Adani Ports & Special Economic Zone (APSEZ) | Latest market updates

Adani Ports Becomes AAA-Rated Entity, First Private Infra Developer In India

APSEZ achieves a historic AAA Rating from CARE Ratings, leading India’s infrastructure development with strong growth and unmatched market dominance.

Adani Ports & Special Economic Zone (APSEZ) is a part of the Adani Group that specializes in the development, operation, and maintenance of port infrastructure, encompassing port services and related infrastructure development. Furthermore, it oversees a multi-product Special Economic Zone (SEZ) and associated infrastructure situated alongside the port at Mundra, Gujarat.

APSEZ received an AAA Rating

APSEZ announced that it has attained an “AAA” rating from CARE Ratings (Credit Analysis & Research Ltd), which is an Indian credit rating agency. The ‘AAA’ rating it has awarded is the highest attainable rating for an issuer from credit-rating agencies in India. It signifies the highest level of creditworthiness and the capability to repay investors. It made APSEZ the first large-scale private infrastructure developer to achieve this status. This rating primarily comes from its strongly integrated business model, dominant industry position, continued market share expansion alongside sound profitability, along with maintaining liquidity and minimal leverage.

Company’s Position

It’s important to highlight that two transmission assets owned by Adani Energy Solution — WTGL (West Transmission Gujarat Limited) and Alipurdwar — have also received AAA ratings from India Ratings. However, at the corporate level, APSEZ is the first to achieve this rating within the company. From managing only two ports (Mundra and Dahej) in 2011, APSEZ has expanded its operations to encompass a total of 14 ports situated along India’s entire coastline. Holding a 27% market share, APSEZ’s ports serve as crucial entry points for India’s trade and economic development narrative.

APSEZ’s Strong Position

APSEZ experienced a compounded annual growth rate (CAGR) of 15% in volumes from FY19 to FY24, contrasting with the 4% CAGR observed for other Indian ports during the same period. In FY24, APSEZ managed a cargo volume of 419.95 MMT, marking a 24% increase compared to the preceding fiscal year. This remarkable growth trajectory highlights APSEZ’s unmatched dominance in this sector, demonstrating impressive growth going ahead in the industry.


In conclusion, APSEZ achieving an AAA rating represents a notable achievement, not just for the company itself, but also for India’s infrastructure industry on the whole. Additionally, its remarkable growth is driven by its expanded reach, strategic port locations, operational efficiencies, and diverse integrated services, including Special Economic Zones and logistics, positioning it as a leader in India’s infrastructure sector.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.