APSEZ Q2 consolidated revenue up 24% to Rs 11,340 crore, driven by growth across all businesses

According to an Adani media release, consolidated profit after tax (PAT) grew 18 per cent YoY to Rs 3,682 crore during the quarter. Following the first-half performance, the port operator raised its full-year FY27 financial guidance band by Rs 1,000 crore each for revenue and EBITDA, projecting annual revenue of Rs 44,000 crore to Rs 46,000 crore and EBITDA of Rs 26,000 crore to Rs 27,000 crore.

The company attributed the quarterly expansion to broad-based gains across domestic ports, international operations, logistics, and marine services. Domestic port revenue advanced 13 per cent YoY to Rs 7,177 crore with an EBITDA margin of 72.5 per cent, handling 118 million metric tonnes (MMT) of cargo.

The international ports division posted a 71 per cent rise in revenue to Rs 1,839 crore, while its EBITDA rose more than three-fold to Rs 878 crore. Logistics revenue reached Rs 1,273 crore, reflecting a 21 per cent growth, and the marine business grew 57 per cent to Rs 1,007 crore.

"APSEZs ability to execute at scale with financial prudence enables us to pursue ambitious growth while leveraging balance-sheet strength and compounding cash flows," Ashwani Gupta, Whole-time Director and Chief Executive Officer of APSEZ, said in a statement.

"Against this backdrop, Q2FY27 was another stellar quarter," Gupta added. "Domestic Ports continue to anchor our earnings, while International Ports, Logistics and Marine are emerging as powerful growth engines. Reflecting strong H1 performance, we are upgrading our FY27 guidance across revenue, EBITDA and capex."

Operational developments during the quarter included securing a 30-year concession for Paradip Ports CQ-I and CQ-II dry bulk berths, adding 18 MMT of mechanized capacity, and the commencement of EXIM operations at Vizhinjam port. Internationally, the company inaugurated Phase II of the Colombo West International Terminal, expanding its capacity from 1.6 million TEUs to 3.2 million TEUs, while port operations in Tanzania registered record quarterly volumes of 265,518 TEUs.

Alongside its upgraded operational forecasts, APSEZ increased its capital expenditure guidance for FY27 by Rs 3,000 crore to a range of Rs 15,000 crore to Rs 17,000 crore, aligning investments with its longer-term Ambition 2031 roadmap.

"As we accelerate investments toward our Ambition 2031 objectives, our balance sheet remains exceptionally strong," Gupta said.

"We have deployed Rs 30,346 Cr of capex over the past two years, including higher-than-planned investments in H1, while maintaining net debt-to-EBITDA at just 1.8x, underscoring the strength of our business model and capital discipline," he stated.

For the first half of FY27, APSEZ generated an operating cash flow of Rs 13,327 crore and free cash flow of Rs 2,806 crore against a capex deployment of Rs 10,521 crore. The company closed the period with a cash balance of Rs 12,502 crore and gross debt of Rs 57,717 crore, keeping its net debt-to-EBITDA ratio at 1.8x. (ANI)