APSEZ Delivers Solid Growth in Q1 FY27

Ahmedabad:

Port Wings News Network:

Adani Ports and Special Economic Zone Ltd (APSEZ) on 29 July reported a 10 percent year-on-year rise in consolidated net profit for the first quarter of FY27, supported by strong growth in revenue and operating profit across its domestic and international businesses.

According to a media statement from APSEZ, consolidated net profit for the April-June quarter rose to Rs 3,650 crore from Rs 3,311 crore in the corresponding period last year.

APSEZ’ international ports delivered robust growth, with revenue increasing 80% YoY to ₹1,747 Cr and EBITDA surging 256% YoY to ₹730 Cr, led by strong performance in Australia and Colombo and reflecting the increasing maturity of its overseas portfolio.

Besides, marine revenue increased 67% YoY to ₹901 Cr, on the back of ongoing offshore vessel additions and European subsea expansion.

FIRST INDIAN TRANSPORT COMPANY

Domestic ports revenue grew 12% YoY, driven by cargo volume growth, superior product mix, and higher realization. EBITDA margin stood at a best-in-class 74%.

S&P Global Ratings upgraded APSEZ’s long-term issuer credit rating and the issue rating on its senior unsecured notes to “BBB” from “BBB-” with a “Stable” outlook. CARE Ratings and ICRA Limited reaffirmed APSEZ’s highest possible domestic rating of “AAA”.

And more importantly, APSEZ became the first Indian Transport company to release a TNFD (Taskforce on Nature-related Financial Disclosures) report, reinforcing its commitment to nature-positive growth.

Commenting on the performance, Ashwani Gupta, Whole-time Director & CEO, APSEZ, said, “Our Q1 FY27 performance underscores the strength of our diversified business model, combining global reach with a multi-modal asset base across geographies, commodities, and customers. Our domestic ports business continued to deliver strong growth and remains the bedrock of APSEZ’s earnings, while International Ports, Marine, and Logistics have transitioned decisively from scale-up to scale-value, becoming increasingly important drivers of revenue growth and profitability.”

Ashwani Gupta added: “This balanced growth across businesses reinforces our confidence in achieving Ambition 2031. Supported by our domestic capacity expansion program targeting 1,000 MMT by 2030, a growing international portfolio, and a rapidly scaling logistics ecosystem, APSEZ is steadily building a more diversified, resilient, and globally relevant transport platform capable of sustaining long-term value creation.” NQXT Australia results were consolidated into APSEZ with effect from Q4 FY26.

Segment-wise performance

Q1 FY27 demonstrates the strength of a business that has expanded well beyond traditional port operations. APSEZ’s growing presence across Ports, Logistics, and international markets is creating multiple engines of growth while enhancing the resilience of the company’s earnings profile.

Domestic ports revenue grew 12% YoY driven by cargo volume growth (115.3 MMT in Q1 FY27 vs. 112.9 MMT in Q1FY26), superior product mix and higher realization. EBITDA margins stood at a best-in-class 74%. As of June 30, 2026, domestic ports capacity stood at 653 MMT. APSEZ is undertaking one of the largest port capacity expansion programs in its history, with domestic capacity slated to increase to 1,000 MMT by December 2030, laying the foundation for the next phase of growth. All-India cargo market share stood at 27.6% (27.8% in Q1FY26). All-India container cargo market share stood at 44.8% (45.2% in Q1FY26).

International ports delivered record quarterly revenue and EBITDA in Q1 FY27, underscoring the growing scale and profitability of APSEZ’s global ports platform. Volumes increased to 22.8 MMT from 7.7 MMT in Q1 FY26, driven by the addition of NQXT Australia and ongoing ramp-up at Colombo. Australia contributed 10 MMT, followed by Colombo at 6.9 MMT, Tanzania at 3.7 MMT and Israel at 2.2 MMT. The inclusion of higher-margin Australia operations and improving scale at Colombo drove a sharp expansion in EBITDA margin to 41.8% in Q1 FY27 from 21.1% in Q1 FY26. Colombo revenue was up 5x YoY while Tanzania revenue was up 36% YoY.

Logistics business TEU rail volumes were impacted due to the ongoing Middle East crisis. APSEZ continued to build out the asset-light operations with Trucking revenue up 26% YoY. IFN (International Freight Network) revenue was also up 28% sequentially. Rail volume (TEUs) stood at 145,310 for Q1 FY27 (179,479 for Q1 FY26).

Marine operations delivered 67% YoY revenue growth in Q1 FY27, driven by ongoing vessel additions (135 vessels in Q1 FY27 vs. 118 vessels in Q1 FY26). APSEZ continues to globalize its Marine business, with recent wins including a partnership with Oceaneering International to enhance deepwater engineering and offshore capabilities in Europe, and a landmark 10-year contract supporting Argentina’s first LNG exports to India, establishing a presence in South America.