APSEZ FY26 Results Ahmedabad: Strong Growth Shocks Market
APSEZ FY26 Results Show Strong Growth and Record Cargo Wins Big Trust
Adani Ports and Special Economic Zone Limited (APSEZ) has reported a strong financial year, showing clear growth across its key businesses. The company’s FY26 revenue reached ₹38,736 crore, a 25% rise compared to last year. EBITDA also increased by 20% to ₹22,851 crore. These numbers are not just higher; they also go beyond what the company had earlier promised in its guidance. This kind of performance shows that demand for port and logistics services in India is still strong, even when global trade faces pressure.
APSEZ has also created a new record by becoming the first integrated transport company in India to handle more than 500 million metric tonnes (MMT) of cargo in one year. This milestone is important because it shows how India’s trade activity is growing steadily. Reports from global shipping agencies and trade journals suggest that India’s cargo volumes have been rising due to strong domestic demand, infrastructure upgrades, and better port efficiency. APSEZ has clearly benefited from this trend.
The company’s domestic ports business remains its backbone. Revenue from domestic ports grew by 13% for the full year. This growth was supported by a slight increase in market share and strong container handling. Industry data shows that container traffic in India is rising due to growth in manufacturing, e-commerce, and exports. APSEZ’s ability to maintain over 45% container market share shows its strong position in the sector. Its return on capital employed (RoCE) also improved to 23%, which reflects better use of investments.
International ports also played a big role in this year’s performance. Revenue from this segment rose by 34%. This growth came mainly from new additions like the North Queensland Export Terminal in Australia and the ramp-up of operations in Colombo. Global port industry reports often highlight that diversification across countries helps companies manage risk. APSEZ’s strategy of expanding internationally seems to be working, as seen in its sharp rise in EBITDA and improved margins.
The logistics business saw one of the fastest growth rates, with revenue jumping 55%. This growth came from trucking services and international freight operations. In recent years, logistics experts have pointed out that India’s supply chain is changing fast, with more focus on door-to-door solutions. APSEZ’s move into asset-light and asset-zero services fits well with this trend. These services require less capital but can grow quickly, which helps improve returns over time.
Marine services also showed strong numbers, with revenue rising 134% and EBITDA growing 125%. This was supported by the expansion of its vessel fleet, which reached 136 vessels. Industry studies suggest that offshore support vessels are in demand due to energy projects and shipping needs across regions like the Middle East and Africa. APSEZ’s contracts with large clients provide steady income and reduce risk, which is why this segment is seen as a stable growth area.
Overall, the company’s RoCE improved to 16% from 15% last year. This shows better efficiency in using capital across all business segments. Financially, APSEZ has also kept its debt under control, with net debt to EBITDA at 1.9 times, which is well within its policy limit. Credit rating agencies have recognised this stability. Several global agencies have maintained or improved their outlook on the company, which signals confidence in its long-term performance.
The company has also proposed a dividend of ₹7.5 per share for FY26. This move reflects strong cash flow and a commitment to reward shareholders. Analysts often view consistent dividend payouts as a sign of financial strength and management confidence.
In its forward outlook, APSEZ has set clear targets for FY27. It expects revenue between ₹43,000 crore and ₹45,000 crore, with EBITDA between ₹25,000 crore and ₹26,000 crore. This indicates expected growth of around 10% to 15%. Industry trends support this optimism. India’s focus on infrastructure, ports, and logistics under national development plans is likely to drive long-term demand.
CEO Ashwani Gupta’s comments also point towards a bigger vision. The company aims to double its revenue and EBITDA by FY31 and plans to handle one billion tonnes of cargo by 2030. This goal aligns with India’s broader ambition to become a global trade hub. Experts in maritime trade believe that companies with integrated services, from ports to logistics, will lead the next phase of growth.
APSEZ’s performance in FY26 shows a mix of scale, efficiency, and expansion. Despite global challenges like geopolitical tensions and trade uncertainty, the company has managed steady growth. Its focus on integrated operations, international expansion, and efficient capital use places it in a strong position for the coming years.
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