APSEZ completes NQXT acquisition, raises FY26 cargo and EBITDA guidance

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said it has completed the acquisition of Australia’s North Queensland Export Terminal (NQXT), a move that has prompted the company to upgrade its FY26 cargo volume and earnings guidance.

On a proforma basis, APSEZ has raised its FY26 EBITDA guidance to ₹22,350–23,350 crore from the earlier ₹21,000-22,000 crore. Expected cargo volumes have also been revised upwards to 545-555 million metric tonnes (MMT), compared with the earlier guidance of 505-515

MMT.

The transaction, first announced in April, has now been completed after meeting all regulatory and shareholder approvals, including consent from majority-of-minority shareholders, the Reserve Bank of India and Australia’s Foreign Investment Review Board. As part of the deal, APSEZ allotted 14.38 crore equity shares of face value ₹2 each to the seller, Carmichael Rail and Port Singapore Holdings Pte Ltd, on a preferential basis.

The completion of the NQXT acquisition strengthens APSEZ’s international portfolio and supports its long-term ambition of handling 1 billion tonnes of cargo annually by 2030. The Australian terminal adds scale to APSEZ’s presence along the East-West trade corridor, complementing its existing overseas assets in Israel, Colombo and Tanzania.

“NQXT is a high-quality asset with strong growth visibility and cash-generating characteristics,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ. He added that the terminal’s geographic advantages and sustainability credentials make it a strategic fit for the group’s global expansion plans.

Located in resource-rich Queensland, NQXT serves as a critical export gateway for bulk commodity producers and currently has a capacity of 50 million tonnes per annum. The terminal operates largely under take-or-pay contracts, providing stable and predictable cash flows.

In FY25, NQXT had a contracted capacity of 40 million tonnes and generated A$228 million in EBITDA on a proforma basis. The asset accounted for around 6% of APSEZ’s revenue and 7% of its EBITDA during the year.

With the acquisition now fully closed, APSEZ said the improved guidance reflects the immediate earnings contribution from NQXT and greater visibility on volumes across its domestic and international port network.