Adani Ports delivered strong growth in logistics and cargo volumes in Q1, but analysts say the stock remains stuck in a consolidation range.
Shares of Adani Ports & SEZ rose on Wednesday after reporting steady first-quarter (Q1) earnings growth, with both domestic and international operations contributing to top-line expansion.
SEBI-registered analysts Rajneesh Sharma and Financial Independence shared their views on the company’s business performance and stock outlook.
Q1 Earnings Review
Adani Ports & SEZ posted a consolidated net profit of ₹3,315 crore in Q1, up 6.5% from the previous year, while revenue from operations rose 31% to ₹9,126 crore.
The company saw strong traction in its logistics and marine services segments, which helped lift cargo throughput to 121 million metric tonnes, an 11% year-on-year increase.
Segment-wise, domestic port operations brought in ₹6,137 crore with margins near 74.6%, while international port revenue rose 22% to ₹973 crore.
The logistics segment doubled its revenue to ₹1,169 crore, and marine services nearly tripled to ₹541 crore.
EBITDA stood at ₹5,495 crore, up 13% YoY, though margins compressed to about 60% due to a shifting business mix.
Financial Independence termed the performance “positive,” noting that top-line growth was anchored by volume expansion and service diversification.
The long-term outlook was described as constructive, given the upward trend in cargo volumes and improving segment contributions.
Meanwhile, Sharma highlighted record cargo volumes at 109.5 MMT, strong performance from key ports including Krishnapatnam and Mundra, and new partnerships in logistics and automation.
He noted challenges in the EXIM trade and bulk cargo pricing, along with some impact from global geopolitical disruptions.
The company reiterated FY26 cargo throughput guidance at 500 MMT and confirmed capex plans of ₹1,800 crore focused on automation and inland logistics.
Technical Breakdown
Sharma observed that Adani Ports shares are currently trading in a symmetrical triangle pattern on the weekly chart, with consolidation between ₹1,303 and ₹1,479. The relative strength index (RSI) is neutral at 52.4, and declining volumes indicate a lack of momentum.
He said the stock remains range-bound, with a breakout above ₹1,479 required for bullish confirmation.
A drop below ₹1,303 could lead to further downside toward ₹1,180. His near-term bias remains “neutral to bullish,” pending breakout validation.
On Stocktwits, retail sentiment for Adani Ports & SEZ was ‘bullish’ amid ‘high’ message volume.
The stock has risen 12.4% so far in 2025.
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