India’s largest private port operator, Adani Ports and Special Economic Zone (APSEZ), is set to raise Rs 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 Rs 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 Rs 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 Rs 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 Rs 11,092.31 crore, while revenue rose by 14.1 per cent YoY to Rs 30,475.33 crore. Ebitda for the same period stood at Rs 19,025 crore. The growth was primarily driven by higher container cargo volumes.

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

Source: Business Standard 

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