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Adani Ports and Special Economic Zone (ADANIPORTS) investor relations material
Adani Ports and Special Economic Zone Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary4 Nov, 2025
Executive summary
Achieved record quarterly and half-year performance with all-time highs in revenue, EBITDA, free cash flow, and ROCE across all business segments, including 30% YoY revenue growth in Q2 FY26 and 25% in H1 FY26.
Expanded global footprint with 15 domestic and 4 international ports, and a diversified logistics and marine portfolio; Mundra port ranked 25th globally.
Board approved the amalgamation of Adani Harbour Services Limited (AHSL) with the parent for operational synergies and efficiency.
No material impact from regulatory or legal matters, including closure of SEBI and Supreme Court proceedings and no company involvement in US DOJ/SEC actions.
Sustained market share gains, especially in containers and coastal coal, despite macroeconomic and geopolitical headwinds.
Financial highlights
Q2 FY26 revenue was ₹9,167 crore, up 30% YoY; EBITDA at ₹5,550 crore, up 27% YoY; net profit at ₹3,310.60 crore, up from ₹2,412.54 crore in Q2 FY25.
H1 FY26 revenue was ₹18,294 crore, up 25% YoY; EBITDA at ₹11,046 crore, up 20% YoY; net profit at ₹6,431 crore, up 17% YoY.
Operating cash flow in H1 FY26 was ₹9,503 crore (86% of EBITDA); capex at ₹6,462 crore.
Net debt/EBITDA at 1.8x; cash balance ₹13,063 crore; gross debt ₹51,082 crore.
Domestic ports revenue grew 15% to ₹6,351 crore, with an 8% cargo increase and record 28% market share.
Outlook and guidance
FY26 revenue guidance: ₹36,000–38,000 crore; EBITDA: ₹21,000–22,000 crore; capex: ₹11,000–12,000 crore.
Confident in achieving 1 billion metric tons of cargo by 2030, with international volumes expected to contribute 150–160 million metric tons.
Continued focus on profitable, capital-efficient growth and maintaining high operational margins.
The company expects continued operational synergies and efficiency gains from the AHSL amalgamation.
No adverse impact anticipated from regulatory or legal matters.
Achieve 45% int'l port EBITDA margin
What commodity mix drives domestic volume to 850M tonnes by FY30?
Balance between CapEx, M&A, and capital return
International ports' long-term margin outlook
Domestic port cargo mix evolution and drivers
Capital allocation strategy post-CapEx
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Next Adani Ports and Special Economic Zone earnings date
Q3 25/2629 Jan, 2026
Next Adani Ports and Special Economic Zone earnings date
Q3 25/2629 Jan, 2026
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Frequently asked questions
Adani Ports and Special Economic Zone Limited, develops, operates, and maintains port infrastructure facilities in India. The company offers cargo handling services, including break bulk and bulk carriers; container vessels; and oil tankers to coal and iron ore producers, importers and exporters. It also provides multi-modal logistics services; warehousing and logistics services on a linear layout to warehouses; and technical repair services for ship equipment, such as cranes, loaders, tractors, trailers, passenger vehicles, excavators and other earth moving equipment. Adani Ports and Special Economic Zone Limited was incorporated in 1998 and is headquartered in Ahmedabad, India.
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