Adani Ports and Special Economic Zone Ltd

Meeting Details

• 7–8 September 2026 in London; Adani Annual, physical, 1-on-1 and group meetings.
• 9 September 2026 in Abu Dhabi; Adani Annual Conference 2026, physical, 1-on-1 and group meetings.
• September 2026: Conference 2026 investor meetings.
• Presentation for the meetings uploaded on the company website.
• Key participant: Company Secretary.

Meeting Details

• Dates: 24–28 August 2026; Non-Deal in-person investor interactions.
• Roadshow planned in USA during August 2026.
• Presentation for meeting uploaded on the company's website.

Incorporation and structure

• OSOL incorporated on Aug 10, 2026, India, as wholly owned subsidiary of Ocean Sparkle Limited.
• OSOL is a step-down subsidiary of APSEZL via Ocean Sparkle Limited.

Capital and ownership

• Authorized and paid-up capital Rs 5,00,000; 50,000 shares of Rs 10 each.
• Ocean Sparkle Limited holds 100% of OSOL.

Business purpose and strategy

• Entity to conduct ships management and operation locally.
• Supports APSEZL's marine strategy to diversify and expand global fleet.

Subsidiary formation

• OSOL incorporated Aug 10, 2026 as wholly owned subsidiary of Ocean Sparkle Limited.
• Ocean Sparkle Limited is a step-down subsidiary of APSEZ, owning OSOL 100%.
• Certificate of incorporation received Aug 11, 2026 at 8:07 PM IST.
• Authorised and paid-up capital Rs 1,00,000 comprising 10,000 equity shares of Rs 10.
• Purpose: operate locally under marine strategy to diversify fleet and expand geographic reach.
• No cash consideration disclosed; OSOL capital details set; 100% ownership by Ocean Sparkle Limited.

ESG rating update

• ESG rating assigned for FY2026 is 70, placing APSEZL in the 'Aspiring' category.
• Rating shows a 4-point improvement over FY2025.
• Describes commitment, steady progress, and disclosures underpinning governance and ESG practices.

Meeting Details

• Date and time: July 29, 2026; call concluded around 7:21 p.m.
• Type and mode: Group investor call; virtual format.
• Event/organiser: Adani Ports and Special Economic Zone Limited analyst/investor call for Q1 results.
• Purpose: Discuss unaudited standalone and consolidated results for quarter ended June 30, 2026.
• Recording: Audio recording of the call is available.

Financial highlights

• Revenue ₹10,821 Cr, up 19% YoY.
• EBITDA ₹6,541 Cr, up 19% YoY.
• PAT ₹3,650 Cr, up 10% YoY.
• Net debt to EBITDA 1.9x; pro forma 1.8x.
• Gross debt ₹56,776 Cr; cash ₹12,428 Cr.
• Domestic ports capacity 653 MMT; target 1,000 MMT by 2030.
• FY27 guidance: Revenue ₹43,000-45,000 Cr; EBITDA ₹25,000-26,000 Cr; Net debt/EBITDA up to 2.5x.

Ratings and ESG updates

• S&P Global upgraded long-term issuer rating and senior notes to BBB with Stable outlook.
• CARE Ratings and ICRA reaffirmed AAA domestic ratings.
• APSEZ published TNFD-aligned disclosure, first Indian transport company.

Strategic developments

• TiL to invest USD 1.397bn for 49% stake in AVPPL (Vizhinjam port).
• Astro Offshore contracted with Oceaneering International for Europe subsea capabilities.
• 10-year marine services contract for Argentina's LNG export to India.
• Kaleris to deploy AI-enabled solutions across 15 terminals in 9 ports; up to $100m.
• Agreement to acquire KFCL for ₹1,500 Cr to gain 243 acres near Kanpur.
• Dhamra BB-4 Phase-1 mechanisation completed; commissioned Jun 2026.

Operational highlights

• Mundra sets national record for single-vessel car export of 6,548 units.
• Vizhinjam handles 7 vessels of LOA 399+m in May 2026 (record).
• Vizhinjam 1,000th vessel call; MSC Luciana milestone.
• Vizhinjam throughput highest monthly at 130,863 TEUs in May 2026.
• Gangavaram Q1 FY27 highest quarterly volume at 9.64 MMT.
• Dhamra dry bulk records: 132,000 MT in 24 hours; 165,000 MT in 38 hours.
• Dahej first capesize vessel discharge of slag.
• Adani Logistics launched double-stack container train JNPT–ICD Tumb.
• Agri silo network expanded to 37 locations; storage capacity ~1.88 MMT.

Financial results approved

• Unaudited standalone and consolidated results for quarter ended June 30, 2026 approved.
• Standalone Q1 FY27: revenue from operations Rs 2,244.08 crore; PAT Rs 1,557.49 crore.
• Consolidated Q1 FY27: revenue from operations Rs 10,820.80 crore; PAT Rs 3,649.50 crore.

Key corporate actions

• Jaypee Fertilizers & Industries Limited acquired 100% stake on May 21, 2026 for Rs 1.50 crore.
• Abbot Point Port Holdings Pte Limited acquisition: Goodwill Rs 2,403.27 crore.
• NCLT Ahmedabad approved Adani Harbour Services Limited merger with APSEZL; effective July 1, 2025; restated.
• Adani Vizhinjam Port Private Limited: Mundi Limited to acquire 49% stake; subject to approvals.
• Labour Codes impact: exceptional item Rs 74.93 crore; impairment on loans Rs 80.27 crore.

Regulatory and audit updates

• US DOJ/US SEC indictment against a non-executive director; no impact on company as of reporting date.
• Auditor's review reports issued; unmodified conclusions for standalone and consolidated security cover.
• Security cover as at 30 Jun 2026: principal Rs 10,059.16 crore; interest Rs 215.94 crore.

Other disclosures

• Results uploaded on company website and disclosed to BSE/NSE.

Rating Action

• Agency: ICRA Limited.
• CP rating reaffirmed: [ICRA]A1+.
• LT funds-based/non-fund-based-others rating reaffirmed: [ICRA]AAA(Stable).
• NCDs rating reaffirmed: [ICRA]AAA(Stable).

Instruments / Facilities Rated

• Commercial Paper: Rs 6,700 crore; rating [ICRA]A1+.
• Long-term fund-based/Non-fund-based-others: Rs 10,020 crore; rating [ICRA]AAA(Stable).
• Non-convertible Debentures: Rs 17,000 crore; rating [ICRA]AAA(Stable).