ADANIPORTS / Q3-FY26 / claim-ledger

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Adani Ports · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

Answered directly

68%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Ketan Jain · Avendus Spark

partial

Reason for 9% YoY domestic realization increase

We have increased... higher implied revenue and EBITDA per ton... includes some take-or-pay charges, in addition to the routine price increase and mix change... we don't give the breakdown of each of these elements.

Ketan Jain · Avendus Spark

direct

Cargo breakdown of international ports

Colombo, 5.4 MMT, Haifa, 2.1, and Tanzania, 3.1. 3.1 MMT, these are all quarterly numbers.

Ketan Jain · Avendus Spark

partial

Outlook for Mundra full year

Mundra is doing extremely well... container cargo... in quarter three, we did roughly 2.2 million. In January, we touched 754,000... after the CT5 comes in, definitely, we will have a add-on capacity.

Priyankar Biswas · JM Financial

partial

Reason for significant increase in 'others' revenue and EBITDA

Subsequent to last financial year's income tax changes, we did a little bit of a restructuring... these are sustainable, recurring, usual routine incomes... nothing to highlight to you on quality of income.

Priyankar Biswas · JM Financial

direct

Vizhinjam expansion timeline, CapEx, and volume targets

This INR 16,000 crore is for the phase two development... will take the capacity more than 5 million... CapEx will go on till FY 2029... FY 2026, we have INR 90 million... FY 2027, INR 350 million... FY 2028, INR 700 million...

Priyankar Biswas · JM Financial

direct

Contribution of Vizhinjam expansion to FY29 EBITDA target

This expansion... will be completed by FY 2029... it will be very, very small contribution to that estimate.

Priyankar Biswas · JM Financial

partial

Balance sheet impact of NQXT consolidation from next quarter

The total debt, net debt of Australia, is about INR 4,800 crore as of December 2025... INR 4,500 crore.

Parash Jain · HSBC

direct

Will 1 billion ton target be fulfilled by ongoing expansions?

International is about 150 million metric tons... current four ports... has a very clear visibility... balance, 850 million ton... all going to come from domestic market... current volumes... coming from the existing ports.

Parash Jain · HSBC

evasive

Pricing difference between Vizhinjam and Colombo

Pricing is always the consequence of supply and demand... Colombo is short of capacity... Vizhinjam... will keep its competitiveness... we have no pricing pressure because of that.

Sumit Kishore · Axis Capital

direct

Container volume growth in logistics and impact of DFC

We are targeting double-digit growth... we are in double-digit, we're roughly at 11%... DFC... impact on us is negligible, and I would say zero.

Sumit Kishore · Axis Capital

direct

GPWIS volumes flattish reason

It's predominantly... on the East Coast, we've had an extended monsoon. So I've gone from 5.5 to 5.2... no change in commodity mix.

Sumit Kishore · Axis Capital

partial

EBITDA to operating cash flow conversion and CapEx plans

We have an annual interest net... about INR 1,800 crores. And tax... similar amount... we have already given you the guidance for the full year of INR 22,800 crores as the EBITDA... we will give you... CapEx plan for FY 2027... at the time of Q4 results.