategy is beginning to translate into stronger and more diversified earnings.

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Beyond

Adani Ports explores landmark stake in UK’s ABP

Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, is exploring a controlling stake in Associated British Ports (ABP), the United Kingdom’s largest port operator, in what could become one of the biggest overseas acquisitions by an Indian infrastructure company. Although discussions are still at an early stage and no formal agreement has been reached, the proposed deal reflects Adani Ports’ growing ambition to build a stronger global presence in ports, logistics and maritime infrastructure.

According to people familiar with the matter, APSEZ has initiated preliminary discussions with stakeholders connected to ABP to evaluate the possibility of acquiring a majority stake. The talks are currently exploratory, and there is no certainty that they will result in a transaction. However, if the deal goes through, it would mark Adani Ports’ largest international acquisition to date and its first major investment in the United Kingdom.

Associated British Ports is one of Britain’s most strategically significant infrastructure companies. The operator manages 21 commercial ports across England, Scotland and Wales and handles nearly a quarter of the UK’s seaborne trade. Its extensive network includes major ports such as Immingham, Britain’s largest port by cargo volume, Southampton, Hull, Cardiff, Newport and Teesport. These ports play a vital role in supporting industries ranging from manufacturing and automotive exports to agriculture, energy and consumer goods.

Apart from handling millions of tonnes of cargo every year, ABP has become a key player in Britain’s renewable energy sector. More than half of the UK’s offshore wind projects rely on ABP’s ports for construction, maintenance and logistics support. This diversified business model has made the company an attractive long-term infrastructure asset for global investors.

The ownership structure of ABP has also created an opportunity for potential buyers. The company is currently owned by a consortium of international institutional investors. Canadian pension funds, including the Canada Pension Plan Investment Board (CPPIB) and Ontario Municipal Employees Retirement System (OMERS), together hold a majority stake. Other shareholders include Singapore’s sovereign wealth fund GIC and Kuwait’s Wren House Infrastructure. Reports suggest that some investors are considering monetising their holdings, opening the door for a possible change in ownership.

While the financial details are yet to emerge, industry estimates value Associated British Ports at over £10 billion, making it one of Europe’s largest privately owned port operators. Any acquisition would therefore represent a significant investment and could become one of the largest cross-border infrastructure deals involving an Indian company.

For Adani Ports, acquiring ABP would be about much more than adding another overseas asset. It would provide the company with an operational foothold in one of Europe’s most developed logistics markets while expanding access to major international shipping routes. A presence in the UK would also strengthen APSEZ’s ability to serve global customers across Asia, Europe, the Middle East and Africa through an integrated port and logistics network.

The proposed acquisition aligns with Adani Ports’ long-term strategy of becoming one of the world’s leading integrated transport and logistics companies. Over the past few years, the company has steadily expanded beyond India through investments in ports and terminals overseas. It already has operations in countries including Israel, Sri Lanka, Australia and Tanzania, while continuing to strengthen its domestic network of ports and logistics parks.

The company’s overseas expansion has gathered pace as international trade patterns continue to evolve. By investing in strategic maritime assets across different regions, APSEZ aims to reduce dependence on any single market while creating a diversified revenue base. Industry experts believe that adding a major European port operator like ABP would significantly enhance the company’s global competitiveness.

Analysts also point out that ABP’s business complements APSEZ’s existing operations. Besides cargo handling, the British operator generates stable revenue through marine services, pilotage, property development and logistics support. Such diversified earnings could provide greater resilience during fluctuations in global trade and shipping activity.

The timing of the reported acquisition talks also coincides with Adani Ports’ strong financial performance. The company recently reported robust quarterly results, driven by higher cargo volumes, improved operational efficiency and growing contributions from its international assets. Healthy cash flows and a strong balance sheet have strengthened APSEZ’s ability to pursue large global acquisitions while continuing investments in India.

The proposed deal, however, is expected to face detailed scrutiny if negotiations advance. Acquisitions involving critical infrastructure assets in the United Kingdom generally require multiple regulatory approvals, including reviews related to national security, competition and foreign investment. Given ABP’s importance to Britain’s economy and supply chains, any ownership change is likely to undergo extensive examination before receiving clearance.

Market experts caution that infrastructure transactions of this scale often take several months to complete. Due diligence, financial negotiations, regulatory assessments and shareholder approvals could all influence the timeline. There is also the possibility that discussions may not culminate in a final agreement.

Neither Adani Ports nor Associated British Ports has officially commented on the reported negotiations. People familiar with the discussions have maintained that talks remain preliminary, and several options are still under evaluation.

Even so, the development highlights APSEZ’s determination to transform itself into a truly global ports and logistics company. From managing India’s busiest private ports to expanding across international markets, the company has consistently pursued opportunities that strengthen its position in global maritime trade.

If the acquisition is eventually completed, it would not only expand Adani Ports’ international portfolio but also mark one of the most significant overseas infrastructure investments by an Indian company in recent years. It would further cement APSEZ’s position among the world’s leading private port operators and reinforce its vision of building an integrated global maritime and logistics network connecting key trade corridors across continents.

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Corporate

Adani plans ₹1.5 lakh cr investment in Kutch

Shares of Adani Ports and Special Economic Zone (APSEZ) drew attention in the stock market after the Adani Group announced a major investment plan for Kutch in Gujarat. The group plans to invest ₹1.5 lakh crore over the next five years, focusing on ports, renewable energy and related infrastructure.

The announcement was made by Karan Adani, Managing Director of Adani Ports, at the Vibrant Gujarat Regional Conference held in Rajkot. He said the investment reflects the group’s long-term confidence in Gujarat and its growing importance in India’s economic development.

A key part of the plan is the expansion of Mundra Port, India’s largest commercial port located in Kutch. According to Adani, the company aims to double the port’s cargo handling capacity over the next 10 years. This expansion is expected to strengthen India’s trade and logistics network and support higher exports and imports.

Another major focus area is renewable energy. The Adani Group plans to fully develop the Khavda renewable energy project, which has a planned capacity of 37 gigawatts (GW). Once completed by 2030, it is expected to be one of the world’s largest renewable energy projects, contributing significantly to India’s clean energy goals.

Karan Adani highlighted that Kutch, which was once considered a remote region, has now become an important hub for ports, power and industrial activity. He said large investments in infrastructure have transformed the region and created new opportunities for businesses and local communities.

The announcement also underlined Gujarat’s strong role in the national economy. The state contributes over 8% to India’s GDP and handles more than 40% of the country’s total port cargo, making it a key driver of growth.

Following the news, Adani Ports shares remained in focus as investors assessed the long-term benefits of the investment plan. Market participants believe the proposed spending could support future growth, improve capacity and strengthen the company’s leadership in the ports and logistics sector.

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Corporate

Adani Ports Q2 Profit Up 29% as Logistics, Marine Shine

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday reported a 29% year-on-year jump in consolidated net profit to ₹3,120 crore for the July–September quarter of FY26, boosted by higher cargo volumes and strong growth in its logistics and marine segments.

Revenue rose 30% to ₹9,167 crore, while EBITDA increased 27% to ₹5,550 crore. For the first half of FY26, revenue stood at ₹18,294 crore, up 25% from a year ago, and profit after tax climbed 17% to ₹6,431 crore.

The company’s domestic ports business achieved a record EBITDA margin of 74.2%, with overall cargo volumes growing 12% year-on-year to 124 million metric tonnes. Market share rose to 28.1%, while container share expanded 150 basis points to 45.9%.

Logistics revenue nearly doubled to ₹2,224 crore in H1 FY26, driven by the ramp-up of trucking and international freight operations, while marine revenue surged 213% to ₹1,182 crore following new vessel acquisitions. International ports delivered a lifetime-high H1 revenue of ₹2,050 crore, reflecting strong performance at Haifa, Colombo, and Dar es Salaam.

Ashwani Gupta, Whole-time Director and CEO, said the results reflect “the success of APSEZ’s Integrated Transport Utility model,” adding that expanding port capacity, marine fleet, and logistics networks is creating a seamless supply chain from “port gate to customer gate.”

Credit ratings agencies turned more optimistic on the company’s outlook. Fitch revised APSEZ’s outlook to “Stable” from “Negative” and reaffirmed its “BBB–” rating, while S&P Global upgraded its outlook to “Positive.”

The company also reported progress in sustainability, ranking among the top 5% of global transportation firms in the S&P Global Corporate Sustainability Assessment and achieving Zero Waste to Landfill certification for 12 ports.

During the quarter, APSEZ announced plans to acquire Australia’s NQXT Port, expand capacity at Dhamra and Karaikal ports, and invest ₹600 crore in a new 70-acre logistics park in Kochi. It aims to handle one billion tonnes of cargo annually by 2030.

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