Cash surplus at Adani Ports to fund Vizhinjam's growth

Vizhinjam's proximity to other Indian ports and tech use will cut turnaround times, save cost.

- Nehal Chaliawala

Adani Ports and Special Economic Zone (APSEZ) has an odd problem—it is making more cash than it knows how to deploy—a problem only to be expounded by its new Vizhinjam transhipment port, which was inaugurated Friday.

"We have more cash flow than we can utilize," said Karan Adani, the company's managing director. Excess cash on hand has resulted in the company's leverage ratios falling to a suboptimum level, he said. The company is looking for organic and inorganic expansion opportunities, particularly in South-east Asia and East Africa, said the elder son of Adani Group founder and chair Gautam Adani.

APSEZ also plans to invest 11,000-12,000 crore in capital expenditures over the course of FY26, chief executive Ashwani Gupta said. About half of this money will go to expanding capacity at its existing 16 ports. The rest will go into growing its logistics and marine services portfolio, operations technology, and decarbonization. The firm will buy more trucks to increase its footprint in inland logistics.