Adani Ports Q2 Net Profit Grows 18% YoY to ₹3,682 Crore; Revenue Hits ₹11,340 Crore

Key numbers

P/E Ratio	28.9xSector 36.1x
Market Cap	₹3,78,996 CrLarge Cap
Promoter Holding	66.03%Quarterly Steady
RSI	50.72Neutral Zone

Key highlights

• Consolidated revenue from operations surged 23.7% YoY to ₹11,340 crore
• Net profit reached ₹3,682 crore compared to ₹3,120 crore in the same period last year
• Operating margins expanded to 38.5% from 36.9% recorded in Q2 FY26
• Port and SEZ activities segment revenue grew to ₹9,897.33 crore during the quarter
• Exceptional charge of ₹30.8 crore incurred due to voluntary retirement plans in a foreign subsidiary
• Company concluded the US DOJ and SEC legal matter involving a non-executive director with a full dismissal

Operational Growth and Margin Expansion

Adani Ports and Special Economic Zone reported a 23.7% year-on-year increase in revenue from operations, reaching ₹11,340 crore in the second quarter of FY27. This growth was primarily driven by the Port and SEZ activities segment, which contributed ₹9,897 crore to the top line. Sequentially, revenue grew by 4.8% from ₹10,821 crore in the June quarter.

The company's operating margin saw an improvement to 38.5%, compared to 36.9% in the same period last year. Adjusted profit for the quarter grew by 48.1% YoY, despite a decline in other income from ₹837 crore to ₹269 crore.

Project Milestones and Strategic Acquisitions

• Commissioned Phase II expansion of Colombo West International Terminal on September 30, 2026, doubling capacity to 3.2 million TEUs
• Won Letter of Award for developing two dry bulk berths with 18 MMT capacity at Paradip Port on September 9, 2026
• Completed 100% equity acquisition of Jaypee Fertilizers & Industries Limited on May 21, 2026, for ₹1,500 crore
• Announced partnership with Mundi Limited for a 49% investment in the Adani Vizhinjam Port project
• Finalised Purchase Price Allocation for Abbot Point Port Holdings, recording Goodwill of ₹2,403.27 crore

Conclusion of Regulatory Matters

The company highlighted the conclusion of legal proceedings in the United States involving a non-executive director. Following an indictment by the US Department of Justice and a civil complaint by the US SEC earlier in the 2024-25 period, a final judgment was entered on August 10, 2026. The director paid a civil monetary penalty without admitting or denying the allegations.

Subsequently, the US DOJ filed a motion of dismissal, which was granted with prejudice on August 18, 2026, protecting the individual against future prosecution for the same allegations. Management clarified that the company was never named in these matters and saw no financial impact from the proceedings.

Asset Cover and Debt Management

The Secured Non-Convertible Debentures of the Company aggregating to ₹ 9,833.40 crore as on September 30, 2026 are secured by way of first ranking pari passu charge on certain identified property, plant and equipment, right-of-use assets, capital work in progress, intangible assets, inventories, other current assets and financial assets.

What to watch next

• Closure of the 49% stake sale in Adani Vizhinjam Port to Mundi Limited
• Operational commencement of new dry bulk berths at Paradip Port
• Third-quarter FY27 results announcement tentatively scheduled for January 28, 2027

“The Board of Directors at its meeting held on October 28, 2026, which commenced at 11:00 a.m. and concluded at 12:30 p.m. has approved the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026.”

Adani Ports and Special Economic Zone · financial snapshot

Share price	₹1754.5
Market capitalisation	₹3.79L Cr
Revenue (annual)	₹38,735.77 Cr
Net profit (annual)	₹12,806.21 Cr
Revenue (latest quarter)	₹10,820.80 Cr+0.78% vs previous quarter
Net profit (latest quarter)	₹3,620.40 Cr+8.75% vs previous quarter
P/E (TTM)	28.9×Sector 30.05×
Promoter holding	66.03%0.00% QoQ
FII holding	15.95%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.