Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest integrated transport operator, has reported a strong financial performance for the first quarter of FY27, with consolidated revenue rising 19% year-on-year to ₹10,821 crore. The company also recorded a 19% increase in EBITDA, supported by robust growth across its international ports, marine and domestic port businesses.
APSEZ’s international ports business emerged as a key growth driver during the quarter, with revenue increasing 80% year-on-year to ₹1,747 crore and EBITDA surging 256% to ₹730 crore. The strong performance was led by operations in Australia and Colombo, reflecting the growing contribution of the company’s overseas assets. Cargo handled at international ports rose to 22.8 million metric tonnes (MMT), compared with 7.7 MMT in the corresponding quarter last year. Australia contributed 10 MMT, followed by Colombo with 6.9 MMT, Tanzania with 3.7 MMT and Israel with 2.2 MMT.
The domestic ports business continued to deliver steady growth, with revenue rising 12% year-on-year, supported by higher cargo volumes, an improved cargo mix and better realisations. Cargo volumes increased to 115.3 MMT during the quarter from 112.9 MMT a year earlier, while EBITDA margins remained among the highest in the industry at 74%. APSEZ currently has a domestic port handling capacity of 653 MMT and is expanding this to 1,000 MMT by 2030 as part of its long-term growth strategy.
The company’s marine business also posted strong results, with revenue increasing 67% year-on-year to ₹901 crore, driven by fleet expansion and growth in offshore services. APSEZ has continued to strengthen its international presence through new partnerships, including deepwater engineering projects in Europe and a long-term contract supporting Argentina’s liquefied natural gas export programme.
The logistics business witnessed mixed performance during the quarter. Rail container volumes were affected by disruptions linked to the Middle East conflict. However, the company’s asset-light logistics operations continued to grow, with trucking revenue increasing 26% year-on-year and international freight network revenue recording healthy sequential growth.
Commenting on the results, Ashwani Gupta, Whole-time Director and Chief Executive Officer of APSEZ, said the company’s diversified business model across ports, logistics and international operations continues to deliver balanced growth. He noted that while domestic ports remain the foundation of APSEZ’s earnings, international ports, marine services and logistics have become important contributors to revenue and profitability. He added that the company’s ongoing capacity expansion, growing international portfolio and integrated logistics network provide a strong platform to achieve its long-term Ambition 2031 goals.
During the quarter, APSEZ also strengthened its financial profile with S&P Global Ratings upgrading its long-term issuer credit rating to ‘BBB’ with a Stable outlook. CARE Ratings and ICRA reaffirmed the company’s highest domestic credit rating of ‘AAA’. APSEZ also became the first Indian transport company to publish a Taskforce on Nature-related Financial Disclosures (TNFD) report, underlining its commitment to sustainable and responsible business growth.
