In a dominant performance reported on February 3, 2026, Adani Ports and Special Economic Zone (APSEZ) showcased its resilience as an integrated transport utility. The company posted a 21% jump in net profit, reaching ₹3,043 crore for the third quarter of FY26.
Driven by record cargo volumes and the strategic consolidation of international assets, the company has officially raised its full-year guidance, signaling a bullish outlook for the remainder of the fiscal year.
1. Financial Performance: Breaking Record Highs
APSEZ delivered strong double-digit growth across all major financial parameters, supported by an “asset-light” services strategy and diversified revenue streams.
| Metric | Q3 FY26 (Actual) | Q3 FY25 (Actual) | YoY Change |
| Revenue from Operations | ₹9,705 Crore | ₹7,964 Crore | ↑ 22% |
| EBITDA (Operating Profit) | ₹5,786 Crore | ₹4,802 Crore | ↑ 20% |
| Net Profit (PAT) | ₹3,043 Crore | ₹2,518 Crore | ↑ 21% |
| EBITDA Margin | 59.6% | 60.3% | ↓ 70 bps |
- International Milestone: Revenue from international ports crossed the ₹1,000 crore mark in a single quarter for the first time, reaching ₹1,067 crore.
- Logistics Boom: Logistics revenue surged 62% YoY to ₹1,121 crore, propelled by a ramp-up in the International Freight Network.
2. Operational Highlights: Cargo & Market Share
The company’s domestic and global expansion continues to capture a larger slice of the maritime trade market.
- Cargo Volume: Handled 123 Million Metric Tonnes (MMT) in Q3, representing a 9% YoY increase.
- Container Dominance: APSEZ maintained an all-India container market share of 45.8%.
- Mundra Achievement: Mundra Port became the first in India to berth a fully laden Very Large Crude Carrier (VLCC) directly at a jetty, significantly lowering logistics costs for petroleum partners.
- NQXT Consolidation: The quarter saw the first full integration of the North Queensland Export Terminal (NQXT) in Australia, which is expected to contribute significantly to Q4 volumes.
3. Upgraded FY26 Guidance
On the back of the strong Q3 performance and the NQXT acquisition, APSEZ management has raised its financial targets for the full fiscal year:
- Revenue Guidance: Increased to ₹38,000 crore (from the previous upper band of ₹36,000–38,000 crore).
- EBITDA Guidance: Raised to ₹22,800 crore, a robust ₹800 crore increase from previous estimates.
- Capex Plan: The company remains on track with a capital expenditure plan of ₹11,000–12,000 crore for the year.
4. Leadership & Governance Transition
Alongside the results, APSEZ announced a significant change in its top management:
- New CFO: Sreedhar Krishna Menon, currently the CFO of AdaniConnex, will take over as the CFO of APSEZ effective March 1, 2026.
- Transition: He succeeds D. Muthukumaran, who is moving to a new strategic role within the broader Adani Group portfolio.
- Credit Strength: CEO Ashwani Gupta highlighted recent credit rating upgrades, including an ‘A-/Stable’ rating from the Japan Credit Rating Agency, which sits a notch above India’s sovereign rating.
Conclusion: Steering Toward 1 Billion Tonnes
Adani Ports’ Q3 results reinforce its trajectory toward becoming the world’s largest port operator. By doubling its international revenue and maintaining a disciplined balance sheet even after major acquisitions, the company is well-positioned to achieve its “Vision 2030” goal of handling 1 billion tonnes of cargo. For investors, the guidance hike serves as a clear signal that the company expects its momentum to accelerate throughout the final quarter of 2026.
