Adani Ports to raise ₹6,000 crore through NCDs for capex, debt needs

Adani Ports will raise ₹6,000 crore via non-convertible debentures for capex, debt refinancing and corporate use as it targets 1 billion tonnes cargo capacity by 2030

India’s largest private port operator, Adani Ports and Special Economic Zone (APSEZ), is set to raise ₹6,000 crore through non-convertible debentures (NCDs).

 

The company’s board of directors, in its meeting held on Thursday (22 May), gave in-principle approval for the issuance of NCDs.

 

The amount raised through the proposed NCDs will be used to fund the company’s capital expenditure, refinance existing debt, and support general corporate purposes.

 

The funds may be raised in one or more tranches on a private placement basis. The NCDs will be listed on the Bombay Stock Exchange (BSE) and/or the National Stock Exchange (NSE).

 

 

As of 31 March 2025, the company’s net debt stood at ₹36,819 crore, while its net debt to earnings before interest, taxes, depreciation and amortisation (Ebitda) ratio stood at 1.9x, compared with 2.3x in the financial year 2023–24 (FY24). 

 

APSEZ aims to handle 1 billion tonnes per annum (mtpa) of cargo by 2030, backed by a planned capital expenditure of ₹50,000 crore between FY25 and FY30. As of FY25, the company’s cargo handling capacity stood at 633 mtpa.

 

In FY25, APSEZ handled 450.2 million metric tonnes (mmt) of cargo, a 7 per cent year-on-year (YoY) increase. For FY26, it has provided cargo volume guidance of 505–515 mmt and capex guidance of ₹11,000–12,000 crore.

 

Additionally, in FY25, the company’s profit (attributable to equity holders of the parent) grew by 36.8 per cent to ₹11,092.31 crore, while revenue rose by 14.1 per cent YoY to ₹30,475.33 crore. Ebitda for the same period stood at ₹19,025 crore. The growth was primarily driven by higher container cargo volumes.

 

For FY26, the company has guided revenue in the range of ₹36,000–38,000 crore and Ebitda between ₹21,000 crore and ₹22,000 crore.