Ahmedabad, Aug 7 (NationPress) Major global brokerages including Goldman Sachs, HSBC, and Jefferies have collectively assigned a 'BUY' rating to Adani Ports and Special Economic Zone (APSEZ). This comes after the company showcased impressive performance in the first quarter of this fiscal year, Q1 FY26.

Jefferies reported that the company's Q1 EBITDA surpassed expectations by 14 percent, driven by enhanced margins in domestic ports and a remarkable 2.0-2.9 times year-on-year surge in logistics and marine revenue.

Commending the management's unwavering commitment, the global brokerage noted that the management emphasized its goal of absolute EBITDA growth, aiming to provide comprehensive solutions rather than merely focusing on volume.

They maintained the FY26 volume guidance at 505-515 million tonnes, representing a 12-14 percent year-on-year increase.

As per HSBC Global Investment Research, Adani Ports exhibited robust growth in Q1 revenues and improved margins across significant business sectors. The strong ramp-up of new assets and the recovery in international port and logistics margins highlight the company’s solid earnings trajectory.

Goldman Sachs acknowledged that despite tariff-related uncertainties, APSEZ's impressive portfolio of port assets positions it for significant market share growth, particularly as the ports of Vizhinjam, Colombo, and Tanzania accelerate operations in FY26, and Gangavaram recovers its volumes, leading to an estimated 12.5 percent volume growth.

Kotak Institutional Equities reported a 30 percent year-on-year increase in APSEZ's EBITDA, despite facing challenges with imported coal and the transshipment sector.

Recently, APSEZ announced a 21 percent increase in quarterly revenue, reaching Rs 9,126 crore, propelled by a twofold increase in logistics and a 2.9 times rise in marine revenue. Net profit rose by 7 percent to Rs 3,311 crore in the April-June quarter compared to Rs 3,107 crore in the same period last year.

Cargo volume climbed to 121 million metric tonnes (MMT) from 109 MMT, reflecting an 11 percent growth, with an increase in all-India cargo market share to 27.8 percent in Q1 FY26 from 27.2 percent in Q1 FY25. The container market share stood at 45.2 percent (down from 45.9 percent in Q1 FY25).

Logistics revenue surged to Rs 1,169 crore from Rs 571 crore in the same quarter, while marine revenue reached Rs 541 crore, up from Rs 188 crore with 118 vessels.