Adani ports reports strong H1 results, plans subsidiary merger

Adani Ports and Special Economic Zone Limited (APSEZ) announced its unaudited financial results for the quarter and half year ended September 30, 2025. Consolidated total income reached ₹19,426.24 crore for the half year, with profit after tax for the same period at ₹6,430.80 crore. The company reported a healthy debt-to-equity ratio of 0.76 and a robust debt service coverage ratio of 6.04 as of September 30, 2025.

In a move to enhance operational efficiency, APSEZ's board of directors approved the scheme of amalgamation of its wholly-owned subsidiary, Adani Harbour Services Limited (AHSL), with APSEZ. This merger, subject to regulatory approvals, aims to reduce the number of corporate entities, realize operational synergies, and integrate business functions. As AHSL is a wholly-owned subsidiary, the transaction is classified as a related party transaction but is exempt from certain provisions.

AHSL provides consulting services for port operations and marine logistic support, complementing APSEZ's role as India's largest multi-port operator. The amalgamation will not involve any cash or share consideration, nor will it change APSEZ's shareholding pattern. The security cover for APSEZ's secured non-convertible debentures, amounting to ₹10,485.37 crore, was confirmed as sufficient, with a security cover ratio of 1.76.