APSEZ completes acquisition of NQXT Australia, revises FY26 Ebitda guidance

Adani Ports and Special Economic Zone has completed the NQXT Australia acquisition and raised FY26 Ebitda and cargo volume guidance, citing the terminal's growth and cash flows

Adani Ports and Special Economic Zone (APSEZ) has completed the acquisition of a 100 per cent stake in NQXT (North Queensland Export Terminal) Australia, allotting 14.38 crore equity shares of the face value of ₹2 each to the seller, Carmichael Rail and Port Singapore Holdings, on a preferential basis.

 

With this, the company has revised its 2025-26 earnings before interest, taxes, depreciation, and amortisation (Ebitda) guidance to ₹22,350 crore - ₹23,350 crore from ₹21,000 crore-₹22,000 crore and cargo volume to 545-555 million metric tonnes (mmt) from 505-515 mmt.

 

“NQXT is an excellent asset with distinct geographical advantages, strong growth prospects, and an enviable sustainability track record. NQXT will enhance our presence along the East-West trade corridor, along with our other international ports in Israel, Colombo and Tanzania,” said Ashwani Gupta, whole-time director and chief executive officer, APSEZ.

 

 

NQXT is a high-growth, cash-generating asset, driven primarily by take-or-pay contracts with customers. Last financial year, NQXT had a contracted capacity of 40 mtpa and delivered AUD 228 million Ebitda. The company said, on a pro forma basis, NQXT represents 6 per cent and 7 per cent of APSEZ’s FY25 revenue and Ebitda, respectively.

 

APSEZ’s revenue in FY25 stood at ₹30,475.33 crore, with Ebitda of ₹19,025 crore. Overall, the private port operator handled a cargo of 450.2 mmt last financial year. APSEZ’s current cargo handling capacity is 633 mtpa, and it holds 28 per cent of India's total port volumes.

 

APSEZ had approved the acquisition of NQXT, a natural deep-water, multi-user export terminal with a nameplate capacity of 50 million tonnes per annum (mtpa), in a non-cash transaction in April this year. It said the closure of NQXT’s acquisition is a significant milestone in its growth trajectory towards 1 billion metric tonne cargo by 2030.

 

NQXT is under a long-term lease from the Queensland government and is located in the Port of Abbot Point in North Queensland. It mainly serves mining customers operating in Bowen and Galilee basins and exports largely to markets in North and South-East Asia. NQXT has a remaining lease term of 85 years.