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Informist, Tuesday, Nov. 4, 2025

 

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--Adani Ports Jul-Sept consol net profit INR 31.09 bln
--Analysts saw Adani Ports Jul-Sept consol net profit at INR 33.20 bln
--Adani Ports Jul-Sept consol revenue INR 91.67 bln
--Analysts saw Adani Ports Jul-Sept consol revenue at INR 91.51 bln
--Adani Ports Jul-Sept consol PAT INR 31.09 bln vs INR 24.45 bln year ago
--Adani Ports Q2 consol revenue INR 91.67 bln vs INR 70.67 bln year ago
--Adani Ports Apr-Sept consol PAT INR 64.24 bln vs INR 55.58 bln year ago
--Adani Ports Apr-Sept consol revenue INR 182.94 bln vs INR 140.23 bln
--Adani Ports Jul-Sept consol ports sales INR 80.5 bln vs INR 64.2 bln yr ago
--Adani Ports expects FY26 revenue at INR 360 bln-INR 380 bln
--Adani Ports expects FY26 EBITDA at INR 210 bln-INR 220 bln
--Adani Ports expects FY26 capex at INR 110 bln-INR 120 bln
--Adani Ports sees FY26 port cargo volume between 505 mln tn and 515 mln tn
--Adani Ports Jul-Sept consol EBITDA INR 55.50 bln vs INR 43.69 bln year ago
--Adani Ports Jul-Sept cargo volumes at 124 mln tn vs 111 mln tn yr ago
--Adani Ports Q2 Mundra port volume 49.4 mln tn vs 50.0 mln tn year ago
--Adani Ports Q2 non-Mundra domestic port volumes 64.5 mln tn, up 16% on year
--Adani Ports: Logistics, marine ops continued exponential growth trajectory
--Adani Ports: Q2 consol logistics EBITDA margin 20.9% vs 26.5% year ago
--Adani Ports: H1 capex INR 64.62 bln
 

 

By Sunil Raghu

 

MUMBAI– Adani Ports and Special Economic Zone Ltd.'s consolidated net profit for the September quarter fell short of the Street's estimate, as its operating costs jumped over 41% on year. The consolidated revenue came in line with expectations. This is the 21st straight quarter that Adani Ports' consolidated revenue has registered year-on-year growth. The  net profit for the September quarter has clocked on-year growth for the 11th successive quarter, as per data collated by Informist.

 

The company's bottom line for the latest quarter jumped over 27% on year to INR 31.09 billion. It fell over 6% from INR 33.15 billion in the trailing quarter. Analysts had expected the company to report a consolidated net profit of INR 33.2 billion for the quarter.

 

The company's top line for the quarter rose to INR 91.67 billion from INR 70.67 billion a year ago, beating analysts' estimate of INR 91.51 billion by a whisker. The top line was up just 0.5% on quarter. The company's revenue from ports and special economic zone activity in the September quarter was INR 80.5 billion, up over 25% from INR 64.29 billion a year ago.

 

Adani Ports owns 15 ports across India with a cumulative capacity of 633 million tonnes as of Sept. 30. It also operates ports across Israel, Tanzania and Sri Lanka. For the September quarter, the company handled 123.8 million tonnes of cargo, up 11.6% on year and 3% from the trailing quarter. In the first six months of the current financial year, its ports and terminals across India handled a total of 244.2 million tonnes of cargo, up 11.1% on year. 

 

The company's total expenses for the September quarter jumped nearly 38% to INR 61.04 billion from INR 44.34 billion a year ago. This rise was led by a 42% on-year rise in operating expenses, which came in at INR 24.96 billion. The interest and bank charges the company paid during the quarter rose 22% on year to INR 8.38 billion. The company also recorded a forex loss of INR 2.12 billion, up nearly 61% on year. Depreciation and amortisation costs rose over 17% on year to INR 12.64 billion and other expenses were up nearly 25% at INR 5.35 billion.

 

Sharing operational highlights, the company said its all-India cargo share increased to 28.1% in the September quarter from 27.4% in the year-ago quarter. Its container share was up 45.9%, against 44.4% in the September quarter last year.

 

Volumes of the Mundra port, which contributes a little less than half of the company's total volumes, fell 1.2% on year to 49.4 million tonnes during the quarter. In FY25, Mundra became the first Indian port to cross 200 million tonnes in annual cargo volume. On the other hand, volumes at other ports of the company, excluding Mundra port, rose 16% on year to 64.5 million tonnes.

 

The company's total expenses for the September quarter jumped nearly 38% on year to INR 61.04 billion, from INR 44.34 billion a year ago. This rise was led by a 42% on year rise in operating expenses, which came in at INR 24.96 billion, from INR 17.63 billion a year ago. The interest and bank charges company paid in the quarter also rose 22% on year to INR 8.38 billion. The company also saw a forex loss of INR 2.12 billion, up nearly 61% on year. The company's depreciation and amortisation costs too rose over 17% on year to INR 12.64 billion and other expenses were up nearly 25% to INR 5.35 billion.

 

Sharing operational highlights, the company said its all-India cargo share increased to 28.1% in the September quarter from 27.4% in the year-ago quarter. Its container share was up 45.9%, from 44.4% in the September quarter of 2024-25 (Apr-Mar).

 

Volumes of the Mundra port, which contributes a little less than half of the company's total volumes, fell 1.2% on year to 49.4 million tonnes during the quarter. In FY25, Mundra became the first Indian port to cross 200 million tonnes in annual cargo volume. On the other hand, volumes at other ports of the company, excluding Mundra Port, rose 16% on year to 64.5 million tonnes.

 

The company said its business verticals of logistics and marine operations continued their exponential growth trajectory. Revenue from the company's domestic ports vertical grew over 16% on year to INR 63.51 billion in the September quarter, while that from international port operations jumped 35% to INR 10.77 billion. Revenue from the marine vertical grew more than three times on year to INR 6.41 billion, whereas revenue from the logistics vertical nearly doubled to INR 10.55 billion from INR 5.88 billion in the year-ago quarter. The company expects its revenue from the marine vertical to rise to more than INR 33 billion in FY27.

 

The company's consolidated earnings before interest, tax, depreciation, and amortisation for the September quarter rose nearly 27% on year to INR 55.5 billion. In the same quarter last year, its EBITDA stood at INR 43.69 billion. Analysts had estimated the EBITDA for Adani Ports at INR 54.3 billion and the EBITDA margin at 59.3%. The consolidated EBITDA margin for logistics in the September quarter stood at 20.9%, compared with 26.5% in the year-ago quarter.

 

For FY26, the company maintained its stance that it expects revenue to rise to INR 360 billion-INR 380 billion and the EBITDA to rise to INR 210 billion-INR 220 billion. In FY25, its consolidated revenue rose 14% on year to INR 304.75 billion and its EBITDA grew 20% on year to INR 190.25 billion. The consolidated net profit rose 37% on year to INR 110.92 billion for the same period. The company said it had spent INR 64.62 billion in capital expenditure in the first half of 2025-26 (Apr-Mar) and plans capex of INR 110 billion-INR 120 billion for the entire financial year.

 

The company said its gross debt stood at INR 510.82 billion as on Sept. 30, up from INR 458.10 billion on Mar. 31. As on Sept. 30, its cash balance stood at INR 130.63 billion.

 

For Apr-Sept, Adani Ports recorded a consolidated net profit of INR 64.24 bln, compared to INR 55.58 billion in first half of 2024-25 (Apr-Mar). Its revenue for the first half came in at INR 182.94 billion, compared with INR 140.23 billion in Apr-Sept last year.

 

The company maintained its earlier stance of current-year port cargo volume between 505 million tonnes and 515 million tonnes.

 

At 1453 IST, shares of the company were down 0.4% at INR 1,439.70 on the National Stock Exchange.  End

 

Edited by Avishek Dutta

 

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