ADANIPORTSSPECIALECONOMI / 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 Jane · Aventis Spark

partial

Reason for 9% YoY domestic realization increase

higher implied revenue on aida per ton of this quarter is non-representative as it also includes some take up pay charges in addition to the routine price increase and mix change.

Ketan Jane · Aventis Spark

partial

Outlook for Mundra volumes for full year

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

Priyanka 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 of assets... these are sustainable recurring usual routine incomes.

Priyanka Biswas · JM Financial

direct

Timeline and volume impact of Vizhinjam phase 2 expansion

this 16,000 per is for the phase 2 development... will take the capacity more than 5 million... capex will go on till FY29 and payments till FY30.

Priyanka Biswas · JM Financial

direct

Contribution of Vizhinjam expansion to FY29 EBITDA target

this project will only be completed by FI29 and 36,000 cr you're talking about is for FI29 so it will be very very small contribution to that estimate.

Paras Jane · HSBC

direct

How 1 billion ton target will be achieved, domestic vs overseas

international is about 150 million metric tons... balance 850 million ton is all going to come from domestic market... current split is by and large indicative of how we will do.

Sumit Kashor · Access Capital

direct

Low container volume growth in logistics and DFC impact

we are targeting double digit growth as we have done even in this year... DFC impact is negligible and I would say zero.

Sumit Kashor · Access Capital

partial

Reason for flattish GPWIS volumes

predominantly on the east coast we've had an extended monsoon... flattish for 9 months is again linked to which commodity... no change in commodity mix.

Sumit Kashor · Access Capital

partial

Operating cash flow conversion and capex plans through 2030

annual interest net about 1,800 crores and tax similar... operating cash flows a little over 18,000 crores... we will give capex plan for FY27 in Q4.

Manish Sumea · Cantor

partial

What could have been better in the quarter

In Mindam we reached 30 GCR in December. If we would have reached it in October, we would have done more volumes in Virginia.

Manish Sumea · Cantor

evasive

Margins outlook for international ports and logistics

international margins bulk is coming from marine firing at about 55% EBITDA margin... best metric is return on capital employed... it's pointless to compare EBITDA margin.

Pulkit Partney · Goldman Sachs

direct

Coal volume proportion outlook and diversification

coal is not going down overall... imported thermal coal is going down but coastal coal is increasing... weightage of coal will go down and we should be somewhere between 20 to 22%.