Adani Ports and Special Economic Zone (APSEZ) has been witnessing a steady uptick in its share price, supported by a solid performance in the March quarter and an optimistic revenue outlook for the ongoing financial year.
India’s largest private port operator reported a 50% surge in net profit for Q4FY25, reaching ₹3,025 crore, compared to ₹2,015 crore in the same quarter last year. Cargo volumes handled by its network of 15 ports rose 8% year-on-year to 118 million tonnes in the March quarter and 7% annually to 450 million tonnes for the full fiscal year 2024–25.
The company posted a 16% increase in revenue for FY25, totaling ₹31,079 crore. Notably, its ports business—APSEZ’s primary revenue driver—grew 12%, while its logistics segment expanded by a robust 39%, fueled by increased container and bulk cargo throughput.
Looking ahead, the company expects revenue growth of between 15.8% and 22.2% in FY26, underpinned by its aggressive expansion plans and strategic positioning along India’s coastline, which facilitates seamless maritime trade.
Brokerages have taken note of the positive momentum. Domestic brokerage Anand Rathi initiated coverage on the stock with a ‘Buy’ recommendation and set a target price of ₹1,600 per share—implying an upside of nearly 20% from the stock’s recent closing. The brokerage lauded APSEZ’s dominance in the sector and its focus on integrated logistics, projecting strong growth through FY30.
Anand Rathi expects APSEZ to outpace India’s overall cargo volume growth by 1.5–2x, as it aims to double its port capacity and triple its logistics capabilities by FY29. The firm forecasts cargo volume growth of 11% between FY25 and FY27, with corresponding revenue, EBITDA, and PAT compound annual growth rates (CAGR) of 13%, 15%, and 20%, respectively.
The company’s “waterfront to customer gate” strategy, which emphasizes end-to-end logistics and last-mile connectivity, is seen as a key differentiator. Upcoming greenfield port projects, deeper penetration into value-added logistics, and technology-driven efficiency are expected to further cement its competitive edge in the sector.
With a clear roadmap for expansion and a track record of consistent performance, Adani Ports is positioning itself for sustained growth and increased market share in India’s evolving maritime landscape.
