What was filed
Adani Ports and Special Economic Zone (APSEZ) submitted its media release and investor presentation on unaudited standalone and consolidated results for the quarter ended June 30, 2026, following its July 29 board meeting. The filing sets out consolidated revenue, EBITDA and PAT for Q1 FY27 against the same quarter a year earlier, alongside segment detail, cargo volumes, debt metrics and a set of strategic developments during the quarter.
Where the growth came from
Per the filing, domestic ports — which the company calls the "bedrock" of its earnings — grew revenue 12% year-on-year and continue to carry the bulk of the business, at a 74% EBITDA margin. The sharper shift is in the international portfolio: overseas ports revenue rose 80% and EBITDA surged 256%, which the company attributes to the consolidation of NQXT Australia (effective Q4 FY26) and ramp-up at Colombo. The segment's EBITDA margin expanded to 41.8% from 21.1%. Marine revenue rose 67% on vessel additions and European subsea expansion. Logistics was broadly flat, with rail container volumes lower year-on-year, which the company links to the ongoing Middle East crisis.
Balance sheet and ratings
The company said S&P Global Ratings upgraded APSEZ's long-term issuer credit rating and the issue rating on its senior unsecured notes to "BBB" from "BBB-" with a Stable outlook, placing it on par with India's S&P sovereign rating. CARE Ratings and ICRA reaffirmed the company's "AAA" domestic rating. Net debt to EBITDA stood at 1.9x against a stated policy ceiling of up to 2.5x, and average debt maturity was 5.1 years as of June 30, 2026, versus 5.2 years a year earlier. The company reiterated FY27 guidance of ₹43,000–45,000 crore revenue and ₹25,000–26,000 crore EBITDA.