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03 Nov 2025
Adani Ports Q2 FY26 financial results analysis with strong performance across ports, logistics and marine segments
₹ 1,444
-0.02% decreased today
04 Nov - close price
Financial Performance Overview
Ahmedabad, India, November 4, 2025: Adani Ports and Special Economic Zone Limited (APSEZ), India's leading integrated transport utility, announced its results for the quarter and half year ended 30 September 2025, delivering strong across-the-board profitable growth.
Key Financial Highlights (Q2 FY26 - Consolidated)
Revenue
₹9,167 Cr
+30% YoY
EBITDA
₹5,550 Cr
+27% YoY
Net Profit (PAT)
₹3,120 Cr
+29% YoY
H1 FY26 Revenue
₹18,294 Cr
+25% YoY
H1 FY26 EBITDA
₹11,046 Cr
+20% YoY
H1 FY26 PAT
₹6,431 Cr
+17% YoY
Quarterly Performance Comparison (Consolidated)
| Financial Metric | Q2 FY26 | Q2 FY25 | YoY Change | Performance |
|---|---|---|---|---|
| Revenue (₹ Cr) | 9,167 | 7,067 | +30% | Excellent |
| EBITDA (₹ Cr) | 5,550 | 4,369 | +27% | Outstanding |
| PAT (₹ Cr) | 3,120 | 2,413 | +29% | Exceptional |
| EBITDA Margin | 60.5% | 61.8% | -1.3 pp | Stable |
| PAT Margin | 34.0% | 34.1% | -0.1 pp | Stable |
Management Commentary
CEO Statement - Mr. Ashwani Gupta
Business Segment Performance
Segment-wise Revenue Performance (₹ Cr)
Domestic Ports
₹6,351 Cr
+16% YoY
International Ports
₹1,077 Cr
+35% YoY
Logistics
₹1,055 Cr
+79% YoY
Marine
₹641 Cr
+237% YoY
H1 Logistics
₹2,224 Cr
+92% YoY
H1 Marine
₹1,182 Cr
+213% YoY
Operational Performance Highlights
Key Operational Metrics
Strategic Initiatives & Growth Drivers
Key Business Developments
Record Operational Achievements
Milestone Performance
Stock Performance & Key Metrics
Adani Ports Stock Analysis
Market Cap
₹3,12,000 Cr
Current Price
₹1,444
52W High / Low
₹1,494 / ₹994
Stock P/E
26.0
Industry P/E
27.0
Book Value
₹311
Dividend Yield
0.48%
ROCE
13.8%
ROE
18.8%
Face Value
₹2.00
EPS
₹55.4
Debt to Equity
0.85
Total Debt
₹56,851 Cr
ESG Excellence & Awards
Sustainability Leadership
About Adani Ports and Special Economic Zone Limited
Company Overview
Adani Ports and Special Economic Zone Limited (APSEZ), part of the globally diversified Adani Group, is India's leading Integrated Transport Utility operating across cargo origination through port handling, rail transport, multi-modal logistics parks, warehousing, and final delivery via road transport.
🎯 Business Highlights
Overall Performance Assessment: Adani Ports delivered an exceptional Q2 FY26 performance with 30% revenue growth and 29% PAT growth, demonstrating strong execution across its integrated transport utility model. The company achieved significant market share gains, operational excellence across ports, and exponential growth in logistics and marine segments. Strategic initiatives including international expansion, marine fleet development, and sustainability leadership position APSEZ well for continued growth. The stock trades at a P/E of 26.0, slightly below the industry average of 27.0, reflecting attractive valuation given the company's market leadership and growth trajectory in the ports and logistics sector.
"Our strong, across-the-board profitable growth momentum truly underscores the success of our unmatched Integrated Transport Utility value proposition. Logistics and Marine businesses have continued their exponential growth trajectory, further reinforcing our port-gate to customer-gate offering."
"Our performance is a testament to the success of various operational efficiency and capital optimization initiatives, leading to the strongest ever H1 domestic ports EBITDA margin and significant improvement in Logistics RoCE."
"Our vision of becoming an Integrated Transport Utility is taking shape at an accelerated pace. The strategic expansion of our multi-modal capabilities—from our growing network of 12 logistics parks and 3.1 million sq. ft. of warehouses to our expanding trucking fleet and international freight services—demonstrates how we are creating a seamless supply chain ecosystem."
"The ongoing expansion of our port capacities and our 127-vessel marine fleet across the MEASA region, with foray into West Africa waters, position us as a genuine integrated player in the global supply chain."