Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended 30th September 2026 (Q2 FY27)

Nature of Filing / Announcement: Regulatory filing of unaudited financial results and corporate actions under SEBI LODR Regulations.

Audit Opinion:

The Limited Review Report for both the Standalone and Consolidated financial results is Unmodified.

Auditor’s Comment:

The auditors stated that based on their review, nothing has come to their attention that causes them to believe that the accompanying Statement contains any material misstatement.

Key Financial Highlights [₹ in Million]

Standalone Results:

For the Quarter ended 30/09/2026 (Q2 FY27):

  • Revenue from Operations: ₹3,391.52 (YoY growth of 13.4% from ₹2,991.49 in Q2 FY26)
  • Total Income: ₹3,602.92
  • Net Profit: ₹1,501.02 (Compared to ₹1,583.06 in Q2 FY26)
  • EPS: ₹3.10 (Compared to ₹3.27 in Q2 FY26)

For the Half Year ended 30/09/2026 (H1 FY27):

  • Revenue from Operations: ₹6,709.19 (YoY growth of 22.1% from ₹5,492.78 in H1 FY26)
  • Total Income: ₹7,075.12
  • Net Profit: ₹2,969.79 (Compared to ₹2,590.33 in H1 FY26)
  • EPS: ₹6.14 (Compared to ₹5.35 in H1 FY26)

Standalone Assets and Liabilities as at 30/09/2026:

  • Other Equity: ₹17,254.30 million (Compared to ₹16,717.88 million as at 31/03/2026)
  • Cash and Cash Equivalents: ₹121.19 million (Component of Bank Balances)
  • Total Debt (Financial Liabilities): Not separately specified in a single line item. Lease liabilities are ₹122.68 million (Non-current) and ₹171.53 million (Current).
  • Total Assets: ₹28,510.08 million

Consolidated Results:

For the Quarter ended 30/09/2026 (Q2 FY27):

  • Revenue from Operations: ₹3,391.52
  • Total Income: ₹3,564.92
  • Share of Net Profit of Associate (Pipavav Railway Corporation Ltd.): ₹68.18
  • Net Profit: ₹1,526.90
  • EPS: ₹3.16

For the Half Year ended 30/09/2026 (H1 FY27):

  • Revenue from Operations: ₹6,709.19
  • Total Income: ₹7,037.12
  • Share of Net Profit of Associate: ₹80.12
  • Net Profit: ₹3,005.90
  • EPS: ₹6.22

Consolidated Assets and Liabilities as at 30/09/2026:

  • Other Equity: ₹19,192.42 million
  • Cash and Cash Equivalents: ₹121.19 million
  • Total Assets: ₹31,273.35 million

Segment-wise Performance:

The Company has only one reportable business segment, which is "Port Services" and only one reportable geographical segment, which is the port at Pipavav, Gujarat, India. Accordingly, the Company is a single segment Company.

Corporate Actions:

  • Interim Dividend: The Board declared an interim dividend of ₹3.00 per equity share (face value ₹10 each) for FY 2026-27.
  • Aggregate Payout: ₹1,450.32 million on 483,439,910 equity shares.
  • Record Date: Thursday, 12th November 2026.
  • Payment Date: Likely by Wednesday, 25th November 2026.
  • Final Dividend for FY26: A final dividend of ₹5 per share (₹2,417.20 million) was approved in the AGM on 9th September 2026 and paid on 16th September 2026.

Other Significant Information:

Legal and Regulatory Matters:

1. Gujarat Maritime Board (GMB) Dispute: A dispute regarding expansion plan approval conditions was proposed to be settled for ₹188.31 million by an Expert Committee. The Company's Board has accepted this proposal. The matter is pending execution of a settlement agreement.

2. Customer Arbitration: An arbitration award was issued against the Company, ordering a refund of ₹107.30 million plus interest to a customer. The total estimated liability accrued is ₹671.64 million. The Company has filed a petition challenging the award and submitted a bank guarantee of ₹601.36 million to the Mumbai High Court as a condition for a stay on the award's execution.

SEIS Duty Credit Scrips:

  • The Company received approvals for and realized gains from Duty Credit Scrips under the Service Exports from India Scheme (SEIS) for various financial years (2015-16 to 2019-20). The realized value of these scrips has been recognized as Other Operating Revenue within Revenue from Operations.
  • In the current quarter (Q2 FY27), scrips with a face value of ₹11.79 million (FY 2019-20) were recognized at an estimated realizable value of ₹11.46 million.

Exceptional Items:

The financial results for the year ended 31st March 2026 included an exceptional item of ₹43.29 million pertaining to restructuring costs and the impact of New Labour Codes. There were no exceptional items in the current quarter (Q2 FY27) or half year (H1 FY27).

Cyclone Tauktae:

The Company noted that restoration work related to Cyclone Tauktae (May 2021) was completed in previous years, with a full and final insurance settlement of ₹282.57 million received in October 2025. No additional expenditure was incurred in the current period.

Capital Work-in-Progress:

Standalone CWIP increased to ₹3,588.41 million as of 30/09/2026 from ₹2,858.91 million as of 31/03/2026.