Adani Ports' Q2 profit rises 18 per cent to ₹3,682 crore

Adani Ports and Special Economic Zone Limited (APSEZ) has recorded a net profit of ₹3,682 crore in the second quarter ended September 30, marking an 18 per cent increase. Following strong operational performance, the company has also raised its revenue, EBITDA, and capital expenditure (capex) targets for FY2027.

According to an NDTV report, the company's consolidated revenue increased by 24 per cent to reach ₹11,340 crore compared to the same period last year. The company's EBITDA also rose by 23 per cent to ₹6,807 crore. Significant contributions from ports, logistics, and marine businesses have driven this growth.

Revenue from the company's domestic ports increased by 13 per cent, with its EBITDA margin remaining stable at 72.5 per cent. Alongside this, significant progress was also observed in the international ports sector, where revenue surged by 71 per cent and EBITDA grew 3.4 times. The EBITDA margin for international ports reached a record level of 47.7 per cent.

The logistics business recorded a 21 per cent increase in revenue due to the expansion of its integrated "shore-to-door" network. Meanwhile, revenue from the marine segment increased by 57 per cent, made possible by global fleet expansion and the company's entry into subsea services.

Speaking on the results, the company's Whole-time Director and CEO Ashwani Gupta stated that the company's diversified growth in domestic and international ports, logistics, and marine businesses continued. He added that based on the first half-yearly performance, the company is revising its revenue, EBITDA, and capex guidance for FY2027.

The company has increased its revenue estimate for FY2027 by ₹1,000 crore, placing it between ₹44,000 crore and ₹46,000 crore. Similarly, the EBITDA target has also been raised by ₹1,000 crore to ₹26,000 crore to ₹27,000 crore. The company has also increased its capital expenditure target by ₹3,000 crore, bringing it to between ₹15,000 crore and ₹17,000 crore.

Regarding its financial position, the company stated that its balance sheet remains strong despite its investment programmes. During the first half-yearly period, operating cash flow stood at ₹13,327 crore, through which ₹10,521 crore was invested. Even after cumulative capital expenditure of ₹30,346 crore over the last two years, the net debt-to-EBITDA remains at 1.8x.