Adani Ports Q2 net profit surges 27%, reaffirms FY26 guidance

Adani Ports and Special Economic Zone Ltd. (APSEZ) reported a strong set of Q2 numbers, with profit and revenue surpassing Street estimates.The company’s net profit rose 27.2% year-on-year to ₹3,109 crore, compared with ₹2,445 crore in the same quarter last year. Revenue grew 29.7% to ₹9,167.5 crore from ₹7,067 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 27% to ₹5,548 crore from ₹4,369 crore. Operating margin stood at 60.5% as against 61.8% a year ago.
Cargo volumes rose 12% year-on-year to 124 million metric tonnes (MMT) from 111 MMT in the year-ago period.Adani Ports reaffirmed its FY26 guidance, projecting port cargo volumes in the range of 505-515 MMT, compared to 450 MMT in FY25.

It expects FY26 revenue of ₹36,000-38,000 crore and EBITDA of ₹21,000-22,000 crore, with a capex plan of ₹11,000-12,000 crore. The company maintained its net debt-to-EBITDA policy of up to 2.5x.

Trucking revenue is estimated to grow 3x-4x from ₹428 crore in FY25, while marine services revenue is expected to double from ₹1,144 crore in FY25.

Following the earnings announcement, shares of Adani Ports and Special Economic Zone Ltd. are trading lower at ₹1,442.30. The stock is up 18% so far in 2025.