Ports – Apr-Jun’26 Earnings Preview – Resilient performance despite prolonged disruptions
Published on 07 Jul 2026
We expect our ports coverage universe to report revenue/EBITDA/PAT growth of 18%/12%/2% YoY (0%/0%/4% QoQ) in Q1FY27, supported by resilient container traffic, improved coal volume and better realization, despite lingering impact of geopolitical disruptions on key trade routes. ADSEZ is expected to continue to outperform, driven by sustained container throughput at Vizhinjam and CWIT, along with healthy coal volume supported by commencement of Tata Power's Mundra UMPP. Liquid volume, on the other hand, are expected to moderate from the strong run-rate witnessed in May’26. JSWINFRA's performance is likely to be affected by the disruptions at the Fujairah Liquid Terminal; strong throughput at Jaigarh and Dharamtar, healthy domestic commodities demand and continued ramp-up of the rail logistics business should partially offset the impact. Top pick: ADSEZ.
