Adani Ports raises FY26 guidance following robust Q3 growth
MUMBAI: Adani Ports and Special Economic Zone Ltd (APSEZ), the cash cow of Ahmedabad-based Adani Group, reported a sharp rise in revenue and profit for the October-December quarter (Q3FY26), prompting management to raise its forecast for FY26.
The company is currently awaiting revenue ₹38,000 crore in FY26, at the highest point of its previous fiscal ₹36,000-38,000 crore range. Guidance on earnings before interest, taxes, depreciation and amortization (EBITDA), ₹22,800 crore as compared to previous ₹21,000-22,000 crore band.
The higher EBITDA outlook reflects stronger than expected growth in existing businesses and the consolidation of North Queensland Export Terminal (NQXT) in the January-March quarter. APSEZ completed the acquisition of the Australian terminal from the Adani family on approximately December 23, 2025. ₹22,000 crore.
APSEZ shares increased by 9.12% ₹On Tuesday, BSE outperformed the Sensex index, which gained 2.54% at 1,530.9 points. The results were announced during trading hours.
Solid Q3 earnings
APSEZ’s profits increased by over 20% in the three months ending December 31, 2025. ₹3,043 crore as contributions from new ports compensated for the slowdown in the flagship Mundra port.
Quarterly revenue and EBITDA also increased by approximately 20%. ₹9,705 crore and ₹5,786 crore respectively.
“APSEZ, India’s largest and the world’s fastest growing integrated transportation service, has once again delivered a strong and resilient performance,” Ashwani Gupta, chief executive officer and permanent director, said in a statement. “Sustained momentum across our four business lines, combined with the consolidation of NQXT, has enabled us to raise the upper end of our FY26 EBITDA forecast with a strong increase. ₹800 crore.”
APSEZ’s first and highest revenue generating port, Mundra’s revenue dropped by 15% ₹1,860 crore, while EBITDA decreased by approximately 20% ₹1,321 crore. Higher earnings in Krishnapatnam, Gangavaram and Vizhinjam helped offset the decline.
APSEZ operates 15 ports and terminals in India and 4 abroad.
Companies on the verge of sharp revenue growth
Adani Enterprises Ltd, the group’s new business incubator, also reported a rise in Q3 profit on Tuesday, driven by gains from the sale of its stake in consumer business AWL Agri Business Ltd, formerly Adani Wilmar Ltd.
Flagship company reports consolidated profit ₹5,627 crore after a phenomenal earnings ₹5,632 crore represents a loss in the absence of one-time income.
Revenues increased by 8 percent annually ₹25,475 crore, while EBITDA increased by 15% ₹4,297 crore. Performance was hurt by a slowdown in the legacy coal trading business, where revenue fell 25%. ₹7,169 crore due to low volumes and prices.
Results have improved in other key sectors under ANIL, including renewable energy ecosystem generation, airports and mining.
The company is on the verge of a sharp increase in revenue and Ebitda with the launch of four key assets, group chief financial officer Jugeshinder Singh said during an investor call.
These include the recently opened Navi Mumbai airport, a copper smelter, a major highway and a larger solar cell and module manufacturing facility.
The Kutch Copper smelter is expected to become operational in the first quarter of FY27 and will have an annual capacity of 0.5 million tonnes, comparable to India’s largest producer Hindalco Copper. The project is expected to add approx. ₹Consolidated EBITDA stands at 2,000 crore, Singh said.
Ganga Expressway in Uttar Pradesh is expected to make another contribution ₹1,500 crore to Ebitda once operational. He said the company’s 6-gigawatt solar cell facility, which is scheduled to be operational in late 2026, already has enough orders to support high usage.
The company will also generate fixed returns from Navi Mumbai airport.
Shares of Adani Enterprises increased by 10.38% ₹2,201.7 on BSE.
