- Revenue surges 22% YoY to ₹9,705 Cr as integrated transport strategy gains scale
- Logistics, Marine and International Ports clock sharp growth; asset-light push pays off
- Domestic Ports EBITDA hits lifetime high of ₹4,877 Cr; container market share at 45.8%
- NQXT Australia acquisition completed; on track for 1 billion tonnes cargo by 2030
- Global rating upgrades and TNFD adoption reinforce balance sheet strength and ESG leadership
NE BUSINESS BUREAU
AHMEDABAD, FEB 3
Adani Ports and Special Economic Zone Limited (APSEZ) reported a robust performance in Q3 FY26, with consolidated EBITDA rising 20% year-on-year to ₹5,786 crore, driven by strong momentum across ports, logistics and marine services. Revenue for the quarter grew 22% YoY to ₹9,705 crore, while profit after tax increased 21% to ₹3,043 crore.
Reflecting sustained operating strength and the consolidation of NQXT Australia, APSEZ raised its FY26 EBITDA guidance by ₹800 crore to ₹22,800 crore—higher than even the top end of its earlier forecast. Nine-month FY26 EBITDA stood at ₹16,832 crore, up 20% YoY, with revenue at ₹27,998 crore, a growth of 24%.
Operationally, cargo volumes reached 123 MMT in Q3 FY26, up 9% YoY, while nine-month volumes grew 11% to 367 MMT. The company’s all-India container market share improved to 45.8% in Q3, underscoring its leadership in high-value cargo.
Domestic Ports continued to anchor performance, with quarterly revenue rising 15% YoY and EBITDA touching a lifetime high of ₹4,877 crore. International Ports crossed a key milestone, with quarterly revenue exceeding ₹1,000 crore at ₹1,067 crore, while EBITDA more than doubled. The Logistics business delivered standout growth, with Q3 revenue jumping 62% YoY to ₹1,121 crore, led by asset-light trucking and the International Freight Network. Marine revenues surged 91% YoY to ₹773 crore, supported by ongoing vessel acquisitions, with EBITDA rising 135% to ₹428 crore.
Commenting on the results, Ashwani Gupta, Whole-time Director & CEO, said:
“As India’s largest and the world’s fastest-growing Integrated Transport Utility, APSEZ has once again delivered a strong and resilient performance. Sustained momentum across our four business pillars, combined with the consolidation of NQXT, has enabled us to raise the upper end of our FY26 EBITDA guidance by a robust ₹800 Cr. Even after the NQXT acquisition, our leverage remains unchanged, underscoring the strength of our balance sheet and our disciplined approach to capital allocation. Our financial and operational stability has been further reinforced by multiple credit rating upgrades… Our continued focus on capacity expansion, operational excellence and superior customer experience positions us strongly to deliver on these commitments. Sustainability remains central to our growth strategy… setting a new benchmark for nature-positive infrastructure development.”
During the quarter, APSEZ completed the acquisition of NQXT Australia, strengthening its international footprint along the East–West trade corridor. The company reiterated its ambition to achieve 1 billion tonnes of cargo volume by 2030.
Balance sheet metrics remained healthy, with net debt to EBITDA at 1.9x. Credit agencies reinforced confidence in APSEZ’s profile, with Japan Credit Rating Agency assigning an “A-/Stable” rating—above India’s sovereign rating—while Moody’s revised its outlook to “Stable” and reaffirmed “Baa3”.
Further cementing its ESG credentials, APSEZ became India’s first Integrated Transport Utility to adopt the Taskforce on Nature-related Financial Disclosures (TNFD), underlining its commitment to sustainability-led growth.
