Adani Ports and Special Economic Zone (ADANIPORTS) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 consolidated revenue grew 19% year-over-year to ₹10,821 crore, with EBITDA up 19% to ₹6,541 crore and an EBITDA margin of 60.4%.

• PAT rose 10% YoY to ₹3,650 crore, and PBT increased 12% YoY to ₹4,307 crore.

• Cargo volumes reached 138.1 MMT, up 14% YoY, with international volumes surging 196% YoY.

• Maintained strong market share: 27.6% in all-India cargo and 44.8% in container cargo.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved by the Board and reviewed by the Audit Committee.

Financial highlights

• Consolidated revenue: ₹10,821 crore (+19% YoY); EBITDA: ₹6,541 crore (+19% YoY); PAT: ₹3,650 crore (+10% YoY).

• Net debt/EBITDA at 1.9x, gross debt at ₹56,776 crore, cash balance at ₹12,428 crore.

• ROCE improved to 16% in FY26; EBITDA margin at 60.4%.

• Other income included ₹518 crore dividend from JVs, impacting year-over-year comparability.

• Earnings per share (consolidated, basic and diluted) for the quarter was ₹15.71.

Outlook and guidance

• FY27 revenue guidance: ₹43,000–45,000 crore; EBITDA guidance: ₹25,000–26,000 crore.

• On track to more than double revenue, EBITDA, and cash flows by FY 2031, targeting 18%-19% CAGR.

• Capacity expansion underway to reach 1 billion metric tons by 2031, with major projects at Mundra, Dhamra, Vizhinjam, Ennore, and Kattupalli.

• EBITDA guidance for FY27 remains unchanged pending further clarity after H1 due to ongoing uncertainties.

• The company continues to monitor regulatory changes, including the implementation of new Labour Codes and their impact on defined benefit obligations.