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Adani Ports and Special Economic Zone (APSEZ) and the Port of Marseille Fos, France's leading port and the Mediterranean's premier gateway, have signed a Memorandum of Understanding (MoU) to deepen cooperation on trade facilitation, port innovation, and energy transition.
This partnership proposes the creation of an IMEC Ports Club to strengthen coordination among key ports along the India–Middle East–Europe Economic Corridor (IMEC) route, reinforcing connectivity between India and the European Union. This completes the IMEC pathway for India-EU trade, that has been boosted by the FTA between India and the EU, termed as ‘the mother of all deals' by the Hon'ble Prime Minister of India Shri Narendra Modi.
The MoU was signed during the visit of French President Emmanuel Macron, underscoring the expanding India–France strategic partnership and aligning it with the broader IMEC and India–EU trade vision. Launched at the 2023 G20 Summit in New Delhi, the India Middle East–Europe Economic Corridor (IMEC) is a 6,000-km multimodal connectivity initiative linking India and Europe through integrated maritime routes, rail networks, digital systems and clean-energy pathways.
On the eastern gateway of IMEC, APSEZ's ports at Mundra and Hazira form a multimodal logistics hub connecting South Asia to West Asia. Through this MoU, Marseille Fos strengthens the western European gateway of the corridor, adding approximately 70 million tonnes of capacity and extending IMEC's reach deeper into Europe.
Marseille Fos is one of Europe's largest integrated multi modal port ecosystems. This partnership establishes a more structured and coordinated pathway to facilitate India–EU trade flows.
The MoU, signed during French President Emmanuel Macron’s visit to India, proposes the creation of an IMEC Ports Club to coordinate key ports along the India–Middle East–Europe Economic Corridor (IMEC), strengthening connectivity between India and the EU. The move complements the recently signed India–EU Free Trade Agreement, described by Prime Minister Narendra Modi as “the mother of all deals.”
Launched at the 2023 G20 Summit, IMEC is a 6,000-km multimodal trade corridor linking India and Europe through integrated maritime, rail, digital, and clean-energy networks. APSEZ’s eastern ports at Mundra and Hazira form a multimodal hub connecting South Asia to West Asia, while Marseille Fos anchors the western European gateway, adding around 70 million tonnes of capacity to the corridor.
Under the partnership, the two ports will focus on promoting IMEC as a sustainable and competitive trade route, technical exchanges in smart-port technologies, data interoperability, cybersecurity, low-carbon fuels, and developing the Mundra–Marseille Fos Green Maritime Corridor. The IMEC Ports Club will institutionalise dialogue among corridor ports and coordinate policy and investment frameworks.
The collaboration is expected to facilitate India–EU trade flows and strengthen long-term connectivity along the IMEC route.
“India has already taken a leadership role in advancing this corridor, and with the conclusion of the India–EU Free Trade Agreement, trade between the participating countries is expected to grow manifold,” said Ashwani Gupta, Whole-time Director & CEO, APSEZ. “At APSEZ, our ports in Hazira and Mundra on India’s western coast have already established a seamless pathway across the first and middle legs of the corridor. With this MoU with the Port of Marseille Fos in France, we have now successfully connected the final leg to Europe. This partnership will significantly accelerate the exchange of information and materials among all participating nations, further strengthening economic cooperation and supply-chain resilience.”
Hervé Martel, CEO of the Port of Marseille Fos, added: “We are pleased to strengthen our partnership with APSEZ at a moment when the IMEC corridor is entering a decisive phase. India and Marseille stand at the two extremities of this future trade backbone, giving both ports a major responsibility in structuring and energizing this new route. Together, we intend to mobilize and federate the ports involved, and to act as strong advocates of a more efficient, resilient and sustainable connection between our regions.”
Adani Ports and Special Economic Zone (APSEZ) is the largest private port operator in India. APSEZ operates a portfolio of 15 domestic ports/terminals with an international presence at 4 global ports/terminals. Along with its port operations, it has its wide logistics network and offers various port-based marine services to its owned ports/terminals as well as other ports.
The company’s consolidated net profit jumped 24.9% to Rs 3,176.72 crore on 21.9% rise in revenue from operations to Rs 9,704.59 crore in Q3 FY26 over Q3 FY25.
Shares of Adani Ports and Special Economic Zone fell 1.14% to Rs 1,548.75 on the BSE.
Logistics rail volume during Jan’26 stood at 59,308 TEUs, up 3% YoY, while GPWIS volume was recorded at 1.9 MMT, remaining flat on a YoY basis.
On a year-to-date (YTD) basis till January 2026, APSEZ handled total cargo of 412.2 MMT, marking an 11% YoY increase, primarily led by container volumes, which rose 18% YoY.
Logistics rail volume during YTD Jan’26 stood at 588,179 TEUs, up 10% YoY, while GPWIS volume was at 18 MMT, flat YoY.
Adani Ports and Special Economic Zone (APSEZ) has reported a 29% increase in consolidated net profit to Rs 3,120 crore on a 30% rise in revenue to Rs 9,167 crore in Q2 FY26 as compared with Q2 FY25.
The counter jumped 4.76% to Rs 1,402.90 on the BSE.
Further, Sreedhar Krishna Menon, who is currently serving as Chief Financial Officer of AdaniConnex, (a group Company) will assume the role of Chief Financial Officer and Key Managerial Personnel of the Company effective from 01 March 2026.
EBITDA stood at Rs 5,786 crore in Q3 FY26, registering the growth of 20%, compared with Rs 4,802 crore posted in Q3 FY25.
In Q3 FY26, the company’s Cargo volume was 123 MMT (up 9% YoY), Rail volume was 170,466 TEUs (up 4% YoY) and GPWIS volume was 5.2 MMT (down 6% YoY).
On the segmental front, revenue from Domestic Ports was Rs 6,701 crore (up 15.02% YoY), International Ports revenue was Rs 1,067 crore (up 20.56% YoY), revenue from Logistics was Rs 1,121 crore (up 61.76% YoY), Marine revenue was Rs 773 crore (up 90.39% YoY) and Other revenue was Rs 43 crore (down 72.08% YoY).
The All-India market share of Adani Ports for December 2025 quarter was 26.4% (down 60 basis points YoY). The all-India container market share stood at 45.8%, up 40 basis points YoY.
On the guidance front, the company revised its FY26 revenue guidance to Rs 38,000 crore, up from earlier range of Rs 36,000-38,000 crore. The EBITDA guidance was also raised to Rs 22,800 crore from the earlier range of Rs 21,000 -22,000 crore. Additionally, the company now expects revenue from its marine business to grow by 2.3 times in FY26, up from the earlier estimate of 2 times.
Ashwani Gupta, whole-time director & CEO, said, “As India’s largest and the world’s fastest-growing Integrated Transport Utility, APSEZ has once again delivered a strong and resilient performance. Sustained momentum across our four business pillars, combined with the consolidation of NQXT, has enabled us to raise the upper end of our FY26 EBITDA guidance by a robust Rs 800 crore.
Our financial and operational stability has been further reinforced by multiple credit rating upgrades, including an exceptional ‘A-/Stable’ rating from Japan Credit Rating Agency, which is a notch above India’s sovereign rating - a strong validation of our governance standards and financial prudence.
Towards the end of FY24, we articulated a clear ambition to double our revenue and EBITDA by FY29 to Rs 65,500 crore and Rs 36,500 crore respectively.”
Meanwhile, the company’s board approved the resignation of chief financial officer (CFO), D. Muthukumaran with effect from 28 February 2026. Following his cessation, Sreedhar Krishna Menon will assume the role of CFO with effect from March 1, 2026.
Menon is a Cost Accountant and a Management Graduate. He has also completed the Advanced Management Program at Harvard Business School. Menon is an experienced professional with more than 30 years of experience in various disciplines of finance and accounts. Throughout his career, he has held various leadership positions at Pennar Group, AFL Private Limited, Bharti Airtel Limited and AdaniConnex.
Japan Credit Rating Agency (JCR), Japan's leading rating agency has initiated ratings of three Adani Portfolio companies— Adani Ports & Special Economic Zone (APSEZ), Adani Green Energy (AGEL) and Adani Energy Solutions (AESL), assigning long-term foreign currency credit ratings with a Stable outlook to all three group companies.
This is a significant milestone in the Group's global credit journey and reinforces its underlying credit strength. JCR has assigned Adani Ports & Special Economic Zone (APSEZ) a A- (Stable) rating, representing a rare breach of the sovereign threshold by an Indian corporate by an international rating agency.
Adani Green Energy (AGEL) and Adani Energy Solutions (AESL) have each been rated BBB+ (Stable). These ratings are at par with India's sovereign rating of BBB+.
APSEZ's strong rating underlines its strong credit profile, diversified asset base, and resilient cash flow generation, and places it among a select group of Indian infrastructure companies to achieve an above-sovereign rating from a leading international rating agency.
The ratings also mark one of the first instances of Indian infrastructure platforms being assessed by JCR at these levels, highlighting the Adani Group's growing engagement with global rating agencies and its increasing alignment with international credit benchmarks.
Jugeshinder Singh, Group CFO, Adani Group, said, “These landmark ratings reflect the Adani Group's commitment to disciplined financial management, strengthening balance sheet fundamentals, and world-class execution across our diversified infrastructure platform. They reaffirm the depth and resilience of our business model and reflect the confidence global lenders, institutional investors, and capital markets place in our long-term strategy. This endorsement further strengthens our position as a leading partner in India's infrastructure buildout and reinforces our commitment to delivering sustainable, high-quality growth.”
For the year-to-date (YTD) period ended 31 December 2025, APSEZ handled 367.3 MMT of cargo, registering an 11% YoY increase. Container volumes continued to outperform, rising 21% YoY during the period.
Logistics rail volumes for the YTD period increased 11% YoY to 528,872 TEUs, while GPWIS volumes stood at 16.1 MMT, broadly flat on a YoY basis.
The counter slipped 1.02% to Rs 1,477.40 on the BSE.