APSEZ Q1 FY27 Revenue and EBITDA Grow 19% YoY to INR 10,821 Crores and INR 6,541 Crores

APSEZ Q1 FY27 Revenue and EBITDA Grow 19% YoY to INR 10,821 Crores and INR 6,541 Crores

Adani Ports and Special Economic Zone Limited Q1 & FY27 Earnings Conference Call: Domestic Ports, International Ports, Logistics and Marine Businesses Deliver Strong Growth

The Print Times

Adani Ports and Special Economic Zone Limited (APSEZ) Q1 & FY27 Earnings Conference Call was attended by Mr. Ashwani Gupta, Whole-Time Director and Chief Executive Officer. He said that the company was again demonstrating its ongoing confidence in the growth trajectory, adding that its resilient and diversified business model continues to deliver very strong growth despite multiple macroeconomic challenges.

“Quarter 1 FY27, revenue and EBITDA both grew 19% year-on-year to INR 10,821 crores and INR 6,541 crores, respectively,” he said.

The domestic ports business remained a strong growth engine, delivering a 12% increase in revenue and an 11% jump in EBITDA, while maintaining an industry-leading EBITDA margin of 74%.

Mundra Port made a strong comeback with 7% growth in quarter 1. As outlined in Ambition 2031, the company is rapidly expanding its domestic port capacity to 1 billion metric tons, with major projects underway across ports, including Mundra, Dhamra, Vizhinjam, Ennore and Kattupalli.

In international ports, which the company was expecting and which was showing clear quarter-on-quarter growth, this quarter delivered record revenue of INR 1,747 crores, up 80% year-on-year, while EBITDA surged 256%.

The growth was driven by the addition of Australian operations, as well as a very robust and strong ramp-up of Colombo Terminal. Cargo volumes nearly tripled to 22.8 million metric tons from 7.7 million metric tons a year ago.

The increasing contribution from high-margin Australian and Colombo operations resulted in a sharp improvement in EBITDA margins to 41.8%, compared to 21.1% a year ago.

In Logistics, the company continues to focus on scaling up its asset-light businesses. Trucking revenue grew 26%, while international freight network business revenue grew 28%.

“You have seen our FY26 Logistics RoCE, which sharply increased to 10%, and we are continuing to focus on increasing returns in this business,” Mr. Gupta said.

The third business, which is Marine, also delivered strong growth. Marine revenue increased 67% to INR 901 crores, driven by a diverse global fleet of 135 vessels.

The company is focused on expanding the global reach of its Marine portfolio. Recent milestones include its partnership with Oceaneering International to strengthen deepwater engineering and offshore capabilities in Europe, as well as a landmark 10-year contract supporting Argentina's LNG export program.

The company’s growth continues to be underpinned by prudent capital allocation and financial discipline. Despite sustaining a high-growth trajectory, net debt-to-EBITDA remains healthy at 1.9x.

S&P Global Ratings upgraded APSEZ to BBB with a Stable outlook, placing the company at par with India's sovereign rating, while CARE Ratings and ICRA reaffirmed its highest domestic rating of AAA.

Despite a challenging macroeconomic environment, APSEZ continues to deliver strong growth, underscoring the resilience of its strategy and execution.

“We remain firmly on track to more than double revenue, EBITDA and cash flows by FY31,” Mr. Gupta said.

He added that the company’s scale and integrated Port, Logistics and Marine network, with 95% of India hinterland coverage, driven by technology-led operations, a lean organization and balance sheet capacity to fund the growth, positions the company to consistently deliver an 18% to 19% CAGR over the coming years.
 

Published at : Sep 20, 2026 05:27 AM (IST)

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