Adani Ports and Special Economic Zone Limited Q4 FY2026 Results
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Overview
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Detailed Analysis
Sentiment
Positive
Executive Summary
Adani Ports Q4 FY2026: Revenue ₹10,737.58 Cr (vs ₹8,488.44 Cr YoY), PAT ₹3,308.30 Cr (vs ₹3,023.10 Cr YoY)
In Q4 FY2026 Adani Ports reported consolidated Revenue from Operations of ₹10,737.58 Cr and Total Income of ₹11,489.45 Cr, up from ₹8,488.44 Cr and ₹8,769.63 Cr in Q4 FY2025 respectively. Consolidated Profit for the period was ₹3,308.30 Cr in Q4 FY2026 versus ₹3,023.10 Cr in Q4 FY2025, driven by higher EBITDA and share of joint venture profits. Key cost pressures were higher Interest and Bank Charges at ₹1,376.51 Cr and Depreciation & Amortisation at ₹1,614.64 Cr for the quarter. The Board has recommended a dividend of ₹7.50 per share for FY2026 and the company completed a major acquisition...Revenue from Operations (Consolidated Q4 FY2026)
₹10,737.58 Crvs ₹8,488.44 Cr in Q4 FY2025
Total Income (Consolidated Q4 FY2026)
₹11,489.45 Crvs ₹8,769.63 Cr in Q4 FY2025
Profit for the period (Consolidated Q4 FY2026)
₹3,308.30 Crvs ₹3,023.10 Cr in Q4 FY2025
Profit before tax (Consolidated Q4 FY2026)
₹3,699.96 Crvs ₹3,531.93 Cr in Q4 FY2025
Earnings per Share (Basic & Diluted Q4 FY2026)
₹14.45vs ₹13.95 in Q4 FY2025
Finance Costs - Interest and Bank Charges (Consolidated Q4 FY2026)
₹1,376.51 Crvs ₹675.36 Cr in Q4 FY2025
Depreciation & Amortisation (Consolidated Q4 FY2026)
₹1,614.64 Crvs ₹1,184.73 Cr in Q4 FY2025
Net Worth (Consolidated as at Mar 31, 2026)
₹98,981.48 Crvs ₹64,973.34 Cr as at Mar 31, 2025
Key Highlights
10
Port and SEZ activities generated ₹9,493.66 Cr in Q4 FY2026 revenue, supporting the bulk of consolidated operations
Share of profit from Joint Ventures increased to ₹209.79 Cr in Q4 FY2026 from ₹168.84 Cr in Q4 FY2025, boosting consolidated profitability
Exceptional items were a net charge of (₹61.62) Cr in Q4 FY2026 (includes labour code impact and voluntary retirement settlements), compared with (₹24.41) Cr in Q4 FY2025
Total expenses for the quarter rose to ₹7,937.66 Cr in Q4 FY2026 from ₹5,382.13 Cr in Q4 FY2025 driven by operating, interest and depreciation increases
Other segment (mainly logistics & transportation) contributed ₹1,289.96 Cr in revenue in Q4 FY2026, indicating diversification of revenue streams
Foreign exchange reported a loss/(gain) (net) of ₹202.15 Cr in Q4 FY2026 versus ₹93.14 Cr in Q4 FY2025, affecting finance costs volatility
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Key Highlights
10
Port and SEZ activities generated ₹9,493.66 Cr in Q4 FY2026 revenue, supporting the bulk of consolidated operations
Share of profit from Joint Ventures increased to ₹209.79 Cr in Q4 FY2026 from ₹168.84 Cr in Q4 FY2025, boosting consolidated profitability
Exceptional items were a net charge of (₹61.62) Cr in Q4 FY2026 (includes labour code impact and voluntary retirement settlements), compared with (₹24.41) Cr in Q4 FY2025
Total expenses for the quarter rose to ₹7,937.66 Cr in Q4 FY2026 from ₹5,382.13 Cr in Q4 FY2025 driven by operating, interest and depreciation increases
Acquisition of Abbot Point Port Holdings Pte Ltd (enterprise value AUD 3,975 million) completed during the year, with related equity issuance of 14,38,20,153 shares completed on December 23, 2025
Other segment (mainly logistics & transportation) contributed ₹1,289.96 Cr in revenue in Q4 FY2026, indicating diversification of revenue streams
Foreign exchange reported a loss/(gain) (net) of ₹202.15 Cr in Q4 FY2026 versus ₹93.14 Cr in Q4 FY2025, affecting finance costs volatility
Company recorded Other Comprehensive Income of ₹1,417.81 Cr in Q4 FY2026 largely from translation gains on foreign operations (₹2,027.00 Cr), lifting total comprehensive income
Board recommended a final dividend of ₹7.50 per equity share for FY2026 (Record Date June 12, 2026), reflecting strong cash generation and shareholder returns policy
Secured NCDs outstanding aggregated to ₹10,185.40 Cr as on March 31, 2026 with asset cover exceeding 100% as per debenture documents
Guidance & Outlook
5
Board approved expansion via the Abbot Point acquisition completed in FY2026, signalling capacity-led growth intent for future volumes
Management highlighted ongoing monitoring of Labour Codes implementation impact and will recognise consequential changes as Central and State rules are finalised, indicating potential further one-off adjustments
Company announced a Tender Offer during FY2026 and completed cancellation of certain US$ notes, indicating active liability management to optimize debt profile
Cash and cash equivalents at consolidated level were ₹5,161.55 Cr as at Mar 31, 2026, supporting near-term liquidity for capex and dividend plans
Secured NCD asset cover and compliance with covenants confirmed by auditors as at March 31, 2026, supporting continued access to debt markets for funding
Risks & Concerns
6
Sharp increase in Interest and Bank Charges to ₹1,376.51 Cr in Q4 FY2026 (vs ₹675.36 Cr in Q4 FY2025) raises financing cost risk and interest-service sensitivity
Exceptional charge from Labour Codes implementation recognised in FY2026 (group
Consolidated Total Expenses increased to ₹7,937.66 Cr in Q4 FY2026 from ₹5,382.13 Cr in Q4 FY2025, implying margin pressure if revenue growth slows
Depreciation & Amortisation rose to ₹1,614.64 Cr in Q4 FY2026 (vs ₹1,184.73 Cr in Q4 FY2025), pressuring reported PAT margins despite EBITDA growth
Foreign exchange volatility produced a net FX loss impact of ₹202.15 Cr in Q4 FY2026, creating earnings volatility for the group with significant international operations
Large acquisitions and equity issuance (Abbot Point) increase integration and execution risk and could impact near-term returns if synergies are delayed
AI-generated analysis. May contain inaccuracies — verify against original sources.