Adani Ports Q1 Net Profit Rises 6.5%, Chair Gautam Adani Steps Down From Executive Role

Adani Ports and Special Economic Zone Ltd (APSEZ) reported a 6.5% year-on-year rise in consolidated net profit for the quarter ending June 30, 2025. The company earned ₹3,315 crore in profit after tax in Q1 FY26, driven by growth in cargo volumes, compared to ₹3,113 crore in the same quarter last year.

APSEZ posted a 31% rise in consolidated revenue to ₹9,126 crore for the quarter, up from ₹6,956 crore in Q1 FY25. Cargo volumes grew 11% year-on-year, outpacing 8% growth in the previous quarter and 7.5% a year earlier. The company reaffirmed its FY26 cargo volume forecast at 505–515 million metric tonnes.

At the close of trade on August 5, APSEZ shares were down 2.3% at ₹1,357 apiece.

The company, which holds a 28% share of the domestic port market, also announced a change in executive leadership as Gautam Adani stepped down from managerial duties. The Adani Group patriarch will now transition from Executive Chairman to Non-Executive Chairman.

Adani is being succeeded by Manish Kejriwal, Founder and Managing Partner of private equity firm Kedaara Capital, who will also serve as an Additional Director (Non-Executive, Independent) for three years.

APSEZ's domestic ports business reported a 14% year-on-year revenue rise to ₹6,137 crore in Q1 FY26, with an EBITDA margin of 74.6%. International ports revenue grew 22% to ₹973 crore, with margins improving to 21% from 13% a year ago. Logistics revenue doubled to ₹1,169 crore, while marine revenue nearly tripled to ₹541 crore. Consolidated EBITDA rose 13% to ₹5,495 crore, reflecting a 60% margin.

“This quarter’s 21% revenue growth is anchored by extraordinary momentum in our Logistics and Marine businesses, which grew 2x and 2.9x respectively,” said Ashwani Gupta, Whole-time Director & CEO, APSEZ. “These are no longer ancillary verticals – they are reshaping the contours of our future-ready ports ecosystem, with an expanding trucking and international freight network.”

Operationally, the company handled 121 MMT of cargo in the quarter, up 11% year-on-year, driven by 19% growth in container volumes. Market share rose to 27.8% in overall cargo and 45.2% in containers. Its operations at Israel’s Haifa Port achieved record quarterly revenue and EBITDA with 29% growth in overall volumes, while Krishnapatnam Port logged its highest-ever monthly cargo of 5.85 MMT in June 2025.

Container rail volumes increased 15% to 179,479 TEUs, while GPWIS volumes rose 9% to 6.05 MMT. APSEZ also expanded EXIM operations to new ICDs in Gujarat, Rajasthan, and Karnataka, launched double-stack container rake movements, and set new records at Mundra Port for daily TEU handling and double-stack rake loading.

During the quarter, APSEZ issued ₹5,000 crore of NCDs to LIC for 15 years, launched a tender offer to buy back up to $450 million of USD bonds, reduced bond yields by up to 116 bps, and ended the quarter with ₹16,921 crore cash and ₹53,089 crore gross debt, resulting in a net debt-to-EBITDA ratio of 1.8x.

“Coupled with cargo growth and market share gains in the domestic ports business, and higher revenue and improving EBITDA in international ports, we remain firmly on track to meet our FY26 guidance,” said Gupta.