Adani Ports shares rally 8% in 2 days after robust Q4 results, April cargo boost confidence

Shares of Adani Ports and Special Economic Zone (APSEZ) have advanced 8.3% in two sessions since the company posted stronger-than-expected quarterly results on Thursday, with the stock rising as much as 4% on Monday to Rs 1,317.55 on the BSE.

The rally follows a 4.4% jump on Friday, when Adani Ports emerged as the top gainer on the Nifty index. The stock has now erased all of its 2025 losses and is up 7.2% year-to-date. Over the past month, shares have gained 11%, although they remain down 2% over the last six months.

Adani Ports on Thursday reported a 50% year-on-year increase in consolidated net profit at Rs 3,023 crore for the quarter ended March 2025, compared to Rs 2,025 crore a year earlier. Revenue rose 23% to Rs 8,488 crore, while EBITDA climbed 24% to Rs 5,006 crore, reflecting broad-based strength across the company’s ports, logistics, and marine services businesses.

“Our record-breaking performance in FY25—crossing Rs 11,000 crore in PAT and handling 450 MMT cargo—is a testament to the power of integrated thinking and flawless execution,” said Ashwani Gupta, CEO and Whole-Time Director at APSEZ.

Cargo volumes rose 8% year-on-year to 117.9 million metric tonnes (MMT) during the fourth quarter of FY25. Mundra Port led the growth, handling 50.7 MMT—up 11%—and became the first Indian port to surpass 200 MMT in a financial year. Container volumes jumped 23% year-on-year, driven by strong growth across both domestic and international segments.

Revenue from the logistics division nearly doubled to Rs 1,030 crore in the March quarter, supported by expansion in trucking and integrated freight offerings. Logistics EBITDA rose to Rs 181 crore, with margins improving to 18%.

Marine services revenue soared 125% year-on-year to Rs 361 crore, while EBITDA surged 167% to Rs 259 crore, highlighting continued growth in the company’s non-port operations.

APSEZ’s net debt-to-EBITDA ratio improved to 1.9x from 2.3x a year ago, underscoring its financial discipline. EBITDA margins held steady at 59%, supported by efficiency gains and operating leverage.

In the March quarter, APSEZ expanded its international footprint by commencing operations at Colombo’s West International Terminal and advancing on the acquisition of North Queensland Export Terminal in Australia. Domestic capacity additions at Vizhinjam and Gopalpur also contributed to the company’s growth momentum.

For FY26, the company has guided for revenue of Rs 36,000–38,000 crore and EBITDA of Rs 21,000–22,000 crore.

The latest leg of the rally also comes on the back of a strong operational update for April 2025. APSEZ, India’s largest private port operator, reported handling 37.5 million tonnes (MT) of cargo last month, a 4% year-on-year rise. Growth was driven by a 21% surge in container volumes and an 8% increase in liquids and gas handling.

In its logistics division, the company moved 57,751 TEUs (twenty-foot equivalent units) via rail in April, marking a 17% increase from a year earlier. Volumes under Indian Railways’ General Purpose Wagon Investment Scheme (GPWIS) reached 1.8 MT, up 4%.

“The recent fall from its peak was in line with the broader market correction since September, and we anticipate a rebound in the share and maintain a bullish outlook,” said Ankita Shah, vice president of research – institutional equities at Elara Capital.

The stock is currently trading above all eight of its key daily moving averages—the 5, 10, 20, 30, 50, 100, 150, and 200-DMA—suggesting bullish momentum is intact. Its Relative Strength Index (RSI) stands at 64.0, indicating the stock is in neutral territory and neither overbought nor oversold.

Also read | Adani Ports Q4 Results: Net profit rises 50% YoY to Rs 3,023 crore, revenue jumps 23%

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