India's largest private port operator Adani Ports and Special Economic Zone delivered robust financial results for the second quarter of FY27. The company reported a consolidated net profit of ₹3,682 crore, representing an 18% increase from ₹3,120 crore in the corresponding quarter of the previous financial year. This performance demonstrates the company's strong operational efficiency and market position in the port sector. Consolidated profit before tax (PBT) rose 21% YoY to ₹4,466 crore compared with ₹3,690 crore in the corresponding quarter last year, while total income stood at ₹11,610 crore against ₹10,004 crore a year earlier. The company's total expenses in the July-September 2026-27 period increased to ₹7,252.7 crore, from ₹6,103.59 crore in the year-ago quarter, reflecting higher operational activities.
The company's consolidated revenue from operations rose 23.7% to ₹11,340 crore from ₹9,167 crore in the year-ago quarter, driven by growth across domestic ports, international ports, logistics and marine businesses. EBITDA increased 28.1% to ₹7,105 crore from ₹5,548 crore in the previous year quarter, with EBITDA margin expanding by 210 basis points to 62.6% from 60.5%. The company's EBITDA margin expanded marginally to 60.02% in the reporting quarter from 60.54% in Q2 FY26, demonstrating improved operational efficiency across its diversified business portfolio. For the first half of FY27, revenue from operations increased 21.1% YoY to ₹22,161 crore from ₹18,294 crore, while EBITDA was ₹13,348 crore compared with ₹12,045 crore a year earlier.
Domestic ports revenue grew 13% year-on-year with an EBITDA margin of 72.5%. International ports revenue surged 71% while EBITDA increased more than threefold, with the segment's EBITDA margin reaching a record 47.7%. The international ports portfolio sustained strong momentum, delivering record revenue of ₹1,839 crore and EBITDA of ₹878 crore with volumes increasing to 24 million tonnes from 10 million tonnes in Q2 FY26. The performance was led by the continued ramp-up of Colombo West International Terminal (CWIT) and Tanzania operations, with CWIT handling 2 million twenty-foot equivalent units (TEUs) within the first 18 months of operations. Cargo volumes at domestic ports stood at 118 million metric tonnes during the quarter, with APSEZ's market share at 27.3% in cargo and 44.4% in containers.
Adani Ports raised its FY27 guidance based on strong first-half performance, according to the company's regulatory filing. The company raised revenue guidance by ₹1,000 crore to ₹44,000-₹46,000 crore, while EBITDA guidance was increased by ₹1,000 crore to ₹26,000-₹27,000 crore. The company also increased capital expenditure guidance by ₹3,000 crore to ₹15,000-17,000 crore from ₹12,000-14,000 crore earlier as it advances towards its Ambition 2031 goals. Capital work-in-progress stood at ₹19,266 crore as of September 30, 2026, compared with ₹12,672 crore as of March 31, 2026. Consolidated cash and cash equivalents stood at ₹5,074 crore at the end of the September quarter. The company has deployed ₹30,346 crore in capex over the past two years, including higher-than-planned investments in the first half of the current financial year. APSEZ is accelerating its investment programme to deliver its FY31 ambition of ₹91,500 crore in revenue and ₹52,000 crore in EBITDA.
Following the earnings announcement, shares of Adani Ports were trading at ₹1,759 on the BSE, closing 0.27% lower and valuing the company at ₹4.1 trillion. The stock is up 19% so far this year, reflecting strong investor confidence in the company's growth trajectory. For the first half of FY27, APSEZ reported profit attributable to equity holders of ₹7,242 crore, up from ₹6,424 crore a year earlier. The company's ports and SEZ segment remained the main contributor with segment income rising to ₹9,897 crore from ₹8,054 crore in the year-ago quarter, while segment results increased to ₹5,127 crore from ₹3,946 crore. The company's net debt-to-EBITDA ratio stood at 1.8 times, providing a solid foundation for continued expansion and growth initiatives. Ashwani Gupta, whole-time director and chief executive officer, noted that "APSEZ's ability to execute at scale with financial prudence enables us to pursue ambitious growth while leveraging balance-sheet strength and compounding cash flows," adding that earnings are anchored in the domestic ports business while international ports, logistics and marine businesses are emerging as other growth engines.
