Adani Ports & SEZ has received an 'Excellent' Environmental, Social, and Governance (ESG) rating of 76 from ESG Risk Assessments and Insights Limited. The company disclosed this achievement through a regulatory filing on January 15, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ESG Rating Achievement

The ESG rating assessment places Adani Ports and Special Economic Zone Limited in the 'Excellent' category, highlighting the company's strong performance across environmental, social, and governance parameters. The rating demonstrates the organization's commitment to sustainable business practices and responsible corporate governance.

Company's ESG Leadership Position

According to the regulatory disclosure, this rating reflects the company's position as an ESG leader in the ports and logistics sector. The assessment recognizes Adani Ports' robust risk management framework and exceptionally strong track record in managing material ESG risks. This achievement underscores the company's systematic approach to integrating environmental, social, and governance considerations into its business operations.

Regulatory Compliance

The disclosure was made in compliance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which mandates listed companies to inform stock exchanges about significant ESG ratings. Company Secretary Kamlesh Bhagia signed the regulatory filing, ensuring proper documentation and transparency for stakeholders.

Strategic Significance

The 'Excellent' ESG rating positions Adani Ports favorably among investors and stakeholders who increasingly prioritize sustainable investment practices. The rating validates the company's efforts in maintaining high standards of environmental stewardship, social responsibility, and corporate governance while operating critical port infrastructure and logistics facilities across India.

Moody's Ratings has upgraded the outlook to stable from negative for three key Adani Group entities, marking a significant positive development across the conglomerate's infrastructure businesses. The rating agency announced outlook upgrades for Adani Transmission Step-One Ltd (ATSOL), Adani Electricity Mumbai Ltd (AEML), and Adani Ports and Special Economic Zone Ltd (APSEZ) while reaffirming their Baa3 investment grade ratings.

Rating Actions Across Adani Entities

The comprehensive rating actions demonstrate Moody's improved confidence in the group's financial stability and liquidity access. The key rating changes include:

Rationale for Outlook Upgrades

Moody's cited expectations that all three companies will maintain solid access to liquidity and credit profiles consistent with their investment-grade ratings over the next 12-18 months. The rating agency emphasized improved financial profiles and robust liquidity positions as key factors supporting the upgrade decision.

For ATSOL, the rating agency highlighted close credit linkages with parent Adani Energy Solutions Ltd (AESL), including guarantees on bonds and default provisions tied to AESL's credit profile. The rating agency emphasized AESL's diversified portfolio of regulated transmission and distribution assets, which underpins stable operating performance.

Company-Specific Credit Strengths

Regarding APSEZ, Moody's noted the company's robust financial profile supported by the discretionary nature of planned growth capital expenditure and continued access to funding. This flexibility allows the company to adjust growth-related expenditure based on funding access and market conditions, providing operational resilience.

For AEML, Moody's highlighted predictable cash flows from its regulated electricity distribution business in Mumbai, alongside an improving financial profile following recent deleveraging. The agency expects AEML's cash flow from operations pre-working capital to debt to remain in the 10.50-11.50% range over the next one to two years.

Regulatory Compliance and Future Outlook

Adani Ports filed the rating disclosure under Regulation 30(6) of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Moody's indicated that rating upgrades remain unlikely without sovereign rating improvement, while downgrades could follow sustained weakening in credit metrics.

The agency continues monitoring ongoing US legal proceedings involving senior executives at another Adani group entity, warning that material negative developments could affect the group's capital access and growth objectives. However, the stable outlook reflects confidence in the entities' ability to maintain investment-grade credit profiles through the upcoming 18-month window.